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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 investment objective of the scheme is to generate long term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. The Scheme does not guarantee or assure any returns. Mirae Asset Tax Saver Fund is a Equity - ELSS fund was launched on 28 Dec 15. It is a fund with Moderately High risk and has given a Below is the key information for Mirae Asset Tax Saver 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 Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2021 (%) Since launch (%) Canara Robeco Equity Tax Saver Growth ₹104.7
↑ 2.35 ₹3,586 -8.5 -13 8.3 18.2 13.9 35.1 19.3 ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹548.13
↑ 12.64 ₹10,049 -6.4 -11.1 11.4 13.8 10.6 33.7 19.2 Mirae Asset Tax Saver Fund Growth ₹28.755
↑ 0.64 ₹11,790 -5.9 -10.8 9.7 19 14.7 35.3 18 BOI AXA Tax Advantage Fund Growth ₹88.96
↑ 1.88 ₹593 -7.3 -14.5 8.5 21.9 14.4 41.5 18 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 17 May 22 100 Crore sorted on annualized returns since launch / inception.
1. Canara Robeco Equity Tax Saver
CAGR/Annualized return of 19.3% 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 (17 May 22) ₹104.7 ↑ 2.35 (2.30 %) Net Assets (Cr) ₹3,586 on 31 Mar 22 Category Equity - ELSS AMC Canara Robeco Asset Management Co. Ltd. Rating ☆ Risk Moderately High Expense Ratio 2.26 Sharpe Ratio 1.39 Information Ratio 0.45 Alpha Ratio -0.08 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Apr 17 ₹10,000 30 Apr 18 ₹11,464 30 Apr 19 ₹12,292 30 Apr 20 ₹11,466 30 Apr 21 ₹17,756 30 Apr 22 ₹20,804 Returns for Canara Robeco Equity Tax Saver
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 17 May 22 Duration Returns 1 Month -7.8% 3 Month -8.5% 6 Month -13% 1 Year 8.3% 3 Year 18.2% 5 Year 13.9% Since launch 19.3% 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 0.84 Yr. Shridatta Bhandwaldar 1 Oct 19 2.58 Yr. Data below for Canara Robeco Equity Tax Saver as on 31 Mar 22
Equity Sector Allocation
Sector Value Financial Services 28.63% Consumer Cyclical 12.61% Technology 12.17% Industrials 9.14% Basic Materials 8.63% Consumer Defensive 7.03% Energy 6.95% Health Care 6.66% Communication Services 2.37% Utility 1.56% Real Estate 1.47% Asset Allocation
Asset Class Value Cash 2.77% Equity 97.23% Top Securities Holdings / Portfolio
Name Holding Value Quantity Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE7% ₹252 Cr 903,500
↑ 185,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK7% ₹248 Cr 3,336,000
↑ 50,000 Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY7% ₹246 Cr 1,571,310
↓ -50,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK6% ₹231 Cr 1,667,184 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS3% ₹115 Cr 323,712
↓ -10,000 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | BAJFINANCE3% ₹114 Cr 170,450 State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN3% ₹105 Cr 2,125,000
↑ 425,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | AXISBANK3% ₹99 Cr 1,353,000
↑ 435,000 UltraTech Cement Ltd (Basic Materials)
Equity, Since 30 Apr 21 | ULTRACEMCO2% ₹89 Cr 133,500
↑ 5,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 21 | BHARTIARTL2% ₹86 Cr 1,165,000 2. ICICI Prudential Long Term Equity Fund (Tax Saving)
CAGR/Annualized return of 19.2% 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 (17 May 22) ₹548.13 ↑ 12.64 (2.36 %) Net Assets (Cr) ₹10,049 on 31 Mar 22 Category Equity - ELSS AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.98 Sharpe Ratio 1.53 Information Ratio -0.14 Alpha Ratio 1.01 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Apr 17 ₹10,000 30 Apr 18 ₹11,133 30 Apr 19 ₹11,700 30 Apr 20 ₹9,669 30 Apr 21 ₹14,755 30 Apr 22 ₹17,712 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 17 May 22 Duration Returns 1 Month -8% 3 Month -6.4% 6 Month -11.1% 1 Year 11.4% 3 Year 13.8% 5 Year 10.6% Since launch 19.2% 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 4.88 Yr. Harish Bihani 5 Nov 18 3.49 Yr. Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 31 Mar 22
Equity Sector Allocation
Sector Value Financial Services 32.5% Technology 19.08% Industrials 8.37% Consumer Cyclical 7.71% Communication Services 7.06% Consumer Defensive 4.84% Basic Materials 4.65% Health Care 4.44% Energy 3.98% Real Estate 1.4% Utility 0.94% Asset Allocation
Asset Class Value Cash 5.03% Equity 94.97% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK7% ₹701 Cr 9,593,900 Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY7% ₹668 Cr 3,503,778
↓ -164,359 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK6% ₹558 Cr 3,795,142 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL5% ₹509 Cr 6,739,359
↓ -455,942 HCL Technologies Ltd (Technology)
