BOI Axa Tax Advantage Fund is managed by Gaurav Kapoor. The scheme seeks to build a diversified portfolio of stocks of companies having sustainable business models, without any bias of market capitalization and sector. The scheme will follow top-down approach of equity selection. If you are a new investor you can skip this fund for a better ELSS.
BOI Axa Tax Advantage Fund has multi cap allocation which means your money will be invested in stocks of large, medium and small sized companies. About 15.24% of the fund’s money is allocated to stocks of mid sized companies, 76.9% to stocks of large sized companies and 5.46% to those of small companies. Mid sized stocks can give kicker returns as they turn into large stocks but this happens not so frequently.
- Saving on tax outgo
- Child's education
- Child's marriage
- Planning for retirement
- Creating wealth
- Short term needs
- Lifestyle needs
If you had invested Rs 1 lakh when the fund was launched in February 2009, your value of investments would be around Rs 2.28 lakhs. The performance has been close to the average returns of ELSS.
Assume you had invested Rs 10,000 every month in BOI Axa Tax Advantage Fund through SIP from its inception today you would have around Rs 5.72 lakhs.
No exit load applies for units withdrawn from this scheme. Expense ratio of BOI Axa Tax Advantage Fund is 2.98%. This is charged to recover the fund management company’s expenses on securities’ transactions, commissions, registrar fees, etc. Your mutual fund returns will be total returns less expense ratio.
The returns in a mutual fund are absolutely tax free, provided you did not withdraw within 1 year. BOI Axa Tax Advantage Fund qualifies for sec 80C ELSS benefits, which means you can invest up to Rs 1 lakh a year in this fund and deduct the amount from your gross total income for computing income tax.