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Best Tax Saving Mutual Funds Plans FY 19 - 20

Updated on November 12, 2019 , 251 views

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.

Tax-Savings

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 19 - 20

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

FundNAVNet Assets (Cr)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2018 (%)Since launch (%)
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹378.46
↑ 0.71
₹6,1616.72.57.48.87.70.519.7
Canara Robeco Equity Tax Saver Growth ₹67.36
↑ 0.09
₹96597.612.912.58.52.719.4
Axis Long Term Equity Fund Growth ₹49.0154
↑ 0.16
₹20,42511.315.619.915.8122.717.5
Mirae Asset Tax Saver Fund Growth ₹18.541
↑ 0.04
₹2,4659.110.314.415.8 -2.317.3
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 14 Nov 19
*Above is the list of Best elss Mutual Funds having Net Assets above 100 Crore sorted on annualized returns since launch / inception.

1. ICICI Prudential Long Term Equity Fund (Tax Saving)

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 CAGR/Annualized return of 19.7% since its launch.  Ranked 30 in ELSS category.  Return for 2018 was 0.5% , 2017 was 26% and 2016 was 3.9% .

Below is the key information for ICICI Prudential Long Term Equity Fund (Tax Saving)

ICICI Prudential Long Term Equity Fund (Tax Saving)
Growth
Launch Date 19 Aug 99
NAV (14 Nov 19) ₹378.46 ↑ 0.71   (0.19 %)
Net Assets (Cr) ₹6,161 on 30 Sep 19
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.39
Sharpe Ratio -0.1
Information Ratio -0.64
Alpha Ratio -2.22
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Oct 14₹10,000
31 Oct 15₹10,408
31 Oct 16₹11,897
31 Oct 17₹13,203
31 Oct 18₹13,411
31 Oct 19₹14,756

ICICI Prudential Long Term Equity Fund (Tax Saving) SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹367,070.
Net Profit of ₹67,070
Invest Now

Returns for ICICI Prudential Long Term Equity Fund (Tax Saving)

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Nov 19

DurationReturns
1 Month 5%
3 Month 6.7%
6 Month 2.5%
1 Year 7.4%
3 Year 8.8%
5 Year 7.7%
Since launch 19.7%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 0.5%
2017 26%
2016 3.9%
2015 4.3%
2014 50.8%
2013 10.2%
2012 37.6%
2011 -24%
2010 24.1%
2009 112%
Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
NameSinceTenure
Sankaran Naren5 Nov 180.32 Yr.
Priyanka Khandelwal15 Jun 171.71 Yr.
Harish Bihani5 Nov 180.32 Yr.

Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 30 Sep 19

Equity Sector Allocation
SectorValue
Financial Services26.18%
Health Care9%
Technology8.6%
Utility8.52%
Basic Materials8.44%
Consumer Cyclical7.82%
Industrials7.47%
Communication Services7.39%
Energy6.63%
Consumer Defensive5.63%
Real Estate0.27%
Asset Allocation
Asset ClassValue
Cash4.05%
Equity95.95%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
7%₹428 Cr34,990,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
6%₹389 Cr8,402,979
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
6%₹371 Cr9,907,191
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
5%₹341 Cr4,968,548
↑ 2,968,548
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
5%₹316 Cr12,253,608
Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 30 Nov 18 | 500312
4%₹283 Cr20,000,000
Treps
CBLO/Reverse Repo | -
4%₹278 Cr
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
4%₹274 Cr14,585,604
SBI Life Insurance Co Ltd (Financial Services)
Equity, Since 30 Sep 17 | 540719
4%₹254 Cr2,563,455
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
3%₹216 Cr6,906,964

2. Canara Robeco Equity Tax Saver

(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 CAGR/Annualized return of 19.4% since its launch.  Ranked 36 in ELSS category.  Return for 2018 was 2.7% , 2017 was 32% and 2016 was 0% .

