Top Five ELSS Funds to Save Tax in March 2017

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The moment it is decided that investment has to be made in ELSS mutual funds, the next step is towards finding the best scheme of investment. Among the large number of alternatives in ELSS mutual funds, it is quite difficult to opt for the one that provides the exact solution that you desire for. In the earlier post titled “Reasons to Invest in ELSS to Save Tax Now”, we described the benefits of investing in ELSS schemes.

Here we have presented the list of top five ELSS Funds that are the best ones in its category and can yield the expected returns along with tax-saving benefit.

1. Reliance Tax Saving Fund (G): The primary objective of the scheme is to generate long-term capital appreciation from investment in the equity and related instruments. The returns of the scheme are favourable since a long time and has helped many investors in gaining substantial gains. The three and five year annualised returns are 24.09 and 22.87 percent respectively.
2. Axis Long Term Equity Fund (G): The major objective of this strategy is to generate capital growth along with providing tax exemption under Section 80C. The annualised returns for three and five years are 21.17 and 22.01 percent.
3. Birla Sun Life Tax Relief 96 (G): The aim of the programme is to provide capital appreciation through a portfolio with 80 percent equity, 20 percent debt and money market instruments. The annualised returns of the scheme for three- and five-year investment are 21.26 and 20.96 percent respectively.
4. DSP BlackRock Tax Saver Fund (G): The primary objective of this scheme is generating medium to long-term capital appreciation through a well-diversified portfolio constituting equity and related securities. The annualised returns for three and five years are 21.88 and 21.47 percent respectively.
5. ICICI Prudential Long Term Equity Fund (G): The scheme seeks long-term capital gain by investing over 90 percent of the funds in equity securities, while the remaining 10 percent is put in the debt and money market instruments. The annualised returns of the scheme for three and five years are 18.7 and 19.4 percent.

The list as mentioned above is based on the CRISIL rating and analysis conducted by our fund experts. We recommend our clients to invest their hard-earned money in this strategy to gain substantial benefit this financial year 2016-17 by saving tax.

My SIP Online has a strong team of advisors who can further assist you in taking an informed investment decision in order to accomplish your tax-saving goals and wealth creation desires. You must get in touch with us to avail maximum benefits.