(As of 30 Apr, 2019)
To deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investment made in the scheme under section 80C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to avail Section 80C benefits.
(since 10 Sep, 2016)
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.
ICICI Bank Ltd
HDFC Bank Ltd
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.
This fund is rated 2 stars by Morning Star Ratings.
With 30 years of rich experience in fund management, we at SBI Mutual Fund, bring forward our expertise by consistently delivering value to our investors. SBI Mutual Fund has a strong and proud lineage tailing back to the State Bank of India (SBI) - India's largest bank. SBI Mutual Fund is a Joint Venture between SBI and AMUNDI (France), one of the world's leading fund management companies.
SBI Mutual Fund’s vision -“To be the most trusted and respected Asset Manager”, and we deliver value and nurture the trust of our vast and varied family of investors, with our network of over 222 acceptance points across India. Investors are our priority. SBI Mutual Fund’s mission is to establish Mutual Funds as a viable investment option to the masses in the country. While on our way towards achieving it, we, at SBI Mutual Fund, have developed innovative, need-specific products and educated the investors about the added benefits of investing in capital markets via Mutual Funds. Today, SBI Mutual Fund has been actively managing investor's assets not only through our investment expertise in domestic mutual funds, but also offshore funds and portfolio management advisory services for institutional investors.