- 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.
Question:
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
