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| Nature | An open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. |
| Investment Objective | The Scheme will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction (under section 80C of the Income-Tax Act, 1961) on their investments. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to be eligible for income-tax benefits under Section 80C. There can be no assurance that the investment objective under the scheme will be realized. |
| Asset Allocation | The asset allocation pattern for the scheme is detailed in the table below:
| Instrument | Indicative allocation
(% of total assets) | Risk Profile |
| | Minimum | Maximum | |
| Equity and equity related instruments |
80% |
100% |
Medium to High |
| Debt and Money Market instruments |
0% |
20% |
Low to Medium |
For more details on Asset Allocation please refer Scheme Information Document(SID) |
| Fund Manager | Ms. Uma Venkatraman |
| Benchmark | S&P BSE 200 Index-TRI |
| Face Value | Rs. 10/- per unit. |
| Entry Load | Not Applicable |
| Exit Load | Nil |
| Lock-in-period | Statutory lock in period of 3 years from the date of allotment.
For SIP
Statutory lock in period of 3 years is applicable to every installment made in the scheme. |
| Taxation |
Unit holders of the Scheme will be charged securities transaction tax (STT) @ applicable rate on value of redemption of units.
Investors in this Scheme will be eligible for income tax deduction benefits under Section 80C of the IT Act, 1961. Investors in the Scheme are entitled to deductions of the amount invested in Units of the Scheme, subject to a maximum of Rs. 1,50,000/-,under Section 80C of the Income Tax Act, 1961.
The detailed explanation about Equity Linked Saving Scheme and Tax Benefits offered to the investors under ELSS is provided earlier
** For further details on taxation please refer to the Section on Taxation in the SAI |
| Plans & Options | The Scheme offers following plans for investment:-
Within each Plan there are two Options:
- Dividend Option
- Growth Option
The Dividend option under both Plans offers the following modes of dividend:
|
| Minimum Investment | Rs. 500 and in multiples of Rs. 500 thereafter. |
| Additional Purchase | Rs.500 and in multiples of Rs 500 thereafter. |
| Systematic Investment Plan (SIP) | Monthly option - Rs. 500 and in multiples of Rs. 500/- thereafter per month, for at least 12 months or
Rs. 1000 and in multiples of Rs. 500/- thereafter per month, for a minimum period of 6 months.
Quarterly option - Rs. 1500 and in multiples of Rs. 500/- per quarter thereafter for a minimum period of 4 quarters.
Investments above the minimum amount mentioned, shall be made in multiples of Rs.500 for all SIP irrespective of frequency of SIP or the Option |
| Riskometer | This product is suitable for investors who are seeking*:
- Long term capital growth
- An Equity Linked Savings Scheme (ELSS) investing in equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction (under section 80C of the Income-tax Act, 1961) on their investments, subject to a statutory lock-in of three years.
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them. | |