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11 Best Tax Saving ELSS Mutual Funds 2024
Best elss Funds or Equity Linked Savings Schemes are equity diversified Mutual Funds that majorly invest in equity-linked instruments (like shares and stocks) to provide Market-linked returns and help save direct tax on Income. Typically, 80% of the fund corpus is invested in equity and the remaining in debt instruments.
ELSS funds are also known as the tax saving Mutual Funds as they offer tax benefits under Section 80C of the income tax Act. Moreover, the ELSS Mutual Funds are open-ended, which means that the investors can subscribe in these funds as and when they want.
Who Can Invest in ELSS Fund?
Generally, ELSS mutual funds are suitable for all kinds of investors who are willing to take market-linked risks for Tax Planning and saving money. Anyone can invest in ELSS funds at any point of time in their life. However, it is suggested to invest in tax saving ELSS funds during the early stage of your career so that your money grows over time and you earn better returns. Hence, save tax and earn good returns both at the same time by Investing in best ELSS funds. Investors should be aware that amount invested in ELSS funds is locked for 3 Years.
Investors can invest in ELSS mutual funds as lumpsum (One Time) of SIP (Systematic Investment plan). It is advised for beginners to generally invest using SIP as it better suited for them.
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Other Tax Saving Options
Other tax saving options under Section 80C includes:
- Life Insurance premium
- Tax saving fixed deposits
- PPF
- NSC
- EPF
- Unit Linked Equity Plans (ULIP)
One should know combines limit of saving under section 80c is limited to 1.5 Lakhs Per Financial year.
Top 11 Best Performing ELSS Mutual Funds for Investment in FY 24 - 25
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) Tata India Tax Savings Fund Growth ₹45.7642
↑ 0.26 ₹4,722 10.6 25.8 35.3 18.7 21.1 24 L&T Tax Advantage Fund Growth ₹137.199
↑ 0.40 ₹4,374 9.3 33.2 48.3 19.5 22 28.4 Principal Tax Savings Fund Growth ₹515.24
↑ 1.03 ₹1,395 8 20.2 31.1 17.4 21.6 24.5 BOI AXA Tax Advantage Fund Growth ₹172.53
↑ 1.22 ₹1,485 2.4 20.4 44.2 19.2 28.4 34.8 JM Tax Gain Fund Growth ₹52.2615
↑ 0.19 ₹173 11.9 35.9 51.5 23 25.6 30.9 Invesco India Tax Plan Growth ₹131.51
↑ 0.52 ₹2,946 12.3 28.2 43.4 17.3 22.1 30.9 BNP Paribas Long Term Equity Fund (ELSS) Growth ₹96.9986
↑ 0.40 ₹951 9.7 26.3 44 17.7 20.9 31.3 HDFC Long Term Advantage Fund Growth ₹595.168
↑ 0.28 ₹1,318 1.2 15.4 35.5 20.6 17.4 Sundaram Diversified Equity Fund Growth ₹224.504
↑ 0.28 ₹1,678 8.5 18.2 27.3 15.2 18.9 23.3 IDBI Equity Advantage Fund Growth ₹43.39
↑ 0.04 ₹485 9.7 15.1 16.9 20.8 10 Edelweiss Long Term Equity Fund Growth ₹113.51
↑ 0.27 ₹392 8.5 23.2 37.6 17.4 20.6 26.8 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 13 Sep 24
*Above is list of top ELSS (Equity Linked Saving Scheme) having AUM/Net Assets above than 500 Crore and having fund age >= 3 years.
