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4 Best Tax Saving ELSS Mutual Funds FY 22 - 23
ELSS (Equity Linked Saving Scheme) is one of the best tax-saving options that help you save a lot of money on income tax along with earning Capital appreciation on investments.
Tax Saving ELSS funds allow tax exemptions up to INR 1,50,000 under Section 80C of the Income Tax Act. Therefore, by Investing in these tax saving Mutual Funds, even the investors in the highest tax bracket of 30% can avail tax exemptions of around INR 46,000 for a particular financial year along with earning good returns.
ELSS are Market-linked investments, you are suggested to carry out investments in these funds wisely so as to avert long-term losses and risks.
Benefits of Investing in ELSS Funds FY 22 - 23
- ELSS mutual funds provide tax exemptions up to INR 1,50,000.
- The returns are much higher than the returns offered by other Tax Saving Investment options.
- ELSS have the shortest lock-in period of 3 years, which is comparatively much less than other tax saving investments.
- ELSS funds offer an option to invest via SIP, so the investors can easily manage their ELSS investment by investing small amounts monthly.
All the above-mentioned factors make ELSS one of the best tax saving options.
If you are planning to invest, then SIP (Systematic Investment plan) is one of the Best ways to invest money in ELSS. The regular investment habit keeps your portfolio disciplined and balanced. Also, the hassle of arranging money for a lump sum at the last moment of the tax calendar is eliminated. In SIP, you can fix the investment amount, which can be as low as Rs. 500, and a date where your money will be auto-deducted from your Bank account to ELSS funds.
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Top 4 Best performing Tax Saving ELSS Mutual Funds
(ELSS Scheme) Seeking to provide long term capital appreciation by predominantly investing in equities and to facilitate the subscribers to seek tax benefits as provided under Section 80 C of the Income Tax Act, 1961. However, there can be no assurance that the investment objective of
the scheme will be realized. Canara Robeco Equity Tax Saver is a Equity - ELSS fund was launched on 2 Feb 09. It is a fund with Moderately High risk and has given a Below is the key information for Canara Robeco Equity Tax Saver Returns up to 1 year are on To generate long-term capital appreciation through investments made primarily in equity and equity related securities of companies. ICICI Prudential Long Term Equity Fund (Tax Saving) is a Equity - ELSS fund was launched on 19 Aug 99. It is a fund with Moderately High risk and has given a Below is the key information for ICICI Prudential Long Term Equity Fund (Tax Saving) 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 of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised. IDFC Tax Advantage (ELSS) Fund is a Equity - ELSS fund was launched on 26 Dec 08. It is a fund with Moderately High risk and has given a Below is the key information for IDFC Tax Advantage (ELSS) Fund Returns up to 1 year are on Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2021 (%) Since launch (%) Canara Robeco Equity Tax Saver Growth ₹115.67
↑ 2.49 ₹4,197 11.8 -0.5 -0.3 22.1 15.7 35.1 19.6 ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹591.04
↑ 9.37 ₹10,146 9.6 -3.1 -1.6 18.5 12.5 33.7 19.3 BOI AXA Tax Advantage Fund Growth ₹98.98
↑ 2.10 ₹645 14.1 -0.3 -3.1 24.7 14.3 41.5 18.4 IDFC Tax Advantage (ELSS) Fund Growth ₹98.71
↑ 1.80 ₹3,851 12 -1.5 3 24.2 13 49.2 18.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 4 Oct 22 100 Crore sorted on annualized returns since launch / inception.
