If you plan to invest in ELSS, then you can bet on these 3 funds

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new Delhi. Mutual funds are a better investment option. Especially for such investors who want to save tax and also want to take advantage of equity market, it would be better for them to invest in tax saving mutual funds through SIP (Systematic Investment Plan). This is the right time for the investor to start investing. Helps in avoiding volatility in the stock market by removing the worries of the investors. Its compounding benefit feature is an attraction that gives better returns to the long-term investors. Some such equity-linked savings schemes are (ELSS) are schemes which have given good returns to their investors.

There is still about two weeks to the end of the current financial year 2021-22. If you are planning to invest in ELSS to save tax, then you can bet on these three tax saving funds.

Quant Tax Plan – Direct Plan-Growth
This is a nine year old fund. It was launched in January 2013. It manages assets of Rs 855.21 crore. It has given good returns in the last one year. Its NAV is currently Rs 224.77. It has given a return of 85.49 percent to the investors in the three-year ASIP. In this, you can invest a minimum of Rs 500 through SIP. The fund has mostly invested in services, financial, construction, consumer staples, metals and mining sector stocks.

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IDFC Tax Advantage (ELSS) Fund – Direct Plan – Growth
This open ended ELSS fund is also nine years old. was also launched in January 2013 and is managed by IDFC Mutual Fund House. Its AUM (assets under management) is Rs 3,428 crore. Its NAV as on March 15, 2022 was Rs 103.34. Its minimum investment amount under SIP is Rs 1,000. IDFC Tax Advantage (ELSS) Fund – Direct Plan – Growth has given a return of 55.25 percent in a lock-in period of three years.

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BOI AXA Tax Advantage Fund – Direct Plan-Growth
This tax saving fund was also launched in January 2013. Its AUM is Rs 538.52 crore. Its NAV as on March 15, 2022 was Rs 104.79. Its minimum investment amount is Rs 500. It has given a return of 49.55 percent to investors in three-year SIP. Most of its exposure is in the financial, technology, healthcare, materials and capital goods sectors.

Tags: Tax, tax planning, Tax saving, Tax saving options

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