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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.
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