Warren Buffet quotes, “If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes”, i.e. long term should be the view for maximum profits. Same goes with investments in mutual funds. A fund which has grown in short time span to become the largest in the ELSS category, Axis Long Term Equity Fund has a strategy of buying quality stocks with a long term growth perspective. It diversifies the holding in various large cap and mid cap companies. The fund has proved its capabilities in the past by giving good amount of returns with its expertise and smart holdings even in bear market.
Overall it’s a solid fund if you like to own quality business in a listed space.
Axis Long Term Equity Fund – Growth Daily Chart
Axis Long Term Equity Fund –Growth is an open ended Equity Linked Saving Scheme [ELSS] which has a lock in period for 3 years. This scheme is ranked 2 in ELSS category by CRISIL.
Taxation: This fund aims for “SHARE LESS SAVE MORE”. This fund helps the investors to get tax rebates under section 80 C of Income Tax Act.
Portfolio Analysis: The major holdings of this fund are into Banking and Automotive sectors. Below is the table shown of Top Holding & Sectorial allocation of this fund:
Risk: Thisfund has concentrated exposure to sectors especially Banking/Finance and so the risk is diversified. It is better to eye for long term investment in this fund. Fresh investments should be done in form of SIP only with time horizon of three years or more.
Technical Perspective: As shown in the above daily chart, post the completion of wave 2 near 30 levels prices exhibited a sharp move on upside and currently intermediate wave 3 is ongoing. On downside as long as the blue channel is intact trend will be positive. Move towards 50 can be expected with support now shifted towards 39 levels.
Investment rationale:Axis Long Term Equity ELSS scheme can move higher over medium term. One should continue to do investments through SIP to generate the greater wealth along with tax saving.
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