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Fincash » Axis Long Term Equity Vs ABSL Tax Relief '96

Axis Long Term Equity Fund Vs Aditya Birla Sun Life Tax Relief ‘96

Updated on April 8, 2024 , 9537 views

Axis Long Term Equity Fund and Aditya Birla Sun Life Tax Relief ’96 both form part of ELSS category. ELSS or Equity Linked Savings Scheme refers to the Mutual Fund scheme that gives investors dual benefits of investing as well as tax Deduction. Individuals Investing in ELSS can claim a tax deduction of up to INR 1,50,000 under Section 80C of income tax Act, 1961. Being a Tax Saving Scheme, it has a lock-in period of three years. However, as compared to other tax savings schemes, the lock-in period of ELSS is the shortest. Axis Long Term Equity Fund and Aditya Birla Sun Life Tax Relief ’96 both belong to the same category still there are differences between both the schemes. So, let us understand the differences between the schemes by comparing various parameters.

Axis Long Term Equity Fund

Axis Long Term Equity Fund is a part of Axis Mutual Fund. This open-ended ELSS scheme was launched on December 29, 2009. This scheme is suitable for an investment horizon of 3-5 years. Axis Long Term Equity Fund uses S&P BSE 200 Index as its benchmark to construct its Portfolio. This scheme invests in companies that are fundamentally strong, have high growth potentials, and sound quality of management. It focuses on building and maintaining a steady consistent and long-term portfolio with controlled downside risk. As on March 31, 2018, some of the holdings of Axis Long Term Equity Fund consisted of HDFC Limited, Kotak Mahindra Bank Limited, Bandhan Bank Limited, Info Edge (India) Limited, and Sun Pharmaceuticals Industries Limited. The fund manager managing the Axis Long Term Equity Fund is Mr. Jinesh Gopani.

Aditya Birla Sun Life Tax Relief ‘96

Aditya Birla Sun Life Tax Relief ’96 is an open-ended ELSS scheme of Birla Sun Life Mutual Fund. This Mutual Fund scheme was launched on March 29, 1996, and is an open-ended scheme. The objective of this scheme is to provide investors with an opportunity to save tax along with Capital growth by investing in equity-oriented instruments. Birla Sun Life Tax Relief ’96 is solely managed by Mr. Ajay Garg. As on March 31, 2018, some of the equity holdings that were part of Top 10 holdings of Birla Sun Life Tax Relief ’96 included Sundaram Clayton Limited, Honeywell Automation India Limited, Gillette India Limited, Reliance Industries Limited, and Pfizer Limited. The scheme invests a minimum of 80% of its pooled money in equity instruments while the remaining 20% in fixed Income instruments.

Axis Long Term Equity Fund Vs Aditya Birla Sun Life Tax Relief ‘96

Axis Long Term Equity Fund and Aditya Birla Sun Life Tax Relief ’96 belong to the same category of ELSS yet, there exist differences between them. These differences are with respect to various parameters such as AUM, Current NAV, and Performance. So, let us compare and understand the differences between two schemes that are divided into four sections, namely, basics section, performance section, yearly performance section, and other details section.

Basics Section

It is the first section in comparison of the two schemes. The elements forming part of the basics section include Current NAV, Fincash Ratings, scheme category, and so on. To begin with the Current NAV, it can be said that, the NAV of Axis Long Term Equity Fund is higher than the NAV of Birla Sun Life Tax Relief ’96. As on April 16, 2018, the NAV of Axis Mutual Fund’s scheme was approximately INR 31 and for the scheme of Birla Sun Life Mutual Fund was INR 42. Comparison of Fincash Ratings reveals that Aditya Birla Sun Life Tax Relief ’96 is a 4-Star Rated Fund while Axis Long Term Equity Fund is a 3-Star rated fund. With respect to the scheme category it is said that both the schemes belong to the same category, that is, Equity ELSS. The summary of basics section is as follows.

Parameters
BasicsNAV
Net Assets (Cr)
Launch Date
Rating
Category
Sub Cat.
Category Rank
Risk
Expense Ratio
Sharpe Ratio
Information Ratio
Alpha Ratio
Benchmark
Exit Load
Axis Long Term Equity Fund
Growth
Fund Details
₹87.2435 ↑ 0.02   (0.02 %)
₹34,025 on 29 Feb 24
29 Dec 09
Equity
ELSS
20
Moderately High
1.61
1.81
-1.36
-4.18
Not Available
NIL
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
₹52.6 ↑ 0.32   (0.61 %)
₹15,006 on 29 Feb 24
6 Mar 08
Equity
ELSS
4
Moderately High
1.75
2.02
-2.61
-4.88
Not Available
NIL

Performance Section

The performance section compares the CAGR or Compounded Annual Growth Rate returns between both the schemes. This comparison is done at different time intervals such as 6 Month Return, 3 Year Return, 5 Year Return and Returns Since Inception. The overall comparison of the performance section shows that Axis Long Term Equity Fund leads the race in almost all the time intervals. The summary comparison of the performance section is tabulated as follows.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
Axis Long Term Equity Fund
Growth
Fund Details
7.2%
9.9%
19.6%
40.7%
12.1%
14.7%
16.4%
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
2.7%
6.2%
16.7%
35.4%
11.1%
10.6%
10.9%

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Yearly Performance Section

It is the third section in the comparison of schemes. It compares the absolute returns of both the schemes for a particular year. With respect to absolute returns, the data reveals that for certain years Axis Long Term Equity Fund has performed better and vice versa. The summary of the yearly performance section is tabulated as follows.

