The Reliance Tax Saver Fund is an aggressive equity-oriented scheme designed for long-term capital growth while offering tax benefits under section 80C. It predominantly invests in small and mid-cap stocks, demonstrating superior risk-adjusted returns compared to its benchmark over the past decade, albeit with higher volatility. The fund manager aims for a balanced portfolio that includes a blend of large-cap and mid-cap companies across various sectors, focusing on achieving exceptional returns, especially during market upswings.

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FUND
EXPERTS’
TAKE
Thisfundhasahigherexposuretosmall&mid-capswhichmakesitanaggressivefund.But
ithasregisteredsuperiorriskadjustedreturnsandconsistenttopquartileincomparisonto
itscategoryoverthepast10years.Thisfundcanbeanidealpickfortheoneswhoare
passionateabouthighreturnsanddonotfeartakingmoderatelyhighrisksthatare
accompaniedbyinvestinginmid-capcompanies.
RelianceTaxSaverFund
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FundCategory
ELSS
FundBenchmark
S&PBSE100
AnalysisBenchmark
S&PBSE200
FundManager
Mr.AshwaniKumar
Theprimaryobjectiveofthefundistoachievelong-term
growthofthecapitalbyinvestinginequitiesalongwiththe
additionalbenefitsoftaxationunderSection80C.
INVESTMENTOBJECTIVE
Thefundholdsfastonthegrowthatreasonableprice
(GARP)strategy.Ithasareasonablediversificationand
adequateblendofcyclicalandsecularplay,despiteitshigh
convictioninvestmentstyleacrosssectorsandstocks.
INVESTMENTSTRATEGY
Approximately20to30%oftheportfolioisallocatedto
multinationalcompanies(MNCs).Themanagingteam
attemptstohaveabalancedportfolioonamacrobasis,
allocatingtheassetstothemeslikeConsumption,
Domestic,andDefensive.
Top10Holdings (%)
1-Yr
Return(%)
7.21
7.16
6.87
6.02
4
3.84
3.49
3.38
3.35
2.76
25.79
-9.91
45.59
-29.35
8.01
1
13.67
58.8
38.66
-
TataSteelLtd
StateBankofIndia
TVSMotorCoLtd
TataMotorsLtd
ABBIndiaLtd
AmbujaCementsLtd
ICICIBankLtd
HoneywellAutomationIndiaLtd
BharatForgeLtd
SBILifeInsuranceCoLtd
SECTOR-WISEALLOCATION
*Source:MorningStar|asonMarch27,2018
RelianceTaxSaverFundisanopen-endedequity-oriented
scheme,eligibleforavailingtaxbenefits.Thisisan
aggressivefundintheELSScategory,currentlyretaininga
balanceofitsassetsacrossthelarge&mid-capcompanies.
FUNDOVERVIEW
AUM(asonFebruary28,2018)
Rs.10,345crore
NAV(asofMarch26,2018)
Rs.58.22
Launch
Date
Sept.21,2005
3-Year
(2015-17)
0%
20%
40%
60%
80%
100%
120%
140%
160%
180%
5-Year
(2013-17)
3-Year
(2015-17)
5-Year
(2013-17)
SIPReturns LumpsumReturns
*ReturnscalculatedareAbsolutereturnsasonDecember31st,2017
177.44%
46.44%
87.46%
39.64%
Performance
EventheSIPandLumpsumreturnsoflast3and5years
areseemedtobeexceptional.
Fund CategoryBenchmark
3.47
6.05
6.52
4.24
5.36
4.46
-2.92
-0.18
3.21
83
37.45
50.64
46.04
34.97
38.5
2013 2014 2015 2016 2017
CalendarYearReturns
Withthe10-yearannualizedreturnof15.4%,thefund
hasoutperformedboththebenchmark(10.02%)andthe
categoryreturn(11.5%)byhealthymargin.Thefund
tendstodoperformbetterwhenthemarketgoesup.
PASTPERFORMANCE
RETURNS-SIP&LUMPSUM
*Source:MorningStar|asonFebruary28,2018
RiskMeasures
Alpha
Fund -1.32
2.45
1.18
0.99
0.33
0.53
17.2
14.19Category
Beta
Sharpe
Ration
Standard
Deviation
Mostofthetimes,thefundtakestwotothreesectorcalls
whicharemostlyin-lineofemergingmarkettrends.Aswe
canseetheriskmeasuresBetaandStandardDeviationof
thefund,depictthatthefundexhibitshighervolatility
comparedtopeersanditcomparativelyrisky.
Butatthesametime,thefundtendstogiveexceptional
returnswhenthemarketgoesupsharply.
RISKMEASURES
Itmanagesahigh-qualitygrowthportfoliobyinvesting40to
50%inlarge-capsandthebalanceinmid-capcompanies.
Thefundmanagerattemptstoobtainanoptimalmixof
large-capmarketleadersandalphacreatingscalable
mid-capcompanieswithcompetitiveadvantages,to
generatelongtermwealthforinvestors.
PORTFOLIOALLOCATION
97.57%
0.11%
2.32% Portfolio %
Stocks 97.57
Cash 2.32
Other 0.11
*Source:MorningStar|ason
March27,2018