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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 ₹92.42
↑ 0.83 ₹1,725 0.5 22.7 60.3 15.4 16 27.4 20 ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹474.28
↑ 6.42 ₹8,251 0.2 29.8 60.6 10.2 12.7 13.6 19.5 Mirae Asset Tax Saver Fund Growth ₹25.08
↑ 0.35 ₹6,351 3.2 27.8 73.7 15.5 20.4 21.5 19 BOI AXA Tax Advantage Fund Growth ₹78.24
↑ 0.56 ₹399 3.5 25 63.6 10.8 17 31.2 18.5 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 13 Apr 21 100 Crore sorted on annualized returns since launch / inception.
1. Canara Robeco Equity Tax Saver
CAGR/Annualized return of 20% 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 (13 Apr 21) ₹92.42 ↑ 0.83 (0.91 %) Net Assets (Cr) ₹1,725 on 28 Feb 21 Category Equity - ELSS AMC Canara Robeco Asset Management Co. Ltd. Rating ☆ Risk Moderately High Expense Ratio 2.32 Sharpe Ratio 0.99 Information Ratio 0.7 Alpha Ratio 3.71 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Mar 16 ₹10,000 31 Mar 17 ₹11,850 31 Mar 18 ₹13,400 31 Mar 19 ₹15,236 31 Mar 20 ₹12,618 31 Mar 21 ₹21,905 Returns for Canara Robeco Equity Tax Saver
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Apr 21 Duration Returns 1 Month -4.3% 3 Month 0.5% 6 Month 22.7% 1 Year 60.3% 3 Year 15.4% 5 Year 16% Since launch 20% 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 1.5 Yr. Cheenu Gupta 12 Mar 18 3.06 Yr. Data below for Canara Robeco Equity Tax Saver as on 28 Feb 21
Equity Sector Allocation
Sector Value Financial Services 31.77% Technology 18.31% Industrials 12.9% Consumer Cyclical 12.12% Basic Materials 10.76% Health Care 4.18% Consumer Defensive 3.44% Communication Services 2.84% Utility 1.02% Energy 0.41% Asset Allocation
Asset Class Value Cash 2.24% Equity 97.76% Top Securities Holdings / Portfolio
Name Holding Value Quantity Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY8% ₹163 Cr 1,191,310
↑ 116,810 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK7% ₹146 Cr 2,506,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK6% ₹115 Cr 767,184
↑ 75,000 State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN6% ₹108 Cr 2,975,000 Larsen & Toubro Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Dec 20 | LT5% ₹96 Cr 680,000 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 5000343% ₹68 Cr 132,450
↑ 7,500 Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | 5322153% ₹65 Cr 928,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Jun 20 | TCS3% ₹61 Cr 192,815
↑ 70,000 Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB2% ₹43 Cr 119,000
↑ 13,500 Voltas Ltd Shs Dematerialised (Industrials)
Equity, Since 31 Jul 20 | VOLTAS2% ₹42 Cr 420,000 2. ICICI Prudential Long Term Equity Fund (Tax Saving)
CAGR/Annualized return of 19.5% 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 (13 Apr 21) ₹474.28 ↑ 6.42 (1.37 %) Net Assets (Cr) ₹8,251 on 28 Feb 21 Category Equity - ELSS AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 2.01 Sharpe Ratio 0.86 Information Ratio -0.02 Alpha Ratio -1.01 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Mar 16 ₹10,000 31 Mar 17 ₹12,699 31 Mar 18 ₹13,608 31 Mar 19 ₹14,805 31 Mar 20 ₹10,756 31 Mar 21 ₹18,856 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 13 Apr 21 Duration Returns 1 Month -4.1% 3 Month 0.2% 6 Month 29.8% 1 Year 60.6% 3 Year 10.2% 5 Year 12.7% Since launch 19.5% 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 3.8 Yr. Harish Bihani 5 Nov 18 2.4 Yr. Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 28 Feb 21
Equity Sector Allocation
Sector Value Financial Services 31.11% Technology 14.61% Consumer Defensive 9.8% Communication Services 7.3% Industrials 6.52% Utility 6.21% Energy 6.15% Health Care 5.69% Basic Materials 5.26% Consumer Cyclical 4.9% Real Estate 0.93% Asset Allocation
Asset Class Value Cash 1.52% Equity 98.48% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK7% ₹581 Cr 3,789,252 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK7% ₹573 Cr 9,593,900 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL6% ₹510 Cr 9,164,726
↓ -657,670 Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY6% ₹497 Cr 3,964,428
↑ 107,777 NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 5325554% ₹297 Cr 27,637,925
↓ -1,976,719 Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 31 May 20 | RELIANCE3% ₹283 Cr 1,358,345
