Mutual Funds: Invesco India Tax Plan Mutual Fund Review: ELSS Tax Saving with Good Long Term Track Record

ET Wealth works with Value Research to analyze the best mutual funds. We look at key fund fundamentals, portfolio and performance to help you make an informed investment decision.

HOW HAS THE FUND RETURNED

WHERE THE FUND INVESTS

Pg20-2

BASIC FACTS

  • Launch date: December 29, 2006
  • Category: Stocks
  • Type: ELSS
  • AUM (As of 31 Dec 2021): Rs 1,934 crore
  • Benchmark: S&P BSE 500 Total Return Index

WHAT IT COST

NAV(As of January 18, 2022)

  • Growth option: Rs 87.49
  • IDCW: Rs 23.54
  • Minimum investment: Rs 500
  • Minimum SIP amount: Rs 500
  • Expense ratio (as of November 30, 2021) (%): 2.09
  • Output load: 0

FUND MANAGERS

Amit Nigam and Dhimant Kothari

Duration: 1 year, 3 months and 3 years, 9 months

Top 5 sectors in portfolio (%)

Pg20-3

Top 5 stocks in portfolio (%)

Pg20-4

Recent Portfolio Changes

  • New entrants: Bharti Airtel, PB Fintech, Radico Khaitan, Tata Motors, Anand Rathi Wealth, Jubilant FoodWorks, Kajaria Ceramics.
  • Full outings: Indian Railway Catering & Tourism Corporation, RBL Bank, Tata Steel, HDFC AMC
  • Increasing allowance: Indraprastha Gas, Axis Bank, Bajaj Finance, Cholamandalam Investment, Gujarat Gas, HDFC Bank, Honeywell Automation, ICICI Bank, Motherson Sumi, Bajaj Finance, Bharti Airtel, Gujarat Gas.

How risky is it?

Pg20-5

Source: Value Research

Should I buy?

This tax-saving fund takes a large-cap slant like many of its peers in the category. However, it is currently taking significant exposure to mid and small caps as well. The fund manages a very compact portfolio, which also allows it to take large positions on its best bets. He also prefers to take only positive active positions relative to the index. The fund benefits from a solid long-term performance record marked by consistent outperformance. It also has more downside protection than most peers in its class, putting it on solid footing for the long term.

Dolores W. Simon