DSPBR Tax Saver – Change in Fund Manager. How will it perform now?

Published: Thursday, July 7, 2011, 16:10 [IST]

DSP BlackRock Mutual Fund has announced a change in fund manager for DSP BlackRock Tax Saver Fund, with effect from July 5, 2011.

DSP Blackrock Tax Saver Fund was launched as DSP Merrill Lynch Tax Saver Fund in December 2006. It is an ELSS fund, which is a tax saving instrument and it invests in equity market.

Earlier, the fund was jointly managed by Anup Maheshwari and Mayana Sobit Rajani and now it will be solely managed by Anup Maheshwari.

Anup is Exec. Vice President, Head Equities & Corporate Strategy. He has been working with DSP BlackRock Investment Managers Pvt. Ltd. (previously called DSP Merrill Lynch Fund Managers) since July 1997, and has been managing the domestic funds since May 2001.

Some of the other schemes managed by Anuj are DSP-BR Opportunities - Growth, DSP-BR India TIGER - Growth and DSP-BR Small & Mid Cap – Growth.

About the fund

DSP-BR Tax Saver Fund has given negative returns over the span of last 3 months i.e. -2.39%, where Sensex has given negative returns of around -4.51% and that of Nifty, -4.52%.

It has outperformed Sensex and Nifty in 2010 by giving overall return of 23.26%, where Sensex performed 17.43% and Nifty, 17.95%. It was ranked 12 out of 37 funds in the category. (Data taken from www.valueresearchonline.com)

According to data available on the ValueResearch website the fund has high exposure to large-cap stocks, approximately 62% of the portfolio. This will bring stability to the fund"s portfolio and returns.

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OneIndia Money

Story first published: Thursday, July 7, 2011, 16:10 [IST]