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Standard Chartered Tax Saver Fund

Standard Chartered Tax Saver (ELSS) fund is the latest to join the ranks of ELSS funds. The investment objective of the Scheme is to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities.

Although it is structured as a ten year close- ended equity linked savings scheme, the lock-in period will be the usual three-year duration from the date of allotment.

The intended asset allocation reads as: 80 - 100 per cent in equity, 0 - 20 per cent in debt and money market instruments, 0 - 20 per cent in securitized debt instruments. There are no entry or exit loads applicable. Expenses will be amortised over a period of ten years, in case an investor exits before maturity the AMC will recover the balance proportionate unamortised issue expenses.

Unit cost during NFO: Rs 10
Type of fund: Close-ended ELSS
Options: Growth, Dividend reinvestment, Dividend payout
Minimum investment: Rs 500
Fund Manager: Kenneth Andrade
Offer opened: November 20, 2006
Offer closes: February 23, 2007