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Zerodha Mutual Fund (MF) has launched Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund, an open-ended passive equity linked savings scheme with a statutory lock-in period of 3 years and tax benefit replicating/ tracking Nifty LargeMidcap 250 Index. The NFO opens for subscription on October 20, 2023 and closes on November 03, 2023. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 500 and in multiples of Rs 500 thereafter.

The performance of the scheme will be benchmarked against Nifty LargeMidcap 250 (Total Returns Index) and its fund manager is Kedarnath Mirajkar.

The Investment objective of the Scheme is to invest in stocks comprising the Nifty LargeMidcap 250 Index in the same proportion as in the index to achieve returns equivalent to the Total Return Index of Nifty LargeMidcap 250 Index (subject to tracking error).