|Category:||Equity: Tax Saving|
|Assets:||R 3,543 crore (As on Jan 31, 2018)|
|Expense:||2.41% (As on Jan 31, 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 hover in the four to five star ratings for most of the last eight years.
Returns of the fund has been low compared to its category and benchmark for the past one year. The fund's year-to-year returns didn't always beat its more aggressive peers, but its consistent performance adds up to some very handsome returns over the long term.
A fund which initially allocated a minimum of 60 per cent exposure to large-caps, has yanked this up to 80 per cent last year. Mid and small caps now make up for less than 20 per cent of the portfolio thereby, shielding the fund from any meltdown in this market segment.
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's three and five-year returns are 2 to 4 percentage points ahead of the benchmark but neck-and-neck with the peers. By outpacing 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