ING Tax Saving Fund is managed by Mr. Anshul Mishra. The scheme aims to provide medium to long-term growth of capital along with income tax rebate. New investors can safely skip this fund. If you have already invested in this fund exit now to invest in a better performing fund.
ING Tax Saving Fund is equity oriented large cap fund which means most of your money would be invested in stocks of large cap companies. Large cap companies tend to be stable while mid and small cap companies tend to give kicker returns. Presently it has 75.98% allocation to stocks of large cap companies, 22.21% allocation to stocks of mid cap companies while 1.82% allocation to stocks of small cap companies.
- Saving on tax outgo
- Child's education
- Child's marriage
- Planning for retirement
- Home Purchase
- Creating wealth quickly
- Short term needs
- Lifestyle needs
If you had invested Rs 1 lakh when the fund was launched in March 2004, your value of investments would be around Rs 2.98 lakhs. If you had invested Rs 1 Lakh for 5 years your value of investments would have been Rs 1.06 lakhs. The fund’s performance has not been similar to other funds in this category.
Assume you had invested Rs 10,000 every month in ING Tax Saving Fund through SIP for 5 years today you would have just around Rs 7.69 lakhs.
No exit load applies for units withdrawn from this scheme. Expense ratio of ING Tax Saving Fund is 2.62%. 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 an equity mutual fund are absolutely tax free, provided you do not withdraw within 1 year. ING Tax Saving 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.