Religare Tax Plan from Religare MF
Religare Mutual Funds, one of the relatively new fund house in India has the ELSS tax plan targeting those who want to invest to save tax as well as can bear the risk that any mutual funds offer. Unlike any other tax saver mutual fund in India, this Religare Tax Plan too has a minimum lock-in period of 3 years. One can save tax for this ELSS fund under section 80CC. It is an open-ended MF scheme targeting the individual tax payers.
General Info:
The fund manager for this fund is Mr. Vetri Subramaniam. This, Religare Tax Plan, fund was launched on December 29, 2006. The main objective of this fund is to generate capital growth in long term by way of diversified investment on equity as well as the equity related securities. Its one year return calculated for the day today is 108.62%. While for the 3 year period it is said to be 13.4% (it is calculated from since the launch of this fund December 29, 2006). For the month ending January 2010, Religare Tax Plan has been awarded with 5 stars by Value Research.
Category: Equity – ELSS.
Allocation: Just like any other equity based ELSS schemes, 80% in equities and balance in debt instruments.
Options Available: Growth and Dividend payout as well as Dividend reinvestment.
Entry and Exit Load: Nil.
Lock-in Period: Minimum of 3 years.
The minimum investment for Religare Tax Plan is Rs. 500 and in multiples and one can even choose the option of SIP to save tax the easier way.
The current NAV for Religare Tax Plan Growth is Rs. 15.34 (March 4, 2010) while for the Dividend option it is Rs. 12.7.
If you are looking for an alternative option to save tax this financial year 2009-2010, and can digest some risk then Religare Tax Plan can prove to be an excellent option with long term benefits and yet short term investment when compared with any other tax saving instruments available in India.
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Comments
Hi Shiva,
Thanks for posting about the Religare ELSS Tax Plan.
You can also find the latest Religare news, views and tips on http://www.facebook.com/Religare.Enterprises and http://www.twitter.com/religare_rel .
We look forward to interacting with you!
Regards,
The Religare Customer Care Team
Yes, you are right.
Religare has been a star performer since inception and should continue to do so.