This fund has been a middle-of-the-road performer in the short-term category, with a CAGR of 9 and 9.2 per cent on the regular option over three and five years, 20 to 30 basis points ahead of the category.
The fund follows a conservative strategy by keeping its average portfolio maturity within the one- to three-year range at most times. It also plays it quite safe on credit quality, with G-secs or AAA bonds dominating the portfolio. As of April 2016, the fund had as much as 88 per cent of its portfolio parked in G-secs (19 per cent), AAA bonds (55 per cent) and top-rated commercial paper (14 per cent). The portfolio mix shows that the fund owns very short-term corporate debt, with a couple of long-dated G-secs to take advantage of rate falls. The strategy makes it a good fund for investors looking for returns with low volatility.
There is a substantial differential in the expense ratio between the direct and regular plans of this fund, with the direct plan charging a very modest 0.25 per cent against the regular plan's 1.08 per cent.
Top 10 Tax Saver Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
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7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
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