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This Top-Rated Tax Saving Mutual Fund Has Given Over 222.15% Returns Since Inception
The stock market's steep decline might be a boon for individuals who choose to invest in a tax-saver fund. The Equity Linked Savings Scheme, or ELSS, is quickly becoming a popular tax-saving investment. It allows you to combine the benefits of wealth building and tax reduction into a single investment. This ELSS fund has offered good returns in 3 year lock-in period. Check the returns, SIP, and portfolio of the fund.
Union Long Term Equity Fund - Direct Plan-Growth
This is a 9-year-old mutual fund launched on 01 January 2013 by the Union Mutual fund. It is a mid-size ELSS fund in its category. Also, it is an open-ended equity fund. Its AUM stood at Rs 453.04 Cr, and recently declared NAV as of 17th March 2022 is Rs 42.7. The fund has an expense ratio of 1.63%, which is higher than its category average expense ratio.
Investors who plan to invest for at least three years and are seeking extra benefits such as income tax savings in addition to good returns can look for this fund. However, investors note, it is a very risky fund, and investment doesn't guarantee a return. Despite this, it has given above-average performance among its peers. In addition, rating agency CRISIL rated this fund 4-stars.
Absolute and Annualised Returns
Lump-Sum Investment Returns
Its returns in the last 1-year are 22.53% compared to its category average returns in 1 year is, it is below. It has a good better return in 3 years and above investment period. Since its launch, it has delivered 13.56% average annual returns, and 222.51% absolute returns.
| Investment Tenure | Absolute Returns | Annualised Returns |
|---|---|---|
| 1 Year | 22.53% | 22.53% |
| 2 Year | 100.66% | 41.65% |
| 3 Year | 72.18% | 19.80% |
| 5 Year | 97.69% | 14.59% |
| Since Inception | 222.51% | 13.56% |
SIP Investment Returns
| SIP Tenure | Absolute Returns | Annualised Returns |
|---|---|---|
| 1 Year | 5.36% | 10.13% |
| 2 Year | 33.82% | 30.88% |
| 3 Year | 44.88% | 25.63% |
| 5 Year | 58.48% | 18.48% |
Source- Money Control
Portfolio
95.39 percent of the fund's holdings are in equities, with 64.43 percent in large-cap stocks, 9.69 percent in mid-cap stocks, and 5.97 percent in small-cap stocks. The fund has a 0.11 percent debt position, with 0.11 percent of that in government securities.
The Financial, Technology, Energy, Consumer Staples, and Automobile sectors account for the majority of the fund's holdings. When compared to other funds in the category, it has less exposure to the Financial and Technology sectors.
Reliance Industries Ltd., Infosys Ltd., ICICI Bank Ltd., HDFC Bank Ltd., and Larsen & Toubro Ltd. are the top five holdings of the fund.
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.
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