To provide medium to long term capital gains along with income tax relief to its Unitholders, while at all times emphasising the importance of capital appreciation.. Tata India Tax Savings Fund is a Equity - ELSS fund was launched on 13 Oct 14. It is a fund with Moderately High risk and has given a Below is the key information for Tata India Tax Savings Fund Returns up to 1 year are on To generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities. L&T Tax Advantage Fund is a Equity - ELSS fund was launched on 27 Feb 06. It is a fund with Moderately High risk and has given a Below is the key information for L&T Tax Advantage Fund Returns up to 1 year are on To build a high quality growth-oriented portfolio to provide long-term capital gains to the investors, the scheme aims at providing returns through capital appreciation. Principal Tax Savings Fund is a Equity - ELSS fund was launched on 31 Mar 96. It is a fund with Moderately High risk and has given a Below is the key information for Principal Tax Savings Fund Returns up to 1 year are on The Scheme seeks to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities across all market capitalisations. The Scheme is in the nature of diversified multi-cap fund. The Scheme is not providing any assured or guaranteed returns.(There can be no assurance that the investment objectives of the Scheme will be realized.) BOI AXA Tax Advantage Fund is a Equity - ELSS fund was launched on 25 Feb 09. It is a fund with Moderately High risk and has given a Below is the key information for BOI AXA Tax Advantage Fund Returns up to 1 year are on The investment objective is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities and to enable investors a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time. However, there can be no assurance that the investment objectives of the Scheme will be realized. The Scheme does not guarantee/indicate any returns. JM Tax Gain Fund is a Equity - ELSS fund was launched on 31 Mar 08. It is a fund with Moderately High risk and has given a Below is the key information for JM Tax Gain Fund Returns up to 1 year are on The investment objective of the Scheme is to generate long term capital growth from a diversified portfolio of predominantly equity and equity-related securities. Invesco India Tax Plan is a Equity - ELSS fund was launched on 29 Dec 06. It is a fund with Moderately High risk and has given a Below is the key information for Invesco India Tax Plan Returns up to 1 year are on The investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent fromtime to time. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns. BNP Paribas Long Term Equity Fund (ELSS) is a Equity - ELSS fund was launched on 5 Jan 06. It is a fund with Moderately High risk and has given a Below is the key information for BNP Paribas Long Term Equity Fund (ELSS) Returns up to 1 year are on To generate long term capital appreciation from a portfolio that is predominantly in equity and equity related instruments HDFC Long Term Advantage Fund is a Equity - ELSS fund was launched on 2 Jan 01. It is a fund with Moderately High risk and has given a Below is the key information for HDFC Long Term Advantage Fund Returns up to 1 year are on To achieve capital appreciation by investing
predominantly in equities and equity-related
instruments. A three-year lock-in period shall
apply in line with the regulation for ELSS
schemes. Sundaram Diversified Equity Fund is a Equity - ELSS fund was launched on 22 Nov 99. It is a fund with Moderately High risk and has given a Below is the key information for Sundaram Diversified Equity Fund Returns up to 1 year are on The Scheme will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective to provide investors with opportunities for capital appreciation and income along with the benefit of income-tax deduction(under section 80C of the Income-tax Act, 1961) on their investments. Investments in this scheme would be subject to a statutory lock-in of 3 years from the date of allotment to be eligible for income-tax benefits under Section 80C. There can be no assurance that the investment objective under the scheme will be realized. IDBI Equity Advantage Fund is a Equity - ELSS fund was launched on 10 Sep 13. It is a fund with Moderately High risk and has given a Below is the key information for IDBI Equity Advantage Fund Returns up to 1 year are on (Erstwhile Edelweiss ELSS Fund) The primary objective of the scheme is to generate long-term capital appreciation with an option of periodic payouts at the end of lock in periods from a portfolio that invests predominantly in equity and equity related instruments. Edelweiss Long Term Equity Fund is a Equity - ELSS fund was launched on 30 Dec 08. It is a fund with Moderately High risk and has given a Below is the key information for Edelweiss Long Term Equity Fund Returns up to 1 year are on 1. Tata India Tax Savings Fund
