HDFC ELSS Tax Saver mutual fund: A continued strong show will make it a worthy pick in this category

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

BASIC FACTS
DATE OF LAUNCH
31 MAR 1996
CATEGORY

EQUITY
TYPE
ELSS
AUM*
Rs.16,761 crore
BENCHMARK
NIFTY 500 TOTAL
RETURN INDEX

WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.1352.6
IDCW
Rs.79.9
MINIMUM INVESTMENT
Rs.500

MINIMUM SIP AMOUNT
Rs.500

EXPENSE RATIO# (%)
1.70
EXIT LOAD
0

*AS ON 30 SEP 2024
**AS ON 29 OCT 2024
#AS ON 30 SEP 2024

FUND MANAGER
ROSHI JAIN
2 YEARS, 8 MONTHS

Recent portfolio changes
New entrants
Sumitomo Chemical India (Aug).
Dalmia Bharat, JK Lakshmi Cement, Medi Assist Healthcare Services (Sep).
Complete exits
Blue Dart Express (Aug).
Coforge (Sep).

Should You Buy
This tax-saving fund retains a heavier large-cap tilt compared to its peers. It continues to retain a top-heavy skew with large positions in select bets and modest positions in the bulk of its portfolio. The fund also retains large active positions in select high conviction bets relative to the index. The fund portfolio is more compact under the current fund manager, with the number of holdings trimmed sharply compared to a few years ago. Its earlier bias for energy stocks has been shed while hiking presence in financials. After struggling for long stretches until 2020, the fund has turned a corner since 2021, exhibiting sharp outperformance. A continued strong show will make it a worthy pick in this category.