NJ Mutual Fund has launched a new fund offer ‘NJ ELSS Tax Saver Scheme’, An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The NFO is open for subscription from March 13rd, 2023 and will end on June 9th, 2023.
Within five Business Days following the date of allotment, the Schemes will reopen for continuous sale and repurchase. Subscriptions can be made starting at Rs. 500 and in multiples of Rs. 500/-. Both a Regular Plan and a Direct Plan are available where each plan offers Growth as well as Payout of Income Distribution cum Capital withdrawal Option (IDCW).
About NJ Mutual Fund
NJ Asset Management Private Limited is a trusted leader in the Indian financial services and wealth management industries. This Indian AMC is part of NJ India Invest Pvt. Ltd., a forerunner in the financial services management business since its incorporation in 1994.
The NJ group, named after its co-founders Mr. Niraj Choksi and Mr. Jignesh Desai, is a prominent player in the modern financial services industry.
The NJ group provides a wide range of services, including the distribution of financial products and services, loans/credit, insurance, asset management, and offshore funds. NJ Mutual Fund’s “Rule-based Active Investment” method uses a team of financial scientists to pick stocks, distribute funds, and set weights using cutting-edge computer algorithms and human intelligence. In summary, it uses data to pick the best stocks, assess market volatility, and predict future returns. NJ Asset Management Pvt. Ltd. uses this new strategy to minimize human bias and maximize value for investors and business partners.
NJ ELSS Tax Saver Scheme – NFO Detail
| Type of Offer | NFO (New Fund Offer) |
| Fund House | NJ Mutual Fund |
| Name of the Fund | NJ ELSS Tax Saver Scheme |
| Type of Scheme | Open-ended |
| Category of Scheme | ELSS scheme |
| NFO Starts | 13-March-2023 |
| NFO Ends | 09-June-2023 |
| NFO Unit Price | Rs 10 per unit |
| Minimum Investment | Rs. 500 |
| Plans | Regular, Direct |
| Options | Growth, payout of IDCW |
| Entry Load | Not Applicable |
| Exit Load | Nil. |
| Investment Manager | NJ Asset Management Pvt. Limited |
| Fund Manager | Mr. Viral Shah |
NJ ELSS Tax Saver Scheme NFO – Scheme Objective
The investment objective of the Scheme is to generate income and long -term capital appreciation from a diversified portfolio of predominantly equity and equity-related instruments.
NJ ELSS Tax Saver Scheme NFO – Who Can Invest?
This product is suitable for investors who are seeking:
- Capital appreciation & generating income over the long term.
- Investment in a portfolio predominantly consisting of equity and equity related instruments.
How Will the Scheme Allocate Its Asset
- 80-100% in Equity and Equity related instruments.
- 0-20% in Debt Securities and Money Market Instruments.
Where Will the Scheme Invest?
As per the information provided in the scheme information document, the corpus of this scheme
can be invested in any (but not exclusively) of the following securities:-
- Equity and equity related securities equities, cumulative convertible preference shares and fully convertible debentures and bonds of companies.
- Investment may also be made in partly convertible issues of debentures and bonds including those issued on rights basis subject to the condition that, as far as possible, the non-convertible portion of the debentures so acquired or subscribed, shall be disinvested within a period of twelve months;
- TREPS, Repo / Reverse (in Government securities), Treasury bills, cash and cash equivalents.
- Government securities issued by (central and state governments) and other securities issued by RBI from time to time.
- Units of Mutual funds including ETFs as may be permitted by SEBI regulation
- Pending deployment of the Scheme shall be invested in short -term Deposit as per SEBI circular issued in this regard from time to time.
- Any other instruments (as mentioned in point 4 and 4 above) may be permitted by RBI/SEBI/such other Regulatory Authority(ies) from time to time.
The Scheme may invest in other Schemes managed by the AMC or in the Schemes of any other Mutual Fund(s), provided such investment is in conformity to the investment objectives of the Scheme and in terms of the prevailing Regulations.
NJ ELSS Tax Saver Scheme NFO – SID (Scheme Information Document)
Please click here to read the SID (Scheme Information Document) of this upcoming NFO scheme.
How to Invest?
Visit this page on the AMC website for further detail and investment.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.
