A dozen fund houses ready to launch RGESS plans
The RGESS was initially proposed in the Union Budget 2012-13 to encourage flow of savings in financial instruments and improve the depths of domestic capital market.
* IDBI MF, LIC Nomura MF and DSP BlackRock have got the Sebi nod for launching their closed-ended RGESS compliant schemes
* Birla Sun Life RGESS, UTI RGESS, and SBI RGESS Tax Saving Fund are still waiting for their Sebi approval
* Most fund houses have bought existing ETFs schemes under RGESS ambit
* Experts say the scheme is poorly structured in its current avatar
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