Review of Canara Robeco Equity Tax Saver mutual Fund
Rating : 2 star
Fund size : 7332.91 cr
Expense ratio : 1.72% , seems a bit higher
Trailing Returns
Based on the past returns we see that it has been giving good returns
Rolling Returns
Rolling returns show that for around 77% of times the fund has given returns more than 12 % and around 50% of times returns more than 15 % for a rolling period of 5 years. Which is a normal result. It is to be observed that the fund has never given negative returns in 5 years period. The average returns is also decent for the fund at 14%
Benchmark return :
The fund is benchmarked against S&P BSE 500 TRI. The fund started with weak performance but had recovered since then. And has been above the benchmark for all these years.
Vs Other ELSS fund :
When we see the performance compared with other funds we see that the fund is not performing as compared
Ratios
The fund has std. deviation of 12.46 which shows the returns are stable, the beta is high of 0.91 but the fund has not been able to deliver any alpha, which is negative. The Sortino ratio which shows how much the downside the fund can protect is not good.
Fund manager :
The fund had a lot of changes in fund manager till 2020 , which may have caused a lot of trouble for the fund. The new fund manager seems to be loaded with a lot of funds to manage . Only Vishal Mishra even though new is trying to manage the fund. But his fund performance is still below the benchmarks.
Fund strategy and fund style :
Fund is growth oriented fund with fair orientation to large caps , limited allocation to id cap and very small allocation to small. So it may be one reason that it has underperformed the other ELSS funds in the market. This is the reason for the fund to be much more stable. The sector allocation of the fund is aligned with the benchmark to financial , technology and Automobiles.
Conclusion
The fund has some stable results and can be part of portfolio if you do not want to take much risk in your portfolio. But still better ELSS fund are available in the market.
