February 1, 2024
mayank
Bank of India (BOI) ELSS Tax Saver Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Chanakyamfguidance.com
NAV Growth: Rs 162.4500
NAV IDCW: Rs 64.8800
Suitable For Which Investors?
When you invest for five years or more, you can expect gains that comfortably beat the inflation rate as well as returns from fixed income options. In addition, there is a tax benefit. Under Section 80C of the Indian income tax laws, investments of up to Rs 1.5 lakh in a financial year in eligible securities such as this fund are exempt from tax.
But be prepared for ups and downs in your investment value along the way. Also note that you cannot withdraw your money from this fund before completing three years from the date of investment.
Like for all equity funds, you must invest only through the SIP route. Click here to read a primer on SIP investing.
Fund’s Investment Strategy:
The scheme seeks to build a diversified portfolio of stocks of companies having sustainable business models, without any bias of market capitalisation and sector. The scheme will follow top-down approach of equity selection.
Fund Manager:
1) Alok Singh
Education: Mr. Singh is a CFA and PGDBA from ICFAI Business School.
Experience: Prior to joining BOI AXA AMC he has worked with BNP Paribas Asset Management and Axis Bank.
Investment Details
| Min. Investment (Rs) | 500 |
| Min. Addl Investment (Rs) | 500 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | 3 Years |
| Exit Load | 0 |
Basic Details
| Fund House | Bank of India Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 19.05% |
| Benchmark | S&P BSE 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | Rs 1,040 Cr |
| (As on 31-Dec-2023) | |
| Expense | 1.23% |
| (As on 31-Dec-2023) | |
| Risk Grade | Above Average |
| Return Grade | High |
| Turnover | 75.00% |
Trailing Returns (%) of Bank of India ELSS Tax Saver Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Bank of India ELSS Tax Saver Fund Dir | 3.45 | 0.91 | 3.45 | 23.25 | 23.97 | 46.00 | 27.35 | 26.35 | 21.55 | 20.50 |
| S&P BSE 500 TRI | 1.92 | 1.15 | 1.92 | 17.88 | 16.20 | 33.42 | 21.83 | 18.48 | 16.62 | 16.84 |
| Equity: ELSS | 2.11 | 1.14 | 2.11 | 17.45 | 17.20 | 35.46 | 22.59 | 19.08 | 16.63 | 18.16 |
| Rank within category | 8 | 34 | 8 | 5 | 6 | 5 | 5 | 2 | 2 | 2 |
| Number of funds in category | 39 | 39 | 39 | 38 | 38 | 36 | 33 | 30 | 29 | 25 |
Peer Comparison of Bank of India ELSS Tax Saver Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Bank of India ELSS Tax Saver Fund Dir | 5 star | 46.00 | 27.35 | 26.35 | 1.23 | 1,040 | 19.05 | — | 11Y 1M | 75.00 |
| Mirae Asset ELSS Tax Saver Dir | 4 star | 33.07 | 22.08 | 21.21 | 0.60 | 20,431 | 20.44 | — | 8Y 1M | 95.00 |
| SBI LT Eqt Dir | 5 star | 51.27 | 28.14 | 21.59 | 0.98 | 18,715 | 16.73 | — | 11Y 1M | 16.00 |
| DSP ELSS Tax Saver Dir | 4 star | 36.02 | 24.40 | 21.39 | 0.68 | 13,583 | 18.11 | — | 11Y 1M | 34.00 |
| HDFC ELSS Tax Saver Dir | 4 star | 39.53 | 27.81 | 18.44 | 1.14 | 13,086 | 15.32 | — | 11Y 1M | 21.93 |
Portfolio Analysis of Bank of India ELSS Tax Saver Fund
| No. of Stocks | 66 |
| Top 10 Stocks | 37.83% |
| Top 5 Stocks | 22.45% |
| Top 3 Sectors | 56.18% |
| Portfolio P/B Ratio | 2.45 |
| Portfolio P/E Ratio | 15.77 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 1,19,274 | 1,58,049 |
| Giant (%) | 42.29 | 51.36 |
| Large (%) | 31.29 | 19.82 |
| Mid (%) | 16.59 | 23.89 |
| Small (%) | 9.83 | 6.97 |
| Tiny (%) | — | 0.27 |
How to Invest in Bank of India (BOI) ELSS Tax Saver Fund?
Chanakya’s Mutual Fund Guidance For Bank of India ELSS Tax Saver Fund
Do not invest in this, or any other ELSS, if you need to redeem your investment in less than five years.
Apply Online: https://online.boimf.in/
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