RGESS Eligible Mutual Fund Schemes

RGESS (80CCG): Eligible Mutual Funds for Deduction

There are 5 types of Investments which are eligible for deduction under 80CCG:

  1. Equity Shares in BSE-100 or CNX 100
  2. Equity Shares of Maharatna, Navratna, Miniratna
  3. Units of eligible ETFs or MFs
  4. Eligible FPOs & NFOs
  5. IPOs of eligible PSUs

We have already posted the List of Equity Shares of Maharatna, Navratna and Miniratna here.

Now here we bring the Gist of Eligible Mutual Funds and Exchange Traded Funds under RGESS

Mutual Fund Schemes and Exchange Traded Funds

Aiming to give a push to the paining mutual fund industry, the Finance Ministry facilitated mutual funds to be included in REGSS and thereby giving an option to investors to avail the tax benefit by investing in RGESS eligible ETFs and mutual fund schemes.

However this move is in the interest of first time retail investors. As mutual funds provide expertise of professional fund management, it can score over direct investing for the first time retail investors. The first time retail investors may find difficulty in identifying the right stocks and the valuations at what they should include them in their portfolio. But by routing their money through mutual funds, they can be confident that their money will be used more efficiently in identifying the right stocks at right valuations, thereby providing them decent appreciation in future, through a process driven investment strategy.

Now with the tax saving season coming in, Indian mutual fund industry which is already going through a rough phase does not want to be left out in the hoard to garner some fresh AUM from new retail investors. And in this flurry the industry players are floating new RGESS eligible schemes, while some have converted their existing ETFs into RGESS eligible ETF.

List of RGESS eligible mutual fund schemes

Existing Schemes – Converted to RGESS eligible Type Available on
Goldman Sachs S&P CNX Nifty Shariah Index ETF open-ended – ETF Units Traded on Exchange
Goldman Sachs Banking Index Exchange Traded Scheme open-ended – ETF Units Traded on Exchange
Goldman Sachs Nifty Exchange Traded Scheme open-ended – ETF Units Traded on Exchange
Goldman Sachs Nifty Junior Exchange Traded Scheme open-ended – ETF Units Traded on Exchange
Kotak NIFTY ETF open-ended – ETF Units Traded on Exchange
Kotak SENSEX ETF open-ended – ETF Units Traded on Exchange
Quantum Index Fund -Exchange Traded Fund (ETF) open-ended – ETF Units Traded on Exchange

 

New Schemes Launched with RGESS eligibility Type Open Date Close Date
DSP BlackRock RGESS Fund close-ended 9-Feb-2013 8-Mar-2013
IDBI Rajiv Gandhi Equity Saving Scheme – Series I close-ended 9-Feb-2013 9-Mar-2013
LIC Nomura MF RGESS Series 1 close-ended 9-Feb-2013 25-Feb-2013
SBI Sensex ETF open-ended ETF 9-Feb-2013 8-Mar-2013
UTI Rajiv Gandhi Equity Saving Scheme close-ended 9-Feb-2013 8-Mar-2013

New retail investors who have never invested in equity markets in the past, can take advantage of professional management and claim additional tax saving benefit by investing in equity markets via RGESS eligible mutual fund schemes. But the dilemma lies in selecting the winning RGESS eligible mutual fund schemes for investing their hard earned money.

List of Eligible Shares / Mutual Funds / ETFs under RGESS

Download (PDF, Unknown)

Recommended Read: Important FAQs of Rajiv Gandhi Equity Savings Scheme

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