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  • Reliance Tax Saver (ELSS) Fund (G)

    Reliance Tax Saver (ELSS) Fund(G)
    Dividend Yearly
    NA
    Category
    Equity - Tax Saving
    52-week NAV high
    70.49  (As on 23-01-2018)
    52-week NAV low
    49.58  (As on 26-10-2018)
    Expense
    2.25%  (As on 30-11-2018)

    Performance

    1 mnth 3 mnth 6 mnth 1 yr 2 yr 3 yr 4 yr 5 yr 10 yr
    Fund Returns -2.69 -8.77 -8.91 -21.31 3.82 6.59 3.27 16.97 -
    Scheme Details
    Fund Type
    Open Ended
    Investment Plan
    Growth
    Bonus
    NA
    Launch Date
    Sep 21, 2005
    Last Dividend
    NA
    Minimum Investment
    500
  • Reliance Mutual Fund (RMF) is one of the top mutual fund companies operating in India with over Rs.2.4 lakh crore worth of assets under management. The company has extensive presence all over the country with offices in all major cities. RMF offers a diverse range of mutual fund offerings for its customers and aims to provide value to their investments. Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option is an open-ended equity scheme that focuses on long-term capital appreciation. This scheme comes in flexible options to cater to the investment requirements of customers.

    Investment objective of Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    This scheme focuses on generating long-term capital appreciation through investments made in equity and equity-related instruments.

    Key features of Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    Some of the notable features of Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option can be listed as follows:

    Type of fund Open-ended equity linked savings scheme
    Plans available The following plans are offered under this scheme:
    • Growth Plan
    1. Growth Option
  • Dividend Plan
    1. Dividend Payout Option
    2. Annual Dividend Payout Option
  • Direct Plan - Growth Plan
    1. Growth Option
  • Direct Plan - Dividend Plan
    1. Dividend Payout Option
    2. Annual Dividend Payout Option
    Options under each plan
    • Growth option
    • Dividend Payout Option
    • Annual Dividend Payout Option
    Risk Moderately high
    Systematic Investment Plan Available
    Systematic Transfer Plan Available
    Systematic Withdrawal Plan Available

    Investment amount for Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    Minimum investment amount Rs.500 and in multiples of Rs.500 thereafter
    Minimum additional investment Rs.500 and in multiples of Rs.500 thereafter
    Minimum installment for Systematic Investment Plan (SIP)
    • Rs.500 in the first month and in multiples of Rs.500 thereafter for at least 12 months
    • Rs.1,000 in the first month and in multiples of Rs.500 thereafter for at least 6 months
    • Rs.500 in the first quarter and in multiples of Rs.500 thereafter for at least 12 quarters
    • Rs.1,500 in the first quarter and in multiples of Rs.500 thereafter for at least 4 quarters
    • Rs.5,000 in the first year and in multiples of Rs.500 thereafter for at least 2 years
    Minimum installment for Systematic Transfer Plan (STP) Switch-in transactions
    • Daily option - Minimum of Rs.500 and in multiples of Rs.500 thereafter
    • Weekly/fortnightly/monthly option - Minimum of Rs.1,000 and in multiples of Rs.500 thereafter
    • Quarterly option - Minimum of Rs.3,000 and in multiples of Rs.500 thereafter
    Switch-out transactions
    • Daily option - Minimum of Rs.100 and in multiples of Rs.100 thereafter
    • Weekly/fortnightly/monthly option - Minimum of Rs.1,000 and in multiples of Rs.100 thereafter
    • Quarterly option - Minimum of Rs.3,000 and in multiples of Rs.100 thereafter
    Minimum installment for Systematic Withdrawal Plan (SWP) Rs.500 and in multiples of Rs.100 thereafter
    Entry load N/A
    Exit load Nil

    *Note: A minimum balance of Rs.5,000 must be maintained by unitholders before opting for the STP facility.

