2019 ലെ നിക്ഷേപത്തിനുള്ള മികച്ച ELSS മ്യൂച്വൽ ഫണ്ടുകൾ

Updated on December 20, 2025 , 986 views

മികച്ച ഫണ്ട് ഫണ്ടുകൾ അല്ലെങ്കിൽ ഇക്വിറ്റി ലിങ്ക്ഡ് സേവിംഗ്സ് സ്കീമുകൾ ഇക്വിറ്റി വൈവിധ്യവൽക്കരിക്കപ്പെട്ടിരിക്കുന്നുമ്യൂച്വൽ ഫണ്ടുകൾ മാർക്കറ്റ്-ലിങ്ക്ഡ് റിട്ടേണുകൾ നൽകുന്നതിന് ഇക്വിറ്റി-ലിങ്ക്ഡ് ഉപകരണങ്ങളിൽ (ഷെയറുകളും സ്റ്റോക്കുകളും പോലുള്ളവ) പ്രധാനമായും നിക്ഷേപം നടത്തുന്നു. സാധാരണഗതിയിൽ, ഫണ്ട് കോർപ്പസിന്റെ 80% ഇക്വിറ്റിയിലും ബാക്കി കടം ഉപകരണങ്ങളിലും നിക്ഷേപിക്കുന്നു. മികച്ചത്ELSS നികുതി ആനുകൂല്യങ്ങൾ വാഗ്ദാനം ചെയ്യുന്നതിനാൽ ഫണ്ടുകൾ ടാക്സ് സേവിംഗ് മ്യൂച്വൽ ഫണ്ടുകൾ എന്നും അറിയപ്പെടുന്നുവകുപ്പ് 80 സി ന്റെആദായ നികുതി പ്രവർത്തിക്കുക. 2019 ലെ മികച്ച ഫണ്ടുകൾ അവരുടെ പ്രകടനമനുസരിച്ച് ചുവടെ പട്ടികപ്പെടുത്തിയിരിക്കുന്നു.

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മികച്ച 10 ELSS ഫണ്ടുകൾ 2019 പ്രകടനത്തെ അടിസ്ഥാനമാക്കി

Fund	NAV	Net Assets (Cr)	2024 (%)	2023 (%)	2022 (%)	2021 (%)	2020 (%)
Motilal Oswal Long Term Equity Fund Growth	₹50.8055 ↑ 0.60	₹4,444	47.7	37	1.8	32.1	8.8
JM Tax Gain Fund Growth	₹50.5016 ↑ 0.53	₹228	29	30.9	0.5	32.2	18.3
SBI Magnum Tax Gain Fund Growth	₹452.32 ↑ 3.06	₹32,327	27.7	40	6.9	31	18.9
Invesco India Tax Plan Growth	₹125.3 ↑ 0.41	₹2,838	25.2	30.9	-7.7	32.6	19.2
DSP Tax Saver Fund Growth	₹145.073 ↑ 1.10	₹17,570	23.9	30	4.5	35.1	15
BNP Paribas Long Term Equity Fund (ELSS) Growth	₹100.183 ↑ 0.62	₹952	23.6	31.3	-2.1	23.6	17.8
LIC MF Tax Plan Growth	₹154.268 ↑ 0.78	₹1,107	22.6	26.3	-1.6	26.2	8.9
Franklin India Taxshield Growth	₹1,501.49 ↑ 9.00	₹6,788	22.4	31.2	5.4	36.7	9.8
Kotak Tax Saver Fund Growth	₹117.552 ↑ 0.74	₹6,516	21.8	23.6	6.9	33.2	14.9
BOI AXA Tax Advantage Fund Growth	₹160.28 ↑ 1.10	₹1,411	21.6	34.8	-1.3	41.5	31.2
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 22 Dec 25

Research Highlights & Commentary of 10 Funds showcased

Commentary	Motilal Oswal Long Term Equity Fund	JM Tax Gain Fund	SBI Magnum Tax Gain Fund	Invesco India Tax Plan	DSP Tax Saver Fund	BNP Paribas Long Term Equity Fund (ELSS)	LIC MF Tax Plan	Franklin India Taxshield	Kotak Tax Saver Fund	BOI AXA Tax Advantage Fund
Point 1	Upper mid AUM (₹4,444 Cr).	Bottom quartile AUM (₹228 Cr).	Highest AUM (₹32,327 Cr).	Lower mid AUM (₹2,838 Cr).	Top quartile AUM (₹17,570 Cr).	Bottom quartile AUM (₹952 Cr).	Bottom quartile AUM (₹1,107 Cr).	Upper mid AUM (₹6,788 Cr).	Upper mid AUM (₹6,516 Cr).	Lower mid AUM (₹1,411 Cr).
Point 2	Established history (10+ yrs).	Established history (17+ yrs).	Established history (18+ yrs).	Established history (18+ yrs).	Established history (18+ yrs).	Established history (19+ yrs).	Oldest track record among peers (26 yrs).	Established history (26+ yrs).	Established history (20+ yrs).	Established history (16+ yrs).
Point 3	Not Rated.	Rating: 3★ (top quartile).	Rating: 2★ (lower mid).	Rating: 3★ (upper mid).	Top rated.	Rating: 3★ (upper mid).	Rating: 1★ (bottom quartile).	Rating: 2★ (bottom quartile).	Rating: 3★ (upper mid).	Rating: 3★ (lower mid).
Point 4	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.	Risk profile: Moderately High.
Point 5	5Y return: 21.15% (top quartile).	5Y return: 19.25% (upper mid).	5Y return: 22.58% (top quartile).	5Y return: 15.47% (bottom quartile).	5Y return: 20.49% (upper mid).	5Y return: 16.48% (bottom quartile).	5Y return: 14.98% (bottom quartile).	5Y return: 19.83% (upper mid).	5Y return: 17.75% (lower mid).	5Y return: 17.94% (lower mid).
Point 6	3Y return: 22.90% (top quartile).	3Y return: 20.44% (upper mid).	3Y return: 23.88% (top quartile).	3Y return: 17.13% (lower mid).	3Y return: 20.26% (upper mid).	3Y return: 19.68% (upper mid).	3Y return: 16.23% (bottom quartile).	3Y return: 18.07% (lower mid).	3Y return: 15.48% (bottom quartile).	3Y return: 16.55% (bottom quartile).
Point 7	1Y return: -7.79% (bottom quartile).	1Y return: 4.00% (upper mid).	1Y return: 6.60% (top quartile).	1Y return: -1.90% (bottom quartile).	1Y return: 7.91% (top quartile).	1Y return: 5.74% (upper mid).	1Y return: 1.95% (lower mid).	1Y return: 3.13% (upper mid).	1Y return: 2.13% (lower mid).	1Y return: -5.54% (bottom quartile).
Point 8	Alpha: -7.87 (bottom quartile).	Alpha: -2.61 (upper mid).	Alpha: -1.43 (upper mid).	Alpha: -6.48 (bottom quartile).	Alpha: -0.89 (top quartile).	Alpha: -0.82 (top quartile).	Alpha: -4.60 (lower mid).	Alpha: -1.98 (upper mid).	Alpha: -4.43 (lower mid).	Alpha: -9.63 (bottom quartile).
Point 9	Sharpe: -0.21 (lower mid).	Sharpe: -0.10 (upper mid).	Sharpe: -0.04 (upper mid).	Sharpe: -0.32 (bottom quartile).	Sharpe: 0.03 (top quartile).	Sharpe: 0.04 (top quartile).	Sharpe: -0.24 (bottom quartile).	Sharpe: -0.12 (upper mid).	Sharpe: -0.19 (lower mid).	Sharpe: -0.39 (bottom quartile).
Point 10	Information ratio: 0.66 (upper mid).	Information ratio: 0.80 (upper mid).	Information ratio: 1.89 (top quartile).	Information ratio: 0.20 (lower mid).	Information ratio: 0.94 (top quartile).	Information ratio: 0.73 (upper mid).	Information ratio: -0.09 (bottom quartile).	Information ratio: 0.58 (lower mid).	Information ratio: -0.15 (bottom quartile).	Information ratio: 0.12 (bottom quartile).

