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Fincash » Nippon India Tax Saver Vs Aditya Birla Sun Life Tax Relief '96

Nippon India Tax Saver Fund (ELSS) Vs Aditya Birla Sun Life Tax Relief ‘96 Fund

Updated on August 8, 2022 , 1691 views

Nippon India Tax Save Fund (Formerly known as Reliance tax saver Fund) and Aditya Birla Sun Life Tax Relief ’96 both are part of ELSS funds. Also known as tax saver funds these schemes do provide benefits of both Investing and tax deductions. People investing through these schemes can claim a tax Deduction up to INR 1,50,000 under Section 80C of income tax Act, 1961. So, let us look glance through both of these schemes and understand the parameters that differentiate them.

Nippon India Tax Saver Fund (Formerly Reliance Tax Saver Fund)

Important- From October 2019, Reliance Mutual Fund has been renamed as Nippon India Mutual Fund. Nippon Life has acquired majority (75%) stakes in Reliance Nippon Asset Management (RNAM). The company will continue to run its operations without any change in structure and management.

This fund was launched in the year 2005. The scheme’s investment objective is to generate long-term Capital appreciation by investing a predominant portion of the fund money in equity and equity-related instruments. Being a tax saver scheme, it has a lock-in period of three years.

Some of the top 10 holdings that constitute the portfolio of Reliance Tax Saver Fund (ELSS) include State Bank of India, TVS Motor Company Limited, Tata Steel Limited, and ICICI Bank Limited.

Aditya Birla Sun Life Tax Relief ’96 Fund

This scheme is a part of Aditya Birla Sun Life Mutual Fund. It was launched in the year 1996. It is an open-ended scheme whose primary objective is to provide an opportunity to save tax while growing your money through equity investments. This scheme invests a minimum of 80% of its fund money in equity instruments while the remaining in fixed Income instruments.

Some of the shares that constitute the top 10 holdings of Aditya Birla Sun Life Tax Relief ’96 include Sundaram Clayton Limited, Honeywell Automation India Limited, Gillette India Limited, and Reliance India limited.

Nippon India/Reliance Tax Saver Fund Vs Aditya Birla Sun Life Tax Relief ‘96

The parameters for comparison of Reliance Tax Saver Fund (ELSS) and Aditya Birla Sun Life Tax Relief ’96 Fund are divided into four categories, namely basics, performance, yearly performance, and other details.

Basics

In this component of basics, the parameters compared are current NAV, category of schemes, Fincash Ratings, expense ratio, AUM, and much more. To begin with the category of schemes, both the schemes form part of equity category and ELSS being its sub-category.

With respect to Fincash ratings, Nippon India Tax Saver Fund (ELSS) has a 3-Star rating while Aditya Birla Sun Life Tax Relief ’96 has a 4-star rating.

The table given below summarizes the comparison of both the schemes with respect to basics category.

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
Nippon India Tax Saver Fund (ELSS)
Growth
Fund Details
₹77.9537 ↓ -0.04   (-0.05 %)
₹10,711 on 30 Jun 22
21 Sep 05
Equity
ELSS
16
Moderately High
1.9
-0.01
-0.72
2.24
Not Available
NIL
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
₹40.73 ↓ -0.01   (-0.02 %)
₹12,676 on 30 Jun 22
6 Mar 08
Equity
ELSS
4
Moderately High
1.86
-1.16
-1.12
-9.5
Not Available
NIL

Performance

The next category of comparison is performance. In this category, the performance of the scheme at various time periods is compared. A glance at the performance of both the funds reveals there is not much difference in the returns generated by them though; Reliance/Nippon India Tax Saver Fund (ELSS) leads with respect to performance since inception.

As on February 12, 2018, the returns since inception generated by Reliance is approximately 16% while Birla Sun life is 12%.

However, when we look at returns generated at other time periods, Aditya Birla Sun Life Tax Relief ’96 Fund has performed better. The table given below shows the performance comparison between both the funds.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
Nippon India Tax Saver Fund (ELSS)
Growth
Fund Details
7.5%
8.9%
-0.4%
9.3%
17.1%
5.6%
12.9%
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
7.1%
8%
-0.9%
-0.3%
11.9%
8.2%
10.2%

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Yearly Performance

This section compares the details between the yearly performance of both the schemes. Based on the yearly performance we can say that the performance of both the schemes is almost the same. However, for the year 2014, we can say that the performance of Aditya Birla scheme was better than Nippon India/Reliance Tax Saver Fund (ELSS). The yearly performance of both the schemes is tabulated as follows.

