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IIFL Mutual Fund Launches IN50

Published on December 04, 2022
Current Context: IIFL Mutual Fund launched IIFL Equity-Linked Savings Scheme (ELSS) Nifty 50 Tax Saver Index Fund (IN50).
IIFL Mutual Fund Launches IN50
  • IIFL ELSS IN50 is India’s first passive tax saver fund and will be on sale through New Fund Offering (NFO).
  • It was launched after the Securities and Exchange Board of India (SEBI) allowed fund houses to launch passive funds in May 2022.
  • IIFL ELSS IN50 is an open-ended passive equity-linked scheme with three years of lock-in.
  • Compared to the actively managed schemes with a higher expense ratio, IIFL ELSS IN50 is of low cost.
  • The NFO began on 1st December 2022 and will end on 21st December 2022.
  • IIFL Mutual Fund was established in 2011 with its headquarters in Mumbai. The current MD & CEO of the company is Prashasta Seth.


Q.1 Which of the following recently launched India’s first passive tax saver fund?
a. Aditya Birla Sun Life
b. BNP Paribas AMC
c. BOI AXA Investment
d. IIFL Mutual Fund
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