Motilal Oswal Long Term Equity Fund

Upper mid AUM (₹4,444 Cr).
Established history (10+ yrs).
Not Rated.
Risk profile: Moderately High.
5Y return: 21.15% (top quartile).
3Y return: 22.90% (top quartile).
1Y return: -7.79% (bottom quartile).
Alpha: -7.87 (bottom quartile).
Sharpe: -0.21 (lower mid).
Information ratio: 0.66 (upper mid).

JM Tax Gain Fund

Bottom quartile AUM (₹228 Cr).
Established history (17+ yrs).
Rating: 3★ (top quartile).
Risk profile: Moderately High.
5Y return: 19.25% (upper mid).
3Y return: 20.44% (upper mid).
1Y return: 4.00% (upper mid).
Alpha: -2.61 (upper mid).
Sharpe: -0.10 (upper mid).
Information ratio: 0.80 (upper mid).

SBI Magnum Tax Gain Fund

Highest AUM (₹32,327 Cr).
Established history (18+ yrs).
Rating: 2★ (lower mid).
Risk profile: Moderately High.
5Y return: 22.58% (top quartile).
3Y return: 23.88% (top quartile).
1Y return: 6.60% (top quartile).
Alpha: -1.43 (upper mid).
Sharpe: -0.04 (upper mid).
Information ratio: 1.89 (top quartile).

Invesco India Tax Plan

Lower mid AUM (₹2,838 Cr).
Established history (18+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately High.
5Y return: 15.47% (bottom quartile).
3Y return: 17.13% (lower mid).
1Y return: -1.90% (bottom quartile).
Alpha: -6.48 (bottom quartile).
Sharpe: -0.32 (bottom quartile).
Information ratio: 0.20 (lower mid).

DSP Tax Saver Fund

Top quartile AUM (₹17,570 Cr).
Established history (18+ yrs).
Top rated.
Risk profile: Moderately High.
5Y return: 20.49% (upper mid).
3Y return: 20.26% (upper mid).
1Y return: 7.91% (top quartile).
Alpha: -0.89 (top quartile).
Sharpe: 0.03 (top quartile).
Information ratio: 0.94 (top quartile).

BNP Paribas Long Term Equity Fund (ELSS)

Bottom quartile AUM (₹952 Cr).
Established history (19+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately High.
5Y return: 16.48% (bottom quartile).
3Y return: 19.68% (upper mid).
1Y return: 5.74% (upper mid).
Alpha: -0.82 (top quartile).
Sharpe: 0.04 (top quartile).
Information ratio: 0.73 (upper mid).

LIC MF Tax Plan

Bottom quartile AUM (₹1,107 Cr).
Oldest track record among peers (26 yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderately High.
5Y return: 14.98% (bottom quartile).
3Y return: 16.23% (bottom quartile).
1Y return: 1.95% (lower mid).
Alpha: -4.60 (lower mid).
Sharpe: -0.24 (bottom quartile).
Information ratio: -0.09 (bottom quartile).

Franklin India Taxshield

Upper mid AUM (₹6,788 Cr).
Established history (26+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderately High.
5Y return: 19.83% (upper mid).
3Y return: 18.07% (lower mid).
1Y return: 3.13% (upper mid).
Alpha: -1.98 (upper mid).
Sharpe: -0.12 (upper mid).
Information ratio: 0.58 (lower mid).

Kotak Tax Saver Fund

Upper mid AUM (₹6,516 Cr).
Established history (20+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately High.
5Y return: 17.75% (lower mid).
3Y return: 15.48% (bottom quartile).
1Y return: 2.13% (lower mid).
Alpha: -4.43 (lower mid).
Sharpe: -0.19 (lower mid).
Information ratio: -0.15 (bottom quartile).

BOI AXA Tax Advantage Fund

Lower mid AUM (₹1,411 Cr).
Established history (16+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately High.
5Y return: 17.94% (lower mid).
3Y return: 16.55% (bottom quartile).
1Y return: -5.54% (bottom quartile).
Alpha: -9.63 (bottom quartile).
Sharpe: -0.39 (bottom quartile).
Information ratio: 0.12 (bottom quartile).

മികച്ച പ്രകടനം മികച്ച ELSS ഫണ്ടുകൾ

1. Motilal Oswal Long Term Equity Fund

(Erstwhile Motilal Oswal MOSt Focused Long Term Fund)

The investment objective of the Scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Research Highlights for Motilal Oswal Long Term Equity Fund

Upper mid AUM (₹4,444 Cr).
Established history (10+ yrs).
Not Rated.
Risk profile: Moderately High.
5Y return: 21.15% (top quartile).
3Y return: 22.90% (top quartile).
1Y return: -7.79% (bottom quartile).
Alpha: -7.87 (bottom quartile).
Sharpe: -0.21 (lower mid).
Information ratio: 0.66 (upper mid).
Higher exposure to Industrials vs peer median.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~98%).
Largest holding Eternal Ltd (~6.1%).

