StanChart Mutual to launch tax-plan equity fund

MUMBAI: Standard Chartered Asset Management filed initial papers with the Securities and Exchange Board of India (Sebi), on Wednesday to launch a close-end tax-saving equity fund.   

Standard Chartered Tax Saver (ELSS) Fund would invest at least 80 per cent of its assets in stocks and up to 20 per cent in debt and money market instruments.   

It would be the fifth equity fund offering from the fund house that managed assets worth 117.65 billion rupees at the end of September.