    Asset allocation of Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    Instruments Allocations (percentage of total assets) Risk profile
    Minimum Maximum
    Equity and equity related securities 80% 100% High
    Debt and money market instruments 0% 20% Low to Medium

    Who can invest in Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    The following entities can subscribe to the units of this mutual fund:

    • Resident adults living in India, either singly or jointly (maximum of three)
    • Parents or legal guardians (on behalf of minors)
    • A Hindu Undivided Family (HUF) through its Karta
    • Societies registered under Societies Registration Act, 1860
    • Companies and corporate bodies
    • Public sector undertakings
    • Banks, financial institutions, and investment institutions
    • Partnership firms
    • Other mutual funds registered with SEBI
    • Foreign institutional investors (FIIs) registered with SEBI
    • Foreign portfolio investors
    • Non-resident Indians and persons of Indian origin
    • Charitable and religious trusts
    • Eligible institutions of army, navy, air force, and other paramilitary organisations
    • Industrial research and scientific organisations
    • Insurance companies and corporations registered with the IRDA
    • Overseas financial organisations that have invested in India
    • Retirement and employee benefit funds such as provident fund, pension, gratuity, etc.
    • Qualified Foreign Investors

    *Note: The given list is just indicative. Investors can consult with their professional financial advisors to know whether this scheme is suitable for them.

    NAV Disclosure and Benchmark for Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    The company will calculate and disclose the NAV information of the fund as per the guidelines set forth by SEBI. The NAV information will be published in at least 2 daily newspapers every day. The net asset value of the scheme will also be updated every business day on AMFI’s official website (www.amfiindia.com) and the company’s official website (www.reliancemutual.com). If the NAV is not updated for any reason, the company will issue a press release explaining the reason for it.

    The portfolio of the fund will be communicated to investors on a half-yearly basis. The portfolio details will be sent to the investors directly or published under the publications prescribed by the guidelines. Portfolio information till the last date of the prescribed month shall be disclosed within the 10th day of the succeeding month. Portfolio details will also be updated in the company’s official website (www.reliancemutual.com).

    The benchmark index for this scheme is S&P BSE 100 Index.

    Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option Fund Manager

    This scheme is currently being managed by Mr. Ashwani Kumar, who is a senior fund manager with over 24 years of experience in capital markets. He has been managing this scheme since September 2005. This scheme’s overseas investments are being managed by Jahnvee Shah, who has been managing this scheme since April 2011.

    Investment restrictions of Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    This scheme complies with the rules and regulations set forth under the SEBI (Mutual Funds) Regulations, 1996. As per these regulations, the restrictions applicable to this scheme can be listed as follows:

    • Investments in money market instruments and non-money market instruments issued by a single issuer shall not exceed 10% of the fund’s NAV. This can be increased to 12% after approval from the Board of Trustees and the company’s Board of Directors.
    • Investments in unrated debt instruments issued by a single user shall not exceed 10% of the fund’s NAV. The overall investments in unrated debt instruments shall not exceed 25% of the NAV.
    • The investment restrictions applicable to debt instruments shall also apply to debentures.
    • The maximum exposure to debt schemes shall not exceed 20% of the fund’s net assets.
    • Transfer of investments from one scheme to another is allowed on condition that a) the transfers are done at the prevailing market price and b) the investment objectives of the scheme are satisfied.
    • The mutual fund (all its schemes) shall not own more than 10% of the paid up capital voting rights of any company.
    • This scheme may invest in other schemes of Reliance or other asset management companies on condition that the total inter scheme investment does not exceed 5% of the NAV.
    • This scheme shall buy and sell securities on the basis of deliveries.
    • When the investments are intended for a long term, the securities shall be purchased or transferred in the name of the fund.
    • This scheme shall not invest in any fund of fund schemes.
    • This scheme shall not invest in a) unlisted securities of an associate or group company of the sponsor, b) securities issued through private placement of an associate or group company of the sponsor, and c) listed securities of the sponsor’s group companies which is in excess of 25% of the net assets of the scheme.
    • Investments in unlisted equity and equity related instruments shall not exceed 5% of the fund’s NAV.
    • Investments in a particular company’s equity and equity related instruments shall not exceed 10% of the fund’s NAV.
    • Short term deposits in commercial banks are allowed in case of pending deployment of funds in securities that are in line with the investment objectives of the scheme. However, this short-term parking of funds shall not exceed 91 days.
    • Investments in overseas securities are allowed from time to time within the regulations issued by SEBI.
    • This scheme shall not provide any term loans for any purpose.
    • The aggregate value investments in illiquid securities (non-traded, thinly traded, and unlisted equities) shall not exceed 15% of the NAV.
    • Investments made in any particular sector shall not exceed 25% of the scheme’s net assets.

