Union KBC Taxsaver - A New Tax Saving Mutual Fund

Union KBC Mutual Fund has launched the Union KBC Taxsaver, an equity linked savings scheme (ELSS). This is the second offering from the fund house in equity funds space.
The scheme is an open-ended scheme that aims to generate income and longterm capital appreciation by investing in a portfolio of equity and equity-related securities. Under section 80C of the Income-Tax Act, investors can claim tax deductions on investments up to . 1 lakh in the scheme. The investments in this scheme are locked in for three years from the date of allotment of units.

The fund can invest 80% to 100%of the money in equity and equity-related instruments and up to 20% in debt and money market instruments. The investment team shall follow an active strategy to manage the assets of the fund keeping in mind the composition and performance of the benchmark. The BSE 100, a fairly diversified index, will be the benchmark for the scheme.

Ashish Ranawade will be the fund manager. A combination of bottom-up and top-down approaches will be used while making investments for the scheme. The minimum investment in the scheme is . 500 and in multiples of Rs 500. It also offers the systematic investment plan option. There is no entry load or exit load. First-time mutual fund investors investing more than Rs 10,000 will be charged Rs 150 towards transaction cost. Investments of over Rs 10,000 will also attract a transaction charge of Rs 100. You can choose between the growth and dividend options. The NFO closes on December 16 and the scheme will re-open for investment on December 23.
You can consider them scheme if you are looking to invest in equities with a long-term view and want capital appreciation along with tax-savings.

The scheme invests in equities and that adds to the risk of an investor's portfolio. The scheme invests in equities and that adds to the risk in investor's portfolio. Also, there are other taxes saving schemes with proven track record.

Invest in Tax Saver Mutual Funds

Tax Saver Mutual Funds Online

aka Equity Linked Savings Schemes (ELSS). Get tax benefit for investing upto Rs 1,00,000 in ELSS Mutual Funds under section 80C. Here is the list of all Tax saving mutual funds offered by various AMCs. All of them allow purchase through applications and quite a few of them allow online purchase of mutual fund units.

Invest in Tax Saver Mutual Funds

Below is the List of Tax Saving Mutual Funds available:  

1. Axis Tax Saver Fund
2. Bharti AXA Tax Advantage Fund
3. Birla Sun Life Tax Plan
4. Birla Sun Life Tax Relief ‘96
5. BNP Paribas Tax Advantage Plan
6. Canara Robeco Equity Tax Saver
7. DWS Tax Saving Fund
8. DSP BlackRock Tax Saver Fund
9. Edelweiss ELSS Fund
10. Fidelity Tax Advantage Fund
11. Franklin India TaxShield
12. HDFC Long Term Advantage Fund 
13. HDFC TaxSaver
14. HSBC Tax Saver Equity Fund
15. ICICI Prudential Tax Plan
16. IDFC Tax Advantage (ELSS) Fund
17. ING Tax Savings Fund
18. JM Tax Gain Fund
19. JPMorgan India Tax Advantage Fund
20. L&T Tax Saver Fund
21. LIC NOMURA MF Tax Plan
22. Principal Personal Tax Saver Fund
23. Principal Tax Savings Fund
24. Reliance Tax Saver (ELSS) Fund
25. Religare Tax Plan
26. Sahara Tax Gain Fund
27. Magnum Tax Gain Scheme 1993
28. Sundaram Tax Saver
29. Tata Tax Saving Fund
30. Taurus Tax Shield

Invest in Tax Saver Mutual Funds