For those who always wished for a passive Index ELSS fund.
More details are in the news article.
source: IIFL launches India’s first passive tax-saving fund after SEBI’s nod (moneycontrol.com)
we have to wait and see the AUM size, expense ratio and tracking error
Until there is need for 80C, better to avoid this and invest in non-ELSS Index funds like UTI nifty 50
This is purely meant for ELSS. Othewise, what’s the point of having this in your PF with a lock in of 3 years?
@Bhuvan :- news says
" The Fund’s issue open date is Dec 01, 2022 and issue close date is Dec 21, 2022 . The NAV of the fund will remain Rs. 10 during the New Fund Offer (NFO) initial subscription period. Post this period, the allotment of units for the fund will be made on Dec 28, 2022"
I don’t see this under zerodha coin NFO tab
NFOs are temporarily unavailable on Coin since we are transitioning to a new transaction processing system. Will be available soon.
You can invest in this fund once it is available for continuous purchase within a week of the NFO closing.
I still don’t see this fund on Coin. Any deadlines?
Anybody knows what percentage of SIP inflows are for ELSS out of total ?
How has the IIFL ELSS Nifty 50 Tax Saver Index Fund performed against the benchmark and the other funds in its category?
Hi @sriramnpkt ,
The 360 ONE ELSS Tax Saver Nifty 50 Index Fund, formerly known as IIFL ELSS Nifty 50 Tax Saver Index Fund, is an open-ended ELSS scheme. The performance of index mutual funds is directly linked to the performance of the index. Therefore, over the long term, the Nifty 50 index fund delivers returns very similar to the Nifty 50 Index, excluding the fund’s expense ratio.
Index funds have lower expense ratios, offering a cost advantage for long-term investors. On the other hand, ELSS funds provide tax benefits under Section 80C.
Sometimes, due to tracking error, the scheme’s returns may not align with or match the benchmark return. Tracking error refers to the difference between the scheme’s return and the benchmark index’s return. It measures how closely a mutual fund scheme replicates the performance of its benchmark index. The greater the deviation from the benchmark’s return, the higher the tracking error of the scheme.
