NJ ELSS Tax Saver Scheme NFO: All you need to know

13 Mar 2023 , 09:14 AM

NJ Mutual Fund is launching NFO under its “equity category-Tax Saving”, named as NJ ELSS Tax Saver Fund. This open-ended fund will invest predominantly in equity and equity related instruments across market caps. The equity linked saving scheme comes with a statutory lock in of 3 years and tax benefit.

Investment strategy: The scheme aims for long-term capital appreciation by investing predominantly in equity & equity related to form a diversified portfolio. 

Asset allocation: NJ ELSS Tax Saver Fund seeks to provide diversification across equity and equity related instruments to generate long-term capital appreciation.

Who should invest?

Investors with high risk appetite and want to invest for 5 to 7 years in a mutual fund should invest in NJ ELSS Tax Saver Fund. The scheme comes with a statutory lock-in period for 3 years, so those who wants to invest in the scheme should know that they cannot redeem the amount before 3 years from the date of investment.

Risk associated: Very high level of risk.

Benchmark: NIFTY 500 TRI.

Fund Managers: Mr. Viral Shah.

The NFO is available for subscription from March 13 to June 9. The schemes will reopen for continuous sale and repurchase within five Business Days from the date of allotment. The fund offers systematic investment solutions like SIP and SWP to create a flexible investment plan. The minimum subscription amount is Rs 500/- and in multiples of any amount thereafter. 

It offers Regular Plan and Direct Plan. Each plan offers Growth and Income options. Click here to invest in NJ ELSS Tax Saver Scheme.