Union KBC Mutual Fund is launching an Equity-linked saving scheme (ELSS), a tax saving scheme named as Union KBC Tax Saver Scheme on November 8, 2011. It's an open-ended scheme with the lock-in period of 3 years.
Investment objective: The investment objective of the scheme is to achieve long-term capital appreciation by investing substantially in a portfolio consisting of equity and equity related securities. The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under the scheme during the NFO period.
Asset Allocation: The scheme would invest 80% to 100% in equity and equity related instruments with medium to high risk profile. On the flip side it would allocate upto 20% of assets in debt and money market instruments with low to medium risk profile.
Basic Details: NFO Opens: November 8, 2011 NFO Closes: December 9, 2011 NFO Price: Rs.10 per unit Options: Growth and Dividend (Payout and Re-investment) Minimum Application Amount: Rs 500 and in multiples of Rs 500, thereafter Exit Load: Nil Benchmark: BSE 100 Index Fund Manager: Mr. Ashish Ranawade
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