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Sunday, December 27, 2015

AXIS Long Term Equity Fund - The Best Tax Saver Fund for 2016

 

AXIS Long Term Equity Fund - Invest Online

 

History: The open ended mutual fund was launched on December 21 in the year 2009. It is benchmarked against BSE 200 and managed by the fund manager JINESH GOPANI. Initially the scheme was called as Axis tax saver fund but later it was renamed as Axis long term equity fund with effect from September 2, 2011.

Nature of investment:

As far as asset allocation is concerned, 97.52% of the stocks are equity and 0.02% is debt based. The primary focus of the fund is to invest in diversified equity stocks that have higher growth potential. Total asset size of the fund is in the tune of 4,996 CRORE as of June 30, 2015.

Performance:

The performance of the fund for one year, 3 years and 5 years are 23.6%, 29.9% and 19.1 respectively which are far greater than 6.4%, 14% and 5.6% benchmark figures.

It has also preformed fairly well against SBI magnum Tax Gain (G) and HDFC tax saver (G). The growth comparison is enumerated below;

                                             1 year                     3 year               5 year

SBI magnum tax (G)     14.6%                   20.5%               11.5%

HDFC tax saver (G)       5.4%                     17.8%                 8.8%

The above growth figures are far less than that of the Axis long term equity fund.

Portfolio:

It is a generally a large cap fund with 40.74% of the stocks dedicated to giant organizations whereas 28.47% and 29.17% of the equity is assigned to large and mid cap companies. As far as volatility is concerned the standard deviation of the fund is 13.25% as compared to 14.09% of the benchmark figure. The Sharpe ratio is 1.5% which guarantees better returns on risk per unit of the mutual fund.

Conclusion: The tax saving fund is an excellent scheme to park money as it focuses on the domestic market to obtain higher returns. Majority of the funds are invested in sectors which are not cyclic and regulated because it can have a direct impact on the returns. A drawback of the fund is that its stocks are priced at a premium and might fall if the market falls.

Best Tax Saver Mutual Funds for 2016 or Top ELSS Mutual Funds for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. IDFC Tax Advantage (ELSS) Fund

4. ICICI Prudential Long Term Equity Fund

5. Religare Tax Plan

6. Franklin India TaxShield

7. DSP BlackRock Tax Saver Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. HDFC TaxSaver

Invest Rs 1,50,000 and Save Tax under Section 80C. Get Good Returns by Investing in ELSS Mutual Funds Online

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