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BNP Paribas Long Term Equity Fund

A ELSS Fund

The scheme aims to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent from time to time.

The fund was rated five stars for the first time in October 2013. Since then, it has been rated five stars in the last ten out of 13 months. The fund turned around in 2010 after struggling in its initial years. It posted its highest returns in 2011 when it beat its benchmark by 12 per cent. The better performance coincides with the change in the management in the same year. The fund has outperformed the benchmark by 7 per cent in the three- and five-year periods. Among the top five performers in the five-year period, the fund has performed well in both bear and bull phases in the last few years.

It is biased towards large-cap stocks in its portfolio and its exposure to mid-cap stocks is lower than its peers'. Currently, the fund is overweight on stocks in sectors such as communications, services, financials and engineering as compared to its benchmark. The fund believes that companies make money for investors and it picks companies based on its investment philosophy of 'BMV': book value, management and valuations.

The fund is currently betting on private sector banks, telecom and cement. The fund is also investing in some companies in the oil and gas sector as well as in the consumers of crude derivatives as it believes that falling commodity prices, especially crude, will benefit them. It is underweight on mining, metals and FMCG sectors. This tiny fund (it manages only around R300 crore) is suitable for investors with a moderate risk appetite.


Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

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