A dozen fund houses ready to launch RGESS plans
Ashley Coutinho: Mumbai, Feb 06 2013, 01:10 IST
of equity declared as ‘BSE-100’ or ‘CNX-100’ by the BSE and the NSE or equity shares of public sector enterprises categorised as Maharatna, Navratna or Miniratna by the government.
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.
On track
* 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
Previous Story GSK raises Indian arm stake to 72.5% with Rs.4,800-cr buyback Next Story Earth 100, Gurgaon firm launches eco-friendly bio-diesel cars
Reader's Comments| Post a Comment
Be the first to comment.