1. Canara Robeco Equity Tax Saver
CAGR/Annualized return of 19.6% since its launch. Ranked 36 in ELSS category. Return for 2021 was 35.1% , 2020 was 27.4% and 2019 was 10.7% . Canara Robeco Equity Tax Saver
Growth Launch Date 2 Feb 09 NAV (04 Oct 22) ₹115.67 ↑ 2.49 (2.20 %) Net Assets (Cr) ₹4,197 on 31 Aug 22 Category Equity - ELSS AMC Canara Robeco Asset Management Co. Ltd. Rating ☆ Risk Moderately High Expense Ratio 2.11 Sharpe Ratio 0.02 Information Ratio 0.39 Alpha Ratio -3.3 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Sep 17 ₹10,000 30 Sep 18 ₹10,944 30 Sep 19 ₹11,822 30 Sep 20 ₹13,071 30 Sep 21 ₹20,814 30 Sep 22 ₹20,686 Returns for Canara Robeco Equity Tax Saver
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Oct 22 Duration Returns 1 Month -1.1% 3 Month 11.8% 6 Month -0.5% 1 Year -0.3% 3 Year 22.1% 5 Year 15.7% Since launch 19.6% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2021 35.1% 2020 27.4% 2019 10.7% 2018 2.7% 2017 32% 2016 0% 2015 0.6% 2014 45.2% 2013 5.3% 2012 30% Fund Manager information for Canara Robeco Equity Tax Saver
Name Since Tenure Vishal Mishra 26 Jun 21 1.18 Yr. Shridatta Bhandwaldar 1 Oct 19 2.92 Yr. Data below for Canara Robeco Equity Tax Saver as on 31 Aug 22
Equity Sector Allocation
Sector Value Financial Services 30.83% Consumer Cyclical 17.28% Technology 9.3% Industrials 8.9% Basic Materials 8.42% Health Care 6.19% Consumer Defensive 5.5% Energy 4.39% Communication Services 2.19% Real Estate 1.73% Utility 1.44% Asset Allocation
Asset Class Value Cash 3.82% Equity 96.18% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK8% ₹349 Cr 3,936,000
↑ 40,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK7% ₹278 Cr 1,872,184 Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY6% ₹253 Cr 1,691,310
↑ 20,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE4% ₹184 Cr 698,500 State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN4% ₹150 Cr 2,830,000
↑ 190,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 5322153% ₹143 Cr 1,903,000
↑ 120,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS2% ₹104 Cr 323,712 Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 31 Oct 21 | MARUTI2% ₹101 Cr 111,500
↑ 2,500 ABB India Ltd (Industrials)
Equity, Since 31 Jan 21 | 5000022% ₹101 Cr 310,000
↓ -27,500 Schaeffler India Ltd (Consumer Cyclical)
Equity, Since 28 Feb 22 | SCHAEFFLER2% ₹100 Cr 330,381 2. ICICI Prudential Long Term Equity Fund (Tax Saving)
CAGR/Annualized return of 19.3% since its launch. Ranked 30 in ELSS category. Return for 2021 was 33.7% , 2020 was 13.6% and 2019 was 8.8% . ICICI Prudential Long Term Equity Fund (Tax Saving)
Growth Launch Date 19 Aug 99 NAV (04 Oct 22) ₹591.04 ↑ 9.37 (1.61 %) Net Assets (Cr) ₹10,146 on 31 Aug 22 Category Equity - ELSS AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.88 Sharpe Ratio 0.01 Information Ratio -0.4 Alpha Ratio -3.06 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Sep 17 ₹10,000 30 Sep 18 ₹11,083 30 Sep 19 ₹11,239 30 Sep 20 ₹10,926 30 Sep 21 ₹18,427 30 Sep 22 ₹18,148 Returns for ICICI Prudential Long Term Equity Fund (Tax Saving)
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Oct 22 Duration Returns 1 Month -0.6% 3 Month 9.6% 6 Month -3.1% 1 Year -1.6% 3 Year 18.5% 5 Year 12.5% Since launch 19.3% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2021 33.7% 2020 13.6% 2019 8.8% 2018 0.5% 2017 26% 2016 3.9% 2015 4.3% 2014 50.8% 2013 10.2% 2012 37.6% Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
Name Since Tenure Priyanka Khandelwal 15 Jun 17 5.21 Yr. Harish Bihani 5 Nov 18 3.82 Yr. Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 31 Aug 22
Equity Sector Allocation
Sector Value Financial Services 34.9% Technology 15.6% Consumer Cyclical 7.79% Industrials 7.74% Communication Services 6.62% Consumer Defensive 5.47% Energy 4.72% Health Care 3.41% Basic Materials 3.07% Real Estate 1.82% Utility 0.8% Asset Allocation
Asset Class Value Cash 8.06% Equity 91.94% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK9% ₹937 Cr 10,560,479
↓ -389,633 Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY6% ₹578 Cr 3,868,993
↓ -120,440 Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 5322155% ₹521 Cr 6,931,488
↓ -100,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL5% ₹481 Cr 6,626,040 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK4% ₹440 Cr 2,961,891
↓ -50,000 SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Mar 21 | 5430664% ₹431 Cr 4,671,369 HCL Technologies Ltd (Technology)
Equity, Since 31 May 19 | HCLTECH4% ₹418 Cr 4,455,215
↓ -191,080 Reliance Industries Ltd (Energy)
