Baroda Pioneer ELSS 96 Fund

Baroda Pioneer ELSS 96 Fund is being managed by Dipak Acharya. The scheme seeks to achieve long-term capital growth as also tax benefits. The funds will be invested in equities.The scheme went open-ended from March 2000. This fund’s performance has been below the category average in most periods. If you have invested in this fund consider exiting now to invest in a better performing fund. If you are a new investor you can safely skip this one.

Where does Baroda Pioneer ELSS 96 Fund invest your money?

Baroda Pioneer ELSS 96 Fund is a multi cap fund which means your money is invested in stocks of large medium and small sized companies. It has about 94.42% allocation in stocks of large cap companies and close to 5.57% allocation in stocks of medium sized companies. Large cap companies tend to be stable compared to mid cap companies.

Suitable for what?
  • Saving on tax outgo
  • Child's education
  • Child's marriage
  • Planning for retirement
  • Buying house
Not suitable for what?
  • Creating wealth quickly
  • Short term needs
  • Lifestyle needs
How has Baroda Pioneer ELSS 96 Fund performed in the past?

If you had invested Rs 1 lakh when the fund was launched in Mar 1996, your value of investments would just be around Rs 2.23 lakhs. If you had invested Rs 1 lakh 5 years back the value of your investments would have sadly dropped to Rs. 94,322. Performance has been worse than that of other funds in the same category.

Assume you had invested Rs 10,000 every month in Baroda Pioneer ELSS 96 Fund through SIP for the last 5 years today you would have been around Rs 6.73 lakhs.

Our recommendation for fresh investment
Not Recommended
Our recommendation for existing investment
Not Recommended
What are the charges applicable?

Investment is locked-in for 3 years after which you can withdraw freely. Expense ratio of Baroda Pioneer ELSS 96 Fund is 3.22%. 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.

What are the tax implications?

The returns in a mutual fund are absolutely tax free, provided you do not withdraw within 1 year. Baroda Pioneer ELSS 96 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.

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