Below is the key information for Canara Robeco Equity Tax Saver

Canara Robeco Equity Tax Saver
Growth
Launch Date 2 Feb 09
NAV (14 Nov 19) ₹67.36 ↑ 0.09   (0.13 %)
Net Assets (Cr) ₹965 on 30 Sep 19
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.59
Sharpe Ratio 0.36
Information Ratio -0.13
Alpha Ratio 2.46
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Oct 14₹10,000
31 Oct 15₹10,335
31 Oct 16₹11,248
31 Oct 17₹13,105
31 Oct 18₹13,330
31 Oct 19₹15,351

Canara Robeco Equity Tax Saver SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹376,357.
Net Profit of ₹76,357
Invest Now

Returns for Canara Robeco Equity Tax Saver

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Nov 19

DurationReturns
1 Month 3.9%
3 Month 9%
6 Month 7.6%
1 Year 12.9%
3 Year 12.5%
5 Year 8.5%
Since launch 19.4%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 2.7%
2017 32%
2016 0%
2015 0.6%
2014 45.2%
2013 5.3%
2012 30%
2011 -16.3%
2010 24.9%
2009
Fund Manager information for Canara Robeco Equity Tax Saver
NameSinceTenure
Shridatta Bhandwaldar1 Oct 190 Yr.
Cheenu Gupta12 Mar 181.55 Yr.

Data below for Canara Robeco Equity Tax Saver as on 30 Sep 19

Equity Sector Allocation
SectorValue
Financial Services35.26%
Consumer Defensive13.05%
Basic Materials11.81%
Technology11.03%
Industrials7.35%
Consumer Cyclical5.3%
Communication Services4.19%
Health Care4.06%
Utility2.87%
Asset Allocation
Asset ClassValue
Cash5.01%
Equity94.99%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
10%₹93 Cr754,684
↑ 38,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
6%₹60 Cr742,500
↑ 55,000
Treps
CBLO/Reverse Repo | -
6%₹58 Cr
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
5%₹52 Cr129,150
↑ 13,500
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Oct 16 | 500696
4%₹42 Cr213,830
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
4%₹41 Cr251,000
↑ 57,500
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Apr 19 | BHARTIARTL
4%₹40 Cr1,103,000
UltraTech Cement Ltd (Basic Materials)
Equity, Since 31 May 19 | ULTRACEMCO
4%₹39 Cr90,550
↓ -15,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
4%₹36 Cr821,000
↓ -316,000
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
4%₹34 Cr206,500
↑ 15,000

3. Axis Long Term Equity Fund

To generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Axis Long Term Equity Fund is a Equity - ELSS fund was launched on 29 Dec 09. It is a fund with Moderately High risk and has given a CAGR/Annualized return of 17.5% since its launch.  Ranked 20 in ELSS category.  Return for 2018 was 2.7% , 2017 was 37.4% and 2016 was -0.7% .

Below is the key information for Axis Long Term Equity Fund

Axis Long Term Equity Fund
Growth
Launch Date 29 Dec 09
NAV (14 Nov 19) ₹49.0154 ↑ 0.16   (0.32 %)
Net Assets (Cr) ₹20,425 on 30 Sep 19
Category Equity - ELSS
AMC Axis Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.49
Sharpe Ratio 0.64
Information Ratio 0.38
Alpha Ratio 6.97
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Oct 14₹10,000
31 Oct 15₹11,417
31 Oct 16₹12,443
31 Oct 17₹14,718
31 Oct 18₹14,796
31 Oct 19₹18,192

Axis Long Term Equity Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹405,518.
Net Profit of ₹105,518
Invest Now

Returns for Axis Long Term Equity Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Nov 19

DurationReturns
1 Month 5%
3 Month 11.3%
6 Month 15.6%
1 Year 19.9%
3 Year 15.8%
5 Year 12%
Since launch 17.5%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 2.7%
2017 37.4%
2016 -0.7%
2015 6.7%
2014 66.2%
2013 16.5%
2012 33.7%
2011 -14.8%
2010 30%
2009
Fund Manager information for Axis Long Term Equity Fund
NameSinceTenure
Jinesh Gopani1 Apr 117.84 Yr.

