|Category:||Equity: Tax Saving|
|Assets:||R 3,649 crore (As on Apr 30, 2018)|
|Expense:||2.12% (As on Apr 30, 2018)|
The scheme seeks medium to long term growth of capital, with income tax rebate. The scheme invests in equities and there is an exposure to PSU Bonds and debentures and Money Market instruments.
+ Lakshmikanth Reddy since May 2016
+ R Janakiraman since May 2016
An established fund in the ELSS category, it has steadfastly maintained a large-cap bias amid different market phases. Consistency of returns and an ability to contain downside have helped it retain four to five-star ratings for much of the last eight years.
The fund's returns in the last one year show a slowdown relative to the category and benchmark. The fund's year-to-year returns don't always beat its more aggressive peers, but its performance adds up to very handsome returns over the long term.
A fund which allocates a minimum 60 per cent to large caps, it has pegged up this exposure even higher, to 80 per cent in the last one year. Mid and small-caps now make up less than 20 per cent of the portfolio. The fund also avoids momentum stocks and sticks to bottom-up fundamentals-based investing. Though this fund is from a growth style fund house, it tends to be quite valuation-conscious. It doesn't take cash calls and remains fully invested through cycles.
The fund has underperformed its benchmark significantly in the last one year, which has also hurt three-year returns. However, in the five-year period, it has outperformed the benchmark by 3 percentage points. In the past, outpacing the benchmark in 12 of the last 15 years, this fund has proved more adept at containing losses in bear markets than riding bull phases to the hilt.
Go for it if you like a less bumpy ride in choppy markets.comments powered by Disqus