Baroda ELSS 96 Plan A Growth Option

About Baroda Pioneer ELSS’96

Baroda ELSS’96 is an open ended equity linked saving scheme with a statutory lock-in of 3 years. The investment objective of the scheme is to provide the investor with long term capital growth along with the income tax benefits. The Scheme has two plans – Plan A and Plan B (Direct). The units are rolled out under 2 options – Growth Option or dividend payout option

Pros & Cons of Baroda Pioneer ELSS’96

Baroda ELSS’96 offers following benefits:

1. Tax deduction of Rs 1.5 lakh under Section 80C of the Income Tax Act of the principal amount
2. It has about 94% allocation in stocks of large-cap companies and close to 6% allocation in stocks of medium sized companies. Large cap companies tend to be stable compared to mid-cap companies.
3. The Fund’s performance has been below the category average in most periods.

Fund Information and Statistics of Baroda Pioneer ELSS’96

i) Inception / Launch date

The Fund was launched in 31 March 1996 as a closed scheme and went open ended on March 2000. The Fund was launched by Baroda fund house. The scheme is benchmarked against S&P BSE 200 Index and tracked.

ii) Risk level

The Fund’s Riskometer is determined as “Moderately High” and thus the investment in Fund is suitable for capital growth over long term.

iii) Redemption

Redemptions are permitted post lock-in period of 3 years. Unit holders can request for redemption by specifying either an amount or number of units to be redeemed.

iv) Fund Manager

The Fund is managed by Mr. Dipak Acharya and Mr. Sanjay Chawla. Mr. Acharya is M. Com., AICWA, CAIIB & PGPMS and joined Baroda AMC in 2008. Mr. Chawla holds a Master’s degree in Management Studies from BITS, Pilani.

v) Entry / Exit load

Exit load of the Fund is Nil post lock in period withdrawal. No entry load is charged by the Fund.

About Baroda Mutual Fund

On 28 September 2018, Baroda Mutual Fund became fully owned subsidiary of Bank of Baroda. With the help of a rigorous investment framework, the fund house offers cutting-edge solutions to its investors. With constant support from quantitative and fundamental analysts, it attempts to actively manage the portfolio for earning higher risk-adjusted returns .