Deutsche Mutual Fund has launched an equity-linked savings scheme. Named as Deutsche Tax Saving Fund, it will be initially available for subscription from January 24 to February 22, 2006.
Benchmarked against the S&P CNX 500 index, the fund will invest 80-100 per cent of its assets in equities, while it can also invest up to 20 per cent of its assets in debt and money market instruments. The fund will also offer life insurance cover subject to terms and conditions.
The fund will not charge any entry or exit load from the investments made during the new fund offer period. On an ongoing basis, the fund will charge an entry load of 2.25 per cent for investments of less than Rs 2 crore.
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