Shriram Asset Management Co., a part of Shriram group, will introduce Shriram Multi-Asset Allocation Fund on Friday. The fund will close on September 1.
The fund is an open-ended scheme which will invest in equity, debt and money-market securities, and gold/silver exchange-traded funds, said the company in a statement.
The minimum investment amount for lumpsum is ₹5,000 while for systematic investment plan it is ₹1,000 per month or ₹3,000 per quarter. There is no lock-in period involved.
The fund offers the investor the benefit of long-term capital gains tax at 10% if they cross ₹1 lakh in such gains in a fiscal year.
“Analysis of the last five years indicates that the category of Multi-Asset Allocation Funds has shown lesser volatility with equity-like returns; hence this is a good option for goal planning,” said its MD & CEO Kartik L Jain.