Below is the key information for Motilal Oswal Long Term Equity Fund

Motilal Oswal Long Term Equity Fund Growth
Launch Date	21 Jan 15
NAV (22 Dec 25)	₹50.8055 ↑ 0.60 (1.20 %)
Net Assets (Cr)	₹4,444 on 30 Nov 25
Category	Equity - ELSS
AMC	Motilal Oswal Asset Management Co. Ltd
Rating	Not Rated
Risk	Moderately High
Expense Ratio	1.65
Sharpe Ratio	-0.21
Information Ratio	0.66
Alpha Ratio	-7.87
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹14,016
30 Nov 22	₹14,784
30 Nov 23	₹18,663
30 Nov 24	₹28,304
30 Nov 25	₹27,373

Motilal Oswal Long Term Equity Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹518,033.
Net Profit of ₹218,033 Invest Now

Returns for Motilal Oswal Long Term Equity Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	-2.6%
3 Month	-4.7%
6 Month	-1%
1 Year	-7.8%
3 Year	22.9%
5 Year	21.1%
10 Year
15 Year
Since launch	16.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	47.7%
2023	37%
2022	1.8%
2021	32.1%
2020	8.8%
2019	13.2%
2018	-8.7%
2017	44%
2016	12.5%
2015

Fund Manager information for Motilal Oswal Long Term Equity Fund

Name	Since	Tenure
Ajay Khandelwal	11 Dec 23	1.98 Yr.
Rakesh Shetty	22 Nov 22	3.03 Yr.
Atul Mehra	1 Oct 24	1.17 Yr.

Data below for Motilal Oswal Long Term Equity Fund as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Industrials	24.8%
Financial Services	23.59%
Consumer Cyclical	17.27%
Technology	16.32%
Basic Materials	7.23%
Real Estate	4.07%
Health Care	2.75%
Consumer Defensive	1.96%
Communication Services	0.38%

Asset Allocation

Asset Class	Value
Cash	1.63%
Equity	98.37%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Eternal Ltd (Consumer Cyclical) Equity, Since 31 Oct 23 \| 543320	6%	₹269 Cr	8,970,581
Multi Commodity Exchange of India Ltd (Financial Services) Equity, Since 29 Feb 24 \| MCX	6%	₹261 Cr	259,208
Muthoot Finance Ltd (Financial Services) Equity, Since 30 Jun 25 \| MUTHOOTFIN	5%	₹205 Cr	546,874
Piramal Finance Ltd (Financial Services) Equity, Since 30 Sep 25 \| PIRAMALFIN	4%	₹198 Cr	1,279,233 ↑ 1,279,233
Waaree Energies Ltd (Technology) Equity, Since 31 Oct 24 \| 544277	4%	₹185 Cr	583,979
PTC Industries Ltd (Industrials) Equity, Since 30 Sep 24 \| 539006	4%	₹182 Cr	100,321
Prestige Estates Projects Ltd (Real Estate) Equity, Since 31 Oct 23 \| PRESTIGE	4%	₹181 Cr	1,077,437
Amber Enterprises India Ltd Ordinary Shares (Consumer Cyclical) Equity, Since 31 Mar 24 \| AMBER	4%	₹173 Cr	240,350
Apar Industries Ltd (Industrials) Equity, Since 31 Dec 23 \| APARINDS	4%	₹169 Cr	184,630
One97 Communications Ltd (Technology) Equity, Since 30 Jun 25 \| 543396	4%	₹166 Cr	1,256,967

2. JM Tax Gain Fund

The investment objective is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities and to enable investors a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme does not guarantee/indicate any returns.

Research Highlights for JM Tax Gain Fund

Bottom quartile AUM (₹228 Cr).
Established history (17+ yrs).
Rating: 3★ (top quartile).
Risk profile: Moderately High.
5Y return: 19.25% (upper mid).
3Y return: 20.44% (upper mid).
1Y return: 4.00% (upper mid).
Alpha: -2.61 (upper mid).
Sharpe: -0.10 (upper mid).
Information ratio: 0.80 (upper mid).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~99%).
Largest holding HDFC Bank Ltd (~4.3%).

Below is the key information for JM Tax Gain Fund

JM Tax Gain Fund Growth
Launch Date	31 Mar 08
NAV (22 Dec 25)	₹50.5016 ↑ 0.53 (1.06 %)
Net Assets (Cr)	₹228 on 30 Nov 25
Category	Equity - ELSS
AMC	JM Financial Asset Management Limited
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	2.37
Sharpe Ratio	-0.1
Information Ratio	0.8
Alpha Ratio	-2.61
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹13,829
30 Nov 22	₹14,514
30 Nov 23	₹17,573
30 Nov 24	₹24,092
30 Nov 25	₹24,916

JM Tax Gain Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹493,520.
Net Profit of ₹193,520 Invest Now

Returns for JM Tax Gain Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	0.5%
3 Month	2.5%
6 Month	6.5%
1 Year	4%
3 Year	20.4%
5 Year	19.2%
10 Year
15 Year
Since launch	9.6%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	29%
2023	30.9%
2022	0.5%
2021	32.2%
2020	18.3%
2019	14.9%
2018	-4.6%
2017	42.6%
2016	5.2%
2015	-0.6%

Fund Manager information for JM Tax Gain Fund

Name	Since	Tenure
Satish Ramanathan	1 Oct 24	1.17 Yr.
Asit Bhandarkar	31 Dec 21	3.92 Yr.
Ruchi Fozdar	4 Oct 24	1.16 Yr.
Deepak Gupta	11 Apr 25	0.64 Yr.

