Canara Robeco Equity Taxsaver fund (Growth) is recommended for investment within tax saving mutual funds.
Tax saving funds provides tax saving with inflation beating growth over the long term and is suitable for investment objectives with duration of 10-15 years or longer (minimum 5 years).
Invest in this fund as part of a scientific Scripbox plan. Explore the plan below.
Tax Saver Plan
Invest in a scientifically curated set of tax saving funds (ELSS) which are designed to help you save tax under Sec. 80C while offering the opportunity for growth in line with equity returns.
No single fund can achieve what a plan can. Learn why
Historical NAV
₹ 120.41
NAV (Jan 19)
Fund Returns
Last 1Y
33%
Last 3Y
24.8%
Last 5Y
20.5%
Last 10Y
17.5%
Since Inception
21.2%
6 Month CAGR
13.6%
Scheme Information
Investment Objective
ELSS seeking to provide long term capital appreciation by predominantly investing in equities to facilitate the subscribers to seek tax benefits as provided under Section 80 C of the Income Tax Act,1961. However,there can be no assurance that the investment objective of the scheme will be realized.
Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully before investing. Past performance is not an indicator of future returns.
Canara Robeco Asset Management Co. Ltd. manages assets worth 49,295 crores and was set up on 2 March 1993. It's current offering of mutual fund schemes includes 22 equity,41 debt and 8 hybrid funds.
Invest in a scientifically curated set of tax saving funds (ELSS) which are designed to help you save tax under Sec. 80C while offering the opportunity for growth in line with equity returns.
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.
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.
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.
1 Year Return
65.30%
3 Years Return
20.30%
5 Years Return
18%
10 Years Return
14.80%
Returns Updated as of 29th June 2021
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:
Company
Percentage of Holding (As of 29th June 2021)
Infosys Limited
8.80%
HDFC Bank Limited
8.10%
ICICI Bank Limited
7.50%
Larsen & Toubro Limited SHS Dematerialised
4.50%
Tata Consultancy Services Limited
4.10%
Housing Development Finance Corp Limited
3.40%
Bajaj Finance Limited
3.30%
Axis Bank Limited
3.10%
Asset Allocation of Canara Robeco Equity Taxsaver Fund- Growth
The Canara Robeco Equity Taxsaver Fund-Growth has invested in the following sectors:
Sector
Percentage of Holding (As of 29th June 2021)
Financial Services
33.20%
Technology
16.30%
Industrials
12.30%
Consumer Cyclical
11.60%
Basic Materials
10.90%
Healthcare
5.60%
Consumer Defensive
2.90%
Energy
2%
Communication Services
1.70%
Utilities
0.90%
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.
With an existence of over 12 years, the fund has sufficient history for analysis of the fund. The track record is good.
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.
Over a period of time, the funds have been performing well consistently by achieving benchmark beating returns.
How Scripbox Algorithmically Selects Mutual Funds?
Scripbox uses time-tested principles, historical data, and valid assumptions about asset classes. We combine them with a rigorous process to finalize which asset classes make the most sense for specific types of objectives, considering the time needed to achieve them.
Once we select an asset class, our algorithm goes to work to select the best financial products.
The algorithm scores financial products on multiple parameters, giving relevant weights to each of the listed parameters, such as:
Track record of the product – how long has it been around?
Assets under management – how big is it – for example, the size of a mutual fund
Liquidity – how easy is it to move in or out of the product?
Consistency of performance – how much have the returns fluctuated?
The risk associated with the product – what risks impact the product?
Quality of underlying assets – we assess how risky the underlying assets are – for example, by considering bond ratings in the case of debt funds
With such a scientific and detailed approach Scripbox ensures:
