The Aditya Birla Sun Life Tax Relief 96 - Direct Plan - Dividend Option is an open-ended equity-linked saving scheme offered by Aditya Birla Capital Limited (ABCL). ABCL is a part of the Aditya Birla Group and is one of the leading financial services players in India. The Aditya Birla Sun Life Tax Relief 96 - Direct Plan - Dividend Option has a 3 year statutory lock-in period and along with capital appreciation, offers tax benefits to the investor.
The direct plan of the scheme allows investors to subscribe directly with the fund house and hence, has a low expense ratio. The dividend option provides regular income to the investor after the completion of the lock-in period.
Investment Objective
To produce attractive capital returns for the investor while also offering tax benefits under Section 80C of the Income Tax Act, 1961.
Key Features of the Scheme
The Aditya Birla Sun Life Tax Relief 96 is ideal for investors who seek capital growth over a long term and has the below features:
|
Type of Fund |
An open-ended equity-linked saving scheme |
|
Plans Available |
Regular and Direct |
|
Options Under Each Plan |
The dividend option offers payout and sweep facility |
|
Risk |
Moderately High |
|
Systematic Investment Plan |
Available |
|
Systematic Transfer Plan |
Available |
|
Systematic Withdrawal Plan |
Available |
Investment Amount for Aditya Birla Sun Life Tax Relief 96
|
Minimum Application Amount |
Rs.500 and in multiples of Re.1 thereafter |
|
Minimum Additional Investment |
Rs.500 and in multiples of Re.1 thereafter |
|
Minimum Installment for Systematic Investment Plan (SIP) |
Monthly and weekly SIP - Minimum 6 instalments including the first instalment of Rs.1,000 each and above per month |
|
Minimum Installment for Systematic Withdrawal Plan (SWP) |
Rs.1,000 |
|
Entry Load |
Nil |
|
Exit Load |
Nil |
Asset Allocation for Aditya Birla Sun Life Tax Relief 96
|
Instruments |
Target Allocation |
Allocation Range |
|
Equity and its related securities |
80% |
80% to 100% |
|
Debt and money market securities |
20% |
0% to 20% |
NAV Disclosure and Benchmark for Aditya Birla Sun Life Tax Relief 96
The Net Asset Value (NAV) per unit of the Aditya Birla Sun Life Tax Relief 96 is derived by dividing the scheme’s net assets by the number of outstanding units on the day of valuation. The NAV is computed and disclosed at the end of each business day. The NAV will be rounded off to 2 decimal places and the units will be allocated up to 3 decimals.
The fund house will update the NAV on the website of the Association of Mutual Funds in India (AMFI) and Aditya Birla Capital at www.amfiindia.com and www.mutualfund.adityabirlacapital.com respectively on the same day by 9:00 p.m. The NAV will also be sent for publication to at least 2 newspapers with nationwide circulation by the asset management company.
Benchmark - S&P BSE 200
Fund Manager - Mr. Ajay Garg
The Aditya Birla Sun Life Tax Relief 96 has been managed by Mr. Ajay Garg since 1 October 2006. He has over 23 years of experience in the financial services domain. Before joining Aditya Birla Capital, he has worked with Birla Sun Life Securities Ltd. The other schemes managed by him include the Birla Sun Life Tax Plan, Birla Sun Life MNC Fund, Birla Sun Life Index Fund, etc.
Why you should invest in the Aditya Birla Sun Life Tax Relief 96
- Tax benefits - Investors can save tax up to Rs.53,303 per year by subscribing to the units of the Aditya Birla Sun Life Relief 96. The tax benefits can be availed under Section 80C of the Income Tax Act, 1961.
- Different modes of investment - The scheme is available for subscription through the SIP route and lump sum option. For just Rs.500 a month, investors can invest in the units of the scheme and grow their wealth.
Optimal returns - The scheme invests in equity and its related securities to yield optimal returns for the investor and help them achieve long-term capital appreciation.
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GST rate of 18% applicable for all financial services effective July 1, 2017.