Parameters
Yearly Performance2023
2022
2021
2020
2019
Axis Long Term Equity Fund
Growth
Fund Details
22%
-12%
24.5%
20.5%
14.8%
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
18.9%
-1.4%
12.7%
15.2%
4.3%

Other Details Section

It is the last section in comparison of both the schemes and the parameters that form part of this section are AUM, Minimum SIP and lumpsum investment, and exit load. To begin with the minimum SIP and lumpsum investment amount, it can be said that the SIP and lumpsum amount is same for both the schemes, that is, INR 500. The comparison of AUM reveals that there is a significant difference between both the schemes. As on March 31, 2018, the AUM of Axis Long Term Equity Fund was approximately INR 15,898 Crores and of Aditya Birla Sun Life Tax Relief ’96 was INR 5,523 Crores. Comparison of the exit load reveals that both the schemes do not have any exit load as they are ELSS based schemes. The table given below shows the comparison summary of other details section.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
Axis Long Term Equity Fund
Growth
Fund Details
₹500
₹500
Shreyash Devalkar - 0.66 Yr.
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
₹500
₹500
Atul Penkar - 2.25 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
Axis Long Term Equity Fund
Growth
Fund Details
DateValue
31 Mar 19₹10,000
31 Mar 20₹8,809
31 Mar 21₹13,885
31 Mar 22₹15,668
31 Mar 23₹13,903
31 Mar 24₹19,351
Growth of 10,000 investment over the years.
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
DateValue

Detailed Assets & Holdings Comparison

Asset Allocation
Axis Long Term Equity Fund
Growth
Fund Details
Asset ClassValue
Cash2.5%
Equity97.5%
Equity Sector Allocation
SectorValue
Financial Services23.93%
Consumer Cyclical12.74%
Basic Materials10.5%
Technology10.22%
Consumer Defensive9.93%
Health Care8.38%
Industrials7.63%
Utility6.47%
Communication Services5.89%
Energy1.8%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
7%₹2,509 Cr6,125,879
↓ -78,994
Torrent Power Ltd (Utilities)
Equity, Since 30 Jun 13 | 532779
6%₹2,078 Cr19,282,984
↓ -328,235
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
6%₹2,008 Cr3,091,472
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
5%₹1,779 Cr4,539,682
↓ -363,715
Nestle India Ltd (Consumer Defensive)
Equity, Since 31 Aug 14 | NESTLEIND
5%₹1,572 Cr6,055,941
↓ -801,928
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
5%₹1,546 Cr11,016,916
↑ 700,900
Info Edge (India) Ltd (Communication Services)
Equity, Since 31 May 14 | NAUKRI
5%₹1,533 Cr2,910,169
↓ -261,773
Pidilite Industries Ltd (Basic Materials)
Equity, Since 30 Nov 14 | PIDILITIND
4%₹1,398 Cr5,108,360
PI Industries Ltd (Basic Materials)
Equity, Since 30 Sep 20 | PIIND
3%₹1,070 Cr2,912,916
Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Nov 17 | DIVISLAB
3%₹998 Cr2,859,692
↓ -758,532
Asset Allocation
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
Asset ClassValue
Cash1.51%
Equity97.87%
Equity Sector Allocation
SectorValue
Financial Services24.21%
Consumer Cyclical18.71%
Industrials11.24%
Technology8.88%
Energy8.37%
Health Care7.91%
Basic Materials7.37%
Consumer Defensive5.79%
Communication Services3.01%
Utility1.27%
Real Estate1.12%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 21 | RELIANCE
6%₹923 Cr3,160,213
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
6%₹919 Cr8,737,798
↓ -1,600,000
Infosys Ltd (Technology)
Equity, Since 30 Jun 08 | INFY
6%₹867 Cr5,181,429
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 08 | HDFCBANK
5%₹811 Cr5,775,995
↓ -500,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Jun 08 | LT
5%₹729 Cr2,095,752
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Dec 22 | BHARTIARTL
3%₹452 Cr4,023,420
Honeywell Automation India Ltd (Industrials)
Equity, Since 30 Jun 08 | HONAUT
3%₹452 Cr119,063
TVS Holdings Ltd (Consumer Cyclical)
Equity, Since 31 Aug 23 | 520056
3%₹417 Cr460,256
Fortis Healthcare Ltd (Healthcare)
Equity, Since 31 Jan 20 | 532843
3%₹389 Cr9,542,579
State Bank of India (Financial Services)
Equity, Since 31 Jan 22 | SBIN
2%₹324 Cr4,328,465

Therefore, it can be concluded in a nutshell that, there are differences between both the schemes on account of numerous parameters. As a consequence, individuals should be careful before investing in any scheme. They should understand its modalities completely and check whether it is in-line with their investment objectives or not. This will help the individual to accomplish their objectives on time in a hassle-free manner.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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