The Business Bytes
TBB BUREAU
BHUBANESWAR, NOV 2, 2022
SAMCO Mutual Fund is set to launch a mid- and small-cap-focused equity-linked savings scheme (ELSS) tax saver fund with a mandatory 3-year lock-in period.
The new fund offering (NFO) will open from November 15 to December 16, 2022.
“To help investors invest in fundamentally strong businesses which have a higher potential of becoming the wealth creators of tomorrow, Samco ELSS Tax Saver Fund makes use of the HexaShield Framework, a proprietary strategy driven by technology, to filter out an investible universe of high-quality efficient stocks,” the fund house said.
“With the SAMCO ELSS Tax Saver Fund, we are enabling an investor to avail the benefits of tax saving under Section 80C and get exposure to efficient growing Mid and Small-Cap businesses for at least a 3-year time horizon. The idea is to enable an investor to be a part of India’s growth story through investments in mid and smaller-sized leaders of niche sectors because these businesses could become future drivers of growth for our country, taking them on an exponential compounding trajectory, ” said Umeshkumar Mehta, CIO of Samco Asset Management Pvt. Ltd.
Viraj Gandhi, Chief Executive Officer (CEO) of Samco AMC, said, “SAMCO Mutual Fund endeavours to empower retail investors and provide solutions that allow them to make smarter decisions in their investment journey. Being true to SAMCO’s DNA of curating active innovative products, the ELSS fund would be investing predominantly in high-potential mid and small-cap companies.”