CAGR/Annualized return of 16.6% since its launch. Ranked 1 in ELSS category. Return for 2023 was 24% , 2022 was 5.9% and 2021 was 30.4% . Tata India Tax Savings Fund
Growth Launch Date 13 Oct 14 NAV (13 Sep 24) ₹45.7642 ↑ 0.26 (0.57 %) Net Assets (Cr) ₹4,722 on 31 Jul 24 Category Equity - ELSS AMC Tata Asset Management Limited Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 1.75 Sharpe Ratio 1.95 Information Ratio -0.18 Alpha Ratio -4.2 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,213 31 Aug 21 ₹15,381 31 Aug 22 ₹16,608 31 Aug 23 ₹18,935 31 Aug 24 ₹26,020 Returns for Tata India Tax Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 6.4% 3 Month 10.6% 6 Month 25.8% 1 Year 35.3% 3 Year 18.7% 5 Year 21.1% 10 Year 15 Year Since launch 16.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 24% 2022 5.9% 2021 30.4% 2020 11.9% 2019 13.6% 2018 -8.4% 2017 46% 2016 2.1% 2015 13.3% 2014 Fund Manager information for Tata India Tax Savings Fund
Name Since Tenure Sailesh Jain 16 Dec 21 2.63 Yr. Tejas Gutka 9 Mar 21 3.4 Yr. Data below for Tata India Tax Savings Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 30.28% Consumer Cyclical 15.03% Industrials 13.7% Basic Materials 7.53% Technology 7.22% Energy 5.91% Communication Services 4.59% Utility 3.7% Health Care 3.04% Real Estate 2.9% Consumer Defensive 1.64% Asset Allocation
Asset Class Value Cash 4.46% Equity 95.54% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 28 Feb 10 | HDFCBANK6% ₹279 Cr 1,725,000 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Nov 16 | ICICIBANK5% ₹258 Cr 2,125,000 Infosys Ltd (Technology)
Equity, Since 30 Sep 18 | INFY5% ₹217 Cr 1,160,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Jan 18 | RELIANCE4% ₹203 Cr 675,000 State Bank of India (Financial Services)
Equity, Since 30 Nov 18 | SBIN4% ₹190 Cr 2,175,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 5322153% ₹152 Cr 1,300,000 NTPC Ltd (Utilities)
Equity, Since 30 Jun 21 | 5325553% ₹144 Cr 3,451,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Sep 19 | BHARTIARTL3% ₹140 Cr 940,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Nov 16 | LT3% ₹134 Cr 352,147 Samvardhana Motherson International Ltd (Consumer Cyclical)
Equity, Since 30 Nov 22 | MOTHERSON3% ₹134 Cr 6,800,000 2. L&T Tax Advantage Fund
CAGR/Annualized return of 15.2% since its launch. Ranked 7 in ELSS category. Return for 2023 was 28.4% , 2022 was -3% and 2021 was 30.3% . L&T Tax Advantage Fund
Growth Launch Date 27 Feb 06 NAV (13 Sep 24) ₹137.199 ↑ 0.40 (0.29 %) Net Assets (Cr) ₹4,374 on 31 Jul 24 Category Equity - ELSS AMC L&T Investment Management Ltd Rating ☆☆☆☆ Risk Moderately High Expense Ratio 1.89 Sharpe Ratio 2.88 Information Ratio -0.05 Alpha Ratio 8.12 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,334 31 Aug 21 ₹15,602 31 Aug 22 ₹15,700 31 Aug 23 ₹17,964 31 Aug 24 ₹26,903 Returns for L&T Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 6.1% 3 Month 9.3% 6 Month 33.2% 1 Year 48.3% 3 Year 19.5% 5 Year 22% 10 Year 15 Year Since launch 15.2% Historical performance (Yearly) on absolute basis
Year Returns 2023 28.4% 2022 -3% 2021 30.3% 2020 13.5% 2019 4.6% 2018 -8.1% 2017 42.3% 2016 8.1% 2015 2.9% 2014 44.8% Fund Manager information for L&T Tax Advantage Fund
Name Since Tenure Gautam Bhupal 26 Nov 22 1.68 Yr. Sonal Gupta 21 Jul 21 3.03 Yr. Abhishek Gupta 1 Mar 24 0.42 Yr. Data below for L&T Tax Advantage Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 23.11% Industrials 22.11% Consumer Cyclical 16.49% Technology 10.81% Basic Materials 5.83% Energy 5.04% Health Care 4.62% Utility 3.87% Consumer Defensive 3.1% Real Estate 2.86% Communication Services 1.59% Asset Allocation