Data below for JM Tax Gain Fund as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Financial Services	28.37%
Consumer Cyclical	15.76%
Technology	12.64%
Industrials	10.67%
Basic Materials	9.01%
Health Care	8.99%
Consumer Defensive	3.78%
Energy	3.67%
Real Estate	3.47%
Communication Services	2.34%

Asset Allocation

Asset Class	Value
Cash	1.3%
Equity	98.7%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 11 \| HDFCBANK	4%	₹10 Cr	98,262
Reliance Industries Ltd (Energy) Equity, Since 30 Jun 25 \| RELIANCE	4%	₹8 Cr	53,400
Larsen & Toubro Ltd (Industrials) Equity, Since 30 Nov 10 \| LT	4%	₹8 Cr	19,647
ICICI Bank Ltd (Financial Services) Equity, Since 31 Mar 22 \| ICICIBANK	3%	₹8 Cr	56,000
Maruti Suzuki India Ltd (Consumer Cyclical) Equity, Since 30 Sep 24 \| MARUTI	3%	₹6 Cr	3,956
One97 Communications Ltd (Technology) Equity, Since 31 May 25 \| 543396	3%	₹6 Cr	47,500
Max Financial Services Ltd (Financial Services) Equity, Since 31 May 25 \| MFSL	3%	₹6 Cr	36,400
360 One Wam Ltd Ordinary Shares (Financial Services) Equity, Since 30 Apr 25 \| 360ONE	2%	₹6 Cr	46,500
Karur Vysya Bank Ltd (Financial Services) Equity, Since 30 Apr 25 \| KARURVYSYA	2%	₹5 Cr	218,000
Syrma SGS Technology Ltd (Technology) Equity, Since 31 May 25 \| SYRMA	2%	₹5 Cr	65,457 ↓ -6,500

3. SBI Magnum Tax Gain Fund

To deliver the benefit of investment in a portfolio of equity shares, while offering deduction on such investment made in the scheme under section 80C of the Income-tax Act, 1961. It also seeks to distribute income periodically depending on distributable surplus. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to avail Section 80C benefits.

Research Highlights for SBI Magnum Tax Gain Fund

Highest AUM (₹32,327 Cr).
Established history (18+ yrs).
Rating: 2★ (lower mid).
Risk profile: Moderately High.
5Y return: 22.58% (top quartile).
3Y return: 23.88% (top quartile).
1Y return: 6.60% (top quartile).
Alpha: -1.43 (upper mid).
Sharpe: -0.04 (upper mid).
Information ratio: 1.89 (top quartile).
Top sector: Financial Services.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Equity-heavy allocation (~93%).
High-quality debt (AAA/AA ~100%).
Largest holding HDFC Bank Ltd (~8.9%).

Below is the key information for SBI Magnum Tax Gain Fund

SBI Magnum Tax Gain Fund Growth
Launch Date	7 May 07
NAV (22 Dec 25)	₹452.32 ↑ 3.06 (0.68 %)
Net Assets (Cr)	₹32,327 on 30 Nov 25
Category	Equity - ELSS
AMC	SBI Funds Management Private Limited
Rating	☆☆
Risk	Moderately High
Expense Ratio	1.6
Sharpe Ratio	-0.04
Information Ratio	1.89
Alpha Ratio	-1.43
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹13,920
30 Nov 22	₹15,566
30 Nov 23	₹19,728
30 Nov 24	₹27,371
30 Nov 25	₹28,702

SBI Magnum Tax Gain Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹530,691.
Net Profit of ₹230,691 Invest Now

Returns for SBI Magnum Tax Gain Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	1%
3 Month	2.9%
6 Month	4.2%
1 Year	6.6%
3 Year	23.9%
5 Year	22.6%
10 Year
15 Year
Since launch	12.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	27.7%
2023	40%
2022	6.9%
2021	31%
2020	18.9%
2019	4%
2018	-8.3%
2017	33%
2016	2.1%
2015	3.2%

Fund Manager information for SBI Magnum Tax Gain Fund

Name	Since	Tenure
Dinesh Balachandran	10 Sep 16	9.23 Yr.

Data below for SBI Magnum Tax Gain Fund as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Financial Services	29.45%
Consumer Cyclical	10.76%
Basic Materials	9.98%
Energy	9.14%
Technology	7.33%
Industrials	6.68%
Health Care	6.67%
Utility	4.14%
Consumer Defensive	4.02%
Communication Services	3.35%
Real Estate	1.16%

Asset Allocation

Asset Class	Value
Cash	7.2%
Equity	92.69%
Debt	0.12%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 30 Jun 07 \| HDFCBANK	9%	₹2,880 Cr	28,586,506
Reliance Industries Ltd (Energy) Equity, Since 30 Apr 06 \| RELIANCE	5%	₹1,767 Cr	11,275,148
Tata Steel Ltd (Basic Materials) Equity, Since 31 Oct 21 \| TATASTEEL	3%	₹1,041 Cr	62,000,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 Jan 17 \| ICICIBANK	3%	₹1,030 Cr	7,416,237
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 31 Dec 16 \| M&M	3%	₹945 Cr	2,515,083
Cipla Ltd (Healthcare) Equity, Since 31 Jul 18 \| CIPLA	3%	₹934 Cr	6,098,542
State Bank of India (Financial Services) Equity, Since 31 May 06 \| SBIN	3%	₹914 Cr	9,335,639
ITC Ltd (Consumer Defensive) Equity, Since 29 Feb 12 \| ITC	3%	₹866 Cr	21,414,825
Axis Bank Ltd (Financial Services) Equity, Since 30 Sep 11 \| AXISBANK	3%	₹828 Cr	6,473,332
Mahindra & Mahindra Financial Services Ltd (Financial Services) Equity, Since 30 Nov 20 \| M&MFIN	2%	₹784 Cr	21,086,115

4. Invesco India Tax Plan

The investment objective of the Scheme is to generate long term capital growth from a diversified portfolio of predominantly equity and equity-related securities.

Research Highlights for Invesco India Tax Plan

Lower mid AUM (₹2,838 Cr).
Established history (18+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately High.
5Y return: 15.47% (bottom quartile).
3Y return: 17.13% (lower mid).
1Y return: -1.90% (bottom quartile).
Alpha: -6.48 (bottom quartile).
Sharpe: -0.32 (bottom quartile).
Information ratio: 0.20 (lower mid).
Higher exposure to Consumer Cyclical vs peer median.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~100%).
Largest holding Infosys Ltd (~5.2%).

Below is the key information for Invesco India Tax Plan

Invesco India Tax Plan Growth
Launch Date	29 Dec 06
NAV (22 Dec 25)	₹125.3 ↑ 0.41 (0.33 %)
Net Assets (Cr)	₹2,838 on 30 Nov 25
Category	Equity - ELSS
AMC	Invesco Asset Management (India) Private Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	1.91
Sharpe Ratio	-0.32
Information Ratio	0.2
Alpha Ratio	-6.48
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹13,863
30 Nov 22	₹13,646
30 Nov 23	₹16,250
30 Nov 24	₹21,520
30 Nov 25	₹21,387

Invesco India Tax Plan SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹447,579.
Net Profit of ₹147,579 Invest Now

Returns for Invesco India Tax Plan

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	-0.7%
3 Month	-2.4%
6 Month	0.5%
1 Year	-1.9%
3 Year	17.1%
5 Year	15.5%
10 Year
15 Year
Since launch	14.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	25.2%
2023	30.9%
2022	-7.7%
2021	32.6%
2020	19.2%
2019	9.4%
2018	-1.3%
2017	35.7%
2016	3.4%
2015	5.8%

Fund Manager information for Invesco India Tax Plan

Name	Since	Tenure
Deepesh Kashyap	1 Jul 25	0.42 Yr.

