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Best Tax Saving Mutual Funds Plans FY 21 - 22
Best tax saving Mutual Funds (ELSS) are funds that help people save a lot of money on Taxes along with earning Capital appreciation on their 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.
As tax saving Mutual Funds (or ELSS as it is commonly called) are market-linked investments, investors are suggested to carry out investments in these funds wisely so as to avert long-term losses and risks.
Benefits of Best Tax Saving Mutual Funds ELSS FY 21 - 22
Saving Under section 80C IT Act 1961
- ELSS Mutual Funds provide tax exemptions up to INR 1,50,000.
- The ELSS returns are much higher than the returns offered by other Tax Saving Investment options.
- Tax saving Mutual Funds or ELSS have the shortest lock-in period of 3 years, which is comparatively much less than other tax saving investments.
- The 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 Mutual Funds.
As the tax season approaches, people start making investments to save tax. Time and again it is said by financial advisors and fund houses that a SIP is one of the best ways to invest in tax saving Mutual Funds (ELSS) as it keeps your investment disciplined and balanced. However, as per reports, still barely 15% of the total investments in ELSS funds takes place through SIP and the remaining 85% is via lump sum. So, the investors are advised to invest in tax saving Mutual Funds (ELSS) via a SIP (Systematic Investment plan) as the fiscal year begins. Don’t wait, invest now!
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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 (%) 2020 (%) Since launch (%) Canara Robeco Equity Tax Saver Growth ₹90.59
↓ -1.32 ₹1,333 22.4 39.8 30.2 14.2 16.3 27.4 20.3 ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹467.74
↓ -5.64 ₹7,277 30.5 37.7 16.5 8.6 12.6 13.6 19.7 Mirae Asset Tax Saver Fund Growth ₹24.179
↓ -0.22 ₹5,044 25.8 40.9 23.9 11.4 20.4 21.5 19.1 BOI AXA Tax Advantage Fund Growth ₹75.01
↓ -0.87 ₹351 21.8 41.6 32.9 7.7 16.8 31.2 18.5 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 15 Jan 21 100 Crore sorted on annualized returns since launch / inception.
1. Canara Robeco Equity Tax Saver
CAGR/Annualized return of 20.3% since its launch. Ranked 36 in ELSS category. Return for 2020 was 27.4% , 2019 was 10.7% and 2018 was 2.7% . Canara Robeco Equity Tax Saver
Growth Launch Date 2 Feb 09 NAV (15 Jan 21) ₹90.59 ↓ -1.32 (-1.44 %) Net Assets (Cr) ₹1,333 on 30 Nov 20 Category Equity - ELSS AMC Canara Robeco Asset Management Co. Ltd. Rating ☆ Risk Moderately High Expense Ratio 2.32 Sharpe Ratio 0.6 Information Ratio 0.49 Alpha Ratio 9.5 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Dec 15 ₹10,000 31 Dec 16 ₹9,996 31 Dec 17 ₹13,191 31 Dec 18 ₹13,544 31 Dec 19 ₹14,999 31 Dec 20 ₹19,102 Returns for Canara Robeco Equity Tax Saver
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 15 Jan 21 Duration Returns 1 Month 8.2% 3 Month 22.4% 6 Month 39.8% 1 Year 30.2% 3 Year 14.2% 5 Year 16.3% Since launch 20.3% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2020 27.4% 2019 10.7% 2018 2.7% 2017 32% 2016 0% 2015 0.6% 2014 45.2% 2013 5.3% 2012 30% 2011 -16.3% Fund Manager information for Canara Robeco Equity Tax Saver
Name Since Tenure Shridatta Bhandwaldar 1 Oct 19 1.25 Yr. Cheenu Gupta 12 Mar 18 2.81 Yr. Data below for Canara Robeco Equity Tax Saver as on 30 Nov 20
Equity Sector Allocation
Sector Value Financial Services 32.65% Technology 21.24% Basic Materials 10.6% Consumer Cyclical 10.18% Industrials 9.54% Health Care 5.24% Energy 2.95% Communication Services 2.79% Consumer Defensive 1.99% Asset Allocation
