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The change in debt fund taxation earlier this year has nudged fund houses like Kotak Mutual Fund to launch asset allocation funds with an equity tax advantage. The funds invest in multiple asset classes and then switch between them, depending on the fund manager’s strategy to ride market volatility and opportunities it presents.
The scheme will be benchmarked against S&P BSE Housing Index (Total Return Index). The scheme will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.
The scheme closes on August 7; Devender Singhal, Satish Dondapati and Abhishek Bisen are the fund managers
Bajaj Finserv Flexi Cap Fund, Kotak Nifty Financial Services Ex-Bank Index Fund, and Mirae Asset Nifty 1D Rate Liquid ETF are open for subscription.
An equity savings fund is a type of mutual fund that provides investors with a combination of equity, debt, and arbitrage investment. Equity savings funds