A Tax saving mutual fund, also known as Equity Linked Savings Scheme (ELSS), is a mutual fund scheme that invests in equity & equity related securities.
Mirae’s equity schemes may not figure in distributors’ recommended list
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Mirae Asset Mutual Fund has slashed the commission it pays distributors to sell its products in an unprecedented move that has miffed these intermediaries.
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Mirae Asset Mutual Fund has slashed the commission it pays distributors to sell its products in an unprecedented move that has miffed these intermediaries. The fund house said the step is aimed at discouraging distributors to sell their products to reduce flows into its schemes mainly Midcap, Focused and Tax-Saving. Distributors claim the asset manager has cut fees only to boost its profitability. The drop in distributor commissions will however not reduce investors’ annual costs in Mirae’s schemes.