Asset Class Value Cash 0.57% Equity 99.43% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 06 | HDFCBANK4% ₹188 Cr 1,162,500 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 21 | RELIANCE4% ₹162 Cr 537,600 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 09 | ICICIBANK3% ₹140 Cr 1,155,500 Infosys Ltd (Technology)
Equity, Since 31 Mar 06 | INFY3% ₹131 Cr 703,100
↑ 81,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Jul 22 | LT3% ₹115 Cr 301,450
↓ -35,855 Persistent Systems Ltd (Technology)
Equity, Since 31 Jul 21 | PERSISTENT2% ₹98 Cr 202,400
↓ -31,500 KPIT Technologies Ltd (Technology)
Equity, Since 30 Sep 21 | KPITTECH2% ₹96 Cr 518,700
↓ -34,500 Power Finance Corp Ltd (Financial Services)
Equity, Since 31 Dec 23 | 5328102% ₹92 Cr 1,659,900 Trent Ltd (Consumer Cyclical)
Equity, Since 30 Nov 23 | 5002512% ₹92 Cr 158,100
↓ -19,720 CG Power & Industrial Solutions Ltd (Industrials)
Equity, Since 30 Apr 22 | 5000932% ₹88 Cr 1,201,300
↓ -119,283 3. Principal Tax Savings Fund
CAGR/Annualized return of 16.5% since its launch. Ranked 8 in ELSS category. Return for 2023 was 24.5% , 2022 was 4.3% and 2021 was 32.1% . Principal Tax Savings Fund
Growth Launch Date 31 Mar 96 NAV (13 Sep 24) ₹515.24 ↑ 1.03 (0.20 %) Net Assets (Cr) ₹1,395 on 31 Jul 24 Category Equity - ELSS AMC Principal Pnb Asset Mgmt. Co. Priv. Ltd. Rating ☆☆☆☆ Risk Moderately High Expense Ratio 2.26 Sharpe Ratio 2.02 Information Ratio -0.49 Alpha Ratio -2.41 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,551 31 Aug 21 ₹16,347 31 Aug 22 ₹17,773 31 Aug 23 ₹19,940 31 Aug 24 ₹26,702 Returns for Principal Tax Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 5.3% 3 Month 8% 6 Month 20.2% 1 Year 31.1% 3 Year 17.4% 5 Year 21.6% 10 Year 15 Year Since launch 16.5% Historical performance (Yearly) on absolute basis
Year Returns 2023 24.5% 2022 4.3% 2021 32.1% 2020 18.9% 2019 2.5% 2018 -9.2% 2017 48.8% 2016 6.2% 2015 2.7% 2014 49.4% Fund Manager information for Principal Tax Savings Fund
Name Since Tenure Sudhir Kedia 29 Oct 19 4.76 Yr. Rohit Seksaria 1 Jan 22 2.58 Yr. Data below for Principal Tax Savings Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 30.75% Industrials 12.08% Consumer Cyclical 11.06% Technology 10.27% Health Care 7.6% Energy 7.05% Consumer Defensive 7.05% Communication Services 5.44% Basic Materials 4.31% Utility 0.72% Real Estate 0.51% Asset Allocation
Asset Class Value Cash 3.13% Equity 96.87% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 09 | HDFCBANK7% ₹98 Cr 606,077 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK6% ₹80 Cr 661,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 21 | RELIANCE6% ₹78 Cr 260,000
↓ -14,000 Infosys Ltd (Technology)
Equity, Since 31 Jan 09 | INFY4% ₹58 Cr 313,000 State Bank of India (Financial Services)
Equity, Since 30 Apr 05 | SBIN3% ₹39 Cr 444,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Mar 13 | LT3% ₹37 Cr 96,021 Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 17 | 5322153% ₹36 Cr 311,000 Force Motors Ltd (Consumer Cyclical)
Equity, Since 30 Nov 21 | 5000333% ₹36 Cr 39,000 Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 31 Aug 15 | SUNPHARMA2% ₹34 Cr 200,000 Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 21 | TATAMOTORS2% ₹33 Cr 288,000 4. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 20.1% since its launch. Ranked 13 in ELSS category. Return for 2023 was 34.8% , 2022 was -1.3% and 2021 was 41.5% . BOI AXA Tax Advantage Fund
Growth Launch Date 25 Feb 09 NAV (13 Sep 24) ₹172.53 ↑ 1.22 (0.71 %) Net Assets (Cr) ₹1,485 on 31 Jul 24 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.37 Sharpe Ratio 2.88 Information Ratio 0.38 Alpha Ratio 9.17 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹12,031 31 Aug 21 ₹20,377 31 Aug 22 ₹20,248 31 Aug 23 ₹23,493 31 Aug 24 ₹36,142 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 2% 3 Month 2.4% 6 Month 20.4% 1 Year 44.2% 3 Year 19.2% 5 Year 28.4% 10 Year 15 Year Since launch 20.1% Historical performance (Yearly) on absolute basis
Year Returns 2023 34.8% 2022 -1.3% 2021 41.5% 2020 31.2% 2019 14.6% 2018 -16.3% 2017 57.7% 2016 -1.2% 2015 2.1% 2014 44% Fund Manager information for BOI AXA Tax Advantage Fund
Name Since Tenure Alok Singh 27 Apr 22 2.26 Yr. Data below for BOI AXA Tax Advantage Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 26.72% Industrials 19.39% Basic Materials 15.74% Consumer Cyclical 11.27% Energy 6.41% Technology 5.82% Utility 4.38% Consumer Defensive 4% Health Care 3.6% Real Estate 1.95% Asset Allocation