Equity, Since 31 May 19 | HCLTECH5% ₹467 Cr 4,015,432 Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 5322154% ₹444 Cr 5,835,718
↑ 212,057 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC3% ₹336 Cr 1,405,320
↑ 100,525 Tech Mahindra Ltd (Technology)
Equity, Since 31 Aug 20 | 5327553% ₹320 Cr 2,137,202 Reliance Industries Ltd (Energy)
Equity, Since 31 May 20 | RELIANCE3% ₹305 Cr 1,158,345
↓ -200,000 SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Mar 21 | 5430663% ₹304 Cr 3,565,873
↑ 119,192 3. Mirae Asset Tax Saver Fund
CAGR/Annualized return of 18% since its launch. Return for 2021 was 35.3% , 2020 was 21.5% and 2019 was 14.1% . Mirae Asset Tax Saver Fund
Growth Launch Date 28 Dec 15 NAV (17 May 22) ₹28.755 ↑ 0.64 (2.28 %) Net Assets (Cr) ₹11,790 on 31 Mar 22 Category Equity - ELSS AMC Mirae Asset Global Inv (India) Pvt. Ltd Rating Risk Moderately High Expense Ratio 1.4 Sharpe Ratio 1.38 Information Ratio 1.21 Alpha Ratio -1.07 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Apr 17 ₹10,000 30 Apr 18 ₹11,900 30 Apr 19 ₹12,653 30 Apr 20 ₹11,285 30 Apr 21 ₹18,256 30 Apr 22 ₹21,619 Returns for Mirae Asset Tax Saver Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 17 May 22 Duration Returns 1 Month -7.5% 3 Month -5.9% 6 Month -10.8% 1 Year 9.7% 3 Year 19% 5 Year 14.7% Since launch 18% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2021 35.3% 2020 21.5% 2019 14.1% 2018 -2.3% 2017 47.9% 2016 14.8% 2015 2014 2013 2012 Fund Manager information for Mirae Asset Tax Saver Fund
Name Since Tenure Neelesh Surana 28 Dec 15 6.35 Yr. Data below for Mirae Asset Tax Saver Fund as on 31 Mar 22
Equity Sector Allocation
Sector Value Financial Services 34.47% Technology 13.7% Basic Materials 9.06% Industrials 8.15% Consumer Cyclical 8.09% Energy 7.6% Health Care 7.25% Consumer Defensive 5.77% Utility 2.81% Communication Services 1.84% Asset Allocation
Asset Class Value Cash 1.26% Equity 98.74% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY8% ₹889 Cr 4,661,691
↓ -60,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK7% ₹842 Cr 5,729,722 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK7% ₹784 Cr 10,733,912
↑ 25,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 15 | RELIANCE6% ₹744 Cr 2,824,180
↑ 40,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 5322154% ₹501 Cr 6,586,266 State Bank of India (Financial Services)
Equity, Since 31 Dec 15 | SBIN4% ₹414 Cr 8,383,799
↓ -50,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS3% ₹324 Cr 865,537
↓ -59,289 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 16 | LT3% ₹297 Cr 1,677,630
↑ 180,000 Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 31 Dec 15 | SUNPHARMA2% ₹282 Cr 3,082,209 HCL Technologies Ltd (Technology)
Equity, Since 31 Oct 21 | HCLTECH2% ₹253 Cr 2,177,500 4. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 18% 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 (17 May 22) ₹88.96 ↑ 1.88 (2.16 %) Net Assets (Cr) ₹593 on 31 Mar 22 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.56 Sharpe Ratio 1.49 Information Ratio 0.99 Alpha Ratio 5.02 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Apr 17 ₹10,000 30 Apr 18 ₹13,257 30 Apr 19 ₹11,300 30 Apr 20 ₹11,490 30 Apr 21 ₹18,481 30 Apr 22 ₹21,652 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 17 May 22 Duration Returns 1 Month -9.3% 3 Month -7.3% 6 Month -14.5% 1 Year 8.5% 3 Year 21.9% 5 Year 14.4% Since launch 18% 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 Aakash Manghani 15 Jul 19 2.8 Yr. Alok Singh 27 Apr 22 0.01 Yr. Data below for BOI AXA Tax Advantage Fund as on 31 Mar 22
Equity Sector Allocation
Sector Value Financial Services 31.31% Technology 13.96% Consumer Cyclical 13.9% Basic Materials 12.71% Health Care 7.42% Industrials 6.93% Consumer Defensive 3.58% Energy 3.31% Communication Services 2.66% Real Estate 1.01% Asset Allocation
Asset Class Value Cash 3.12% Equity 96.79% Debt 0.09% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK6% ₹39 Cr 519,840
↑ 46,659 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK5% ₹28 Cr 202,169
↓ -8,457 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE4% ₹25 Cr 87,880
↑ 13,500 Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY4% ₹24 Cr 155,489
↓ -4,381 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 18 | BAJFINANCE3% ₹19 Cr 28,188
↓ -4,398 State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN3% ₹16 Cr 330,426
↑ 56,427 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jan 18 | CHOLAFIN3% ₹16 Cr 212,404 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK2% ₹13 Cr 75,364
↓ -4,000 Varun Beverages Ltd (Consumer Defensive)
Equity, Since 28 Feb 22 | VBL2% ₹11 Cr 104,928
↑ 26,533 Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | AXISBANK2% ₹11 Cr 154,028
↑ 9,000
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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