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  • DSP Tax Saver Fund-Reg(D)

    DSP Tax Saver Fund-Reg(D)
    Dividend Yearly
    0.51  (As on 09-11-2018)
    Category
    Equity - Tax Saving
    52-week NAV high
    49.82  (As on 23-01-2018)
    52-week NAV low
    40.77  (As on 26-10-2018)
    Expense
    2.08%  (As on 31-10-2018)

    Performance

    1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
    Fund Returns 1.85 -5.42 -4.36 -7.04 9.64 12.11 9.68 17.29 -
    Scheme Details
    Fund Type
    Open Ended
    Investment Plan
    Dividend
    Bonus
    NA
    Launch Date
    Jan 18, 2007
    Last Dividend
    0.51
    Minimum Investment
    500
  • DSP Mutual Fund is a joint venture of the DSP Group with DSP. The DSP Group is one of India’s oldest financial companies while DSP is the largest investment management company in the world. The fund house is one of the biggest asset management firms in India. DSP Mutual Fund offers around 32 schemes across various asset classes - equity, debt, hybrid, solutions, and Fund of Funds (FoFs).

    The DSP Tax Saver Fund - Regular Plan - Dividend is an open-ended equity-linked savings scheme (ELSS) with a 3-year statutory lock-in period and offers tax benefits to the investor. The dividend option of the scheme entitles investors to receive regular income.

    Investment Objective:

    To produce capital gains for the investor over a medium and long term through investment in a portfolio that predominantly consists of equity and its related securities of corporates while also offering tax benefits under Section 80C of the Income Tax Act, 1961.

    Key Features:

    The DSP Tax Saver Fund is ideal for investors who wish to achieve capital appreciation over medium to long term and exhibits the below features:

    Type of fund An open-ended equity-linked savings scheme
    Plans available Growth Dividend - Payout
    Options under each plan The dividend option has payout option
    Risk Moderately High
    Systematic Investment Plan Available
    Systematic Transfer Plan Available
    Systematic Withdrawal Plan Available

    Investment amount for DSP Tax Saver Fund:

    Minimum Application Amount Rs.500 and any amount thereafter
    Minimum Additional Investment Rs.500 and any amount thereafter
    Minimum installment for Systematic Investment Plan (SIP) Rs.500 (subject to completion of 3 years lock-in period)
    Minimum installment for Systematic Withdrawal Plan (SWP) Rs.500 (subject to completion of 3 years lock-in period)
    Entry Load Not Applicable
    Exit Load Not Applicable

    Asset Allocation for DSP Tax Saver Fund:

    Instruments Percentage of total assets Risk Profile
    Minimum Maximum
    Equity and its related securities 80% 100% High
    Equity and its related securities of which investments in GDRs, ADRs, and foreign equity securities 0% 20% High
    Debt, securitised debt and money market instruments 0% 20% Low to Medium

    Who can invest in DSP Tax Saver Fund?

    Investments in DSP Tax Saver Fund can be made by the below-mentioned persons/entities:

    • Adult individuals residing in India, either singly or jointly (cannot exceed 3 individuals)
    • Karta of Hindu Undivided Families
    • Minors through a legal guardian or parent
    • Persons of Indian Origin (PIO)/Non-Resident Indians (NRIs), on repatriation or non-repatriation basis
    • Limited Liability Partnerships and Partnership firms
    • Association of Persons or Body of Individuals
    • Religious and Charitable Trusts, Wakfs or endowments of private trusts
    • SEBI registered Foreign Portfolio Investor
    • Financial institutions and banks (including Regional Rural Banks and Co-operative Banks)
    • Scientific and Industrial Research Organisations
    • Corporate bodies and companies registered in India
    • Universities and educational institutions
    • Army, Navy, Air Force, and other paramilitary funds
    • Proprietorship in the name of the sole proprietor
    • International Multilateral Agencies approved by the RBI and Government of India
    • Mutual fund schemes registered with SEBI (Securities and Exchange Board of India)
    • Pensions/Gratuity/Provident Fund to a permissible extent
    • AMC/Trustee or Sponsor or their associates

    NAV Disclosure and Benchmark for DSP Tax Saver Fund:

    The Net Asset Value (NAV) for this scheme is calculated by dividing the net assets of the scheme by the number of units that are outstanding on the date of valuation. The Asset Management Company (AMC) will compute the NAV of the scheme at the end of every business day and will be rounded off to 3 decimal places.

