Table of Contents
4 Best Tax Saving ELSS Mutual Funds FY 23 - 24
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 23 - 24
- 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.
Talk to our investment specialist
How to Invest in ELSS Funds Online?
Open Free Investment Account for Lifetime at Fincash.com.
Complete your Registration and KYC Process
Upload Documents (PAN, Aadhaar, etc.). And, You are Ready to Invest!
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 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 The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised. IDFC Tax Advantage (ELSS) Fund is a Equity - ELSS fund was launched on 26 Dec 08. It is a fund with Moderately High risk and has given a Below is the key information for IDFC Tax Advantage (ELSS) Fund Returns up to 1 year are on Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) Since launch (%) Canara Robeco Equity Tax Saver Growth ₹122.98
↑ 1.01 ₹5,206 7 2.1 16.7 25.6 15.4 -0.2 19.1 ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹635.23
↑ 4.01 ₹10,162 7.6 1.8 15.4 24.1 12.4 2.3 19.1 BOI AXA Tax Advantage Fund Growth ₹106.44
↑ 1.01 ₹739 7.3 2.7 19.9 27.7 14 -1.3 18 IDFC Tax Advantage (ELSS) Fund Growth ₹108.94
↑ 0.50 ₹4,333 9 5.3 19.6 34.1 13.7 4.2 18 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 7 Jun 23 100 Crore sorted on annualized returns since launch / inception.
1. Canara Robeco Equity Tax Saver
CAGR/Annualized return of 19.1% since its launch. Ranked 36 in ELSS category. Return for 2022 was -0.2% , 2021 was 35.1% and 2020 was 27.4% . Canara Robeco Equity Tax Saver
Growth Launch Date 2 Feb 09 NAV (07 Jun 23) ₹122.98 ↑ 1.01 (0.83 %) Net Assets (Cr) ₹5,206 on 30 Apr 23 Category Equity - ELSS AMC Canara Robeco Asset Management Co. Ltd. Rating ☆ Risk Moderately High Expense Ratio 2.11 Sharpe Ratio 0.02 Information Ratio -0.28 Alpha Ratio 0.69 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 18 ₹10,000 31 May 19 ₹11,233 31 May 20 ₹9,909 31 May 21 ₹16,768 31 May 22 ₹17,783 31 May 23 ₹20,096 Returns for Canara Robeco Equity Tax Saver
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Jun 23 Duration Returns 1 Month 4.9% 3 Month 7% 6 Month 2.1% 1 Year 16.7% 3 Year 25.6% 5 Year 15.4% Since launch 19.1% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2022 -0.2% 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% Fund Manager information for Canara Robeco Equity Tax Saver
Name Since Tenure Vishal Mishra 26 Jun 21 1.84 Yr. Shridatta Bhandwaldar 1 Oct 19 3.58 Yr. Data below for Canara Robeco Equity Tax Saver as on 30 Apr 23
Equity Sector Allocation
Sector Value Financial Services 33.57% Consumer Cyclical 11.02% Industrials 10.35% Basic Materials 8.88% Technology 8.04% Consumer Defensive 6.8% Energy 5.51% Health Care 4.38% Communication Services 2.3% Utility 1.55% Real Estate 1.39% Asset Allocation
Asset Class Value Cash 6.2% Equity 93.8% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK7% ₹380 Cr 2,252,184
↑ 20,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK7% ₹369 Cr 4,026,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE6% ₹287 Cr 1,186,000
↑ 25,000 Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY5% ₹249 Cr 1,986,310 State Bank of India (Financial Services)
Equity, Since 30 Nov 20 | SBIN4% ₹208 Cr 3,595,000 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Nov 20 | HDFC3% ₹180 Cr 650,000
↑ 150,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Dec 20 | AXISBANK3% ₹166 Cr 1,928,000 Tata Consultancy Services Ltd Shs Dematerialised (Technology)
Equity, Since 30 Jun 20 | TCS3% ₹144 Cr 446,212 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 21 | BHARTIARTL2% ₹120 Cr 1,500,000
↑ 60,000 Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Oct 16 | HINDUNILVR2% ₹109 Cr 441,690
↑ 30,000 2. ICICI Prudential Long Term Equity Fund (Tax Saving)
CAGR/Annualized return of 19.1% since its launch. Ranked 30 in ELSS category. Return for 2022 was 2.3% , 2021 was 33.7% and 2020 was 13.6% . ICICI Prudential Long Term Equity Fund (Tax Saving)
Growth Launch Date 19 Aug 99 NAV (07 Jun 23) ₹635.23 ↑ 4.01 (0.64 %) Net Assets (Cr) ₹10,162 on 30 Apr 23 Category Equity - ELSS AMC ICICI Prudential Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.88 Sharpe Ratio -0.11 Information Ratio -0.32 Alpha Ratio -0.98 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 18 ₹10,000 31 May 19 ₹10,941 31 May 20 ₹8,846 31 May 21 ₹14,457 31 May 22 ₹15,848 31 May 23 ₹17,633 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 7 Jun 23 Duration Returns 1 Month 5.9% 3 Month 7.6% 6 Month 1.8% 1 Year 15.4% 3 Year 24.1% 5 Year 12.4% Since launch 19.1% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2022 2.3% 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% Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