Asset Class Value Cash 0.67% Equity 99.29% Debt 0.04% Top Securities Holdings / Portfolio
Name Holding Value Quantity State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN4% ₹66 Cr 752,000 Oil India Ltd (Energy)
Equity, Since 31 Mar 23 | OIL4% ₹61 Cr 1,053,000 Vedanta Ltd (Basic Materials)
Equity, Since 31 Mar 24 | 5002954% ₹55 Cr 1,211,000 Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Jul 23 | HAL3% ₹49 Cr 99,900 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK3% ₹47 Cr 290,000
↑ 67,000 Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | 5324833% ₹40 Cr 3,500,000 NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 5325553% ₹40 Cr 955,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE2% ₹34 Cr 114,000 Bank of Baroda (Financial Services)
Equity, Since 31 Oct 22 | 5321342% ₹33 Cr 1,286,338 Bharat Forge Ltd (Consumer Cyclical)
Equity, Since 31 Mar 24 | 5004932% ₹32 Cr 187,000 5. JM Tax Gain Fund
CAGR/Annualized return of 10.6% since its launch. Ranked 18 in ELSS category. Return for 2023 was 30.9% , 2022 was 0.5% and 2021 was 32.2% . JM Tax Gain Fund
Growth Launch Date 31 Mar 08 NAV (13 Sep 24) ₹52.2615 ↑ 0.19 (0.37 %) Net Assets (Cr) ₹173 on 31 Jul 24 Category Equity - ELSS AMC JM Financial Asset Management Limited Rating ☆☆☆ Risk Moderately High Expense Ratio 2.4 Sharpe Ratio 2.79 Information Ratio 0.71 Alpha Ratio 10.16 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,374 31 Aug 21 ₹16,596 31 Aug 22 ₹17,115 31 Aug 23 ₹20,445 31 Aug 24 ₹31,271 Returns for JM Tax Gain Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 5.9% 3 Month 11.9% 6 Month 35.9% 1 Year 51.5% 3 Year 23% 5 Year 25.6% 10 Year 15 Year Since launch 10.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 30.9% 2022 0.5% 2021 32.2% 2020 18.3% 2019 14.9% 2018 -4.6% 2017 42.6% 2016 5.2% 2015 -0.6% 2014 54.9% Fund Manager information for JM Tax Gain Fund
Name Since Tenure Asit Bhandarkar 31 Dec 21 2.58 Yr. Gurvinder Wasan 1 Dec 22 1.67 Yr. Chaitanya Choksi 18 Jul 14 10.04 Yr. Data below for JM Tax Gain Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Industrials 25.28% Financial Services 16.54% Basic Materials 16.4% Consumer Cyclical 13.31% Technology 11.01% Consumer Defensive 6.93% Communication Services 3.85% Health Care 2.45% Real Estate 1.94% Utility 1.92% Asset Allocation
Asset Class Value Cash 0.37% Equity 99.63% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Aug 18 | INFY4% ₹7 Cr 35,465
↑ 8,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Nov 10 | LT4% ₹6 Cr 16,750
↑ 1,250 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Mar 22 | ICICIBANK4% ₹6 Cr 50,975 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 11 | HDFCBANK4% ₹6 Cr 37,631
↓ -1,500 Tata Motors Ltd Class A (Consumer Cyclical)
Equity, Since 31 Jul 23 | TATAMTRDVR3% ₹5 Cr 57,500 Power Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 22 | 5328102% ₹4 Cr 77,625
↓ -10,000 Suzlon Energy Ltd (Industrials)
Equity, Since 31 Mar 24 | SUZLON2% ₹4 Cr 555,000
↑ 50,000 Voltas Ltd (Industrials)
Equity, Since 31 Jan 24 | VOLTAS2% ₹4 Cr 24,500 Housing & Urban Development Corp Ltd (Financial Services)
Equity, Since 29 Feb 24 | HUDCO2% ₹4 Cr 115,000 Jyothy Labs Ltd (Consumer Defensive)
Equity, Since 31 Jul 23 | 5329262% ₹4 Cr 67,038 6. Invesco India Tax Plan
CAGR/Annualized return of 15.7% since its launch. Ranked 17 in ELSS category. Return for 2023 was 30.9% , 2022 was -7.7% and 2021 was 32.6% . Invesco India Tax Plan
Growth Launch Date 29 Dec 06 NAV (13 Sep 24) ₹131.51 ↑ 0.52 (0.40 %) Net Assets (Cr) ₹2,946 on 31 Jul 24 Category Equity - ELSS AMC Invesco Asset Management (India) Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 1.97 Sharpe Ratio 2.55 Information Ratio 0 Alpha Ratio 0 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,768 31 Aug 21 ₹16,385 31 Aug 22 ₹16,221 31 Aug 23 ₹18,305 31 Aug 24 ₹26,361 Returns for Invesco India Tax Plan
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 7.1% 3 Month 12.3% 6 Month 28.2% 1 Year 43.4% 3 Year 17.3% 5 Year 22.1% 10 Year 15 Year Since launch 15.7% Historical performance (Yearly) on absolute basis
Year Returns 2023 30.9% 2022 -7.7% 2021 32.6% 2020 19.2% 2019 9.4% 2018 -1.3% 2017 35.7% 2016 3.4% 2015 5.8% 2014 54.3% Fund Manager information for Invesco India Tax Plan
