The magnitude of victory in the elections has clearly surprised the markets as India is transforming from a “data poor“ to a “data rich“ society, says Munot.
This is the third tranche on offer through which the government aims to garner Rs 2,500 crore.
Typically, these funds invest in a mix of equities and bonds, and allocate a minimum of 65% into equities, with the rest into debt instruments.
Typically, these funds invest in a mix of equities and bonds, and allocate a minimum of 65% in equities, with the rest invested in debt instruments.
Once an investor is KYCcompliant, he can invest in an ELSS scheme just like any other mutual fund scheme.
The further fund offer (FFO) will open for anchor investors on March 14, while subscription for retail investors would begin from March 15 and will continue till March 17.
You can save tax by investing upto Rs 1.5 lakh in equity-linked savings scheme (ELSS) under section 80C of the Income Tax Act.
The pitch by mutual funds is that investors can earn 7-8% by parking their surplus money in liquid schemes with easier redemptions as against 4% in a savings bank account.
Using simple methods, online portals have been able to get onboard several new customers and get wallet share from existing customers.
Investing in mutual funds is different from stocks. When you buy mutual fund units the NAV, is calculated on the basis of the current market price all the assets that the mutual fund owns.
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