To generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs.100 Crores at the time of investment.
A relatively new entrant, the fund has been attracting a lot of attention due to its outstanding performance in the last few years. Its phenomenal performance is reflected in our rating too.
Launched in the sideways market in 2010, it has since managed to beat its benchmark as well as peers consistently. Its resilience was also visible during the unfavourable market conditions of 2011, when it managed to arrest its fall much better than the benchmark. The fund did better than its benchmark by 15 per cent during this period. Continuing its stellar performance record, the fund delivered returns that were almost twice the benchmark returns in the last three years. Its performance in the last year is also better than its category average. It offered 84.6 per cent last year, compared with the category average return of 75 per cent.
The fund can invest across market capitalisations as per its original mandate. However, it likes to have a higher allocation to mid-cap stocks. Its average holding in mid-cap stocks is around 60.7 per cent. Currently, the fund is quite underweight on the automobile sector and significantly overweight on chemicals vis-Ã -vis the benchmark.
Investors could take a closer look at this all rounder, which has managed to perform in both the rising as well as falling markets. However, they should also remember that it is a relatively new entrant.
1.ICICI Prudential Tax Plan
2.Reliance Tax Saver (ELSS) Fund
3.HDFC TaxSaver
4.DSP BlackRock Tax Saver Fund
5.Religare Tax Plan
6.Franklin India TaxShield
7.Canara Robeco Equity Tax Saver
8.IDFC Tax Advantage (ELSS) Fund
9.Axis Tax Saver Fund
10.BNP Paribas Long Term Equity Fund
You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds
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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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