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Products Home / Products / Equity / Growth Fund / HDFC TaxSaver (ELSS)
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This product is suitable for investors who are seeking*:
  • growth of capital over long term.
  • investment predominantly in equity and equity related instruments.
  • high risk. (BROWN)

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Note: Risk is represented as:

(BLUE) investors understand that their principal will be at low risk (YELLOW)) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk
Investment Objective
The investment objective of the Scheme is to achieve long term growth of capital.

Basic Scheme Information
Nature of Scheme Open Ended Equity Linked Savings Scheme with a lock-in period of 3 years
Inception Date March 31, 1996

HDFC TaxSaver
HDFC TaxSaver – Direct Plan

Each Plan offers Growth Option and Dividend Option. Dividend Option offers Payout and Reinvestment Facilities.

Direct Plan is for investors who purchase /subscribe Units in a Scheme directly with the Fund and is not available for investors who route their investments through a Distributor.

Entry Load
(For Lumpsum Purchases and investments through SIP/STP)
Unfront commission shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors' assessment of various factors including the service rendered by the ARN Holder.
Exit Load
(as a % of the Applicable NAV)

No Exit Load shall be levied on bonus units and units allotted on dividend reinvestment.

Introduction of Direct Plan - modification in the Exit Load provisions, click here to read.

Minimum Application Amount
For new & existing investors : Rs.500 and in multiples of Rs. 500 thereafter.
Lock-In-Period 3 Years from the date of allotment of the respective Units.
Net Asset Value Periodicity Every Business Day.
Redemption Proceeds Normally dispatched within 3-4 Business days
Tax Benefits
(As per present Laws)
Please click for details
Current Expense Ratio (#)
(Effective Date 01st October 2012)

On the first 100 crores daily net assets 2.50%
On the next 300 crores daily net assets 2.25%
On the next 300 crores daily net assets 2.00%
On the balance of the net assets 1.75%

In addition to the above a charge of 20 bps on the daily net assets plus a proportionate charge in respect sales beyond T-15 cities subject to maximum of 30 bps on daily net assets.


Excluding Service Tax on Investment Management Fees, if any. 

Direct Plan shall have a lower expense ratio by 0.40%.

(#) Any change in the expense ratio will be updated within two working days.

Plan Name NAV Date NAV Amount
Direct Plan - Dividend Option19 Dec 201471.5530
Direct Plan - Growth Option19 Dec 2014399.8930
Dividend Option19 Dec 201470.6570
Growth Option19 Dec 2014395.2720
Investment Pattern
The asset allocation under the respective Plans will be as follows :

Sr.No. Asset Type (% Of Net Assets) Risk Profile
1 Equities & Equity related instruments Minimum 80% Medium to High
2 Debt Securities, Money Market instruments* Maximum 20% Low to Medium

*Investment in Securitised debt, if undertaken, would not exceed 20% of the net assets of the scheme.

The Scheme may also invest upto 25% of net assets of the Scheme in derivatives such as Futures & Options and such other derivative instruments as may be introduced from time to time for the purpose of hedging and portfolio balancing and and other uses as may be permitted under the regulations and guidelines.

The Scheme may also invest a part of its corpus, not exceeding 40% of its net assets, in overseas markets in Global Depository Receipts (GDRs), ADRs, overseas equity, bonds and mutual funds and such other instruments as may be allowed under the Regulations from time to time.

Subject to the Regulations and the applicable guidelines, the Scheme may, engage in Stock Lending activities.

Notwithstanding anything stated above, subject to the Mutual Fund regulations and guidelines governing ELSS schemes, the asset allocation pattern indicated above may change from time to time, keeping in view market conditions, market opportunities, applicable regulations and political and economic factors. It must be clearly understood that the percentages stated above are only indicative and are not absolute and that they can vary substantially depending upon the perception of the AMC, the intention being at all times to seek to protect the interest of the unit holder. Such changes will be for short term and defensive considerations.

Investment Strategy
The funds collected under the Scheme shall be invested in equities, cumulative convertible preference shares and fully convertible debentures and bonds of companies. Investment may be made in partly convertible debentures and bonds including those issued on a rights basis subject to the condition that, as far as possible, the non convertible portion of the debenture so acquired or subscribed shall be disinvested within a period of 12 months.

It shall be ensured that funds of the Scheme shall remain invested to the extent of atleast 80% in securities specified above. In exceptional circumstances, this requirement may be dispensed with by the AMC, in order that the interest of the Unit holders are protected.

Pending investment of funds of the Scheme in the required manner, the AMC may invest the funds of the Scheme in short term money market instruments or other liquid instruments or both. After 3 years from the date of allotment of the Units, the Mutual Fund may hold upto 20% of net assets of the Scheme in short-term money market instruments.

If the investment in equities and related instruments falls below 80% of the portfolio of the Scheme at any point in time, it would be endeavoured to review and rebalance the composition.
The Scheme will retain the flexibility to invest in the entire range of debt instruments and money market instruments. Investment in Debt securities (including securitised debt) and Money Market Instruments will be as per the limits in the asset allocation table of the Scheme, subject to permissible limits laid under SEBI (MF) Regulations. Please refer to ‘Debt securities’ and ‘Money Market Instruments’ under the section ‘WHERE WILL THE SCHEME(S) INVEST’ in the SID.
The ELSS (Equity Linked Savings Scheme) guidelines, as applicable, would be adhered to in the management of this Scheme.

Consistent with the investment objective of the scheme, the AMC aims to identify securities which offer superior levels of yield at low levels of risk. The investment team of the AMC will carry out an internal credit analysis of all securities included in the investment universe. The Scheme may also use various derivative and hedging products from time to time, as would be available and permitted by SEBI, in an attempt to protect the value of the portfolio and enhance Unit holders’ interest. The Investment Manager may therefore enter into forward contracts, future contracts or buy or sell options in an effort to maintain risks at acceptable levels. The Scheme may also invest in suitable investment avenues in overseas financial markets for the purpose of diversification, commensurate with the Scheme objectives and subject to necessary stipulations by SEBI / RBI. Towards this, the Mutual Fund may also appoint overseas investment advisors and other service providers, as and when permissible under the regulations.
Systematic Investment Plan (SIP) Details

Serial No. Scheme Name Minimum Application Amount(Rs.) Under each plan / option Entry Load Exit Load
1 HDFC TaxSaver Fund - Dividend / Growth* Rs.500 for Monthly & Rs.1500 for Quarterly and in multiple of Rs. 500 there after. NIL NIL

* SIP avaliable in Existing and Direct Plan

Fund Manager
Mr. Vinay Kulkarni (since Nov 21,2006)
Mr. Rakesh Vyas - Dedicated Fund Manager - Overseas Investments.(since May 10, 2012)
Portfolios - Holdings
Please click here to view complete Scheme Portfolios
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