SBI ELSS Tax Saver Fund

All Cap

Equity

India Tax Saver

Others

Tax Saver

Aggressive growth Investor Profile

Investor Profile

1–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Sbi Long Term Equity Fund Growth invests mainly in stocks for long-term wealth growth.

What This Strategy Does

SBI ELSS Tax Saver Fund Regular Growth is an equity fund which captures India's ₹30 trillion consumption and financialization opportunity through a growth-at-a-reasonable-price approach, deploying capital across financials, industrials, and healthcare to achieve broad-based earnings growth.

CW Expert Research Notes

Consistent Earnings Compounding

The fund has delivered competitive outcomes historically, driven by its growth-at-a-reasonable-price approach that aims to generate steady, earnings-led compounding through disciplined stock selection.

Differentiated Portfolio Construction

The strategy follows a bottom-up, research-driven approach, constructing a well-diversified portfolio across sectors and market capitalizations based on stock-specific opportunities, with a tilt toward growth and quality.

Macro Tailwinds Supportive

The fund is well-positioned to capitalize on potential catalysts such as favorable policy reforms, an uptick in the capex cycle, and positive earnings revisions, which could further bolster its growth-oriented investment style.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Fund Performance

-1.3% AnnuallyAlpha

+12.9% vs +9.9% benchmarkSince Inception

+13.1% vs +6.0% benchmark3Y Annualized

+14.3% vs +6.3% benchmark5Y Annualized

SBI ELSS Tax Saver Fund

Benchmark Index

Benchmark Performance Comparison

Sbi Long Term Equity Fund

NIFTY 50

Risk Profile

Standard Deviation14.9%

Maximum Drawdown-15.4% | Oct 2024

Sharpe Ratio-0.59

Beta0.98

Upside Capture114%

Detailed Risks

Market Risk

Potential recession in India driven by high inflation could dampen consumer demand, impacting fund's mid-cap tilt.

Liquidity Risk

Fund's mid-cap bias exposes it to liquidity stress during market sell-offs, hindering rebalancing or exits.

Concentration Risk

Fund's 214% mid-cap overweight versus category amplifies risks from earnings misses or competitive pressures in concentrated holdings.

Specific Strategy Risk

Tax policy changes impacting ELSS eligibility or lock-in periods could disrupt fund's investment strategy and flows.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Provides tax-efficient wealth creation by investing in India's most promising businesses across market cycles. This approach combines the growth potential of small and mid-caps with the stability of established large-cap leaders. The impact is a diversified portfolio that captures India's entrepreneurial dynamism while managing volatility through exposure to resilient franchises.

Broader Market View

Market Outlook

Equity markets appear to be entering a mid-cycle phase, with an attractive entry point emerging after the recent correction. Macro drivers such as consumption recovery, earnings normalization, and capex revival in sectors like consumer, financials, and industrials present opportunities. However, risks like competition, margin pressures, and cyclicality warrant a balanced approach.

Why This Strategy is Attractive Now

This strategy appears well-positioned for the current environment, with exposure to consumer cyclicals, financials, and technology. The portfolio's diversification across market leaders and approximately 70 holdings, coupled with a moderate beta and risk-adjusted positioning, could offer a balanced combination of growth and stability as the cycle progresses.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth approach focused on companies with pricing power and resilient business models appears well-positioned.

High-Level Investment Process

Sourcing: The strategy appears to source investment ideas from a broad universe of quality companies across market capitalizations and sectors, with a focus on those demonstrating sustainable competitive advantages and growth potential. Selection: The selection process suggests an emphasis on companies with strong fundamentals, including consistent profitability, healthy balance sheets, and capable management teams, combined with attractive valuations relative to growth prospects. Construction: Portfolio construction is consistent with a diversified, conviction-weighted approach, with a preference for holding a focused set of high-conviction names while managing overall risk exposures.

Portfolio Holdings Overview

SectoralAllocation

Services10.38%

Energy & Infra9.22%

Financial Services37.9%

Capital Goods20.18%

Utilities4.36%

Consumers11.35%

Technology6.6%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

ICICI Bank LtdFinancial Services9.34%

Reliance Industries LtdEnergy & Infra5.33%

Kotak Mahindra Bank LtdFinancial Services4.94%

HDFC Bank LtdFinancial Services4.14%

Tata Steel LtdCapital Goods4.14%

Axis Bank LtdFinancial Services4.07%

State Bank of IndiaFinancial Services3.84%

TrepsUtilities3.02%

Torrent Power LtdUtilities2.58%

Infosys LtdTechnology2.23%

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Milind Agrawal

Mr. Milind Agrawal has experience of 12 years. Manages 26 funds at SBI Funds Management Ltd with an AUM of approximately ₹32,609 Cr Holds a PGDM degree.

12 years

Combined Team Experience

₹ 32,609 Cr

Assets Under Management

CW Expert Take

SBI's fund management approach reflects their banking heritage, conservative risk frameworks with long-term conviction. They leverage extensive on-ground presence for grassroots research, particularly valuable in equity investing. Their fixed income team benefits from deep government securities market access and understanding of monetary policy transmission.

Firm Overview

Total AUM₹12,41,484.56 Cr

Investment Philosophy & Approach

Research-Driven Approach

Employs a bottom-up, research-driven investment approach focused on governance and fundamentals.

Growth at Reasonable Valuation

Seeks companies with long growth runways available at reasonable valuations.

Disciplined Portfolio Construction

Constructs well-diversified portfolios guided by sector deviation limits and oversight.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Total Expense Ratio (TER)1.6%

Regulatory & Tax Information

INF200K01495

ISIN

DailyDealing Frequency

BSE 500 India TR INRBenchmark

LTCG | >1Year 12.5%% on gain above 1.25 Lakh

STCG | <1Year 20%%

Tax Implications (India)