If India has to grow, our markets have to expand. While we’ve built easy-to-use platforms for people to invest in equities and mutual funds, we also realized maybe they need easy-to-understand products. This is the only way to get the next 10 million Indians to invest, so we decided to apply for a mutual fund license. We are building the AMC as a joint venture with smallcase. They have 6+ years of experience building investment products, and building this with them and leveraging that expertise was a no-brainer. The AMC will be led by Vishal Jain, who has over 20 years of experience designing passive products. He was part of teams that launched India’s first equity, debt, and commodity ETFs.
It took us a while, but we are super excited to announce that the first new fund offerings of Zerodha Fund House are now open for investment on Coin and all the other direct mutual fund platforms. The two funds we have launched are an open ended index fund and a equity linked savings scheme (ELSS) or tax saver fund that tracks the Nifty LargeMidcap 250 Index. The index has exposure to both large and mid caps and is an ideal fit for core equity exposure in all portfolios.
Here’s Vishal talking about the philosophy of Zerodha Fund House and about the new funds
Once a MF NFO is listed it has to complete a minimum duration of three months to get on the clearing corporation pledge list. These are some internal audits and pre-defined policies approved by the board and the team at the clearing corp, they track the performance for a minimum period of three months post that they allow the MF scheme to be available in the approved list of securities. Once the scheme satisfies all the internal checks from the clearing corp it shall be available to pledge.
Further, contrary to this, you will see ETFs getting listed within a month’s time from the listing date, this is because the ETFs are considered as securities for the clearing corp and have different criteria.
The fund house does not seem proactive is responding to queries or resolving Order related issues. I have raised a ticket for a Coin order pending since 21st November to no response. Does not reply to twitter DMs too.
For any transactions related query you can create a support ticket on zerodha support portal if the order is placed on coin. The fund house does not resolve any transaction related issues.
LIQUIDCASE, Zerodha Nifty LargeMidcap 250 Index Fund, and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund is now part of the CC’s pledge list and will become useable for pledging from 1st March 2024. You can check the circular (Annexure 5) and Annexure 1 2 & 3 for reference
Hi,
Returns generated through overnight instrument i.e. TREPS, net of expenses and tracking error should be the expected return for Liquidcase. The current rate of TREPS ranges from 6-6.75%, however, it can change depending upon the RBI policy action and general banking liquidity.
