Invest In Tax Saving Mutual Funds Online
This fund sticks to its mandate to mostly invest in a diversified portfolio of debt and money market securities. Depending on the fund managers' views on equity, the fund invests in equity to enhance the overall portfolio returns. In its short history of 5 years, this fund has maintained a compact equity portfolio with no more than seven stocks and that too from the mid- and small-cap universe. At the moment, there is only a single stock, Goodyear India, in its portfolio; accounting for a little over 4 per cent allocation.
The fund managers follow a fixed income investment strategy which focuses on generating high accrual income from the portfolio by primarily investing in high-quality short-term papers. They emphasise on quality portfolio with large portion of its investments in AA+ and AAA rated papers. Its allocation to debentures has been 65 to 70 per cent in 2012.
Performance
This fund has improved its performance with time. In 2008, this was the second best fund in the category with 10 per cent returns compared to the category average of -3.65 per cent. However, the very next year it slipped to be in the bottom quartile. While it was able to rebound in 2011 when the markets fared poorly, but it was insufficient for it to post anything out-standing.
To add to its woes, it has seen seven fund managers manage it over the past five years, which has resulted in inconsistent performance. In 2011, this fund spun around to be in the top quartile with 4.24 per cent returns, which was almost four times the category average that year. However, 2012 was not a favourable year, when this fund slipped on performance yet again. The renaming to DWS Income Advantage Fund from the earlier Money Plus Advantage did not help its fortunes. The fund's varying performance has resulted in its assets going up in 2009 to Rs 900 crore and then falling in 2012 to Rs 8 crore. Where this fund loses out further is with its high expense ratio, which was 2.45 per cent as on December 31, 2012.
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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.
Invest Tax Saving Mutual Funds Online
Tax Saving Mutual Funds Online
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These Application Forms can be used for buying regular mutual funds also
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