    Dividend policy of Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    The growth plan is designed for investors who wish to generate capital appreciation rather than regular income. Hence, there will be no dividends declared under the growth plan of this scheme. The returns generated under this plan will be used to boost the NAV of the units. The NAV of the growth plan will remain unaffected by the dividends paid in other plans.

    Other facilities under Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    This scheme offers the following special products for investors:

    • Systematic Investment Plan (SIP): This facility allows investors to invest a fixed amount at regular intervals rather than spending a lump sum. Through this way, investors can average out the purchase price of the fund without worrying about fluctuating market prices. Moreover, SIP option helps one accumulate their savings within their monthly budget.
    • Systematic Transfer Plan (STP): In this facility, a certain amount is transferred at regular intervals to another mutual fund scheme offered by Reliance MF. Investors can choose the amount they wish to transfer and the frequency of investment. There are different options available within the STP facility. To opt for the STP facility, an investor must maintain a minimum balance of Rs.5,000 in his/her folio.
    • Multiple Systematic Transfer Plan: This is similar to the STP facility in terms of transferring money from one fund to another. However, this facility allows investors to transfer money to more than one scheme offered by Reliance MF. Similar to the regular STP facility, investors can choose the amount of transfer and the frequency of investment.
    • Reliance SIP Insure: In a bid to promote SIP among investors, Reliance is now offering this facility wherein a group term insurance plan is offered for SIP investors free of charge. This add-on life insurance cover will take care of the unpaid installments if the insured meets with an unfortunate demise during the SIP tenure.
    • Reliance Salary Advantage: This is an SIP plan designed primarily for employers to provide SIP facility for their employees. Here, employers may deduct a certain amount from the monthly salary of their employees and invest in this fund. This facility provides the flexibility of choosing any working day for making the SIP investment.
    • Dividend Transfer Plan (DTP): This facility applies to the dividend option of the Reliance Tax Saver (ELSS) Fund. Here, the dividend earned in this scheme can be transferred to another scheme for investment. Units will be allocated as per the NAV of the transferee scheme.
    • Systematic Withdrawal Plan (SWP): This facility allows investors to withdraw a certain amount from the fund at regular intervals. A minimum amount of Rs.500 (and in multiples of Rs.100 thereafter) can be withdrawn from the fund in weekly, monthly, quarterly, half-yearly, or annual payments.
    • Flexible Asset Selection Tool (FAST): This tool is designed to cater to the individual needs of investors in the market. It provides customized investment solutions based on the specific investment objective of unitholders. Based on an investor’s risk profile, the tool devices a proprietary model to suggest allocation of funds under various schemes offered by Reliance MF.

    *Note: To avail full information about the special products offered by the company, please check the fund’s scheme information document.

    Why you should invest in Reliance Tax Saver (ELSS) Fund - Growth Plan - Growth Option

    Though the risk is significantly higher in equity schemes, the returns are much higher compared to schemes that invest predominantly in debt instruments. Moreover, this is an open-ended scheme that allows investors to withdraw their funds anytime they want. This fund has witnessed nearly 20% growth in the last 5 years. With the diverse range of portfolio in various sectors, the overall risk is mitigated to some extent. The flexible options provided under this scheme allows investors to maximize their wealth through different types of special products.

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

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