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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 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 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 Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2020 (%) Since launch (%) Canara Robeco Equity Tax Saver Growth ₹116.85
↓ -0.42 ₹2,680 13 25.8 69.1 24 18.8 27.4 21.5 HDFC Long Term Advantage Fund Growth ₹561.864
↑ 0.20 ₹1,363 12 25.7 72.9 18.3 15.8 11.5 21.5 ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹602.79
↑ 0.75 ₹9,825 15.4 26.4 76.8 18.2 14.5 13.6 20.4 BOI AXA Tax Advantage Fund Growth ₹102.79
↓ -0.26 ₹512 16.5 32.9 77.2 27.2 20 31.2 20.4 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Sep 21 100 Crore sorted on annualized returns since launch / inception.
1. Canara Robeco Equity Tax Saver
CAGR/Annualized return of 21.5% 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 (24 Sep 21) ₹116.85 ↓ -0.42 (-0.36 %) Net Assets (Cr) ₹2,680 on 31 Aug 21 Category Equity - ELSS AMC Canara Robeco Asset Management Co. Ltd. Rating ☆ Risk Moderately High Expense Ratio 2.26 Sharpe Ratio 4.02 Information Ratio 0.76 Alpha Ratio 18.29 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 16 ₹10,000 31 Aug 17 ₹11,443 31 Aug 18 ₹13,658 31 Aug 19 ₹12,673 31 Aug 20 ₹14,228 31 Aug 21 ₹23,269 Returns for Canara Robeco Equity Tax Saver
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Sep 21 Duration Returns 1 Month 6.4% 3 Month 13% 6 Month 25.8% 1 Year 69.1% 3 Year 24% 5 Year 18.8% Since launch 21.5% 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 Vishal Mishra 26 Jun 21 0.1 Yr. Shridatta Bhandwaldar 1 Oct 19 1.83 Yr. Data below for Canara Robeco Equity Tax Saver as on 31 Aug 21
Equity Sector Allocation
Sector Value Financial Services 31.49% Technology 16.23% Consumer Cyclical 12.85% Industrials 12.49% Basic Materials 8.61% Health Care 5.98% Consumer Defensive 4.32% Communication Services 2.24% Utility 1.98% Energy 1.74% Asset Allocation
Asset Class Value Cash 2.07% Equity 97.93% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY9% ₹222 Cr 1,376,310
↓ -30,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK8% ₹189 Cr 1,322,184
↑ 80,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK7% ₹171 Cr 2,506,000 Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Dec 20 | LT4% ₹109 Cr 680,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS4% ₹91 Cr 288,815 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 5000343% ₹82 Cr 132,450 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 20 | HDFC3% ₹73 Cr 297,500 State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN3% ₹69 Cr 1,600,000
↑ 100,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 5322153% ₹66 Cr 928,000 Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB2% ₹50 Cr 101,500
↑ 7,500 2. HDFC Long Term Advantage Fund
CAGR/Annualized return of 21.5% since its launch. Ranked 23 in ELSS category. Return for 2020 was 11.5% , 2019 was 10.1% and 2018 was -3.9% . HDFC Long Term Advantage Fund
Growth Launch Date 2 Jan 01 NAV (24 Sep 21) ₹561.864 ↑ 0.20 (0.03 %) Net Assets (Cr) ₹1,363 on 31 Aug 21 Category Equity - ELSS AMC HDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderately High Expense Ratio 2.25 Sharpe Ratio 2.51 Information Ratio -0.1 Alpha Ratio 8.34 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 16 ₹10,000 31 Aug 17 ₹11,926 31 Aug 18 ₹13,427 31 Aug 19 ₹12,682 31 Aug 20 ₹12,863 31 Aug 21 ₹20,367
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 24 Sep 21 Duration Returns 1 Month 6.3% 3 Month 12% 6 Month 25.7% 1 Year 72.9% 3 Year 18.3% 5 Year 15.8% Since launch 21.5% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2020 11.5% 2019 10.1% 2018 -3.9% 2017 36.2% 2016 13% 2015 -2.4% 2014 44.7% 2013 11% 2012 28.8% 2011 -23.5% Fund Manager information for HDFC Long Term Advantage Fund
Name Since Tenure Chirag Setalvad 2 Apr 07 14.34 Yr. Data below for HDFC Long Term Advantage Fund as on 31 Aug 21
Equity Sector Allocation
Sector Value Financial Services 35.68% Industrials 17.76% Technology 14.97% Energy 11.53% Consumer Defensive 4.5% Basic Materials 4.47% Health Care 2.8% Utility 2.61% Consumer Cyclical 2.35% Communication Services 2.21% Asset Allocation
Asset Class Value Cash 1.12% Equity 98.88% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK10% ₹130 Cr 1,900,000
↓ -100,000 Infosys Ltd (Technology)
