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 LT Tax Advantage Fund

 

 

The fund's investment approach is bottom up and is not hamstrung by any market cap or sectoral bias and is single-mindedly focused to tap best opportunities that the market presents.

The scheme intends to be diversified across sectors and could also hold more than 80 stocks at any given point. The holdings in individual stocks generally do not exceed 4 per cent. Currently it holds 54 stocks and its average equity allocation is 94 per cent, with large cap exposure being 70 per cent.

 

Performance

The fund slightly underperformed to begin with but caught up by next year as it curtailed its losses better than peers in the market downturn of 2008. The next three years too were a breeze but all this came to a grinding halt in 2012 when it lagged behind peers by 4 per cent which can be attributed to the overall change in the fund management as L&T MF acquired all Fidelity funds.

The fund's long term returns present a mixed picture as its annualised 4-year return of 8.37 per cent is quite better than the category average of 4.96 per cent but its 3-year return of -1.64 per cent is only marginally above the category average of -2.91 per cent.

Its highest single stock allocation has been to large caps like ICICI Bank, ITC, Infosys and Reliance which has been around 6 per cent.

Its sectoral allocation is more or less in line with the category average with only few differences.

 

Why invest?
The fund has done well irrespective of market cycles though it has had its short bouts of underperformances. Also, it has managed to scrape through with only a marginal underperformance during the fund management transition.

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Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

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