    The details of the portfolio will be sent for publication to newspapers before 1 month of each half-year. The website of the DSP Mutual Fund (www.dspDSP.com) will also display the full portfolio of the scheme. The monthly portfolio can also be downloaded from the same site on or before the tenth day of the succeeding month.

    Liquidity: Investors will be available to redeem units only after 3 years from unit allotment date. The redemption proceeds will be dispatched by the fund house within 3 working days from redemption request acceptance date.

    Benchmark: Nifty 500 Index

    Fund Manager:

    Mr. Rohit Singhania

    The DSP Tax Saver Fund is managed by Mr. Rohit Singhania who has been managing the fund since July 2015. He joined DSP in September 2005 and overall has an experience of around 18 years. The other funds managed by him are DSP Equity Opportunities Fund, DSP India T.I.G.E.R Fund, and DSP Natural Resources and New Energy Fund.

    Investment Restrictions on DSP Tax Saver Fund:

    The DSP Tax Saver Fund is required to abide by the below-given investment restrictions laid down by the Securities and Exchange Board of India (SEBI):

    • The scheme is not permitted to make investments in - any unlisted security of a group company or associate of the sponsor, any security issued by private placement, and any listed securities of sponsor’s group company which is more than 25% of the net assets.
    • The scheme is not allowed to invest above 10% of its NAV in debt securities that have been issued by a single issuer and rated above the investment grade by a credit rating agency. This limitation will not be applicable to investments in treasury bills, government securities, and CBLO (Collateralised Borrowing and Lending Obligation).
    • The mutual fund cannot own above 10% of any firm’s paid-up capital carrying voting rights.
    • The scheme cannot invest above 10% of its NAV in equity and its related securities of any firm or listed securities or venture capital fund units.
    • No scheme is allowed to invest above 5% of its NAV in unlisted securities/equity shares/venture capital fund units/equity related securities.
    • The cumulative gross exposure of the scheme cannot exceed 100% of the net assets through debt, equity, and derivatives position.
    • The scheme is not permitted to invest in any Fund of Funds (FoFs) scheme.
    • All the investment restrictions shall apply at the time of making investments.

    Dividend Policy of DSP Tax Saver Fund:

    Investors who have opted for the dividend option will be entitled to receive dividends and it will be at the discretion of the Trustee. Under the dividend policy of the DSP Tax Saver Fund, investors can avail the Payout Dividend option only. The reinvest dividend option was discontinued effectively from 6 February 2015.

    The Payout Dividend option entitles the investors to receive regular income in the form of dividends which will comprise realised profits and net income. The dividend warrants will be dispatched by the mutual fund before 30 days from dividend declaration date. Eligible investors will receive the payout either through a cheque or directly into their bank account.

    After the dividend is declared, the NAV of the scheme will be reduced by the applicable dividend distribution surcharge/tax/cess or any other statutory levy.

    Other Facilities offered by the DSP Tax Saver Fund:

    The DSP Tax Saver Fund offers the below facilities for the benefit of its unitholders:

    • Systematic Investment Plan (SIP)
    • Systematic Withdrawal Plan (SWP)
    • Systematic Transfer Plan (STP)
    • Switching
    • Personal Identification Number (PIN)
    • Pledge of Units for Loans
    • Dividend Transfer Plan
    • My Target Value Savings Account Facility
    • One Time Mandate

    Why you should invest in DSP Tax Saver Fund:

    • Investors subscribing to the units of DSP Tax Saver Fund can claim tax deductions of up to Rs.1.5 lakh per financial year under Section 80C of the Income Tax Act, 1961.
    • Since the scheme has a lock-in period of 3 years, it enables the investments to participate in the growth potential of equity markets in the long turn.
    • The units of the DSP Tax Saver Fund can be pledged by the investors for raising loans, as a security.
    • The ‘My Target Value Savings Account Facility’ offered by the DSP Tax Saver Fund allows investors to define a Target Value and invest in a different scheme of the same mutual fund either through lump sum or SIP in a unique account known as the ‘My Target Value Savings Account Facility’ that has been created for the purpose.
    • For an amount as low as Rs.500, investors can invest in the units of the DSP Tax Saver Fund and get an opportunity to grow their capital.

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    GST rate of 18% applicable for all financial services effective July 1, 2017.

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