Equity, Since 30 Nov 06 | INFY9% ₹121 Cr 750,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 13 | HDFCBANK9% ₹114 Cr 800,000 Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 Jul 05 | RELIANCE8% ₹106 Cr 520,000 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFC7% ₹98 Cr 400,000 Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Oct 07 | LT7% ₹97 Cr 607,500 State Bank of India (Financial Services)
Equity, Since 31 Jan 03 | SBIN7% ₹91 Cr 2,100,000 Carborundum Universal Ltd (Industrials)
Equity, Since 30 Jun 03 | 5133755% ₹68 Cr 1,010,413
↓ -16,354 Redington (India) Ltd (Technology)
Equity, Since 31 Jul 15 | 5328055% ₹64 Cr 1,951,513 ITC Ltd (Consumer Defensive)
Equity, Since 31 Oct 05 | ITC4% ₹58 Cr 2,822,910 3. ICICI Prudential Long Term Equity Fund (Tax Saving)
CAGR/Annualized return of 20.4% 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 (24 Sep 21) ₹602.79 ↑ 0.75 (0.12 %) Net Assets (Cr) ₹9,825 on 31 Aug 21 Category Equity - ELSS AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.98 Sharpe Ratio 2.71 Information Ratio -0.04 Alpha Ratio -2.88 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 16 ₹10,000 31 Aug 17 ₹10,657 31 Aug 18 ₹12,767 31 Aug 19 ₹11,663 31 Aug 20 ₹12,067 31 Aug 21 ₹19,130 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 24 Sep 21 Duration Returns 1 Month 7.8% 3 Month 15.4% 6 Month 26.4% 1 Year 76.8% 3 Year 18.2% 5 Year 14.5% Since launch 20.4% 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 4.13 Yr. Harish Bihani 5 Nov 18 2.74 Yr. Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 31 Aug 21
Equity Sector Allocation
Sector Value Financial Services 29.58% Technology 17.39% Consumer Defensive 8.38% Consumer Cyclical 7.88% Communication Services 6.98% Industrials 6.92% Basic Materials 6.06% Health Care 5.42% Energy 5.28% Utility 3.75% Real Estate 0.96% Asset Allocation
Asset Class Value Cash 1.39% Equity 98.61% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK7% ₹655 Cr 9,593,900 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL6% ₹549 Cr 9,781,565
↑ 616,839 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK6% ₹541 Cr 3,795,142
↑ 5,890 Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY6% ₹515 Cr 3,199,245
↓ -146,874 HCL Technologies Ltd Shs Dematerialised (Technology)
Equity, Since 31 May 19 | HCLTECH4% ₹344 Cr 3,355,220 Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 5322153% ₹292 Cr 4,117,894
↑ 190,266 Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 May 20 | RELIANCE3% ₹276 Cr 1,358,345 Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO3% ₹269 Cr 6,047,422 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC3% ₹266 Cr 1,089,047 State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN3% ₹244 Cr 5,655,786 4. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 20.4% 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 (24 Sep 21) ₹102.79 ↓ -0.26 (-0.25 %) Net Assets (Cr) ₹512 on 31 Aug 21 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.56 Sharpe Ratio 4.47 Information Ratio 0.69 Alpha Ratio 22.44 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Aug 16 ₹10,000 31 Aug 17 ₹12,118 31 Aug 18 ₹13,858 31 Aug 19 ₹11,934 31 Aug 20 ₹14,357 31 Aug 21 ₹24,318 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Sep 21 Duration Returns 1 Month 7.9% 3 Month 16.5% 6 Month 32.9% 1 Year 77.2% 3 Year 27.2% 5 Year 20% Since launch 20.4% 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 2.05 Yr. Data below for BOI AXA Tax Advantage Fund as on 31 Aug 21
Equity Sector Allocation
Sector Value Financial Services 23.77% Basic Materials 21.46% Technology 16.22% Health Care 14.72% Consumer Cyclical 9.84% Consumer Defensive 3.49% Communication Services 3.41% Industrials 3.22% Energy 1.75% Utility 1.49% Asset Allocation
Asset Class Value Cash 0.63% Equity 99.37% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK5% ₹25 Cr 361,176
↑ 30,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK4% ₹21 Cr 145,982
↓ -18,168 Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY4% ₹19 Cr 118,505 Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB4% ₹19 Cr 38,259 Laurus Labs Ltd (Healthcare)
Equity, Since 30 Jun 20 | 5402223% ₹15 Cr 236,350
↓ -30,000 PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND3% ₹15 Cr 51,325 Coforge Ltd Shs Dematerialised (Technology)
Equity, Since 31 Jul 20 | 5325413% ₹15 Cr 28,640
↑ 1,000 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 18 | 5000343% ₹14 Cr 22,229
↑ 2,780 Navin Fluorine International Ltd (Basic Materials)
Equity, Since 31 Jul 19 | 5325042% ₹12 Cr 31,892
↓ -1,100 Deepak Nitrite Ltd (Basic Materials)
Equity, Since 31 Aug 20 | 5064012% ₹11 Cr 54,523
↑ 2,200
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