Canara Robeco Equity Taxsaver Fund (Growth)

Canara Robeco Equity Taxsaver Fund- Growth is an open-ended equity-linked savings scheme ELSS. An equity-linked savings scheme provides long-term capital appreciation and growth along with tax saving under Direct Taxes. Being a diversified ELSS the scheme invests in large-cap and select mid-cap companies. The portfolio comprises growth-oriented and fundamentally strong companies. The fund has the capability of being a part of the core investment portfolio of an investor.  

On average, the fund invests 80% to 100% of its assets in equity and equity-related instruments. While the investment in debt and money market instruments is 0% to 20% of its corpus. Due to the nature of the fund, the lock-in period is 3 years. Hence, an investor seeking a long-term investment plan couple with tax-saving may consider investing in this fund. The fund is co-managed by Mr. Shridatta Bhandwaldar, and Mr. Vishal Mishra.

Canara Robeco Equity Taxsaver Fund- Growth Investment Objective

The investment objective of the scheme is to provide long-term capital appreciation by predominantly investing in equities and to facilitate the subscribers to seek tax benefits as provided under Section 80C of the Income Tax Act, 1961. However, there can be no assurance that the investment objective of the scheme will be realized. Canara Robeco Equity Taxsaver Fund- Growth provides a dual benefit of long-term growth and tax savings. 

ELSS qualify for a tax deduction of up to Rs 1.5 lakh under section 80C of the Income Tax Act, 1961. As of 29th June 2021, the scheme allocates 97.58% of its assets in equities and 2.52% of its assets in others.

Canara Robeco Equity Taxsaver Fund- Growth Scheme Details

On 2nd February 2009 Canara Robeco Mutual Fund launched Canara Robeco Equity Taxsaver Fund- Growth. With existence of 12 years, the fund continuously provide long-term appreciation consistently fulfilling its investment objectives to its investors.

NAV and Returns – The NAV of the fund as of 29th June 2021 is Rs 103.91. The risk-o-meter of the fund is very high risk. Hence, an investor must understand that their principal amount of investment will be at very high risk. Canara Robeco Equity Taxsaver Fund-Growth has delivered a return of 20.80% since its inception.

Minimum Investment – The fund requires a minimum SIP investment of Rs 500. To make a lump sum investment an investor must invest a minimum amount of Rs 500.

Expense Ratio and Exit Load – The fund charges an expense ratio of 2.14% on the units of the mutual funds at the NAV. The does not charge an exit load.

Fund Manager – The fund is co-managed by Mr. Shridatta Bhandwaldar and Mr. Vishal Mishra. Mr. Shridatta Bhandwaldar comes with the experience of 14 years in fund management. He has been managing the fund since 1st October 2019. Mr. Shridatta manages 8 open-ended schemes of Canara Robeco Mutual Fund. Currently, Mr. Bhandwalda is the Head of Equities at Canara Robeco Asset Management Co. Ltd. Mr. Vishal Mishra has been managing the fund since 28h June 2021. He possesses a wide experience of over 10 years in the field of equity research & credit research. 

Other Details – Due to the nature of the scheme, the fund has a lock-in period of 3 years from the date of the initial investment. An investor cannot redeem any number of units before the expiry of the tenure of 3 years. As of 29th June 2021, the AUM of Canara Robeco Equity Taxsaver Fund- Growth is Rs 2,227 cr. The fund benchmarks to S&P BSE 100 India TR INR and aims to beat the benchmark through active management of the portfolio.

Canara Robeco Equity Taxsaver Fund- Growth Top Stock Holdings

The Canara Robeco Equity Taxsaver Fund-Growth has invested its assets majorly in the stocks of the following companies:

Asset Allocation of Canara Robeco Equity Taxsaver Fund- Growth

The Canara Robeco Equity Taxsaver Fund-Growth has invested in the following sectors:

Canara Robeco Equity Taxsaver Fund- Growth Review

Canara Robeco Equity Taxsaver  Fund-Growth is recommended by Scripbox within the equity-linked tax saving mutual fund category. Tax saving mutual funds provide inflation-beating growth and appreciation over the long term. ELSS is suitable for an investment goal of capital appreciation and tax saving under direct taxes. 

1. With an existence of over 12 years, the fund has sufficient history for analysis of the fund. The track record is good.
2. With an AUM or relative size of Rs 2,227 cr, the fund has a large size within its category of tax-saving mutual funds.
3. Over a period of time, the funds have been performing well consistently by achieving benchmark beating returns. 

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