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Bajaj Finserv AMC has announced the launch of Bajaj Finserv ELSS Tax Saver Fund, an open-ended equity linked saving scheme with a statutory lock-in period of 3 years and tax benefits. The fund opens for subscription on December 24, 2024, and the New Fund Offer period ends on January 22, 2025.

Bajaj Finserv ELSS Tax Saver Fund aims at fulfilling the dual benefits of tax saving and wealth accumulation over long term by investing in equities. The scheme is suitable for investors who seek the potential for wealth creation over the long term and want to invest predominantly in equity and equity related instruments with tax benefit under Section 80C of the Income Tax Act, 1961. The scheme is benchmarked against BSE 500 Total Return Index (TRI).

ELSS has a lock-in period of 3 years, the lowest among all tax-saving avenues under Section 80C. In comparison, options like PPF, NSC, or Tax-Saving Bank FDs have lock ins of 5 – 15 years. This dual benefit of saving tax and wealth growing potential over the long term makes this scheme suitable for long-term investors aiming for wealth creation through equities. Additionally, the option to invest in affordable and disciplined instalments through Systematic Investment Plans can make ELSS a compelling choice for salaried individuals as well as first-time investors.

Ganesh Mohan, Chief Executive Officer, Bajaj Finserv AMC said, “We are committed to empowering individuals with smart financial solutions that align with their long-term goals. While equity markets may be volatile in the short term, they have the potential to generate wealth over the long term. ELSS, with its triple advantage of tax-saving (under Section 80C of the Income Tax Act), wealth creation through equities, and the lowest lock-in period compared to other tax-saving instruments, can help investors attain their financial goals.”

Nimesh Chandan, Chief Investment Officer, Bajaj Finserv AMC, said, “The fund follows a long-term oriented stock selection process, which includes identifying and investing in quality businesses through comprehensive fundamental analysis. It focuses on selecting companies with robust, growth-oriented business model, good management and available at reasonable valuation. It is built on our inhouse INQUBE investment philosophy, which makes use of superior information collection, behavioural insights, and quantitative analysis to create a robust and well-balanced portfolio.”

 The Bajaj Finserv ELSS Tax Saver Fund is available in both Growth and IDCW options under the Regular and Direct Plans. Investments in the scheme can be made either as a lump sum or through SIPs, with a minimum contribution of Rs.500. The fund will be managed by Mr. Nimesh Chandan and Mr. Sorbh Gupta for the equity portion and Mr. Siddharth Chaudhary for the debt portion.

Bajaj Finserv ELSS Tax Saver Fund

An open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit

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