Curated By: Business Desk
Last Updated: October 20, 2023, 19:27 IST
Bank of India Tax Advantage Fund has given 23.86% annualised return to buyers within the final three years.
Equity Linked Saving Scheme (ELSS) funds are fairness mutual funds that enable buyers to avoid wasting tax. Investments in these funds are eligible for tax deduction underneath part 80C. A significant benefit of investing in these funds is that they provide increased return in comparison with conventional financial savings devices.
Here are high 5 ELSS funds which have given substantial returns to buyers. The 5-year common return of those funds has been round 17 to 26 p.c and the three-yr common return has been 25 to 36 p.c.
Here are the highest 5 ELSS mutual funds:
1. Quant Tax Plan Fund Direct Plan – Growth
The direct progress plan of Quant Tax Plan Fund has reaped enormous dividends for buyers within the final three and 5 years. The common return of this fund in three years stood round 36.34 p.c, whereas in 5 years it has given an annualised return of 28.22 p.c. This fund was launched on January 1, 2013, and its belongings underneath administration (AUM) stand at Rs 4,425 crore.
2. Bank of India Tax Advantage Fund
The Direct Growth Plan of the Bank of India Tax Advantage Fund can also be among the many ELSS funds which have given excessive returns. The three-yr annualised return of this fund has been 25.23 p.c and the 5-yr common return has been 22.21 p.c. This scheme was launched in 2013 and its AUM now stands at Rs 888.58 crore.
3. Mirae Asset Tax Saver Fund Direct Growth
Mirae Asset Tax Saver Fund Direct Growth scheme has given 23.60 p.c annualised returns to buyers within the final three years. Its common return in 5 years has been practically 20 p.c. The complete AUM of the scheme now stands at Rs 17,419 crore.
4. Bandhan Tax Advantage Fund Direct Growth
Bandhan Tax Advantage Fund was launched on January 1, 2013, and its AUM presently stands at greater than Rs 5100 crore. The ELSS fund has given 31.52 p.c annualised return to buyers within the final three years whereas within the final 5 years the buyers have seen practically 20 p.c progress of their funding.
5. Kotak Tax Saver Fund Direct Growth
The direct progress plan of Kotak Tax Saver Fund has additionally given substantial returns to the buyers. The three-yr annualised return of this ELSS fund stands at 25.25 p.c whereas within the final 5 years the fund has given a return of 19.34 p.c. The complete AUM of Kotak Tax Saver Fund presently stands at Rs 4198.6 crore.
