Everyone likes getting free stuff on the purchases they make. The joy of getting multiple things for the price of one is just overwhelming. This is one of the major reasons, the popularity of the ELSS mutual funds have increased in the past 1 decade. By investing in these schemes, an investor can enjoy dual benefits of high growth from equity instruments, as well as tax saving benefits on investments up to Rs. 1.5 lakhs. But, a lot of investors are confused regarding the right scheme from this category that can be chosen for optimal growth. So today, we will see the ELSS - Tax Saving schemes, which you can invest in to enjoy great growth.
Aditya Birla Sun Life Tax Relief 96’ Fund (G)
This scheme is one of the oldest schemes of this category and since the inception has secured a position in the top performing mutual funds list. The biggest proof of its exceptional performance is the average annualized return of more than 24% that it has provided since its inception. A great choice for investors with a long-term investment horizon and moderately high risk appetite.
Axis Long Term Equity Fund (G)
This scheme is a perfect tax saving solution for investors who want a stable growth. In the past 1 year, even during extreme volatility, this ELSS scheme showed a great performance by providing Year to Date return of 4.09%. One of the best features of the scheme is its high turnover ratio, which allows it to change the portfolio allocation based on the equity market conditions. This scheme too has been among the top performing ELSS mutual funds from a very long time.
L&T Tax Advantage Fund (G)
This scheme is a great pick for investors who want to invest in a diversified portfolio of equities. L&T Tax Advantage Fund has also shown exceptional performance in the long-term, by providing annual average returns of more than 18% in the past 10 years. One of the main reasons behind its consistency is the exceptional management skills of Mr. Soumendra Nath Lahiri, who is also managing other top performing mutual funds from L&T, such as L&T Midcap Fund, L&T Emerging Businesses Fund, and many others.
DSP Tax Saver Fund (G)
A great choice in the current market phase and the reason for that is its high allocation in the finance sector (38.10%). Now, as you may know, a lot of experts are holding convictions for the growth of this sector in the next 1 year and with the enhancement of cash inflows by the government in PSU banks has increased the chances. So, by investing in this top performing mutual fund scheme, you can enjoy the growth of this sector firsthand.
These were top performing schemes that you can invest in for saving taxes up to Rs. 43,650 in the year 2019. An added benefit of these schemes is the lock-in period of just 3 years, which is the lowest among all the 80C instruments. So, don’t wait anymore and start your investments now. For hassle free investments in these top performers, you can visit MySIPonline. You can also check the top performing mutual fund schemes from other categories and can create a full fledged portfolio for optimal long-term growth.
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