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Considering ETF and Index funds to offer variety to customers, says Nippon India Mutual Fund s Saugata Chatterjee
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Nippon India Mutual Fund to launch Flexi Cap Fund
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Nippon India Mutual Fund (Nimf) Launches Nippon India Flexi Cap Fund - Udaipur News | Udaipur Latest News
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Updated Feb 20, 2021 | 09:21 IST
Interest on employee’s contribution towards Provident Fund (PF) account above Rs 2.5 lakh per annum will be taxable with effect from April 1. This will affect VPF investors Debt mutual funds v/s VPF: Which is better for high-salaried individuals post Budget rule-change | Photo Credit: Thinkstock
One proposal in the Union Budget 2021 which is likely to hit wealthy investors in voluntary provident fund (VPF) may prompt them to instead move to debt mutual funds.
According to the proposal which comes into effect on April 1, 2021, interest on employee’s contribution towards Provident Fund (PF) account above Rs 2.5 lakh per annum (which means the minimum basic salary of Rs 1.75 lakhs) will be taxable with effect from April 1. Earlier the interest earned on PF was exempt from tax.
Synopsis
Nippon Life India Mutual Fund has announced the launch of Nippon India Passive Flexicap FoF, an open-ended Fund of Funds scheme investing in units of ETFs/index funds of Nippon India Mutual Fund.
ETtech Rahul Awasthi
Nippon Life India Mutual Fund has announced the launch of Nippon India Passive Flexicap FoF, an open-ended Fund of Funds scheme investing in units of ETFs/index funds of Nippon India Mutual Fund. The NFO opens on December 10 and closes on December 24. The minimum investment required is Rs 5,000 and in multiples of Re 1 thereafter.
Nippon India Passive Flexicap FoF will predominantly invest in units of ETFs/index funds of Nippon India Mutual Fund. The fund will be benchmarked against Nifty 500 TRI. According to the press release, Nippon India Passive Flexicap FoF would invest across market caps, basis average allocation of all active multicap funds in the industry into large, mid and small cap stocks as provided by CRISIL every month.