Chola Mutual Fund has launched a tax-planning fund. Named as Chola Tax Saver Fund, investments here would qualify for tax exemptions like any other ELSS. During the new fund offer period, it will be available for subscription from September 27 to October 26, 2005.
Benchmarked against the BSE Sensex, the fund would invest 80-100 per cent of its assets in equities, while up to 20 per cent of the assets could be allocated to debt and money market instruments.
The fund would charge an entry load of 2.25 per cent for investments of less than Rs 25 lakh. For investments equal to or greater than Rs 25 lakh, no entry load of will be charged. Investments through the SIP route will also not attract any entry load.
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