HDFC Mutual Fund launches product compliant with tax saving scheme
PTI: Mumbai, Feb 20 2013, 22:35 IST
Country's largest fund house HDFC Mutual Fund launched a product compliant with the tax saving Rajiv Gandhi Equity Savings Scheme on Wednesday.
HDFC Rajiv Gandhi Equity Savings Scheme Series 1 is a three-year close-ended equity scheme which will invest in eligible securities under the RGESS, an HDFC Mutual Fund statement said.
RGESS was announced in the last Budget as a scheme for encouraging retail investors to participate in the market and also includes a tax-saving component, as an incentive.
The product will invest in equities from BSE-100 or CNX-100, state-run Maharatnas, Navratnas, Miniratna companies, and also in follow-on public offers and initial public offers as per prescribed norms, the statement said.
Previous Story Yahoo revamps website, takes cue from Facebook Next Story Success in acquisitions rests on retaining key people: Mercer survey
Reader's Comments| Post a Comment
Be the first to comment.
