WhiteOak Tax Saver Mutual Fund
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Investment Objective of WhiteOak ELSS Mutual Fund
The WhiteOak ELSS Mutual Fund scheme is an open-ended scheme. A young scheme, the fund was launched on 14 October 2022. It aims to offer long-term capital gains via equity-based investments to its investors. However, what differentiates it from regular equity funds is that it also allows its investors to claim income tax benefits. Hence, the scheme is referred to as an Equity Linked Savings Scheme (ELSS).
The fund is managed by experts with decades of investment experience. The scheme follows a bottoms-up stock selection process. Managers invest in a variety of different sectors to form a balanced portfolio. More funds are directed towards mid-cap and small-cap companies due to safer and better investment opportunities.
Risks Involved in WhiteOak ELSS Mutual Fund
The WhiteOak ELSS Mutual fund risk is rated very high. This implies that during favourable market trends, the investment will yield high returns. While during unfavourable market trends, the investment can incur equally high losses.
The fund managers ensure portfolio diversification by investing in different sectors and companies. This ensures risk mitigation as the returns are not dependent on a select few companies only. Moreover, the fund’s 3-year lock-in period holds the investors’ money for longer durations so as to minimise potential risks.
Return Potential of WhiteOak ELSS Mutual Fund
WhiteOak ELSS Mutual Fund return is achieved in the forms of capital gains and dividend incomes. The returns over the fund depend upon the performance of the stocks it has invested in. Since its inception, the fund has garnered a return of 22.35%* on investment, which translates to ₹11,941 in absolute terms. The scheme has invested the maximum in the Financial sector (26.44%). ICICI Bank (8.02%), Nestle India (3.94%) and Reliance Industries Ltd. (3.27%) are its top 3 holdings.
WhiteOak ELSS Mutual Fund returns can be increased if an investor stays committed for longer durations. The fund has a high lock-in period of 3 years. This means that investors cannot redeem their funds before a 3-year span. Hence, only such amounts that are not immediately needed by the customers should be directed towards the fund.
* The reported returns stand as at 31st August 2023.
Who Should Invest in WhiteOak ELSS Mutual Fund?
Investment decisions should be made after due financial consultations. The WhiteOak ELSS mutual fund scheme is suitable for:
- High-risk-bearing investors who are willing to invest their amount for 3 years or more.
- Investors looking for a diversified equity-based portfolio.
- Individuals looking for long-term capital earnings.
- Individuals willing to earn tax benefits on their investments.
Things to Consider Before Investing in the Scheme
Provided below are the highlights of the scheme. Investors should make their decisions after duly considering these parameters.
- Fund House: WhiteOak Capital Mutual Fund
- Category: ELSS
- Type: Open Ended
- WhiteOak ELSS Mutual Fund NAV: ₹12.17
- Fund Size: ₹86.53 crores*
- Expense Ratio: 0.64%
- Exit Load: NIL
- Fund Age: 11 months
- Fund Manager: Ramesh Mantri
- Riskometer: Very High
- Investment Horizon: 3 years or more
- Benchmark Index: S&P BSE 500 Total Return Index
- Investment Modes: SIP or Lumpsum
- Equity Investments: 80%-100%
- Debt Investments: 0%-20%
- Minimum Investment: ₹500 and in multiples of ₹1 after that
- Minimum SIP Investment: ₹500 and in multiples of ₹1 after that
- Minimum Additional Investment: ₹500 and in multiples of ₹1 after that
- Minimum Redemption: ₹500 or the remaining account balance, whichever is lower
Tax on WhiteOak ELSS Mutual Fund
WhiteOak ELSS mutual fund scheme is subject to a 10% Long Term Capital Gain (LTCG) tax over gains exceeding ₹1 lakh in a financial year. Since the fund comes with a lock-in period of 3 years, no Short Term Capital Gains (STCG) tax is applicable.
The dividend earnings from the fund get added to an investor's income and are taxed as per the respective slab. Further, dividend incomes exceeding ₹5,000 in a financial year are subject to a 10% TDS deduction by the mutual fund house.
The scheme also offers tax benefits to its customers under Section 80C of the Income Tax Act 1961.
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