Asset Class Value Cash 2.82% Equity 97.18% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY9% ₹135 Cr 1,074,500 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK9% ₹127 Cr 2,381,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK7% ₹99 Cr 692,184 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 5000344% ₹60 Cr 112,450
↓ -6,700 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Dec 20 | LT3% ₹48 Cr 375,000
↑ 375,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE3% ₹44 Cr 219,500
↓ -25,000 State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN3% ₹43 Cr 1,550,000
↑ 200,000 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 20 | HDFC3% ₹42 Cr 165,000
↑ 65,000 Asian Paints Ltd (Basic Materials)
Equity, Since 30 Sep 20 | 5008203% ₹37 Cr 135,200
↓ -74,800 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS3% ₹37 Cr 130,000
↓ -50,000 2. ICICI Prudential Long Term Equity Fund (Tax Saving)
CAGR/Annualized return of 19.7% since its launch. Ranked 30 in ELSS category. Return for 2020 was 13.6% , 2019 was 8.8% and 2018 was 0.5% . ICICI Prudential Long Term Equity Fund (Tax Saving)
Growth Launch Date 19 Aug 99 NAV (15 Jan 21) ₹467.74 ↓ -5.64 (-1.19 %) Net Assets (Cr) ₹7,277 on 30 Nov 20 Category Equity - ELSS AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 2.01 Sharpe Ratio 0.21 Information Ratio -0.18 Alpha Ratio -4.01 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Dec 15 ₹10,000 31 Dec 16 ₹10,392 31 Dec 17 ₹13,094 31 Dec 18 ₹13,160 31 Dec 19 ₹14,320 31 Dec 20 ₹16,268 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 15 Jan 21 Duration Returns 1 Month 7.8% 3 Month 30.5% 6 Month 37.7% 1 Year 16.5% 3 Year 8.6% 5 Year 12.6% Since launch 19.7% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 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% 2011 -24% Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
Name Since Tenure Priyanka Khandelwal 15 Jun 17 3.55 Yr. Harish Bihani 5 Nov 18 2.16 Yr. Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 30 Nov 20
Equity Sector Allocation
Sector Value Financial Services 29.99% Technology 15.63% Consumer Defensive 9.72% Communication Services 7.42% Industrials 6.76% Health Care 6.73% Utility 6.27% Energy 5.86% Basic Materials 5.35% Consumer Cyclical 3.88% Real Estate 0.67% 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 Jul 17 | HDFCBANK7% ₹544 Cr 3,789,252 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK7% ₹513 Cr 9,593,900 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL6% ₹501 Cr 9,822,396
↓ -63,086 Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY6% ₹484 Cr 3,856,651
↑ 273,120 NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 5325554% ₹294 Cr 29,614,644
↓ -5,185,072 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC4% ₹279 Cr 1,089,047 HCL Technologies Ltd (Technology)
Equity, Since 31 May 19 | HCLTECH3% ₹245 Cr 2,587,282
↑ 1,383,474 Reliance Industries Ltd (Energy)
Equity, Since 31 May 20 | RELIANCE3% ₹243 Cr 1,222,205 Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO3% ₹211 Cr 8,779,419
↓ -304,902 ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC3% ₹203 Cr 9,716,954
↓ -300,000 3. Mirae Asset Tax Saver Fund
CAGR/Annualized return of 19.1% since its launch. Return for 2020 was 21.5% , 2019 was 14.1% and 2018 was -2.3% . Mirae Asset Tax Saver Fund
Growth Launch Date 28 Dec 15 NAV (15 Jan 21) ₹24.179 ↓ -0.22 (-0.92 %) Net Assets (Cr) ₹5,044 on 30 Nov 20 Category Equity - ELSS AMC Mirae Asset Global Inv (India) Pvt. Ltd Rating Risk Moderately High Expense Ratio 1.63 Sharpe Ratio 0.44 Information Ratio 0.69 Alpha Ratio 5.12 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Dec 15 ₹10,000 31 Dec 16 ₹11,480 31 Dec 17 ₹16,977 31 Dec 18 ₹16,591 31 Dec 19 ₹18,925 31 Dec 20 ₹23,001 Returns for Mirae Asset Tax Saver Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 15 Jan 21 Duration Returns 1 Month 7.4% 3 Month 25.8% 6 Month 40.9% 1 Year 23.9% 3 Year 11.4% 5 Year 20.4% Since launch 19.1% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2020 21.5% 2019 14.1% 2018 -2.3% 2017 47.9% 2016 14.8% 2015 2014 2013 2012 2011 Fund Manager information for Mirae Asset Tax Saver Fund
