Posts filed under 'ELSS'
Indiabulls Mutual Fund has filed its draft offer document with SEBI in regard to Indiabulls Tax Saver Fund.
Type of Scheme
An Open-ended Equity Linked Savings Scheme (subject to lock in period of 3 years from the date of allotment)
As per the present tax laws, eligible investors in the scheme (who are “Assessee” as per the ELSS Rules) are entitled to deductions of the amount invested in the units of the scheme under Section 80(C) of the Income Tax Act, 1961 to such extent (presently one lakh) and subject to such conditions as may be notified from time to time.
The scheme has been formulated in accordance with the Equity Linked Savings Scheme (ELSS) notifications dated November 03, 2005 and December 13, 2005 issued by the Government of India.
Investment objective
The primary investment objective of the Scheme is to generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities.
However there can be no assurance that the investment objective of the scheme will be achieved.
December 7th, 2011
Axis Tax Saver is renamed as Axis Long Term Equity Fund. The new name will be effective September 2, 2011. The type of scheme stands modified to ‘an open ended equity linked savings scheme with a 3 year lock-in’.
Meanwhile, the fund topped the list of tax planning mutual fund schemes for 1-year returns as of June 30, 2011. This is quite a distinction considering the scheme is one of the youngest in the group of ELSS mutual fund scheme.
The scheme invests largely in Large and Midcap stocks and follows a blended style of investing. The date of first allotment of the scheme is December 29, 2009. Chandresh Nigam and Jinesh Gopani are currently managing the scheme. The fund has an average monthly AUM of Rs. 123.13 crore and had a portfolio turnover of 1.25 times in the last 1 year.
The scheme has largely invested in Consumer Non-Durables (15.8%), Banks (14.75%) and Software (7.86%) amongst others. HDFC Bank, ITC, HDFC, ICICI Bank and Infosys Technologies are the top 5 scripts the scheme is invested in.
August 20th, 2011
Mutual Fund
IDFC Mutual Fund
Scheme Name
IDFC Tax Advantage (ELSS) Fund
Objective of Scheme
to seek to generate long-term capital growth from a diversified portfolio of predominantly Equity and Equity related securities.
Scheme Type
Open Ended
Scheme Category
ELSS
New Fund Launch Date
1-Dec-2008
New Fund Earliest Closure Date
-
New Fund Offer Closure Date
17-Dec-2008
Indicate Load Separately
Of less than Rs. 5 Crores (including for SIPs & STPs) - 2.25%; Of Rs. 5 Crores or more (including for SIPs & STPs) - Nil; By an FOF (irrespective of the amount of Purchase) - Nil
Offer Price (Rs.)
Rs. 10/- per Unit (s)
Minimum Subscription Amount
Rs. 500/-
December 15th, 2008
Draft offer documents of the following Mutual fund schemes are submitted to SEBI for approval and are now put on SEBI website for public view and commenting:
Bharti Axa Tax Advantage Fund
October 20th, 2008
Top ELSS (Tax Planning) Mutual Fund Schemes and their 1-year returns:
Sundaram BNP Paribas Taxsaver 6.13%
Magnum Taxgain -6.94%
HDFC LT Advantage -6.9%
HDFC Taxsaver -9.79%
Principal Tax Savings -13.41%
Birla Sun Life Tax Plan -14.46%
Canara Robeco Equity Tax Saver -6.59%
Principal Personal Tax Saver -6.96%
Franklin India Index Tax -1.24%
Birla Sun Life Tax Relief 96 -12.58%
August 30th, 2008
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