Data below for Invesco India Tax Plan as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Consumer Cyclical	23.84%
Financial Services	20.88%
Industrials	17.14%
Technology	11.7%
Health Care	10.05%
Consumer Defensive	5.49%
Real Estate	5.05%
Basic Materials	2.56%
Communication Services	2.01%
Utility	1.1%

Asset Allocation

Asset Class	Value
Cash	0.16%
Equity	99.84%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Infosys Ltd (Technology) Equity, Since 31 Dec 19 \| INFY	5%	₹147 Cr	944,949 ↓ -133,402
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 22 \| HDFCBANK	5%	₹136 Cr	1,350,000 ↓ -150,000
Bajaj Finance Ltd (Financial Services) Equity, Since 31 Jan 25 \| BAJFINANCE	3%	₹93 Cr	900,000
LTIMindtree Ltd (Technology) Equity, Since 30 Sep 24 \| LTIM	3%	₹89 Cr	146,433 ↓ -5,000
Mrs Bectors Food Specialities Ltd Ordinary Shares (Consumer Defensive) Equity, Since 30 Sep 24 \| BECTORFOOD	3%	₹87 Cr	668,093 ↑ 115,936
Metro Brands Ltd (Consumer Cyclical) Equity, Since 31 Jan 24 \| 543426	3%	₹75 Cr	639,377 ↑ 10,377
Kotak Mahindra Bank Ltd (Financial Services) Equity, Since 31 Jul 25 \| KOTAKBANK	3%	₹72 Cr	340,766
Jubilant Foodworks Ltd (Consumer Cyclical) Equity, Since 31 May 24 \| JUBLFOOD	3%	₹72 Cr	1,200,000
PTC Industries Ltd (Industrials) Equity, Since 30 Sep 24 \| 539006	2%	₹71 Cr	39,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 Dec 15 \| ICICIBANK	2%	₹71 Cr	509,425

5. DSP Tax Saver Fund

The primary investment objective of the Scheme is to seek to generate medium to long-term capital appreciation from a diversified portfolio that is substantially constituted of equity and equity related securities of corporates, and to enable investors to avail of a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time.

Research Highlights for DSP Tax Saver Fund

Top quartile AUM (₹17,570 Cr).
Established history (18+ yrs).
Top rated.
Risk profile: Moderately High.
5Y return: 20.49% (upper mid).
3Y return: 20.26% (upper mid).
1Y return: 7.91% (top quartile).
Alpha: -0.89 (top quartile).
Sharpe: 0.03 (top quartile).
Information ratio: 0.94 (top quartile).
Higher exposure to Financial Services vs peer median.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~99%).
Largest holding Axis Bank Ltd (~7.0%).

Below is the key information for DSP Tax Saver Fund

DSP Tax Saver Fund Growth
Launch Date	18 Jan 07
NAV (22 Dec 25)	₹145.073 ↑ 1.10 (0.76 %)
Net Assets (Cr)	₹17,570 on 30 Nov 25
Category	Equity - ELSS
AMC	DSP BlackRock Invmt Managers Pvt. Ltd.
Rating	☆☆☆☆
Risk	Moderately High
Expense Ratio	1.64
Sharpe Ratio	0.03
Information Ratio	0.94
Alpha Ratio	-0.89
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹14,233
30 Nov 22	₹15,547
30 Nov 23	₹18,228
30 Nov 24	₹24,717
30 Nov 25	₹26,109

DSP Tax Saver Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹505,644.
Net Profit of ₹205,644 Invest Now

Returns for DSP Tax Saver Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	1.1%
3 Month	3.9%
6 Month	4.6%
1 Year	7.9%
3 Year	20.3%
5 Year	20.5%
10 Year
15 Year
Since launch	15.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	23.9%
2023	30%
2022	4.5%
2021	35.1%
2020	15%
2019	14.8%
2018	-7.6%
2017	36.3%
2016	11.3%
2015	4.4%

Fund Manager information for DSP Tax Saver Fund

Name	Since	Tenure
Rohit Singhania	16 Jul 15	10.39 Yr.

Data below for DSP Tax Saver Fund as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Financial Services	39.1%
Consumer Cyclical	9.87%
Technology	9.63%
Health Care	9.15%
Basic Materials	7.89%
Energy	5.34%
Communication Services	5.02%
Industrials	4.75%
Consumer Defensive	4.71%
Utility	3.61%

Asset Allocation

Asset Class	Value
Cash	0.91%
Equity	99.09%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Axis Bank Ltd (Financial Services) Equity, Since 30 Nov 18 \| AXISBANK	7%	₹1,226 Cr	9,581,056 ↑ 1,041,426
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jul 08 \| HDFCBANK	7%	₹1,169 Cr	11,601,444 ↑ 437,536
State Bank of India (Financial Services) Equity, Since 30 Jun 20 \| SBIN	6%	₹1,042 Cr	10,647,468 ↓ -1,358,035
Infosys Ltd (Technology) Equity, Since 31 Mar 12 \| INFY	6%	₹1,033 Cr	6,618,223 ↓ -913,402
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 16 \| ICICIBANK	6%	₹996 Cr	7,169,289 ↑ 321,460
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Jul 19 \| BHARTIARTL	3%	₹565 Cr	2,687,715 ↓ -161,382
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 30 Nov 21 \| M&M	3%	₹529 Cr	1,408,898 ↓ -116,353
Kotak Mahindra Bank Ltd (Financial Services) Equity, Since 31 Oct 22 \| KOTAKBANK	3%	₹526 Cr	2,473,650
Larsen & Toubro Ltd (Industrials) Equity, Since 30 Jun 24 \| LT	2%	₹435 Cr	1,068,068
Samvardhana Motherson International Ltd (Consumer Cyclical) Equity, Since 31 Dec 22 \| MOTHERSON	2%	₹413 Cr	35,549,980 ↑ 1,335,250

6. BNP Paribas Long Term Equity Fund (ELSS)

The investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent fromtime to time. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.