Parameters
Yearly Performance2021
2020
2019
2018
2017
Nippon India Tax Saver Fund (ELSS)
Growth
Fund Details
37.6%
-0.4%
1.5%
-20.7%
46%
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
12.7%
15.2%
4.3%
-4.5%
43.2%

Other Details

This is the last category of comparison. The parameters forming part of this category include Minimum SIP and Lumpsum Investment, Benchmark, and others. So, let us have a glance at each of these factors. Let us first glance at, Minimum SIP and Lumpsum investment, both the schemes have the same investment amount under both SIP as well as lumpsum mode of investment, that is, INR 500.

The fund manager managing Reliance Tax Saver Fund (ELSS) is Mr. Ashwani Kumar.

Aditya Birla Sun Life Tax Relief '96 is managed by Mr. Ajay Garg

A table summarizing the differences of other details category is given below.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
Nippon India Tax Saver Fund (ELSS)
Growth
Fund Details
₹500
₹500
Rupesh Patel - 1.08 Yr.
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
₹500
₹500
Atul Penkar - 0.58 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
Nippon India Tax Saver Fund (ELSS)
Growth
Fund Details
DateValue
31 Jul 17₹10,000
31 Jul 18₹9,314
31 Jul 19₹8,193
31 Jul 20₹7,100
31 Jul 21₹11,474
31 Jul 22₹12,568
Growth of 10,000 investment over the years.
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
DateValue
31 Jul 17₹10,000
31 Jul 18₹11,292
31 Jul 19₹10,133
31 Jul 20₹10,511
31 Jul 21₹14,210
31 Jul 22₹14,014

Detailed Assets & Holdings Comparison

Asset Allocation
Nippon India Tax Saver Fund (ELSS)
Growth
Fund Details
Asset ClassValue
Cash1.75%
Equity98.25%
Equity Sector Allocation
SectorValue
Financial Services37.29%
Consumer Cyclical11.49%
Industrials9.59%
Basic Materials9.5%
Technology9.24%
Energy6.5%
Consumer Defensive4.45%
Utility3.38%
Communication Services3.37%
Health Care2.96%
Real Estate0.4%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 29 Feb 20 | HDFCBANK
8%₹863 Cr6,400,000
ICICI Bank Ltd (Financial Services)
Equity, Since 28 Feb 15 | ICICIBANK
7%₹778 Cr11,000,000
Infosys Ltd (Technology)
Equity, Since 31 Mar 20 | INFY
7%₹716 Cr4,900,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 20 | RELIANCE
6%₹636 Cr2,450,000
State Bank of India (Financial Services)
Equity, Since 31 Dec 13 | SBIN
4%₹466 Cr10,000,000
Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 20 | 532215
4%₹427 Cr6,700,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 20 | HDFC
4%₹391 Cr1,800,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 May 18 | LT
3%₹312 Cr2,000,000
NTPC Ltd (Utilities)
Equity, Since 28 Feb 19 | 532555
2%₹257 Cr17,990,000
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 20 | KOTAKBANK
2%₹249 Cr1,500,000
Asset Allocation
Aditya Birla Sun Life Tax Relief '96
Growth
Fund Details
Asset ClassValue
Cash1.92%
Equity98.08%
Equity Sector Allocation
SectorValue
Financial Services29.33%
Consumer Cyclical14.11%
Health Care13.11%
Industrials11.18%
Basic Materials10.48%
Energy8.78%
Technology6.24%
Consumer Defensive4.86%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 21 | RELIANCE
9%₹1,113 Cr4,288,224
↓ -140,465
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Jun 08 | HDFC
6%₹805 Cr3,710,162
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
6%₹795 Cr11,240,869
↑ 500,000
Honeywell Automation India Ltd (Industrials)
Equity, Since 30 Jun 08 | HONAUT
5%₹664 Cr196,645
↓ -30,919
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Apr 15 | KOTAKBANK
5%₹657 Cr3,957,270
↓ -400,000
Bayer CropScience Ltd (Basic Materials)
Equity, Since 31 Aug 11 | 506285
5%₹594 Cr1,185,901
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 08 | HDFCBANK
4%₹559 Cr4,146,719
↑ 430,000
Infosys Ltd (Technology)
Equity, Since 30 Jun 08 | INFY
4%₹523 Cr3,575,058
↑ 125,000
GlaxoSmithKline Pharmaceuticals Ltd (Healthcare)
Equity, Since 31 Mar 10 | GLAXO
4%₹521 Cr3,471,719
↓ -13,774
Pfizer Ltd (Healthcare)
Equity, Since 30 Apr 11 | PFIZER
4%₹512 Cr1,255,580
↓ -48,650

Thus, to conclude, we can say that though both the schemes have almost similar objectives yet; they differ on various grounds. As a consequence, individuals should be careful while choosing a scheme by understanding its modalities completely. They should check whether the schemes methodology suits their investment objectives. In addition, they can also consider a financial advisor if required. This will help them ensure that their money does not Land in wrong hands and they achieve their objectives in 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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