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Birla Sun Life Tax Relief 96

Type or nature of fund

Birla Sun Life Tax Relief 96 is an open ended Equity Linked Savings Scheme (ELSS) with a lock-in of 3 years from the date of allotment.

Investment objective

The investment objective of Birla Sun Life Tax Relief 96 scheme is to generate long term capital through a portfolio with target allocation of 80 percent equity and 20 percent debt and money market securities.

Fund information

Inception date 29th March, 1996
CRISIL rank Birla Sun Life Tax Relief 96 is ranked 2 under Equity Linked Savings Scheme.
Plans Regular and Direct.
Options Dividend Growth
Schemes
  • Growth
  • Dividend
  • Direct Growth
  • Direct Dividend
Entry load NIL
Exit load NIL
Minimum investment

Fresh purchase:

Minimum – Rs.500 and thereafter in multiples of Re.1

Additional purchase:

Minimum – Rs.500 and thereafter in multiples of Re.1

SIP Monthly minimum: Rs.500
Product label – Risk and target investors

Risk : Moderately high risk

Target Investors: This product is suitable for investors who are seeking long term capital growth and those who wish to invest in equity and equity related securities, with tax benefits under section 80C, provided he is eligible.

Benchmark

S&P BSE 200 is the benchmark.

The S&P BSE 200 includes equity shares of 200 selected companies from the specified and non-specified lists of BSE. The selection of companies is primarily done on the basis of current market capitalization. The market activity of the companies reflected by their volumes of turnover and certain fundamental factors were considered for the final selection of the 200 companies.

SWP No, investors do not have the option withdrawal plan.
STP No, Birla Sun Life Tax Relief 96 does not allow systematic transfer plan.
Redemption Redemption time is 3 days.
Taxation (on investment and on redemption) Each investor must consult with his own tax advisors with respect to the specific amount of tax and other implications arising out of his participation in the scheme.

Fund manager

Mr. Ajay Garg manages Birla Sun Life Tax Relief 96. He is a Senior Fund Manager for Birla Sun Life. He has a Bachelors in Electronic Engineering and has a MBA in Finance. Mr. Ajay who is 40 years old has over 15 years of work experience in financial services. Before he joined Birla Sun Life Asset Management Company Ltd. he was working with Birla Sun Life Securities Ltd.

Investment philosophy or strategy

The scheme aims for a long term growth of capital through a portfolio with target allocation of 80 percent equity and 20 percent debt and money market securities.

Portfolio – Sector / Top 10 holdings

Issuer Sector Percentage
Sundaram Clayton Ltd. Automotive 5.94
Honeywell Automation India Ltd. Telecommunication 5.61
Bayer CropScience Ltd. Chemicals 5.33
ICRA Ltd. Miscellaneous 4.88
Kotak Mahindra Bank Ltd. Banking/ Finance 4.23
MRF Ltd. Automotive 3.61
Zee Entertainment Enterprises Ltd. Media and entertainment 3.07
Sterling Holiday Resorts India Ltd. Services 3.06
Pfizer Ltd. Pharmaceuticals 3.02
Bosch Ltd. Automotive 2.95

Risk measures

Sharpe As on 31st July, 2015 it is 1.25.
Alpha NA.
Beta As on 31st July, 2015 it is 0.96
Standard Deviation As on 31st July, 2015 it is 15.01%.

Performance

AUM for April- June 2015 Rs.1,964.79 crores
NAV (as on 30th June, 2015)

Regular Plan-

Growth: Rs.22.36

Dividend: Rs.140.15

Direct Plan-

Growth: Rs.22.80

Dividend: Rs.157.35

Returns and Benchmark comparison
Date Scheme returns S&P BSE 200 CNX Nifty
Since Inception (till 30th June, 2015) 10.91 7.46 7.52
30th June, 2014- 30th June, 2015 30.28 12.01 9.95
30th June, 2013- 30th June, 2014 45.21 34.45 30.28
30th June, 2012- 30th June, 2013 12.35 8.69 10.67
Expenses
Daily Net assets Birla Sun Life Tax Relief 96 expenses
First 100 crores 2.50%
Next 300 crores 2.25%
Next 300 crores 2%
Balance assets 1.75%

Expert view of the fund + outlook

The Birla Sun Life Tax Relief 96 is suitable for saving on tax outgo, creating wealth and to meet requirements of lifestyle needs. This scheme is however not suitable to fund your child’s education or marriage. Don’t take this scheme if you are planning on using it for retirement or to buy a house. The investor needs to know that there is a lock-in period of 3 years on the fund. New investors can skip this fund. If you have already invested, keep a close eye on its performance. Those who invest in this fund are qualified for tax benefits under section 80C ELSS. This means the investor can invest up to Rs.1 lakh a year in this fund and the amount will be deducted from your gross total income while your income tax is being computed.

How to apply – online + distributors

You can buy the Birla Sun Life Tax Relief 96 through both the online as well as the offline platform.

For applying through the online platform, you have to visit the Mutual Fund Birla Sun Life webpage. You can invest online or you can ask for an advisor. The webpage has an application form available as well, which you can fill out and submit. To invest online, you need to key in your username or your folio number and your password that has been provided to you. You also need to key in your PAN card details as and when required. In order to apply offline, you will have to physically approach the Birla Sun Life branch and submit your KYC form. You will then have to fill up all the application forms and then submit the form at the respective counter. If needed, you can also ask the executives to give you further clarification on the fund.

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