Name Since Tenure Amit Nigam 3 Sep 20 3.91 Yr. Dhimant Kothari 29 Mar 18 6.35 Yr. Data below for Invesco India Tax Plan as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 24.39% Industrials 15.52% Consumer Cyclical 12.02% Health Care 11.53% Technology 9.9% Basic Materials 7.55% Consumer Defensive 7.22% Energy 6.44% Utility 2.6% Communication Services 1.01% Asset Allocation
Asset Class Value Cash 0.6% Equity 99.4% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 22 | HDFCBANK7% ₹204 Cr 1,264,814
↑ 90,516 Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 17 | RELIANCE5% ₹161 Cr 533,999 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK5% ₹140 Cr 1,153,505 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jul 23 | TCS5% ₹138 Cr 315,430
↑ 29,811 United Spirits Ltd (Consumer Defensive)
Equity, Since 31 Dec 22 | UNITDSPR3% ₹77 Cr 542,261
↓ -55,449 Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 5322152% ₹72 Cr 614,075
↑ 50,000 Suzlon Energy Ltd (Industrials)
Equity, Since 31 Aug 23 | SUZLON2% ₹71 Cr 10,229,376 Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Jan 24 | DIVISLAB2% ₹70 Cr 142,546
↑ 12,147 Apollo Hospitals Enterprise Ltd (Healthcare)
Equity, Since 30 Nov 22 | APOLLOHOSP2% ₹67 Cr 100,754
↑ 40,640 Clean Science and Technology Ltd (Basic Materials)
Equity, Since 31 May 23 | 5433182% ₹64 Cr 395,319 7. BNP Paribas Long Term Equity Fund (ELSS)
CAGR/Annualized return of 12.9% since its launch. Ranked 22 in ELSS category. Return for 2023 was 31.3% , 2022 was -2.1% and 2021 was 23.6% . BNP Paribas Long Term Equity Fund (ELSS)
Growth Launch Date 5 Jan 06 NAV (13 Sep 24) ₹96.9986 ↑ 0.40 (0.41 %) Net Assets (Cr) ₹951 on 31 Jul 24 Category Equity - ELSS AMC BNP Paribas Asset Mgmt India Pvt. Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.29 Sharpe Ratio 2.35 Information Ratio 0 Alpha Ratio 0 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,827 31 Aug 21 ₹15,649 31 Aug 22 ₹15,633 31 Aug 23 ₹17,547 31 Aug 24 ₹25,474 Returns for BNP Paribas Long Term Equity Fund (ELSS)
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 7% 3 Month 9.7% 6 Month 26.3% 1 Year 44% 3 Year 17.7% 5 Year 20.9% 10 Year 15 Year Since launch 12.9% Historical performance (Yearly) on absolute basis
Year Returns 2023 31.3% 2022 -2.1% 2021 23.6% 2020 17.8% 2019 14.3% 2018 -9.3% 2017 42.3% 2016 -6.6% 2015 7.7% 2014 53% Fund Manager information for BNP Paribas Long Term Equity Fund (ELSS)
Name Since Tenure Sanjay Chawla 14 Mar 22 2.38 Yr. Pratish Krishnan 14 Mar 22 2.38 Yr. Miten Vora 1 Dec 22 1.67 Yr. Data below for BNP Paribas Long Term Equity Fund (ELSS) as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 25.14% Technology 14.09% Industrials 13.62% Consumer Cyclical 11.94% Consumer Defensive 6.35% Basic Materials 6.1% Health Care 5.41% Energy 4.04% Communication Services 3.75% Utility 3.68% Real Estate 2.77% Asset Allocation
Asset Class Value Cash 3.1% Equity 96.9% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 12 | ICICIBANK5% ₹48 Cr 396,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK5% ₹47 Cr 293,160
↓ -40,000 Infosys Ltd (Technology)
Equity, Since 29 Feb 24 | INFY4% ₹38 Cr 205,000
↑ 10,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Oct 18 | RELIANCE3% ₹32 Cr 106,600
↓ -30,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 23 | 5433203% ₹26 Cr 1,150,813
↓ -127,000 Trent Ltd (Consumer Cyclical)
Equity, Since 31 May 22 | 5002513% ₹26 Cr 44,614 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jan 23 | TCS3% ₹24 Cr 55,120 Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 5322152% ₹24 Cr 203,000
↓ -22,000 State Bank of India (Financial Services)
Equity, Since 31 Mar 22 | SBIN2% ₹21 Cr 243,000 Jyoti CNC Automation Ltd (Industrials)
Equity, Since 30 Apr 24 | JYOTICNC2% ₹21 Cr 184,594
↑ 51,000 8. HDFC Long Term Advantage Fund
CAGR/Annualized return of 21.4% since its launch. Ranked 23 in ELSS category. . HDFC Long Term Advantage Fund
Growth Launch Date 2 Jan 01 NAV (14 Jan 22) ₹595.168 ↑ 0.28 (0.05 %) Net Assets (Cr) ₹1,318 on 30 Nov 21 Category Equity - ELSS AMC HDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderately High Expense Ratio 2.25 Sharpe Ratio 2.27 Information Ratio -0.15 Alpha Ratio 1.75 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,143 31 Aug 21 ₹16,060
