Today's Fund Pick: HDFC Long Term Advantage Fund

SI Reporter / Mumbai 28 Dec 11 | 09:27 AM

The fund has outperformed both the Sensex and the category-average for longer periods of up to 10 years.

HDFC Long Term Advantage Fund, earlier known as HDFC Tax Plan 2000, was launched in January 2001. The fund had average assets under management (AUM) worth Rs 884 crore, at the end of the September quarter.

Investment in this fund, categorised as an equity-linked savings scheme (ELSS), is eligible for deduction (up to Rs 1 lakh) under Section 80C of the Income Tax Act. ELSS comes with a lock-in period of three years and serves a dual purpose.

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