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Fincash » Axis Long Term Equity Vs Reliance Tax Saver Fund

Axis Long Term Equity Fund Vs Reliance Tax Saver Fund (ELSS)

Updated on November 18, 2019 , 861 views

Axis Long Term Equity Fund and Reliance tax saver Fund (ELSS) both belong to the category of ELSS or Equity Linked Savings Scheme. These schemes give individuals the benefits of both Investing as well as a tax deduction. Individuals investing in ELSS can claim a tax deduction to a maximum limit of INR 1,50,000 under Section 80C of Income Tax Act, 1961. Being a Tax Saving Scheme, these funds have a lock-in period of three years which is the lowest as compared to other tax savings scheme. Though both Axis Long Term Equity Fund and Reliance Tax Saver Fund (ELSS) belong to the same category yet; there exists a difference between both of them in terms of Current NAV, AUM, performance, and other factors. So, let’s compare and analyze both the schemes with respect to various parameters.

Axis Long Term Equity Fund

Axis Long Term Equity Fund is an open-ended ELSS scheme which was launched in December 2009. This scheme uses S&P BSE 200 Index to construct its portfolio. Its objective is to generate capital growth over long-term by investing in a diversified portfolio which has a significant proportion equity and equity-related instruments. As on January 31, 2018, some of the top constituents of Axis Long Term Equity Fund include HDFC Limited, Bajaj Finance Limited, Kotak Mahindra Bank Limited, and Maruti Suzuki India Limited. The proportion of large-cap shares in case of Axis Long Term Equity Fund ranges between 50-100% while Midcap share’s proportion will not be more than 50%. Axis Long Term Equity Fund is fund is managed solely by Mr. Jinesh Gopani. This scheme is suitable for an investment horizon of 3-5 years.

Reliance Tax Saver Fund (ELSS)

Reliance Tax Saver Fund is managed by Reliance Mutual Fund and is an open-ended tax saving scheme. The goal of this scheme is to generate capital appreciation in the long-term. This objective is accomplished by investing a significant proportion of its corpus in equity and equity-related instruments. Reliance Tax Saver Fund tries to maintain a balance between large cap and mid-cap companies in its portfolio and aims to invest in companies having high growth potential over the medium term. As on January 31, 2018, some of the company’s shares that form the top 10 holdings of Reliance Tax Saver Fund include State Bank of India, TVS Motor Company Limited, Tata Motors Limited, ICICI Bank Limited, and ABB India Limited. The fund manager who oversees the functioning of Reliance Tax Saver Fund is Mr. Ashwani Kumar.

Axis Long Term Equity Fund Vs Reliance Tax Saver Fund

Though both Axis Long Term Equity Fund and Reliance Tax Saver Fund ELSS are of the same category, nevertheless; there exists a difference between them with respect to various attributes. Some of these parameters include AUM, Current NAV, performance, and much more. So, let us compare and understand the differences between both the schemes based on various parameters that are divided into four sections, namely, Basics Section, Performance Section, Yearly Performance Section, and Other Details Section.

Basics Section

Basics Section compares the various parameters such as Current NAV, Fincash Rating, scheme category, and much more. To begin with the scheme category, it can be said that both the schemes belong to the same category that is, Equity ELSS. The next category is Fincash Rating. Based on Fincash Ratings both the schemes have the same rating that is, 3-Star. Comparison of Current NAV shows that Reliance Tax Saver Fund (ELSS) leads the race. As on February 27, 2018, The NAV of Reliance Tax Saver Fund (ELSS) is approximately INR 63 while of Axis Long Term Equity Fund is approximately INR 41. The summary of the basics section is shown in the table given below.

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
Reliance Tax Saver Fund (ELSS)
Growth
Fund Details
₹54.5369 ↑ 0.18   (0.32 %)
₹10,674 on 31 Oct 19
21 Sep 05
Equity
ELSS
16
Moderately High
2.17
0.13
-1.09
-14.25
Not Available
NIL
Axis Long Term Equity Fund
Growth
Fund Details
₹48.3593 ↓ -0.08   (-0.16 %)
₹21,492 on 31 Oct 19
29 Dec 09
Equity
ELSS
20
Moderately High
2.13
1.36
0.4
8.46
Not Available
NIL

Performance Section

The performance section compares the Compounded Annual Growth Rate (CAGR) returns of both the schemes at different time intervals. These intervals include 3 Month Return, 1 Year Return, 5 Year Return, and so on. The performance section reveals that though there is not much difference between the returns generated by both the schemes. However, in almost many instances the returns generated by Axis Long Term Equity Fund is higher as compared to returns generated by Reliance Tax Saver Fund. The summary of performance section is tabulated as follows.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
Reliance Tax Saver Fund (ELSS)
Growth
Fund Details
4.9%
13.1%
2.1%
-0.3%
4.5%
3.5%
12.7%
Axis Long Term Equity Fund
Growth
Fund Details
0.9%
9.8%
11.4%
16.5%
16.6%
11.5%
17.3%

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Yearly Performance Section

The yearly performance section compares the absolute returns of both the schemes for a particular year. This section shows that in certain instances the performance of Reliance Tax Saver Fund (ELSS) is better and vice versa. The table given below summarizes the comparison of yearly performance section.