Name Since Tenure Neelesh Surana 28 Dec 15 5.01 Yr. Data below for Mirae Asset Tax Saver Fund as on 30 Nov 20
Equity Sector Allocation
Sector Value Financial Services 38.7% Technology 11.23% Consumer Defensive 8.57% Basic Materials 8.04% Health Care 7.52% Consumer Cyclical 6.43% Industrials 5.42% Energy 4.68% Communication Services 3.5% Utility 1.66% Asset Allocation
Asset Class Value Cash 0.97% Equity 99.02% Other 0.01% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK10% ₹533 Cr 3,710,722
↑ 80,000 Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY7% ₹390 Cr 3,106,693
↓ -10,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK7% ₹381 Cr 7,123,912
↑ 187,500 Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 5322155% ₹258 Cr 4,166,266
↑ 445,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS4% ₹220 Cr 768,179 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL3% ₹191 Cr 3,748,000 Reliance Industries Limited
Equity, Since 30 Jun 20 | -3% ₹180 Cr 1,610,338 Dr Reddy's Laboratories Ltd (Healthcare)
Equity, Since 28 Feb 19 | 5001243% ₹155 Cr 298,090 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Apr 17 | HDFC3% ₹155 Cr 606,263 Max Financial Services Ltd (Financial Services)
Equity, Since 31 Mar 18 | 5002713% ₹145 Cr 2,151,203 4. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 18.5% since its launch. Ranked 13 in ELSS category. Return for 2020 was 31.2% , 2019 was 14.6% and 2018 was -16.3% . BOI AXA Tax Advantage Fund
Growth Launch Date 25 Feb 09 NAV (15 Jan 21) ₹75.01 ↓ -0.87 (-1.15 %) Net Assets (Cr) ₹351 on 30 Nov 20 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.67 Sharpe Ratio 0.76 Information Ratio 0.04 Alpha Ratio 13.11 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Dec 15 ₹10,000 31 Dec 16 ₹9,876 31 Dec 17 ₹15,571 31 Dec 18 ₹13,026 31 Dec 19 ₹14,929 31 Dec 20 ₹19,586 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 15 Jan 21 Duration Returns 1 Month 6.6% 3 Month 21.8% 6 Month 41.6% 1 Year 32.9% 3 Year 7.7% 5 Year 16.8% Since launch 18.5% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 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% 2011 -24.1% Fund Manager information for BOI AXA Tax Advantage Fund
Name Since Tenure Aakash Manghani 15 Jul 19 1.47 Yr. Data below for BOI AXA Tax Advantage Fund as on 30 Nov 20
Equity Sector Allocation
Sector Value Financial Services 26.76% Basic Materials 17.76% Technology 14.68% Health Care 13.92% Consumer Cyclical 9.4% Energy 4.97% Industrials 4.29% Consumer Defensive 3.2% Communication Services 2.42% Asset Allocation
Asset Class Value Cash 2.07% Equity 97.93% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK7% ₹25 Cr 172,460 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE5% ₹19 Cr 93,975
↑ 879 Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY4% ₹16 Cr 124,274
↑ 7,367 PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND4% ₹15 Cr 66,804
↓ -1,518 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK4% ₹14 Cr 260,895
↓ -14,164 Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB4% ₹13 Cr 34,619 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK3% ₹12 Cr 62,062
↓ -9,806 SRF Ltd (Basic Materials)
Equity, Since 30 Sep 19 | SRF3% ₹10 Cr 18,641
↓ -333 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 19 | HDFC3% ₹10 Cr 39,634 Navin Fluorine International Ltd (Basic Materials)
Equity, Since 31 Jul 19 | 5325043% ₹10 Cr 37,433
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