Purchase not allowed Returns for HDFC Long Term Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 4.4% 3 Month 1.2% 6 Month 15.4% 1 Year 35.5% 3 Year 20.6% 5 Year 17.4% 10 Year 15 Year Since launch 21.4% Historical performance (Yearly) on absolute basis
Year Returns 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 Fund Manager information for HDFC Long Term Advantage Fund
Name Since Tenure Data below for HDFC Long Term Advantage Fund as on 30 Nov 21
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 9. Sundaram Diversified Equity Fund
CAGR/Annualized return of 16.6% since its launch. Ranked 14 in ELSS category. Return for 2023 was 23.3% , 2022 was 4% and 2021 was 31.5% . Sundaram Diversified Equity Fund
Growth Launch Date 22 Nov 99 NAV (13 Sep 24) ₹224.504 ↑ 0.28 (0.13 %) Net Assets (Cr) ₹1,678 on 31 Jul 24 Category Equity - ELSS AMC Sundaram Asset Management Company Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.16 Sharpe Ratio 1.6 Information Ratio -1.08 Alpha Ratio -7.49 Min Investment 500 Min SIP Investment 250 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹9,917 31 Aug 21 ₹15,420 31 Aug 22 ₹16,479 31 Aug 23 ₹18,296 31 Aug 24 ₹23,691 Returns for Sundaram Diversified Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 5.6% 3 Month 8.5% 6 Month 18.2% 1 Year 27.3% 3 Year 15.2% 5 Year 18.9% 10 Year 15 Year Since launch 16.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 23.3% 2022 4% 2021 31.5% 2020 9.9% 2019 6.2% 2018 -10.6% 2017 38.4% 2016 6.8% 2015 3.1% 2014 45.7% Fund Manager information for Sundaram Diversified Equity Fund
Name Since Tenure Sudhir Kedia 1 Jan 22 2.58 Yr. Rohit Seksaria 24 Feb 21 3.43 Yr. Data below for Sundaram Diversified Equity Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 32.42% Industrials 12.17% Technology 10.61% Consumer Defensive 9.59% Consumer Cyclical 9.42% Energy 7.09% Basic Materials 5.84% Health Care 5.58% Communication Services 4.24% Utility 0.72% Real Estate 0.61% Asset Allocation
Asset Class Value Cash 1.7% Equity 98.3% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 13 | HDFCBANK7% ₹124 Cr 767,171
↓ -68,829 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Nov 11 | ICICIBANK6% ₹107 Cr 883,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 12 | RELIANCE6% ₹100 Cr 331,000
↓ -129,000 Infosys Ltd (Technology)
Equity, Since 30 Nov 16 | INFY5% ₹78 Cr 418,000
↓ -18,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 May 18 | LT4% ₹60 Cr 156,446 Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 31 May 20 | SUNPHARMA3% ₹56 Cr 326,000 Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 Jan 22 | TATAMOTORS3% ₹53 Cr 457,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Jul 20 | TCS3% ₹50 Cr 114,734 Axis Bank Ltd (Financial Services)
Equity, Since 31 May 18 | 5322153% ₹49 Cr 419,000 State Bank of India (Financial Services)
Equity, Since 31 Aug 20 | SBIN3% ₹48 Cr 545,000 10. IDBI Equity Advantage Fund
CAGR/Annualized return of 16% since its launch. Ranked 21 in ELSS category. . IDBI Equity Advantage Fund
Growth Launch Date 10 Sep 13 NAV (28 Jul 23) ₹43.39 ↑ 0.04 (0.09 %) Net Assets (Cr) ₹485 on 30 Jun 23 Category Equity - ELSS AMC IDBI Asset Management Limited Rating ☆☆☆ Risk Moderately High Expense Ratio 2.39 Sharpe Ratio 1.21 Information Ratio -1.13 Alpha Ratio 1.78 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹9,968 31 Aug 21 ₹14,760 31 Aug 22 ₹15,650 Returns for IDBI Equity Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 3.1% 3 Month 9.7% 6 Month 15.1% 1 Year 16.9% 3 Year 20.8% 5 Year 10% 10 Year 15 Year Since launch 16% Historical performance (Yearly) on absolute basis
Year Returns 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 Fund Manager information for IDBI Equity Advantage Fund
Name Since Tenure Data below for IDBI Equity Advantage Fund as on 30 Jun 23
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 11. Edelweiss Long Term Equity Fund
CAGR/Annualized return of 16.7% since its launch. Ranked 25 in ELSS category. Return for 2023 was 26.8% , 2022 was -0.1% and 2021 was 30.4% . Edelweiss Long Term Equity Fund
