ITI ELSS Tax Saver Fund Regular Payout Inc Dist cum Cap Wdrl INF00XX01382

ITI ELSS Tax Saver Fund earns a Below Average Process Pillar rating.

The process benefits from the size of its portfolio management team. With three portfolio managers at the helm, the fund is reasonably well-resourced. However, the rating is held back by the parent firm's five-year risk-adjusted success ratio of 0%. The measure indicates the percentage of a firm's funds that have outperformed their respective category's median return for the period. The parent's relatively low success ratio suggests that the firm could do better across its fund lineup. The parent firm's five-year retention rate of 50% also weakens the process.

This strategy targets smaller plays than its peers’ average in the ELSS (Tax Savings) Morningstar Category. But in terms of investment style, it is on par with peers. Analyzing additional factors, this strategy has consistently favored high-quality stocks, including those with low financial leverage and solid returns on equity, compared with Morningstar Category peers during recent years. Such holdings could cause it to trail peers during economic booms, but help it better endure busts. In recent months, the strategy was more exposed to the Quality factor compared with its Morningstar Category peers as well. This strategy has also exhibited a tilt toward high-volatility stocks over these years, meaning it has invested in companies that have a higher historical standard deviation of returns. This contributes to a higher-risk, higher-reward approach. Compared with category peers, the strategy also had more exposure to the Volatility factor in the most recent month. Given the high trading volume of holdings, this fund also tilts toward liquid assets. This gives the managers more flexibility during bear markets to sell without adversely affecting prices. In this month, the strategy also had more exposure to the Liquidity factor over its peers. 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 industrials and real estate relative to the category average by 10.5 and 3.5 percentage points, respectively. The sectors with low exposure compared with category peers are healthcare and energy, underweight the average by 6.2 and 4.1 percentage points of assets, respectively. The strategy owns 74 securities and is diversified among those holdings. In its most recent portfolio, 33.9% of the fund’s assets were concentrated in the top 10 fund holdings, as opposed to the category average's 39.6%. And in closing, in terms of portfolio turnover, looking at year-over-year movements, 169% of the fund's holdings have turned over, whether through increasing, decreasing, or changing a position.