Chola MF launches tax saver fund

CHENNAI: Chola Mutual has come out with `Chola Tax Saver Fund', an open-ended equity linked savings scheme. Individuals and HUFs investing in this fund would be able to avail themselves of tax deduction up to Rs. 1 lakh under Sec. 80C of the Income Tax Act. Launching this fund here on Wednesday, Tridib Pathak, Chief Investment Officer, said the objective of the scheme was to generate capital appreciation by investing predominantly in equity and equity- related instruments. The new fund offer (NFO) of the scheme will remain open for subscription till October 26. The scheme offers both dividend and cumulative options.

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