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This Tax Saver Wealth Enhancement Fund Has Offered 54.60% Returns In 3 Years

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Equity Linked Saving scheme or ELSS mutual funds are a wonderful investment alternative for investors because of their tax benefits, the potential for long-term wealth growth, and comparably shorter lock-in time. These funds primarily invest in equities and, as a result, have the potential to generate optimum returns. To help you save tax, and build wealth, we have given insights into one such fund here. the fund we have highlighted here has offered promising returns along with tax savings.

 

ICICI Prudential Long Term Wealth Enhancement Fund - Direct Plan-Growth

ICICI Prudential Long Term Wealth Enhancement Fund - Direct Plan-Growth

This Tax Saver ELSS is a 4-year-old fund launched on 22nd March 2018 by the ICICI Prudential Mutual Fund. This ELSS has worth Rs 33.71 crore asset under management. The NAV of this fund declared on 08th April 2022 is Rs 16.79. The expense ratio of this fund is 0.98%, which is below its category average returns. 

It is a highly risky fund for investment s it is an equity-linked scheme. However, it is also a tax benefit scheme that makes it a good bet. It is a close-ended fund. This fund comes with 3 year lock-in period. The fund's benchmark is Nifty 500 TRI. The scheme's ability to provide consistent returns is comparable to that of other funds in its category. Its capacity to manage losses in a sinking market is below average.

 Absolute And Annualised Returns
 

Absolute And Annualised Returns

Lump-Sum Investment Returns

In the last year, this ELSS fund has offered 25,21% returns, whereas, since its inception, it has offered, 13.65% annual average returns.

Investment PeriodAbsolute ReturnsAnnualised Returns
1 Year25.20%25.21%
2 Year113.88%46.25%
3 Year54.60%15.62%
Since Inception67.90%13.65%

SIP Returns

SIP PeriodAbsolute ReturnsAnnualised Returns
1 Year9.56%18.19%
2 Year34.77%31.65%
3 Year40.71%23.49%
Portfolio

Portfolio

The fund has 95.1% investment in Indian stocks of which 55.93% is in large-cap stocks, 17.34% is in mid-cap stocks, and 8.27% in small-cap stocks.

The fund has the majority of its money invested in the Financial, Automobile, Services, Communication, and Energy sectors. It has taken less exposure in the Financial, Automobile sectors compared to other funds in the category.

The fund's top holdings are in ICICI Bank Ltd., HDFC Bank Ltd., TVS Motor Co. Ltd., Avenue Supermarts Ltd., and Bharti Airtel Ltd.

Disclaimer

Mutual fund investments are subject to market risk. Read all scheme-related documents, and Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn't guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.

Read more about: elss mutual funds tax saving
Story first published: Monday, April 11, 2022, 20:50 [IST]
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