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One more in the tax kitty

One more in the tax kitty

Money Today-Plexus Management new fund evaluation: The fund’s timing is just right. Also, the open duration of the fund makes it viable for people who may be rethinking about investing in the existing ELSS funds.

FUND FACTS
Offer open: Till 12 February
Scheme type: Open-ended tax planning equity
Minimum investment: Rs 500; unit price: Rs 10
Loads: Entry load: 2.25%; Exit load: Nil
Options: Growth and dividend (payout & reinvestment)
Investor grievances: Staney Antoney. E-mail: service@bhartiaxa-im.com

FUND STATS
Objective:
To provide long-term capital growth from a diversified portfolio of equity and equity-related securities across all market capitalisations.
Benchmark: S&P CNX Nifty
Fund manager: Prateek Agarwal
Asset allocation:  80-100% equity & equity-related securities | 0-20% debt & money market instruments

Comparable existing schemes:

Fund NameNAV* (Rs)
6-month return(%)
1-year return(%)
Principal Personal Tax Saver Fund 47.8 -43.2
-60.1
Magnum Tax Gain Scheme25.3
-37.4
-55.9
NAV as on 15 December;. Source: NAVIndia


FUND PROGNOSIS
Idea distiller:
Being new, the fund house is in the process of covering the basic bouquet of products. The launch of the ELSS fills an important gap and is timely, considering that the fiscal year is ending soon.

Fund house report: Bharti AXA manages assets worth Rs 410 crore (as on 30 November). The fund house does not have a track record of more than one year for any equity fund.

Fund manager’s report:
He has managed Fortis Equity, Fortis Future Leaders & Fortis Opportunities funds earlier.
Returns profile: 2/5 | Risk profile: 2/5

Scheme DNA: Four fundamentals of the fund scheme
Unique idea: Low | Returns possibility: Medium | Risk: Medium | Operability/Complexity: Medium

INVESTOR TAKEAWAYS
Who should apply:
Invest only if you are looking for an NFO that is available at a low price.

Comments: The fund’s timing is just right. Also, the open duration of the fund makes it viable for people who may be rethinking about investing in the existing ELSS funds.

Published on: Dec 25, 2008, 4:35 PM IST
Posted by: AtMigration, Dec 25, 2008, 4:35 PM IST