PPFAS Mutual Fund announced the launch of Parag Parikh Tax Saver Fund, an open-ended Equity Linked Saving Scheme (ELSS) with a 3-year lock-in period. The scheme’s benchmark index will be Nifty 500 TRI. The New Fund Offer (NFO) period will open for subscription on Jul 4, 2019 and close on Jul 18, 2019. This is the second equity scheme launched by the fund house since its inception.