The scheme seeks to generate consistent long-term capital appreciation by investing predominantly in equity and equity related securities by following value investing strategy i.e buying into stocks that are trading for less than their intrinsic value - stocks that the market is undervaluing.
Originally a closed ended fund, it was converted into an open-ended fund in March 2011. Its best performance has been in the last year, when it beat its benchmark by 63 per cent and offered around 100 per cent returns. The fund has chequered past. In fact, it has managed to outperform the benchmark in all the six years of its existence. Also, it has lagged behind the category average only twice in these years. Among the top five performing funds in terms of three-year performance, its five-year returns of 20 per cent surpass the benchmark returns by 11 per cent.
Though its current portfolio is more inclined towards mid-cap stocks, in which it has investments of up to 54 per cent, it is not a small- and mid-cap fund as per its investment mandate. Its mandate is to pick value stocks. The fund increases its small-cap exposure whenever it finds the right picks. The fund doesn't like to deviate from its core of value investing and the philosophy is reflected in its stock picks. Stocks that don't fall in the value investing category don't find a place in its portfolio. The fund also doesn't compromise on corporate governance quality.
The fund is ideal for conservative equity investors who would like to explore the universe of mid-cap stocks purely on the basis of value investing. They can use the fund to invest in companies that have some value rather than chase momentum stocks. This strategy could be crucial in the coming days as mid- and small-cap universe has rallied the most in the recent past.
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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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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