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Religare Tax Plan

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Call 0 94 8300 8300 (India)

 

We like this fund for its diversification and unrestricted style that allows it to invest across sectors and market capitalisation.

Strategy
This fund invests across market capitalisation and sectors using the bottom-up approach and maintains a tight portfolio of less than 50 stocks. In its early years this fund followed a multi-cap aggressive approach before changing its orientation to a large-cap fund. The fund manager avoids momentum and cyclical plays, which has helped it maintain its performance in both bull and bear market cycles. The mid- and small-cap stock allocation was into quality and growth stocks of companies with healthy balance sheets and substantial cash reserves.

The fund manager has maintained an average of over 60 per cent exposure in financial, energy, FMCG, technology and healthcare over the past three years. There is no cap on exposure to a single stock, which results in several stocks with more than five per cent exposure regularly featuring in the portfolio. In the past year, this fund has been overweight on FMCG and the services sector, a strategy that has helped its performance in times of uncertainty.

Performance
A regular top-quartile performer, this fund has consistently done better than the category average irrespective of the market movement. In 2008, this fund benefited from being underweight in technology and metals and the increased exposure to quality mid-cap stocks like Oriental Bank of Commerce, Castrol India and Indian Bank, helped it check the fall in its performance.

Since 2009, the large-cap allocation has been on the rise, providing performance stability. The fund has a concentrated portfolio with exposure to top-10 stocks adding up to about 45 per cent of the portfolio. In the past 18 months, the fund manager has maintained a buy and hold strategy with 24 stocks accounting for an average 58 per cent of net assets with Maruti Suzuki being a favourite for more than 5 years. In 2011, it managed to check its fall once again by being underweight in metals and overweight in FMCG. Ability to take select cash calls has also helped this fund fare well.

Why invest?
This is a go anywehere fund which is wll diversified across time periods in a well defined portfolio of stocks from the BSE 200, which has been rewarding long-term investors.

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

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You can write back to us at PrajnaCapital [at] Gmail [dot] Com

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

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Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
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  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
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  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
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  9. Edelweiss ELSS Invest Online

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