Kotak Mahindra MF launches Sensex ETF

Kotak Mahindra MF launches Sensex ETF

Kotak Mahindra Asset Management Company has announced the launch of an exchange traded fund which will focus on the stocks that comprise the BSE SENSEX. The investment objective of the scheme is to provide returns that closely correspond to the total returns of the BSE SENSEX subject to tracking error. The scheme will be benchmarked against BSE Sensex. The fund is open for subscription from May 07, 2008 till May 16, 2008. The units will be listed on BSE to provide liquidity through secondary market. Each unit of the Kotak Sensex ETF will be approximately equal to 1/100th of the value of BSE SENSEX. The minimum investment amount during the New Fund Offer is Rs 10,000 and in multiples of Rs 1,000.

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JM Financial Tax Gain Fund

The JM Tax Gain Fund, an Equity-linked Saving Scheme (ELSS).

The Investor benefits in three ways

1) Enjoys tax benefits under Sec 80C of the Income Tax Act 1961. Investment made in the scheme will qualify for a

deduction from gross total Income upto Rs. 1 Lakh.

2) Allows his investment to benefit from the booming economy

3) All income from the scheme is tax free, be it dividends or capital gains on maturity

The Triple Benefit of JM Tax Gain Fund

Investment Objective:

The investment objective is to generate long-time capital growth from a diversified and actively managed portfolio of equity and equity related securities and to enable investors a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time. However, there can be no assurance that the investment objective of the scheme will be achieved.

An Open ended Equity Linked Saving Scheme

Tax Saving – The Preferred Option

Investment Instrument ELSS Fund NSC PPF 5 Yr Bank Deposit

Tax Free Contribution Y Y Y Y

Tax Free Income Y N Y N

Tax Free on maturity Y Y Y Y

Annual returns 50.42%* 8.16% 8.00% 9.00%**

* Source: Mutual Funds of India. Five years average CAGR of ELSS funds as on 26th December, 2007. **FD rate of a PSU bank (Tax saving scheme). Equity investments are subject to market risks. ELSS scheme does not provide any assured income/returns. Tax details are as per prevailing tax laws. Please consult your tax advisor before investing.