JM Equity Tax Saver Fund - Series I | Value Research Investors looking for their tax planning are truly spoilt for choice, with the launch of yet another ELSS, this time by JM Financial. The fund will close on March 29
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JM Equity Tax Saver Fund - Series I

Investors geared for their tax planning exercise are truly spoilt for choice, with the launch of yet another close-ended ELSS fund, this time from JM Financial.
The scheme aims to generate long-term capital appreciation by investing in equity and equity-related instruments. The fund will automatically convert into an open-ended fund at the end of three years.
The fund offers a dividend transfer plan at the end of three years, where the dividends generated can be transferred to any open-ended scheme of the mutual fund. In such cases the minimum investment limits of the scheme will be waived off. During the lock-in period only the dividend payout option will be available.
Fund manager Sandip Sabharwal has 11 years of experience in the mutual fund industry.
Snapshot
Unit cost during NFO: Rs 10
Type of fund: Close-ended ELSS
Options: Growth, Dividend Payout, Reinvestment and Transfer
Minimum investment: Rs. 500
Benchmark: BSE 200
Fund Manager: Sandip Sabharwal
Offer opens: December 28, 2006
Offer closes: March 29, 2007



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