Data below for Axis Long Term Equity Fund as on 30 Sep 19

Equity Sector Allocation
SectorValue
Financial Services41.02%
Consumer Cyclical14.2%
Consumer Defensive11.21%
Technology7.96%
Basic Materials5.48%
Communication Services5.47%
Industrials5.23%
Utility3.35%
Health Care1.4%
Real Estate0%
Asset Allocation
Asset ClassValue
Cash5.05%
Equity94.95%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
10%₹1,948 Cr4,815,508
↓ -79,570
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 11 | KOTAKBANK
9%₹1,796 Cr10,922,075
↓ -177,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
8%₹1,571 Cr12,795,750
Pidilite Industries Ltd (Basic Materials)
Equity, Since 30 Nov 14 | PIDILITIND
8%₹1,533 Cr10,619,943
↑ 247,053
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
7%₹1,363 Cr7,325,645
↓ -2,875
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
6%₹1,303 Cr6,206,417
↓ -551,247
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFC
6%₹1,144 Cr5,786,662
↑ 413,899
GRUH Finance Ltd (Financial Services)
Equity, Since 31 May 11 | 511288
5%₹996 Cr36,971,961
↑ 370,062
Info Edge (India) Ltd (Technology)
Equity, Since 31 May 14 | NAUKRI
4%₹914 Cr4,524,049
↑ 50,682
Clearing Corporation Of India Ltd
CBLO | -
4%₹912 Cr

4. Mirae Asset Tax Saver Fund

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 CAGR/Annualized return of 17.3% since its launch.  Return for 2018 was -2.3% , 2017 was 47.9% and 2016 was 14.8% .

Below is the key information for Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund
Growth
Launch Date 28 Dec 15
NAV (14 Nov 19) ₹18.541 ↑ 0.04   (0.23 %)
Net Assets (Cr) ₹2,465 on 30 Sep 19
Category Equity - ELSS
AMC Mirae Asset Global Inv (India) Pvt. Ltd
Rating Not Rated
Risk Moderately High
Expense Ratio 2.45
Sharpe Ratio 0.51
Information Ratio 1.1
Alpha Ratio 4.22
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Oct 16₹12,391
31 Oct 17₹16,082
31 Oct 18₹15,863
31 Oct 19₹18,437

Mirae Asset Tax Saver Fund SIP Returns

   
My Monthly Investment:
Investment Tenure:
Years
Expected Annual Returns:
%
Total investment amount is ₹300,000
expected amount after 5 Years is ₹447,579.
Net Profit of ₹147,579
Invest Now

Returns for Mirae Asset Tax Saver Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 14 Nov 19

DurationReturns
1 Month 6.8%
3 Month 9.1%
6 Month 10.3%
1 Year 14.4%
3 Year 15.8%
5 Year
Since launch 17.3%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 -2.3%
2017 47.9%
2016 14.8%
2015
2014
2013
2012
2011
2010
2009
Fund Manager information for Mirae Asset Tax Saver Fund
NameSinceTenure
Neelesh Surana28 Dec 153.26 Yr.

Data below for Mirae Asset Tax Saver Fund as on 30 Sep 19

Equity Sector Allocation
SectorValue
Financial Services36.63%
Consumer Cyclical10.86%
Consumer Defensive9.75%
Health Care7.99%
Energy7.87%
Technology7.82%
Industrials6.5%
Basic Materials6.06%
Utility4.03%
Communication Services1.73%
Asset Allocation
Asset ClassValue
Cash0.74%
Equity99.26%
Other0%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
10%₹247 Cr2,009,876
↑ 167,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
6%₹156 Cr3,604,412
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 15 | RELIANCE
5%₹125 Cr939,876
↑ 80,000
State Bank of India (Financial Services)
Equity, Since 31 Dec 15 | SBIN
5%₹114 Cr4,198,799
↑ 823,026
ITC Ltd (Consumer Defensive)
Equity, Since 30 Apr 16 | ITC
4%₹106 Cr4,071,794
↑ 626,919
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 532215
4%₹98 Cr1,431,338
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 16 | LT
4%₹91 Cr617,880
↑ 85,000
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS
4%₹90 Cr427,179
↑ 48,204
IndusInd Bank Ltd (Financial Services)
Equity, Since 29 Feb 16 | INDUSINDBK
3%₹84 Cr607,689
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
3%₹80 Cr995,437
↑ 70,000

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Disclaimer:
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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