| Performance as on 31/08/2010 |
| |
Absolute |
Compound Annualized |
| |
6 months |
1 Year |
3 years |
5 years |
Since Inception |
| Reliance Tax Saver (ELSS) Fund - Growth |
21.23 |
38.11 |
10.92 |
N.A |
16.70 |
| BSE100 |
9.92 |
17.05 |
7.00 |
N.A |
17.43 |
Past Performance may or may not be sustained in the future.
Compounded annualized returns of Growth Option. (Inception Date:22/09/2005)
Calculations assume that all payouts during the period have been reinvested in the units of the
scheme at the then prevailing NAV.
Scheme Features
Type : An Open-ended Equity Linked Savings Scheme.
Investment Pattern :
80-100% in equity and equity related securities.
Upto 20% in Debt and Money Market Instruments.
Investment Objective :
The primary objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related instruments.
Plans / Options :
Growth Option
Dividend Pay-out Option & Dividend Reinvestment Option
Application Amount :
The minimum amount for all category of investors is Rs. 500/- and in multiples of Rs. 500 thereafter. There is no cap on the maximum amount. However investments only upto Rs. 1 lakh by the eligible investor in the scheme will qualify for deduction under the Act.
Min. Additional Investment : Minimum additional purchases of Rs. 500.
Load Structure
Entry Load*: Nil
* In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors' assessment of various factors including the service rendered by the distributor
Exit Load: Nil
Inter-Scheme Switch :
Unitholders will have the flexibility to alter the allocation of their investments among the scheme(s) offered by the Mutual Fund, in order to suit their changing investment needs, by easily switching between all the scheme(s)/plans/options of the Mutual Fund, after the statutory lock-in period of 3 Years. No load applicable for switches between the equity schemes. However, differential load shall be charged for switching from Reliance Index Fund and switching to Reliance NRI Equity Fund.
Inter Plan/Inter Option Switch :
Unitholders will have the flexibility to alter the allocation of their investments among the scheme(s) offered by the Mutual Fund, in order to suit their changing investment needs, by easily switching between all the scheme (s)/plans/options of the Mutual Fund, after the statutory lock-in period of 3 Years.
Redemption Cheques Issued : Will be allowed only after the expiry of the lock in period of 3 years.
Minimum Redemption Amount : Will be allowed only after the expiry of the lock in period of 3 years.
Cut off time : 3:00 p.m. on working days as defined in the Offer Document
Regular investment option for corporate employees : Available
Trigger Facility : Value & NAV Trigger to introduce a Stop loss or a Gain Cap. Available only after the expiry of the lock in period of 3 years.
Switch Facility : Available after the statutory lock-in period of 3 Years.
Systematic Transfer Plan / Dividend Transfer Plan : Available. However, the scheme cannot become a transferor scheme before 3 year lock-in-period.
Nomination Facility : Available
Mode of Holding : Single, Joint or Anyone or Survivor
Benchmark Index : BSE 100
Switching Option : Available only after the expiry of the lock in period of 3 years.
Allotment of Units :
For Subscriptions received at the DISC's within the cut-off timings and considered accepted for that day, the units will be allotted on the T day. Where the T day is the transaction day, provided the application is received within the cut-off timings for the transaction day.
Applicable NAV :
- Purchases : In respect of valid applications received upto 3 p.m. by the Mutual Fund alongwith a local cheque or a demand draft payable at par at the place where the application is received, the closing NAV of the day on which application is received shall be applicable. In respect of valid applications received after 3 p.m. by the Mutual Fund alongwith a local cheque or a demand draft payable at par at the place where the application is received, the closing NAV of the next business day shall be applicable.
- Redemptions : In respect of valid applications received upto 3 p.m. by the Mutual Fund, same day's closing NAV shall be applicable. In respect of valid applications received after 3 p.m. by the Mutual Fund, the closing NAV of the next business day shall be applicable.
Tax Benefits :
- Investment in this fund would enable you to avail the benefits under clause (xiii) of Sub-section (2) of Section 80C of the Income-tax Act, 1961. Investment made upto Rs 1 lakh by the eligible investor being an Individual or a Hindu Undivided Family in the scheme will qualify for deduction under this Section of the Act.
- Dividends received will be absolutely TAX FREE in the hands of investors
- The dividend distribution tax (payable by the AMC) for equity schemes is also NIL
- Long Term Capital Gains tax is also Nil as redemption is allowed after 3 years lock in period.
The above should not be construed to be tax advice and the same is subject to any change that may be affected in the Act or any guidelines /amendments /rules /clarifications issued in respect thereof from time to time.
Disclaimer
Sponsor: Reliance Capital Limited Trustee: Reliance Capital Trustee Co. Limited Investment Manager: Reliance Capital Asset Management Limited Statutory Details: The Sponsor, the Trustee and the Investment Manager are incorporated under the Companies Act 1956.
Investment Objective: Reliance Tax Saver (ELSS) Fund (An Open Ended Equity Linked Savings Scheme): The primary objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related instruments.
Risk Factors:
Mutual Funds and securities investments are subject to market risks and there is no assurance or guarantee that the objectives of the Scheme will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Sponsor/AMC/Mutual Fund is not indicative of the future performance of the Scheme. Reliance Tax Saver (ELSS) Fund is the name of the Scheme and does not in any manner indicate either the quality of the Scheme; its future prospects or returns. The Sponsor is not responsible or liable for any loss resulting from the operation of the Scheme beyond their initial contribution of Rs.1 lakh towards the setting up of the Mutual Fund and such other accretions and additions to the corpus. Investment in this scheme is subject to lock in period of 3 years from the date of allotment of units. The NAV of the Scheme may be affected, interalia, by changes in the market conditions, interest rates, trading volumes, settlement periods and transfer procedures. The Mutual Fund is not assuring that it will make periodical dividend distributions, though it has every intention of doing so. All dividend distributions are subject to the availability of distributable surplus in the Scheme. For details of scheme features apart from those mentioned above and for scheme specific risk factors, please refer to the Offer Document/Scheme Information Document. Please read the Scheme Information Document and Statement of Additional Information carefully before investing.
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