SBI Mutual Fund has launched SBI Tax Advantage Fund – Series II, which is a 10 year closed ended ELSS (Equity Linked Savings Scheme) fund. The minimum investmentamount is Rs 500, and you can invest in multiples of Rs 500 after that.
The investment objective of the scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies across large, mid and small market capitalization, along with income tax benefit.
NFO Opens : 22nd December 2012.
NFO Closes : 21st March 2012.
Fund Manager of the scheme is Jayesh Shroff.
The fund has a dividend and growth option, and since it is an ELSS fund – it will have 3 years lock in period. This fund comes under section 80C of income tax.
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