Research Highlights for BNP Paribas Long Term Equity Fund (ELSS)

Bottom quartile AUM (₹952 Cr).
Established history (19+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately High.
5Y return: 16.48% (bottom quartile).
3Y return: 19.68% (upper mid).
1Y return: 5.74% (upper mid).
Alpha: -0.82 (top quartile).
Sharpe: 0.04 (top quartile).
Information ratio: 0.73 (upper mid).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~100%).
Largest holding HDFC Bank Ltd (~6.9%).

Below is the key information for BNP Paribas Long Term Equity Fund (ELSS)

BNP Paribas Long Term Equity Fund (ELSS) Growth
Launch Date	5 Jan 06
NAV (22 Dec 25)	₹100.183 ↑ 0.62 (0.63 %)
Net Assets (Cr)	₹952 on 30 Nov 25
Category	Equity - ELSS
AMC	BNP Paribas Asset Mgmt India Pvt. Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	2.21
Sharpe Ratio	0.04
Information Ratio	0.73
Alpha Ratio	-0.82
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹13,063
30 Nov 22	₹13,233
30 Nov 23	₹15,854
30 Nov 24	₹20,947
30 Nov 25	₹22,115

BNP Paribas Long Term Equity Fund (ELSS) SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹458,689.
Net Profit of ₹158,689 Invest Now

Returns for BNP Paribas Long Term Equity Fund (ELSS)

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	1%
3 Month	4.5%
6 Month	6.5%
1 Year	5.7%
3 Year	19.7%
5 Year	16.5%
10 Year
15 Year
Since launch	12.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	23.6%
2023	31.3%
2022	-2.1%
2021	23.6%
2020	17.8%
2019	14.3%
2018	-9.3%
2017	42.3%
2016	-6.6%
2015	7.7%

Fund Manager information for BNP Paribas Long Term Equity Fund (ELSS)

Name	Since	Tenure
Sanjay Chawla	14 Mar 22	3.72 Yr.
Pratish Krishnan	14 Mar 22	3.72 Yr.

Data below for BNP Paribas Long Term Equity Fund (ELSS) as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Financial Services	31.64%
Consumer Cyclical	14.77%
Industrials	11.49%
Technology	11.32%
Basic Materials	7.15%
Health Care	7%
Consumer Defensive	4.31%
Energy	4.21%
Communication Services	3.2%
Utility	3.01%

Asset Allocation

Asset Class	Value
Cash	0.05%
Equity	99.93%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Oct 08 \| HDFCBANK	7%	₹66 Cr	656,320
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 12 \| ICICIBANK	5%	₹46 Cr	329,900
Reliance Industries Ltd (Energy) Equity, Since 31 Oct 18 \| RELIANCE	4%	₹40 Cr	255,800
Bharti Airtel Ltd (Communication Services) Equity, Since 31 May 19 \| BHARTIARTL	3%	₹30 Cr	144,966
State Bank of India (Financial Services) Equity, Since 31 Mar 22 \| SBIN	3%	₹27 Cr	278,000
Infosys Ltd (Technology) Equity, Since 29 Feb 24 \| INFY	3%	₹27 Cr	173,000
Larsen & Toubro Ltd (Industrials) Equity, Since 30 Apr 20 \| LT	3%	₹25 Cr	62,520
Bharat Heavy Electricals Ltd (Industrials) Equity, Since 30 Nov 24 \| BHEL	3%	₹24 Cr	821,380
Eternal Ltd (Consumer Cyclical) Equity, Since 31 Jul 23 \| 543320	2%	₹24 Cr	790,813
Radico Khaitan Ltd (Consumer Defensive) Equity, Since 31 Jan 25 \| RADICO	2%	₹23 Cr	73,000

7. LIC MF Tax Plan

The investment objective of the scheme is to provide capital growth along with tax rebate and tax relief to our investors through prudent investments in the stock markets. However, there is no assurance that the investment objective of the Scheme will be realised.

Research Highlights for LIC MF Tax Plan

Bottom quartile AUM (₹1,107 Cr).
Oldest track record among peers (26 yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderately High.
5Y return: 14.98% (bottom quartile).
3Y return: 16.23% (bottom quartile).
1Y return: 1.95% (lower mid).
Alpha: -4.60 (lower mid).
Sharpe: -0.24 (bottom quartile).
Information ratio: -0.09 (bottom quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~98%).
High-quality debt (AAA/AA ~100%).
Largest holding HDFC Bank Ltd (~8.3%).

Below is the key information for LIC MF Tax Plan

LIC MF Tax Plan Growth
Launch Date	3 Feb 99
NAV (22 Dec 25)	₹154.268 ↑ 0.78 (0.51 %)
Net Assets (Cr)	₹1,107 on 30 Nov 25
Category	Equity - ELSS
AMC	LIC Mutual Fund Asset Mgmt Co Ltd
Rating	☆
Risk	Moderately High
Expense Ratio	2.01
Sharpe Ratio	-0.24
Information Ratio	-0.09
Alpha Ratio	-4.6
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹13,298
30 Nov 22	₹13,732
30 Nov 23	₹15,962
30 Nov 24	₹20,566
30 Nov 25	₹20,926

LIC MF Tax Plan SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹436,710.
Net Profit of ₹136,710 Invest Now

Returns for LIC MF Tax Plan

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	0.4%
3 Month	-0.5%
6 Month	1.1%
1 Year	1.9%
3 Year	16.2%
5 Year	15%
10 Year
15 Year
Since launch	11%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	22.6%
2023	26.3%
2022	-1.6%
2021	26.2%
2020	8.9%
2019	11.9%
2018	-1.1%
2017	37.3%
2016	3.3%
2015	-3%

Fund Manager information for LIC MF Tax Plan

Name	Since	Tenure
Yogesh Patil	1 Jul 24	1.42 Yr.
Dikshit Mittal	31 Jul 23	2.34 Yr.

