Zerodha Asset Management Ltd, a recently established player in India’s mutual fund industry, is gearing up to introduce its inaugural mutual fund offerings. This development comes nearly a month after the company secured its final authorization from the Securities and Exchange Board of India (SEBI).
Staying true to its objective of launching passive investment schemes, Zerodha has submitted draft offer documents to the regulatory authority for the rollout of two distinct schemes: the Zerodha Tax Saver (ELSS) Nifty Large Midcap 250 Index Fund and the Zerodha Nifty Large Midcap 250 Index Fund (ZN250).
Both of these schemes will be benchmarked against the Nifty Large Midcap 250 Index Fund. While one represents a conventional diversified equity fund, the ELSS scheme holds a unique position as a tax-saving vehicle, offering Section 80C tax deduction benefits for investments up to Rs 1.5 lakh.
In line with its strategic blueprint, Zerodha AMC is committed to launching passive investment options, encompassing a diverse portfolio of index funds and Exchange-Traded Funds (ETFs). According to industry experts, this approach positions the fund house as a key player in the evolving landscape of passive investment solutions.