ELSS Mutual Funds Deliver Impressive Returns: The three most recommended equity linked saving scheme (ELSS) mutual funds are tax saver funds, another name for equity mutual funds. A three-year lock-in period is included. Section 80C of the Income Tax Act provides tax relief on deposits of up to Rs 1.50 lakh per fiscal year for this and no other category of mutual funds.
Certain ELSS funds have not only generated outstanding returns over the past three years, but have also significantly outperformed their benchmarks. We provide the three-year rankings of the top three ELSS funds as well as the return that a monthly SIP of Rs 10,000 would have generated over the same time period.
The investment fund achieves the highest return of 33.17% over the course of three years. However, its benchmark, the NIFTY 500 Total Return Index, has changed.
Top 11 Small Cap Mutual Funds with Remarkable 3-Year Returns: Small But Mighty
The Leading Three ELSS Funds
Quant ELSS Fund for Tax Savings
a return of 21.08% has been provided. With assets under management (AUM) amounting to Rs 9,143.70 crore, the ELSS fund’s direct plan net asset value (NAV) is Rs 412.4028.
A total of 98.32% of the fund’s holdings are allocated to domestic equities, of which 49% are large-cap stocks.
Its portfolio consists of 44 companies, including RIL, Adani Power, and Jio Financial Services Ltd. A Rs 10,000 SIP invested for thirty-six months has yielded Rs 6,20,381 in total.
Long Term Equity Fund of SBI
The SBI fund has generated returns of 29.92% over the past three years. It has outperformed the S&P BSE 500 Total Return Index, its benchmark, by 21.01% during the same time period.
The NAV of the fund is Rs 414.9693, whereas its AUM is Rs 23,202.34 crore. Ninety-one percent of the fund’s holdings are invested in equities. It consists of 65 securities in total. Three years of a Rs 10,000 SIP in the fund has yielded Rs 5,86,533.
ELSS Tax Saver Fund of HDFC
The three-year return of the fund is 27.93%. The benchmark for this fund is the NIFTY 500 Total Return Index.
The NAV of the HDFC fund is Rs 1,284.4160, whereas its AUM is Rs 14,434.34 crore.
The fund allocates 62.93 percent of its portfolio to large-cap securities, representing 92.66 percent of its investments in domestic equities.
The fund’s portfolio comprises forty securities, the most prominent of which are ICICI Bank, HDFC Bank, and Axis Bank.