Data below for LIC MF Tax Plan as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Financial Services	30.99%
Consumer Cyclical	18.59%
Industrials	13.45%
Consumer Defensive	9.96%
Health Care	7.18%
Technology	7.02%
Basic Materials	6.89%
Energy	2.47%
Communication Services	1.12%

Asset Allocation

Asset Class	Value
Cash	2.32%
Equity	97.68%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Oct 14 \| HDFCBANK	8%	₹92 Cr	916,422
ICICI Bank Ltd (Financial Services) Equity, Since 31 Jul 18 \| ICICIBANK	8%	₹84 Cr	604,329
Shakti Pumps (India) Ltd (Industrials) Equity, Since 31 Mar 24 \| SHAKTIPUMP	5%	₹53 Cr	777,563
Axis Bank Ltd (Financial Services) Equity, Since 30 Jun 21 \| AXISBANK	4%	₹44 Cr	342,519
Cholamandalam Investment and Finance Co Ltd (Financial Services) Equity, Since 30 Jun 22 \| CHOLAFIN	3%	₹37 Cr	210,855
State Bank of India (Financial Services) Equity, Since 31 May 23 \| SBIN	3%	₹31 Cr	320,605
Larsen & Toubro Ltd (Industrials) Equity, Since 31 Jul 23 \| LT	3%	₹28 Cr	68,942
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 31 Jul 20 \| M&M	2%	₹24 Cr	65,130
Reliance Industries Ltd (Energy) Equity, Since 31 Jul 23 \| RELIANCE	2%	₹24 Cr	154,364
Eicher Motors Ltd (Consumer Cyclical) Equity, Since 31 Aug 22 \| EICHERMOT	2%	₹24 Cr	33,738

8. Franklin India Taxshield

The primary objective for Franklin IndiaTaxshield is to provide medium to long term growth of capital along with income tax rebate

Research Highlights for Franklin India Taxshield

Upper mid AUM (₹6,788 Cr).
Established history (26+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderately High.
5Y return: 19.83% (upper mid).
3Y return: 18.07% (lower mid).
1Y return: 3.13% (upper mid).
Alpha: -1.98 (upper mid).
Sharpe: -0.12 (upper mid).
Information ratio: 0.58 (lower mid).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~96%).
Largest holding HDFC Bank Ltd (~9.7%).

Below is the key information for Franklin India Taxshield

Franklin India Taxshield Growth
Launch Date	10 Apr 99
NAV (22 Dec 25)	₹1,501.49 ↑ 9.00 (0.60 %)
Net Assets (Cr)	₹6,788 on 31 Oct 25
Category	Equity - ELSS
AMC	Franklin Templeton Asst Mgmt(IND)Pvt Ltd
Rating	☆☆
Risk	Moderately High
Expense Ratio	1.81
Sharpe Ratio	-0.13
Information Ratio	0.58
Alpha Ratio	-1.98
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹14,193
30 Nov 22	₹15,756
30 Nov 23	₹18,574
30 Nov 24	₹24,588
30 Nov 25	₹25,331

Franklin India Taxshield SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹493,520.
Net Profit of ₹193,520 Invest Now

Returns for Franklin India Taxshield

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	-0.6%
3 Month	1.1%
6 Month	1.4%
1 Year	3.1%
3 Year	18.1%
5 Year	19.8%
10 Year
15 Year
Since launch	20.6%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	22.4%
2023	31.2%
2022	5.4%
2021	36.7%
2020	9.8%
2019	5.1%
2018	-3%
2017	29.1%
2016	4.7%
2015	4%

Fund Manager information for Franklin India Taxshield

Name	Since	Tenure
R. Janakiraman	2 May 16	9.59 Yr.
Rajasa Kakulavarapu	1 Dec 23	2 Yr.

Data below for Franklin India Taxshield as on 31 Oct 25

Equity Sector Allocation

Sector	Value
Financial Services	31.46%
Industrials	12.85%
Consumer Cyclical	10.87%
Technology	9.03%
Consumer Defensive	5.97%
Basic Materials	5.53%
Communication Services	5.5%
Health Care	5.46%
Utility	4.81%
Energy	3.4%
Real Estate	1.53%

Asset Allocation

Asset Class	Value
Cash	3.6%
Equity	96.4%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Mar 07 \| HDFCBANK	10%	₹657 Cr	6,520,834
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 18 \| ICICIBANK	7%	₹458 Cr	3,297,903 ↓ -1,249,011
Larsen & Toubro Ltd (Industrials) Equity, Since 31 Dec 19 \| LT	5%	₹360 Cr	883,853
Axis Bank Ltd (Financial Services) Equity, Since 30 Jun 14 \| AXISBANK	5%	₹317 Cr	2,477,634 ↑ 224,686
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Jan 07 \| BHARTIARTL	5%	₹309 Cr	1,471,571 ↓ -46,182
Infosys Ltd (Technology) Equity, Since 29 Feb 12 \| INFY	4%	₹300 Cr	1,922,741
State Bank of India (Financial Services) Equity, Since 31 Aug 15 \| SBIN	4%	₹277 Cr	2,833,344 ↑ 1,522,638
HCL Technologies Ltd (Technology) Equity, Since 31 Oct 21 \| HCLTECH	3%	₹238 Cr	1,462,587
Reliance Industries Ltd (Energy) Equity, Since 31 May 22 \| RELIANCE	3%	₹231 Cr	1,472,922
Eternal Ltd (Consumer Cyclical) Equity, Since 30 Nov 21 \| 543320	3%	₹225 Cr	7,500,000

9. Kotak Tax Saver Fund

The investment objective of the scheme is to generate longterm capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time.

Research Highlights for Kotak Tax Saver Fund

Upper mid AUM (₹6,516 Cr).
Established history (20+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately High.
5Y return: 17.75% (lower mid).
3Y return: 15.48% (bottom quartile).
1Y return: 2.13% (lower mid).
Alpha: -4.43 (lower mid).
Sharpe: -0.19 (lower mid).
Information ratio: -0.15 (bottom quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~99%).
Largest holding HDFC Bank Ltd (~9.3%).

Below is the key information for Kotak Tax Saver Fund

Kotak Tax Saver Fund Growth
Launch Date	23 Nov 05
NAV (22 Dec 25)	₹117.552 ↑ 0.74 (0.64 %)
Net Assets (Cr)	₹6,516 on 30 Nov 25
Category	Equity - ELSS
AMC	Kotak Mahindra Asset Management Co Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	1.76
Sharpe Ratio	-0.19
Information Ratio	-0.15
Alpha Ratio	-4.43
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹13,880
30 Nov 22	₹15,344
30 Nov 23	₹17,621
30 Nov 24	₹22,887
30 Nov 25	₹23,315

Kotak Tax Saver Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹470,047.
Net Profit of ₹170,047 Invest Now

Returns for Kotak Tax Saver Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	-0.3%
3 Month	0.9%
6 Month	2.6%
1 Year	2.1%
3 Year	15.5%
5 Year	17.7%
10 Year
15 Year
Since launch	13.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	21.8%
2023	23.6%
2022	6.9%
2021	33.2%
2020	14.9%
2019	12.7%
2018	-3.8%
2017	33.8%
2016	7.5%
2015	1.5%

Fund Manager information for Kotak Tax Saver Fund

Name	Since	Tenure
Harsha Upadhyaya	25 Aug 15	10.28 Yr.

