IDFC Tax Advantage Fund is among the few in the ELSS category which invest substantially in mid and small caps, usually making up 40-60 per cent of the fund's assets. But it has rewarded well for this added risk. This makes it suitable for those who want to go aggressive with their tax-saving allocation for earning higher returns. Who is it suitable for? IDFC Tax Advantage Fund is suitable for investors looking to build wealth in the long run and also save tax under section 80C. But remember, it will lock your money in for three years from the date of investment. Investment strategy Growth-at-reasonable-price (GARP): The fund follows a growth-at-a-reasonable-price philosophy. A good understanding of the industry's growth potential and interaction with management are essential before buying a stock. Higher allocation to mid and small caps: The fund maintains a tilt towards mid and small caps. While most other ELSS funds restrict small cap allocation to 5-8 per cent of the portfolio, this fund takes it up to 15-30 per cent. Ditto for mid caps which go up to 20-40 per cent. Occasional cash calls: Although not part of its documented strategy, historical data indicates that the fund is open to taking cash calls occasio
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