Invest In Tax Saving Mutual Funds Online
We like this fund for its diversification, purity, impeccable stock selection and consistency that has resulted in this fund becoming a top performer in the category.
Strategy
From a fund with no specific capitalisation style, it has emerged into a blend of large- and mid-cap fund with growth orientation. It does have the leeway to invest in small-caps, which it does at opportune times. The fund manager has very few favourite stocks, with the exception of SBI and Airtel, which have found place in the portfolio for long durations. There are some other stocks such as BHEL, Reliance Industries, Infosys, L&T and ITC, which frequently enter and exit the portfolio.
Likewise, there are favourable sectors like financial and technology that have had significant exposure in the past five years, with overall top-5 sectors making up for about 65 per cent exposure compared to the category average of about 70 per cent. In the past two years, this fund has significant exposure of over 5 per cent in the construction businesses, which it is betting on. The fund manager maintains cash positions depending on the market scenario, with 10 per cent being the average cash holdings in the past two years.
Performance
For an 18-year old fund, its performance has been mixed with frequent highs and lows. In 2000, this fund suffered from the impact of the technology sector bust. It had 45 per cent exposure to a single stock – Infosys. The performance mediocrity continued till 2005. Since 2006, this fund has been a consistent performer and has emerged into the best in the category. In 2008, the fund did well with a high exposure to cash, which helped it benefit from the market turnaround in 2009. Ever since then, this fund has managed to build a niche for itself with investments in well-diversified portfolios with no market cap bias which has helped its performance. The fact that it has done well in both bull and bear phases is testimony to the prudent fund management discipline demonstrated by the fund manager resulting in it being a top-quartile performer over the past four years.
Why invest?
The fund's ability to consistently beat its benchmark, irrespective of the timing of one's investment, makes the fund a good addition to a core portfolio. However, frequent change in fund management in recent years could be a cause of concern.
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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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