About Aditya Birla Sun Life Tax Relief 96 Direct - Dividend Payout
Aditya Birla Sun Life Tax Relief 96 Direct - Dividend Payout is a Tax Saver
mutual fund scheme from Aditya Birla Sun Life Mutual Fund
. This scheme was launched on 01 Jan 2013 and is currently managed by its fund manager Ajay Garg
. It has an AUM of ₹10,101.26 Crores and the latest NAV decalared is ₹220.420 as on 05 Aug 2020 at 1:26 am.
Aditya Birla Sun Life Tax Relief 96 Direct - Dividend Payout scheme return performance in last 1 year is 4.79%, in last 3 years is 8.63% and 165.31% since scheme launch. The min. SIP amount to invest in this scheme is ₹500.
The scheme seeks long-term capital growth and will invest approximately 80 per cent of its assets in equity, while the balance would be a invested in debt and money market instrument. It was converted to an open-ended scheme with effect from July 1999. A combination of top down & bottom up approach will be followed in the stock selection process.
About Fund Category
Having a statutory lock-in period of 3 years, ELSS Funds enable long term wealth accumulation along with the benefit of tax saving. Investing in ELSS Funds makes you eligible to claim a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act 1961.