Growth Launch Date 30 Dec 08 NAV (13 Sep 24) ₹113.51 ↑ 0.27 (0.24 %) Net Assets (Cr) ₹392 on 31 Jul 24 Category Equity - ELSS AMC Edelweiss Asset Management Limited Rating ☆☆ Risk Moderately High Expense Ratio 2.33 Sharpe Ratio 2.16 Information Ratio -0.65 Alpha Ratio -1.77 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 19 ₹10,000 31 Aug 20 ₹10,300 31 Aug 21 ₹15,638 31 Aug 22 ₹16,119 31 Aug 23 ₹18,108 31 Aug 24 ₹25,538 Returns for Edelweiss Long Term Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Sep 24 Duration Returns 1 Month 5.8% 3 Month 8.5% 6 Month 23.2% 1 Year 37.6% 3 Year 17.4% 5 Year 20.6% 10 Year 15 Year Since launch 16.7% Historical performance (Yearly) on absolute basis
Year Returns 2023 26.8% 2022 -0.1% 2021 30.4% 2020 13.7% 2019 9.2% 2018 -9.1% 2017 37.7% 2016 -1.1% 2015 6.7% 2014 40.5% Fund Manager information for Edelweiss Long Term Equity Fund
Name Since Tenure Ashwani Agarwalla 1 Aug 23 1 Yr. Trideep Bhattacharya 1 Aug 23 1 Yr. Raj Koradia 1 Aug 24 0 Yr. Data below for Edelweiss Long Term Equity Fund as on 31 Jul 24
Equity Sector Allocation
Sector Value Financial Services 31.09% Industrials 15.02% Consumer Cyclical 12.64% Technology 11.14% Health Care 6.31% Energy 5.52% Consumer Defensive 5.33% Basic Materials 4.53% Communication Services 2.34% Utility 2.3% Real Estate 1.79% Asset Allocation
Asset Class Value Cash 1.99% Equity 98.01% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 10 | HDFCBANK5% ₹21 Cr 132,882 ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 17 | ICICIBANK5% ₹20 Cr 163,216 Reliance Industries Ltd (Energy)
Equity, Since 30 Jun 15 | RELIANCE4% ₹16 Cr 54,330 Trent Ltd (Consumer Cyclical)
Equity, Since 31 Jul 21 | 5002513% ₹13 Cr 22,899 State Bank of India (Financial Services)
Equity, Since 31 May 18 | SBIN3% ₹13 Cr 149,214 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Sep 15 | LT3% ₹13 Cr 33,431 Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY3% ₹12 Cr 63,596
↑ 5,653 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Oct 19 | BHARTIARTL2% ₹9 Cr 61,438 Samvardhana Motherson International Ltd (Consumer Cyclical)
Equity, Since 31 Jan 23 | MOTHERSON2% ₹9 Cr 449,586 Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 30 Nov 20 | SUNPHARMA2% ₹9 Cr 50,230
ELSS SIP Calculator
Know Your SIP Returns
Investment Modes in ELSS
SIP (Systematic Investment Plan) in ELSS
One can choose SIP as an investment mode for invest in Tax Saving Mutual Funds (ELSS) as certain amount is invested every month.
As shown in sample below-
| Month | Amount | Mode | |||
|---|---|---|---|---|---|
| April | 12,500 | SIP | May | 12,500 | SIP |
| June | 12,500 | SIP | July | 12,500 | SIP |
| August | 12,500 | SIP | September | 12,500 | SIP |
| October | 12,500 | SIP | November | 12,500 | SIP |
| December | 12,500 | SIP | January | 12,500 | SIP |
| Feburary | 12,500 | SIP | March | 12,500 | SIP |
| Total | 1,50,000 |
While investing through SIP method SIP benefits of Rupee Cost averaging are reaped as it scatter purchases every month and invest is made at an average price rather than at particular price which might be the case with Lumpsum Investments.
Lumpsum Investment in ELSS
As one might be saving in other tax saving intruments like ULIP, NSC, PF/EPF, insurance (under Sector 80c) one can decide whatever amount is needed to save tax after deducting other instruments and invest as Lumpsum purchases over the year or one time near end of Financial Year (Jan - Mar).
Tips to Invest in Best Tax Saving ELSS Funds
Invest in best ELSS Funds via a SIP (Systematic Investment Plan) in the beginning of the financial year (i.e. in April) and not when the financial year is ending
Choose an ELSS Mutual Fund carefully among the list of best ELSS Funds, and invest in the same for a year instead of jumping to other tax saving ELSS funds every year
Good ELSS returns can be achieved when invested for 5-7 years, so it is suggested not to pull out money once your lock-in ends after 3 years. Try holding it for a longer duration to earn better returns
If you are a risk-averse investor and want a less-volatile fund, consider investing in a large-cap Mutual Fund
How to Invest in ELSS Funds Online?
Open Free Investment Account for Lifetime at Fincash.com
Complete your Registration and KYC Process
Upload Documents (PAN, Aadhaar, etc.). And, You are Ready to Invest!
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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Nice article. Highly recommended for guys who are looking to save tax under section 80c.