Equity, Since 31 May 20 | RELIANCE4% ₹393 Cr 1,488,761 Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 29 Feb 20 | 5403763% ₹339 Cr 748,565 State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN3% ₹284 Cr 5,341,557 3. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 18.4% since its launch. Ranked 13 in ELSS category. Return for 2021 was 41.5% , 2020 was 31.2% and 2019 was 14.6% . BOI AXA Tax Advantage Fund
Growth Launch Date 25 Feb 09 NAV (04 Oct 22) ₹98.98 ↑ 2.10 (2.17 %) Net Assets (Cr) ₹645 on 31 Aug 22 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.56 Sharpe Ratio -0.21 Information Ratio 0.68 Alpha Ratio -7.28 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Sep 17 ₹10,000 30 Sep 18 ₹9,611 30 Sep 19 ₹10,457 30 Sep 20 ₹12,154 30 Sep 21 ₹20,152 30 Sep 22 ₹19,635 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Oct 22 Duration Returns 1 Month 0.1% 3 Month 14.1% 6 Month -0.3% 1 Year -3.1% 3 Year 24.7% 5 Year 14.3% Since launch 18.4% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2021 41.5% 2020 31.2% 2019 14.6% 2018 -16.3% 2017 57.7% 2016 -1.2% 2015 2.1% 2014 44% 2013 9.1% 2012 24.8% Fund Manager information for BOI AXA Tax Advantage Fund
Name Since Tenure Alok Singh 27 Apr 22 0.35 Yr. Data below for BOI AXA Tax Advantage Fund as on 31 Aug 22
Equity Sector Allocation
Sector Value Financial Services 32.19% Consumer Cyclical 19.21% Basic Materials 10.48% Consumer Defensive 8.2% Industrials 7.53% Health Care 5.97% Energy 3.72% Technology 3.69% Utility 3.2% Real Estate 2.23% Communication Services 0.72% Asset Allocation
Asset Class Value Cash 2.86% Equity 97.14% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK7% ₹47 Cr 529,340 State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN6% ₹36 Cr 671,000
↑ 51,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK5% ₹32 Cr 214,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE4% ₹24 Cr 91,009
↓ -6,000 NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 5325553% ₹21 Cr 1,260,000
↑ 282,141 Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 May 22 | M&M3% ₹19 Cr 142,000
↑ 17,000 Varun Beverages Ltd (Consumer Defensive)
Equity, Since 28 Feb 22 | VBL3% ₹17 Cr 168,692 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK3% ₹17 Cr 87,607 Schaeffler India Ltd (Consumer Cyclical)
Equity, Since 31 Jan 22 | SCHAEFFLER3% ₹17 Cr 55,000
↑ 4,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | 5322152% ₹15 Cr 204,000
↑ 41,972 4. IDFC Tax Advantage (ELSS) Fund
CAGR/Annualized return of 18.1% since its launch. Ranked 3 in ELSS category. Return for 2021 was 49.2% , 2020 was 18.7% and 2019 was 1.9% . IDFC Tax Advantage (ELSS) Fund
Growth Launch Date 26 Dec 08 NAV (04 Oct 22) ₹98.71 ↑ 1.80 (1.86 %) Net Assets (Cr) ₹3,851 on 31 Aug 22 Category Equity - ELSS AMC IDFC Asset Management Company Limited Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 1.95 Sharpe Ratio 0.4 Information Ratio 0.55 Alpha Ratio 2.67 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Sep 17 ₹10,000 30 Sep 18 ₹10,161 30 Sep 19 ₹10,044 30 Sep 20 ₹10,138 30 Sep 21 ₹17,831 30 Sep 22 ₹18,431 Returns for IDFC Tax Advantage (ELSS) Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Oct 22 Duration Returns 1 Month -0.1% 3 Month 12% 6 Month -1.5% 1 Year 3% 3 Year 24.2% 5 Year 13% Since launch 18.1% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2021 49.2% 2020 18.7% 2019 1.9% 2018 -9.4% 2017 53.4% 2016 0.4% 2015 6.9% 2014 42.2% 2013 15% 2012 36.2% Fund Manager information for IDFC Tax Advantage (ELSS) Fund
Name Since Tenure Daylynn Pinto 20 Oct 16 5.87 Yr. Data below for IDFC Tax Advantage (ELSS) Fund as on 31 Aug 22
Equity Sector Allocation
Sector Value Financial Services 27.54% Consumer Cyclical 17.61% Industrials 12.1% Basic Materials 10.14% Technology 9.49% Health Care 7.23% Energy 3.77% Consumer Defensive 3.26% Communication Services 2.64% Asset Allocation
Asset Class Value Cash 6.23% Equity 93.77% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK9% ₹337 Cr 3,800,000 Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY5% ₹209 Cr 1,400,000 State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN5% ₹186 Cr 3,500,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK4% ₹156 Cr 1,050,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE4% ₹145 Cr 550,000 Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS3% ₹122 Cr 2,600,000
↓ -100,000 Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Jul 20 | M&M3% ₹118 Cr 900,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL3% ₹102 Cr 1,400,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | 5322153% ₹101 Cr 1,350,000 VRL Logistics Ltd (Industrials)
Equity, Since 30 Nov 15 | VRLLOG2% ₹92 Cr 1,475,000
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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