ICICI Prudential ELSS Taxsaver Fund review: Stability in mutual fund’s investment approach needed
ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of ICICI Prudential ELSS Taxsaver Fund, its portfolio and performance to help you make an informed investment decision.
By ET Bureau |
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While it has no market cap constraints, ICICI Prudential ELSS Taxsaver Fund retains a large-cap bias with modest presence in mid- and small-caps.
ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of ICICI Prudential ELSS Taxsaver Fund, its portfolio and performance to help you make an informed investment decision.
BASIC FACTS DATE OF LAUNCH 19 AUGUST 1999 CATEGORY
EQUITY TYPE ELSS AUM* Rs.13,847 crore BENCHMARK NIFTY 500 TOTAL RETURN INDEX
WHAT IT COSTS NAV** GROWTH OPTION Rs.846.3 IDCW Rs.23.23 MINIMUM INVESTMENT
*AS ON 31 DEC 2024 **AS ON 21 JAN 2024 #AS ON 31 DEC 2024
FUND MANAGER MITTUL KALAWADIA 1 YEAR, 3 MONTHS
Recent portfolio changes
New entrants Ambuja Cements, Godavari Biorefineries, Hyundai Motor India (Oct) International Gemmological Institute (India), Tech Mahindra. (Dec) Complete exits Asian Paints, Kalpataru Projects International. (Oct) Aster DM Healthcare, Greenpanel Industries, JSW Infrastructure, Mastek. (Dec)
Should You Buy
This fund has undergone another shift in investing style owing to a change in its stewardship. Even as the previous fund manager had overseen a transition from earlier value-centric approach to a growth bias, the new fund manager has again introduced a contrarian stance in the portfolio. It focuses on sectors going through a downcycle and avoids overpaying for businesses. While it has no market cap constraints, it retains a large-cap bias with modest presence in mid- and small-caps. The fund has struggled to deliver consistently in recent years. Frequent style shifts can be a dampener, so a degree of stability in investing approach would do well for the fund’s long-term outcomes.
