Union Long Term Equity Fund Growth
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- Save up to Rs 46,800 in taxes every year.
- Highest returns compared to other 80C investments.
- Lowest lock-in of 3 years
|Tax Saving FD||PPF||ELSS|
|Average Annualised Returns i||6%||8%||12%|
|Tax rates i||30%||Not taxable||10%*|
|Returns after tax i||4.2%||8.00%||10.80%|
|Current rate of Inflation i||4%||4%||4%|
|Real Rate of Return i||0.2%||4.00%||6.80%|
|Lock-in Period i||5 years||15 years||3 years|
- Fund Summary
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- Related funds
- Why Cleartax
|Risk||Moderately High risk|
|Fund Type||ELSS (Tax Savings)|
More about this fund
|HDFC Bank Ltd||8.75%|
|ICICI Bank Ltd||5.42%|
|Housing Development Finance Corp Ltd||4.9%|
|Reliance Industries Ltd Shs Dematerialised||4.12%|
|Axis Bank Ltd||3.33%|
|Bharti Airtel Ltd||3.19%|
|Larsen & Toubro Ltd Shs Dematerialised||2.26%|
|Tata Consultancy Services Ltd||2.23%|
|Bajaj Finance Ltd||2.22%|
About Union Tax Saver Fund
Union Tax Saver Fund is an open ended equity linked scheme (ELSS) mutual fund from the house of Union Mutual Fund AMC. This ELSS scheme also has a lock in period of 3 years with Tax exemption benefits of 80C. The fund’s investment objective is to save tax while growing your hard earned money through Equity Investments. The scheme also offers tax benefits under Section 80C of the Income Tax Act.
Pros & Cons of Union Tax Saver Fund
Union Tax Saver Fund offers 3 benefits:
- Save upto ?46,800 in taxes under section 80C of Income Tax Act, 1961 (by investing in ELSS funds)
- Shortest lock-in period allows the fund manager to take better decision and look through the interim volatility.
- Being a star-rated fund, it was able to contain losses during 3 month to 1 year period. However, it has been unable to earn returns more than its category and the benchmark in 3 year and 5 year period.
Fund Information and Statistics of Union Tax Saver Fund
i) Inception / Launch date
Union Tax Saver Fund was launched on 23 December 2011 by Union Mutual Fund.
ii) Risk level
Being a multi-cap fund, Union Tax Saver Fund is a moderately high risk bet and suitable for investors who have a long-term investment horizon of more than 5 years.
Redemption of Units can be made only after the expiry of the lock-in period of three years from the date of allotment of units which the holder has proposed to redeem. It will be done by a repurchase/buyback by the fund house. Under normal circumstances, your fund house will dispatch the redemption proceeds within 10 business days from date of receipt of request.
iv) Fund Manager
Mr. Anshul Mishra, who is a CFA charterholder and holds rich experience in fund management, has been managing the Union Tax Saver Fund since June 2018.
v) Entry / Exit load
The fund house does not charge any entry load and exit load for investing in Union Tax Saver Fund.
Tax benefits of investing in Union Tax Saver Fund
Union Tax Saver Fund has a lock-in period of three years which is the lowest amongst all other tax saving alternatives available in India. It helps you to claim a tax deduction of up to Rs. 1.5 lakhs under Section 80C from your Gross Total Income and enables saving taxes up to Rs. 46,800.
About Union Mutual Fund
Union Mutual Funds are managed by Union KBC Asset Management Company Ltd. (UTI AMC). The fund provides approved investment avenues and other structured products to meet the financial needs of its clients. It uses the extensive network, brand value and knowledge of investors to achieve its objectives.
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All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,
- High Risk = High possible returns
- Low Risk = Stable, relatively lower returns