Bajaj Finserv Launches ELSS Tax Saver Fund for Tax Savings and Long-Term Wealth Creation
Bajaj Finserv Mutual Fund has launched the Bajaj Finserv ELSS Tax Saver Fund, an open-ended, equity-linked saving scheme that offers investors the opportunity to save tax under Section 80C of the Income Tax Act, 1961, while also creating long-term wealth through disciplined equity investments.
It shall offer an NFO with the scheme opening on December 24 and closing on January 22, 2025.
Benefits of Both Tax Saving and Wealth Building
The primary aim of the Bajaj Finserv ELSS Tax Saver Fund is to help investors reach both tax savings and wealth generation by utilizing the potential of equities. The scheme enjoys a statutory lock-in period of three years, making it one of the shortest lock-in periods among tax-saving options in comparison to other traditional instruments like PPF or tax-saving fixed deposits.
Key Features and Accessibility
The scheme has been designed in a way that is quite flexible with a minimum investment amount of Rs.500, so it makes it more suitable for a first-time investor and for salaried individuals who would want to initiate their investment journey. Investors can avail of both Growth or IDCW options under the Regular and Direct Plans.
Long-term Growth Focus
The Bajaj Finserv ELSS Tax Saver Fund has been structured on a long-term approach to stock selection. The fund is managed bottom-up, focusing on companies with good fundamentals and growth potential. It is led by the INQUBE investment philosophy, which brings together superior information collection, behavioural insights, and quantitative analysis for the creation of a robust and balanced portfolio.
This thoughtful, long-term approach ensures that investors would be able to achieve financial goals while enjoying tax advantages under Section 80C.
Diversified Portfolio
The diversified approach in the fund will be maintained by investing in large-cap, mid-cap, and small-cap companies. BSE 500 Total Return Index would be the benchmark index of this fund. Long-term capital gains through equity investments and equity-related instruments that will also bring tax benefits under Section 80C can be made.
With the Bajaj Finserv ELSS Tax Saver Fund, a diversified portfolio with a long-term growth focus can help investors enjoy tax savings as well. The low minimum investment requirement and flexibility in plan options make it an excellent choice for a wide range of investors, from first-timers to those looking for long-term wealth accumulation. It tries to empower individuals who are aspiring to achieve financial goals at the same time while realizing the tax benefits available to them under the Income Tax Act.
