Ask ET Mutual Funds: Which ELSS should I invest?

I am a 30-year-old married man and my wife is also a working professional. We both want to invest Rs 15,000 in ELSS funds and need suggestion on top four- five funds to do so. The one we have picked are:

DSP BlackRock Tax Saver Fund - Growth
Reliance Tax Saver (ELSS) Fund)-Growth
Franklin India Taxshield Fund-Growth
AXIS Long Term Equity Fund-Growth

Can you suggest corrections in our course with better funds as per your expert opinion?

--Eshwarya

You have picked up Equity Linked Savings Schemes (ELSSs) with a good track record. Three of them are part of our recommendation list. You can invest in one or two schemes from the list. It is not wise to invest in more than two schemes as it may lead to an overcrowded portfolio when you invest for other financial goals. Also, often it won’t necessarily result in diversification as there could be overlap of portfolios of schemes.

It is not necessary to sell your investments soon after the mandatory lock-in period. If the scheme is performing well, you can continue to hold them.

(If you have any mutual fund queries, message ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)