Aditya Birla Sun Life Tax Relief ’96 is an open-ended Equity Linked Savings Scheme that was launched in the year 1996. The AUM of this ELSS scheme stands at Rs. 8,913 crore (as on May 31, 2019). It has stood the test of time by withstanding challenging market conditions since its inception.
Like all ELSS schemes, it is accompanied by a lock-in period of 3 years. Investors of Aditya Birla Sun Life tax Relief ’96 are eligible to claim tax deduction under Section 80C of the Income Tax Act, 1961.
(Note – All the information contained in this page has been sourced from the website of Aditya Birla Sun Life Insurance.)
| Fund Performance | 1 year | 3 year | 5 year |
|---|---|---|---|
| Trailing Returns | -4.05% | 10.78% | 19.08% |
| Rolling Returns | -4.19% | 12.53% | 20.52% |
| Beta | 0.838 | 0.908 | 0.938 |
| Jensen’s Alpha | 5.29% | 2.13% | 8.14% |
| Sharpe | -0.736 | 0.215 | 0.72 |
| Sortino | -0.242 | 0.118 | 0.354 |
Aditya Birla Sun Life Tax Relief ’96, from the renowned fund house of Aditya Birla Sun Life Mutual Fund, holds the record of generating returns at the rate of -4.05% after 1 year, 10.78% after 3 years and 19.08% after 5 years. In context to these investment tenures, the benchmark of S&P BSE 200 Index recorded returns of -0.98%, 10.67% and 13.76% respectively. It is clear that the scheme and the benchmark have witnessed correction in the past year.
In the short term, this has adversely affected the capital growth, leading to under performance against the benchmark. In the mid-term, the scheme has broken even and outperformed its benchmark by a whisker. However, it has managed to outperform by a huge margin over the long term of 5 years. Evidently, Aditya Birla Sun Life Tax Relief ’96 achieves the highest capital growth over a longer period of time and, hence, is designed for long term investments.
| Investment sector | Weight on Portfolio (%) |
|---|---|
| Honeywell Automation India | 7.39 |
| Gillette India | 7.33 |
| Reliance Industries | 7.29 |
| Bayer Cropscience | 5.92 |
| Pfizer | 5.84 |
| GlaxoSmithKline Pharmaceuticals | 5.18 |
| Sundaram Clayton | 4.82 |
| Thomas Cook (India) | 4.53 |
| HDFC | 4.4 |
Note: The above figures are based on October 2018 statistics
Below are some benefits of Aditya Birla Sun Life Tax Relief ’96:
What is Aditya Birla Sun Life Tax Relief ‘96?
Aditya Birla Sun Life Tax Relief ’96 is an open-ended Equity Linked Savings Scheme that was launched in the year 1996. The AUM of this ELSS scheme is among the largest among its competitors. It has stood the test of time by withstanding challenging market conditions since its inception.
Like all ELSS schemes, it is accompanied by a lock-in period of 3 years. Investors of Aditya Birla Sun Life tax Relief ’96 can avail tax benefits under Section 80C of the Income Tax Act, 1961.
Should I invest in Aditya Birla Sun Life Tax Relief ‘96?
The following are the salient benefits of Aditya Birla Sun Life Tax Relief ’96. It is one of the best investment plans if it is aligned to your unique investment objectives.
