PGIM India ELSS Tax Saver Fund Regular Growth INF663L01FQ8

PGIM India ELSS Tax Saver earns an Average Process Pillar rating.

The leading factor in the rating is the parent firm's five-year risk-adjusted success ratio of 54%. The measure indicates the percentage of a firm's funds that have outperformed their respective category's median return for the period. The stability of talent across its parent firm also influences the rating. The firm's asset-weighted manager tenure of 15 years demonstrates its ability to retain portfolio managers. However, the process is limited by its parent firm's inferior risk-adjusted performance, as shown by the firm's average 10-year Morningstar Rating of 2.8 stars. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis.

This strategy is similar to its ELSS (Tax Savings) category peers in terms of market-cap and style exposure. Looking at additional factor exposure, this strategy has held more highly liquid stocks compared to Morningstar Category Peers in the past few years. Such stocks may have less potential upside than illiquid holdings, but they are easier to trade during market downturns. Different from its historical appetite, however, the Liquidity factor was in line with the Morningstar Category average in recent months. The strategy also had less exposure to high-yield stocks compared with Morningstar Category peers in recent months. This is demonstrated by the portfolio's low exposure to dividends or buybacks. While companies with high yields provide steady income payments, they may cut payouts if their earnings fall. Additionally, the strategy had more exposure to high-quality stocks compared with Morningstar Category peers in recent months. High exposure to the quality factor means holding companies that are consistently profitable, growing, and have solid balance sheets. More information on a fund and its respective category's factor exposure can be found in the Factor Profile module within the Portfolio section.

The portfolio is overweight in healthcare and technology relative to the category average by 2.7 and 2.7 percentage points, respectively. The sectors with low exposure compared with category peers are utilities and financial services, underweight the average by 4.5 and 2.5 percentage points of assets, respectively. The portfolio is composed of 63 holdings and is relatively top-heavy. Of the strategy's assets, 42.3% are concentrated within the top 10 holdings, compared to the typical peer's 39.5%.