Rating: ★ ☆ ☆ ☆ ☆

Nippon India Tax Saver (ELSS) Fund Direct Plan Dividend Payout Option

Equity

  

ELSS Fund

NAV

16.497 + 0.1628

as on (02 Jun, 2020)

RETURNS

-11.56 %

Fund Type

Open Ended

Investment Plan

Dividend Payout

Expense Ratio

1.29 %

Benchmark

S&P BSE 100 India TR INR

Asset Size

7994.6 Cr.

(As of 30 Apr, 2019)

Risk

Moderately High

Objective

The primary objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related instruments. However, there can be no assurance that the scheme’s investment objective shall be achieved.

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Fund manager

Ashwani Kumar

(since 22 Sep, 2005)

Exit load

N / A

Minimum sip

₹ 500

minimum investment

₹ 500

Top Holdings

This fund is been allocated in various sectors including some of the prominent ones that are widely accepted and are creating a value of trust.

Company

Assets

State Bank of India

9.03 %

Tata Steel Ltd

6.29 %

TVS Motor Co Ltd

5.79 %

Tata Motors Ltd

4.71 %

Sector Allocation

About the Scheme Type

ELSS Fund

ELSS or Equity Linked Saving Schemes can help you with a two-fold benefit of saving your taxes and growing your money. ELSSare open-ended Equity Mutual Funds, investments in which qualify for tax exemptions under section 80C of the Income Tax Act of 1961. The scheme invests at least 80% of its total assets in equity and equity-linked instruments and comes with a mandatory lock-in period of 3 years. Returns from ELSS investments over and above 1 lac rupees are subject to LTCG (Long-Term Capital Gains) Tax at 10%.

Given that these funds are passively managed, it also reduces the expense ratio and other fees making them cost efficient.

Ratings

This fund is rated 1 stars by Morning Star Ratings.

★ ☆ ☆ ☆ ☆

Overview of Reliance Nippon Life Asset Management Ltd

With Average Assets Under Management (AAUM) of Rs 2,33,628.56 Crores​​ ​(January 2019 - March 2019 QAAUM) and 90.67 lakhs folios (as on​ March 31, 2019​​), Reliance Mutual Fund is one of India's leading mutual funds. Reliance Mutual Fund is one of the fastest growing mutual funds in India, offering investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 300​ cities (as on​ March 31, 2019​​) across the country. Reliance Mutual Fund constantly endeavours to launch innovative products and customer service initiatives to increase value to investors.

Vision statement of Reliance Mutual Fund - To be a globally respected wealth creator with an emphasis on customer care and a culture of good corporate governance.

Mission statement of Reliance Mutual Fund - To create and nurture a world-class, high performance environment aimed at delighting our customers.​

Main objectives of Reliance Mutual Fund are

  • To carry on the activity of a mutual fund as may be permitted by law, and formulate and devise various collective schemes of savings and investments for people in India and abroad, and also ensure liquidity of investments for the unit holders
  • To deploy funds thus raised so as to help the unit holders earn reasonable returns on their savings
  • To take such steps as may be necessary from time to time to realise the effects without any limitation