Parameters
Yearly Performance2018
2017
2016
2015
2014
Reliance Tax Saver Fund (ELSS)
Growth
Fund Details
-20.7%
46%
4.2%
-2.9%
83%
Axis Long Term Equity Fund
Growth
Fund Details
2.7%
37.4%
-0.7%
6.7%
66.2%

Other Details Section

This is the last section in comparison of both the schemes. The various elements that are compared in this section include Minimum SIP and Lumpsum Investment, AUM, and Exit Load. With respect to the Minimum SIP and lumpsum investment, the amount is same for both the schemes that is INR 500. The comparison of AUM of both the schemes reveals that there is a difference between both of them. As on January 31, 2018, the AUM of Reliance Tax Saver Fund (ELSS) is approximately INR 10,811 crores and of Axis Long Term Equity Fund is INR 16,517 crores. Also, both the schemes do not carry any exit load as they are ELSS. The other details section is tabulated as follows.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
Reliance Tax Saver Fund (ELSS)
Growth
Fund Details
₹500
₹500
Ashwani Kumar - 14.03 Yr.
Axis Long Term Equity Fund
Growth
Fund Details
₹500
₹500
Jinesh Gopani - 7.84 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
Reliance Tax Saver Fund (ELSS)
Growth
Fund Details
DateValue
31 Oct 14₹10,000
31 Oct 15₹9,999
31 Oct 16₹11,468
31 Oct 17₹14,737
31 Oct 18₹11,780
31 Oct 19₹12,273
Growth of 10,000 investment over the years.
Axis Long Term Equity Fund
Growth
Fund Details
DateValue
31 Oct 14₹10,000
31 Oct 15₹11,417
31 Oct 16₹12,443
31 Oct 17₹14,718
31 Oct 18₹14,796
31 Oct 19₹18,192

Detailed Assets & Holdings Comparison

Asset Allocation
Reliance Tax Saver Fund (ELSS)
Growth
Fund Details
Asset ClassValue
Cash1.5%
Equity98.5%
Other0%
Equity Sector Allocation
SectorValue
Financial Services27.16%
Industrials25.98%
Consumer Cyclical21.25%
Basic Materials11.13%
Energy9.8%
Utility2.99%
Consumer Defensive0.06%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
State Bank of India (Financial Services)
Equity, Since 31 Dec 13 | SBIN
10%₹1,080 Cr34,560,000
↑ 9,315,000
Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 Aug 17 | TATAMOTORS
7%₹720 Cr40,500,000
↑ 10,800,000
ICICI Bank Ltd (Financial Services)
Equity, Since 28 Feb 15 | ICICIBANK
7%₹708 Cr15,300,000
↓ -900,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 May 18 | LT
7%₹703 Cr4,770,000
↑ 720,000
Tata Steel Ltd (Basic Materials)
Equity, Since 31 Jul 14 | TATASTEEL
5%₹582 Cr15,300,000
TVS Motor Co Ltd (Consumer Cyclical)
Equity, Since 31 Jul 12 | 532343
4%₹471 Cr9,683,297
↓ -756,703
ABB India Ltd (Industrials)
Equity, Since 31 Mar 12 | 500002
4%₹453 Cr3,106,034
↓ -226,966
Honeywell Automation India Ltd (Industrials)
Equity, Since 31 Dec 12 | 517174
4%₹446 Cr158,829
↓ -3,802
Hindustan Petroleum Corp Ltd (Energy)
Equity, Since 30 Apr 18 | HINDPETRO
4%₹378 Cr11,610,000
Ashok Leyland Ltd (Consumer Cyclical)
Equity, Since 30 Nov 18 | 500477
3%₹373 Cr48,600,000
Asset Allocation
Axis Long Term Equity Fund
Growth
Fund Details
Asset ClassValue
Cash5.05%
Equity94.95%
Equity Sector Allocation
SectorValue
Financial Services41.02%
Consumer Cyclical14.2%
Consumer Defensive11.21%
Technology7.96%
Basic Materials5.48%
Communication Services5.47%
Industrials5.23%
Utility3.35%
Health Care1.4%
Real Estate0%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
10%₹1,948 Cr4,815,508
↓ -79,570
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 11 | KOTAKBANK
9%₹1,796 Cr10,922,075
↓ -177,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
8%₹1,571 Cr12,795,750
Pidilite Industries Ltd (Basic Materials)
Equity, Since 30 Nov 14 | PIDILITIND
8%₹1,533 Cr10,619,943
↑ 247,053
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
7%₹1,363 Cr7,325,645
↓ -2,875
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
6%₹1,303 Cr6,206,417
↓ -551,247
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFC
6%₹1,144 Cr5,786,662
↑ 413,899
GRUH Finance Ltd (Financial Services)
Equity, Since 31 May 11 | 511288
5%₹996 Cr36,971,961
↑ 370,062
Info Edge (India) Ltd (Technology)
Equity, Since 31 May 14 | NAUKRI
4%₹914 Cr4,524,049
↑ 50,682
Clearing Corporation Of India Ltd
CBLO | -
4%₹912 Cr

Thus, the above pointers show that both the schemes differ on various parameters. As a consequence, individuals should be careful while choosing any schemes. They should understand the modalities of a scheme completely before investing in it. In addition, they can also consult a financial advisor if required. This will help them to ensure that their objectives are safe and your objectives are accomplished on time.

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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