An Open-ended equity linked savings scheme (ELSS) with the objective of long term growth of capital through a portfolio with a target allocation of 80% equity,
20% debt and money market securities
This product is suitable for investors who are seeking
• long term capital growth
• investments in equity and equity related securities, with tax benefit under section 80C, subject to eligibility
A steady fund management of over a decade, a buy and hold strategy, consistency in performance over long period considering the 3 year lock in are some of the reasons for the fund to be made as an investment choice. The fund is overweight on midcap with around 50% into midcaps. The top 10 holdings comprise around 50% of the portfolio. The fund though seems to be taking an extra risk, the drawdown and volatility measures over an increasing period of time prove otherwise. Hnce,the bear phase of the market did affect its performance but the fund soon bounced back. Considering its flexible investment nature, an asset size of 6000 crore should not prove to be an obstacle in generating alpha.