Aditya Birla Sun Life Tax Relief 96 Fund - A Relief for Tax Payers

It is every individual’s dream to save tax. Market provides various options to do so. Some of such options are investing in PPF, ELSS mutual fund schemes, tax saving FDs, etc. The trick is to find the best suitable option that can help an individual save money and tax in the most rewarding way. When we talk about ELSS mutual fund, it is that category of mutual fund that provides tax relief under Section 80C of the Income Tax Act, 1961. ELSS or Equity Linked Savings Scheme is the mutual category under which various schemes are provided by different AMCs. Aditya Birla Sun Life Mutual Fund is one such AMC. This AMC of Aditya Birla Group provide schemes under various categories for investors to invest in which has been benefiting the investors all over India. The scheme that this AMC provides under ELSS category is Aditya Birla Sun Life Tax Relief 96 Fund. Aditya Birla Sun Life Tax Relief 96 Fund This scheme started on March 29, 1996 with an aim to provide tax relief benefit along with the investment opportunity. Objective The objective of Aditya Birla Sun Life Tax Relief 96 Fund is to earn long-term capital appreciation by investment made predominantly in equity and equity related instruments at least up to 80%. It invests the rest in debt and money market instruments. It is an open-ended investment scheme that uses top-down and bottom-up approach while selecting the stocks to invest in. Fund Manager This fund is managed by Mr. Ajay Garg since October 2006. He has done B.E. in electronics and M.B.A. in Finance. He joined Aditya Birla AMC in the year 2003 before which he worked with Aditya Birla Sun Life Securities Ltd. Some Key Details It has currently 96.76% investment in equity and the rest in debt and money market instruments. The investment made in large-cap, mid-cap, small-cap and giant-cap equities is 13.61%, 52.75%, 6.33 and 27.32%. Aditya Birla Sun Life Tax Relief 96 Fund has invested maximum in three sectors which are Financial, Healthcare, and Automobile sector. Although compared to its benchmark NIFTY 200, it has made less investment in Financial sector whereas more in Healthcare and Automobile sector. The top three companies in which Aditya Birla Sun Life Tax Relief 96 Growth Fund has invested the most are Honeywell Automation (Engineering sector) with 6.65% of its assets, Sundaram-Clayton (Automobile sector) with 6.55% of its assets and Gillette (FMCG) with 6.18% of its assets. The risk involved in Aditya Birla Sun Life Tax Relief 96 Fund is moderately high. You can invest in this scheme with a minimum amount of Rs. 500 in lump sum or SIP. There is no exit load in this scheme. The Net Asset Value of Aditya Birla Sun Life Tax Relief 96 Growth Fund is Rs. 31.3 as on June 04, 2018. The assets under management is Rs. 6060 crore as on April 30, 2018. Its lock-in period is 3 years. So, if you are looking for a dual benefit scheme with tax saving and investment option then, you can invest in Aditya Birla Sun Life Tax Relief 96 Fund by Aditya Birla Mutual Fund.