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These 5 ELSS Funds Have Given More Than 29% Returns In 3-Year
People are now investing in mutual funds because they often provide greater returns than other fixed investment choices. Having said that, in addition to helping their assets increase in the long term, mutual fund investments also assist them to reduce their tax obligation. One tax saver scheme is ELSS. Equity Linked Saving Scheme (ELSS) as the name suggests, the scheme's savings are invested in equities markets and delivers high returns, but also highly risky funds with tax benefits.
Why one should invest in Equity Linked Saving Scheme?
ELSS is a diversified equities mutual fund that is commonly used by investors to avoid taxes. The ELSS scheme requires that at least 65% of the fund's assets be invested in the stock market. The funds invested are diverse and spread over several sectors, market capitalizations, topics, and industries. ELSS funds are a good investment destination for investors with a high-risk appetite since these mutual funds give tax benefits under Section 80C of the Income Tax Act. Equity-linked savings plans have a 3-year lock-in term. If your returns from the investment are low after the lock-in period owing to market underperformance, you can continue to participate in the fund without quitting.
Annualized Returns (Lump Sum Investment)
On Investment of Rs 10,000
| ELSS Mutual Fund | 3-Year | 5-Year |
|---|---|---|
| Quant Tax Plan - Direct Growth Plan-Growth | 40.33% | 25.15% |
| SBI Tax Advantage Fund Series III Direct Growth | 39.34% | 25.70% |
| SBI Long Term Advantage Fund Series IV- Direct Plan Growth | 38.02% | - |
| BOI AXA Tax Advantage Fund- Direct Plan- Growth | 29.43% | 20.20% |
| BOI AXA Midcap Tax Fund Series 1- Direct Growth | 29.29% |
SIP Returns - Absolute Returns
On Investment of Rs 1,000
| ELSS Mutual Fund | 3-Year | 5-Year |
|---|---|---|
| Quant Tax Plan - Direct-Growth | 100.34% | 126.27% |
| SBI Tax Advantage Fund Series III- Direct- Growth | 79.16% | 113.50% |
| SBI Long Term Advantage Fund Series IV- Direct Plan Growth | 86.59% | |
| BOI AXA Tax Advantage Fund- Direct Plan- Growth | 56.93% | 74.12% |
| BOI AXA Midcap Tax Fund Series 1- Direct Growth | 60.17% |
Disclaimer
Mutual fund investments are subject to market risk. Read all scheme-related documents, Terms and Conditions carefully before investing. The above-mentioned information is purely informational and carried forward from MoneyControl. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.
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