Data below for Kotak Tax Saver Fund as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Financial Services	30.53%
Consumer Cyclical	11.78%
Industrials	10.36%
Technology	9.85%
Basic Materials	9.69%
Energy	6.81%
Consumer Defensive	6.27%
Health Care	5.22%
Communication Services	4.4%
Utility	3.62%

Asset Allocation

Asset Class	Value
Cash	1.43%
Equity	98.57%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jul 23 \| HDFCBANK	9%	₹605 Cr	6,000,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 09 \| ICICIBANK	5%	₹319 Cr	2,300,000 ↓ -299,780
State Bank of India (Financial Services) Equity, Since 28 Feb 21 \| SBIN	5%	₹308 Cr	3,150,000 ↑ 450,000
Bharti Airtel Ltd (Communication Services) Equity, Since 28 Feb 21 \| BHARTIARTL	4%	₹248 Cr	1,180,000
Infosys Ltd (Technology) Equity, Since 31 Dec 05 \| INFY	4%	₹228 Cr	1,463,880 ↓ -36,120
Axis Bank Ltd (Financial Services) Equity, Since 31 Mar 13 \| AXISBANK	3%	₹218 Cr	1,700,000
Tech Mahindra Ltd (Technology) Equity, Since 31 Aug 23 \| TECHM	3%	₹205 Cr	1,350,000
Hero MotoCorp Ltd (Consumer Cyclical) Equity, Since 31 Jan 24 \| HEROMOTOCO	3%	₹185 Cr	300,000
Eternal Ltd (Consumer Cyclical) Equity, Since 31 Jul 24 \| 543320	3%	₹180 Cr	6,000,000
Hindustan Petroleum Corp Ltd (Energy) Equity, Since 29 Feb 24 \| HINDPETRO	3%	₹172 Cr	3,750,000

10. BOI AXA Tax Advantage Fund

The Scheme seeks to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities across all market capitalisations. The Scheme is in the nature of diversified multi-cap fund. The Scheme is not providing any assured or guaranteed returns.(There can be no assurance that the investment objectives of the Scheme will be realized.)

Research Highlights for BOI AXA Tax Advantage Fund

Lower mid AUM (₹1,411 Cr).
Established history (16+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately High.
5Y return: 17.94% (lower mid).
3Y return: 16.55% (bottom quartile).
1Y return: -5.54% (bottom quartile).
Alpha: -9.63 (bottom quartile).
Sharpe: -0.39 (bottom quartile).
Information ratio: 0.12 (bottom quartile).
Top sector: Financial Services.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Equity-heavy allocation (~93%).
High-quality debt (AAA/AA ~100%).
Largest holding Vedanta Ltd (~5.3%).

Below is the key information for BOI AXA Tax Advantage Fund

BOI AXA Tax Advantage Fund Growth
Launch Date	25 Feb 09
NAV (22 Dec 25)	₹160.28 ↑ 1.10 (0.69 %)
Net Assets (Cr)	₹1,411 on 30 Nov 25
Category	Equity - ELSS
AMC	BOI AXA Investment Mngrs Private Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	2.09
Sharpe Ratio	-0.39
Information Ratio	0.12
Alpha Ratio	-9.63
Min Investment	500
Min SIP Investment	500
Exit Load	NIL

Growth of 10,000 investment over the years.

Date	Value
30 Nov 20	₹10,000
30 Nov 21	₹14,500
30 Nov 22	₹15,171
30 Nov 23	₹18,522
30 Nov 24	₹24,718
30 Nov 25	₹23,701

BOI AXA Tax Advantage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹470,047.
Net Profit of ₹170,047 Invest Now

Returns for BOI AXA Tax Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Dec 25

Duration	Returns
1 Month	-0.2%
3 Month	-0.8%
6 Month	1.1%
1 Year	-5.5%
3 Year	16.6%
5 Year	17.9%
10 Year
15 Year
Since launch	17.9%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	21.6%
2023	34.8%
2022	-1.3%
2021	41.5%
2020	31.2%
2019	14.6%
2018	-16.3%
2017	57.7%
2016	-1.2%
2015	2.1%

Fund Manager information for BOI AXA Tax Advantage Fund

Name	Since	Tenure
Alok Singh	27 Apr 22	3.6 Yr.

Data below for BOI AXA Tax Advantage Fund as on 30 Nov 25

Equity Sector Allocation

Sector	Value
Financial Services	22.35%
Industrials	19.73%
Basic Materials	17.21%
Utility	7%
Consumer Cyclical	6.18%
Consumer Defensive	5.9%
Technology	4.54%
Communication Services	3.5%
Energy	2.5%
Health Care	2.14%
Real Estate	2.07%

Asset Allocation

Asset Class	Value
Cash	6.88%
Equity	93.12%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Vedanta Ltd (Basic Materials) Equity, Since 31 Mar 24 \| VEDL	5%	₹74 Cr	1,412,000
State Bank of India (Financial Services) Equity, Since 31 Oct 21 \| SBIN	5%	₹65 Cr	664,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 18 \| ICICIBANK	4%	₹56 Cr	405,000
Bharti Airtel Ltd (Communication Services) Equity, Since 30 Sep 24 \| BHARTIARTL	3%	₹49 Cr	235,000
Hindustan Aeronautics Ltd Ordinary Shares (Industrials) Equity, Since 31 Jul 23 \| HAL	3%	₹48 Cr	105,000
Acutaas Chemicals Ltd (Basic Materials) Equity, Since 31 May 24 \| 543349	3%	₹46 Cr	250,000 ↓ -33,300
ITC Ltd (Consumer Defensive) Equity, Since 30 Jun 25 \| ITC	3%	₹45 Cr	1,120,000
HDFC Bank Ltd (Financial Services) Equity, Since 31 Dec 10 \| HDFCBANK	3%	₹44 Cr	437,532
Ambuja Cements Ltd (Basic Materials) Equity, Since 31 Mar 25 \| AMBUJACEM	3%	₹38 Cr	685,662
Coromandel International Ltd (Basic Materials) Equity, Since 31 Jan 23 \| COROMANDEL	3%	₹37 Cr	157,000

Disclaimer:
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