Top 5 ELSS funds rally up to 60% in a year. Do you own any?
Tax-saving mutual funds, or ELSS, provide investors with tax benefits under Section 80C of the Income Tax Act, of 1961. The lock-in period inculcates a good habit among investors to thrive for long-term investing while putting their money in an eq...
Using the ET Mutual Fund Screener, ETMarkets examined the top 5 ELSS schemes over the past year, which have surged by 45-60%. This demonstrates that many of these funds are focusing their investments on the financial, energy, and healthcare sectors. Tax-saving mutual funds, or ELSS, provide investors with tax benefits under Section 80C of the Income Tax Act, of 1961. The lock-in period inculcates a good habit among investors to thrive for long-term investing while putting their money in an equity-related instrument.
SBI Long Term Equity Fund Direct Plan-Growth
In the last 1 year, the fund has generated 58.80% returns, with its current net asset value (NAV) standing at Rs 392.12 and an expense ratio of 0.97%. As of January 31, 2024, the fund holds assets under management (AUM) totalling Rs 2,0085.15 crore. Its main investment emphasis is on the financial, energy, and healthcare sectors.
Quant ELSS Tax Saver Fund Direct-Growth
In the last 1 year, the fund has generated 58.38% returns, with its current net asset value (NAV) standing at Rs 383.37 and an expense ratio of 0.76%. As of January 31, 2024, the fund holds assets under management (AUM) totalling Rs 7,237.64 crore. Its main investment emphasis is on the energy, financial, and metals & mining sectors.
Bank of India ELSS Tax Saver Direct-Growth
In the last one year, the fund has generated 53.09% returns, with its current net asset value (NAV) standing at Rs 168.02 and an expense ratio of 1.20%. As of January 31, 2024, the fund holds assets under management (AUM) totalling Rs 1,090.31 crore. Its main investment emphasis is on the financial, energy, and healthcare sectors.
Motilal Oswal ELSS Tax Saver Fund Direct-Growth
In the last one year, the fund has generated 52.82% returns, with its current net asset value (NAV) standing at Rs 45.42 and an expense ratio of 0.65%. As of January 31, 2024, the fund holds assets under management (AUM) totalling Rs 3,025.82 crore. Its main investment emphasis is on the financial, services, and healthcare sectors.
HDFC ELSS Tax Saver Direct Plan-Growth
In the last one year, the fund has generated 45.96% returns, with its current net asset value (NAV) standing at Rs 1,231.50 and an expense ratio of 1.14%. As of January 31, 2024, the fund holds assets under management (AUM) totalling Rs 13,440.72 crore. Its main investment emphasis is on the financial, healthcare, and technology sectors.