↑ 50,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 5322153% ₹277 Cr 3,827,628
↑ 357,018 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 20 | HDFC3% ₹277 Cr 1,089,047 HCL Technologies Ltd Shs Dematerialised (Technology)
Equity, Since 31 May 19 | HCLTECH3% ₹274 Cr 3,015,220
↑ 113,010 Hindalco Industries Ltd Shs Dematerialised (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO3% ₹213 Cr 6,268,531
↓ -2,510,888 3. Mirae Asset Tax Saver Fund
CAGR/Annualized return of 19% 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 (13 Apr 21) ₹25.08 ↑ 0.35 (1.43 %) Net Assets (Cr) ₹6,351 on 28 Feb 21 Category Equity - ELSS AMC Mirae Asset Global Inv (India) Pvt. Ltd Rating Risk Moderately High Expense Ratio 1.63 Sharpe Ratio 1.02 Information Ratio 1.12 Alpha Ratio 5.26 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Mar 16 ₹10,000 31 Mar 17 ₹13,829 31 Mar 18 ₹16,061 31 Mar 19 ₹18,098 31 Mar 20 ₹14,060 31 Mar 21 ₹26,154 Returns for Mirae Asset Tax Saver Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Apr 21 Duration Returns 1 Month -3.5% 3 Month 3.2% 6 Month 27.8% 1 Year 73.7% 3 Year 15.5% 5 Year 20.4% Since launch 19% 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 5.26 Yr. Data below for Mirae Asset Tax Saver Fund as on 28 Feb 21
Equity Sector Allocation
Sector Value Financial Services 38.67% Technology 11.42% Basic Materials 10.1% Consumer Cyclical 7.4% Health Care 7.18% Consumer Defensive 6.23% Industrials 6.18% Energy 4.42% Communication Services 3.26% Utility 1.84% Asset Allocation
Asset Class Value Cash 0.32% Equity 99.68% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK9% ₹593 Cr 3,864,722 Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY7% ₹448 Cr 3,571,693
↑ 365,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK7% ₹445 Cr 7,443,912
↑ 140,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 5322155% ₹296 Cr 4,086,266
↓ -80,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS4% ₹273 Cr 944,826
↑ 155,000 State Bank of India (Financial Services)
Equity, Since 31 Dec 15 | SBIN3% ₹197 Cr 5,053,799 Reliance Industries Limited
Equity, Since 30 Jun 20 | -3% ₹190 Cr 1,568,304
↓ -42,034 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 May 20 | BHARTIARTL3% ₹184 Cr 3,313,000
↓ -265,000 Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 31 Dec 15 | MARUTI3% ₹161 Cr 235,091
↑ 65,999 JK Cement Ltd (Basic Materials)
Equity, Since 30 Jun 19 | JKCEMENT2% ₹157 Cr 584,199 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 (13 Apr 21) ₹78.24 ↑ 0.56 (0.72 %) Net Assets (Cr) ₹399 on 28 Feb 21 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.67 Sharpe Ratio 1 Information Ratio 0.05 Alpha Ratio 2.82 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Mar 16 ₹10,000 31 Mar 17 ₹12,211 31 Mar 18 ₹15,601 31 Mar 19 ₹14,341 31 Mar 20 ₹12,887 31 Mar 21 ₹22,489 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 13 Apr 21 Duration Returns 1 Month -2.3% 3 Month 3.5% 6 Month 25% 1 Year 63.6% 3 Year 10.8% 5 Year 17% 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 1.72 Yr. Data below for BOI AXA Tax Advantage Fund as on 28 Feb 21
Equity Sector Allocation
Sector Value Financial Services 29.87% Basic Materials 17.62% Technology 14.56% Health Care 10.22% Consumer Cyclical 9.97% Industrials 4.63% Communication Services 3.92% Energy 3.48% Consumer Defensive 2.11% Utility 0.72% Asset Allocation
Asset Class Value Cash 2.91% Equity 97.09% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK7% ₹27 Cr 173,358
↑ 4,949 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK5% ₹19 Cr 320,694
↑ 68,381 Infosys Ltd (Technology)
Equity, Since 30 Jun 20 | INFY4% ₹16 Cr 129,655
↓ -3,093 Reliance Industries Ltd Shs Dematerialised (Energy)
Equity, Since 30 Nov 18 | RELIANCE3% ₹14 Cr 66,440
↓ -11,189 PI Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | PIIND3% ₹13 Cr 58,142
↓ -6,500 Divi's Laboratories Ltd (Healthcare)
Equity, Since 30 Sep 18 | DIVISLAB3% ₹12 Cr 35,659
↑ 1,040 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jan 18 | CHOLAFIN3% ₹12 Cr 223,507
↑ 22,736 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 19 | HDFC3% ₹11 Cr 42,848
↑ 5,037 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK3% ₹11 Cr 59,554
↑ 2,085 Laurus Labs Ltd (Healthcare)
Equity, Since 30 Jun 20 | 5402222% ₹10 Cr 278,350
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