Name Since Tenure Harish Bihani 5 Nov 18 4.49 Yr. Sharmila D’mello 31 Jul 22 0.75 Yr. Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 30 Apr 23
Equity Sector Allocation
Sector Value Financial Services 35.61% Consumer Cyclical 15.6% Technology 9.55% Industrials 7.43% Health Care 7.11% Communication Services 6.73% Consumer Defensive 6.69% Energy 4.47% Basic Materials 1.65% Real Estate 1.3% Asset Allocation
Asset Class Value Cash 3.86% Equity 96.14% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK9% ₹926 Cr 10,091,157
↓ -200,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | AXISBANK5% ₹543 Cr 6,316,605 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL5% ₹510 Cr 6,374,762 Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 29 Feb 20 | DMART5% ₹508 Cr 1,445,443 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 17 | HDFCBANK5% ₹500 Cr 2,961,891 Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 28 Feb 18 | MARUTI5% ₹478 Cr 556,607 Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY4% ₹448 Cr 3,572,202
↑ 100,000 SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Mar 21 | SBICARD4% ₹428 Cr 5,546,983 Reliance Industries Ltd (Energy)
Equity, Since 31 May 20 | RELIANCE4% ₹360 Cr 1,488,761 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Oct 18 | LT3% ₹301 Cr 1,272,700 3. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 18% since its launch. Ranked 13 in ELSS category. Return for 2022 was -1.3% , 2021 was 41.5% and 2020 was 31.2% . BOI AXA Tax Advantage Fund
Growth Launch Date 25 Feb 09 NAV (07 Jun 23) ₹106.44 ↑ 1.01 (0.96 %) Net Assets (Cr) ₹739 on 30 Apr 23 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.54 Sharpe Ratio 0.12 Information Ratio 0.12 Alpha Ratio 2.28 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 18 ₹10,000 31 May 19 ₹9,208 31 May 20 ₹8,648 31 May 21 ₹15,134 31 May 22 ₹15,930 31 May 23 ₹18,489 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Jun 23 Duration Returns 1 Month 2.8% 3 Month 7.3% 6 Month 2.7% 1 Year 19.9% 3 Year 27.7% 5 Year 14% Since launch 18% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2022 -1.3% 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% Fund Manager information for BOI AXA Tax Advantage Fund
Name Since Tenure Alok Singh 27 Apr 22 1.01 Yr. Data below for BOI AXA Tax Advantage Fund as on 30 Apr 23
Equity Sector Allocation
Sector Value Financial Services 36.97% Industrials 10.94% Consumer Defensive 9.81% Basic Materials 9.14% Health Care 6.44% Utility 5.55% Energy 5.02% Consumer Cyclical 3.56% Technology 2.9% Real Estate 1.98% Communication Services 0.69% Asset Allocation
Asset Class Value Cash 6.92% Equity 93.01% Debt 0.07% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | ICICIBANK7% ₹49 Cr 529,340 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK6% ₹45 Cr 265,000 State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN6% ₹45 Cr 770,000 Canara Bank (Financial Services)
Equity, Since 31 Aug 22 | CANBK4% ₹28 Cr 895,000 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE3% ₹22 Cr 91,009 NTPC Ltd Shs Dematerialised (Utilities)
Equity, Since 30 Apr 22 | NTPC3% ₹22 Cr 1,260,000 ITC Ltd Shs Dematerialised (Consumer Defensive)
Equity, Since 31 May 22 | ITC3% ₹20 Cr 473,223 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Dec 22 | LT2% ₹18 Cr 76,000
↑ 5,000 Balrampur Chini Mills Ltd (Consumer Defensive)
Equity, Since 30 Apr 22 | BALRAMCHIN2% ₹18 Cr 432,000 Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | AXISBANK2% ₹18 Cr 204,000 4. IDFC Tax Advantage (ELSS) Fund
CAGR/Annualized return of 18% since its launch. Ranked 3 in ELSS category. Return for 2022 was 4.2% , 2021 was 49.2% and 2020 was 18.7% . IDFC Tax Advantage (ELSS) Fund
Growth Launch Date 26 Dec 08 NAV (07 Jun 23) ₹108.94 ↑ 0.50 (0.46 %) Net Assets (Cr) ₹4,333 on 30 Apr 23 Category Equity - ELSS AMC IDFC Asset Management Company Limited Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 1.95 Sharpe Ratio -0.07 Information Ratio 1.16 Alpha Ratio -0.58 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 May 18 ₹10,000 31 May 19 ₹9,909 31 May 20 ₹7,293 31 May 21 ₹14,346 31 May 22 ₹15,924 31 May 23 ₹18,396 Returns for IDFC Tax Advantage (ELSS) Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 7 Jun 23 Duration Returns 1 Month 6.2% 3 Month 9% 6 Month 5.3% 1 Year 19.6% 3 Year 34.1% 5 Year 13.7% Since launch 18% 10 Year 15 Year Historical performance (Yearly) on absolute basis
Year Returns 2022 4.2% 2021 49.2% 2020 18.7% 2019 1.9% 2018 -9.4% 2017 53.4% 2016 0.4% 2015 6.9% 2014 42.2% 2013 15% Fund Manager information for IDFC Tax Advantage (ELSS) Fund
Name Since Tenure Daylynn Pinto 20 Oct 16 6.53 Yr. Data below for IDFC Tax Advantage (ELSS) Fund as on 30 Apr 23
Equity Sector Allocation
Sector Value Financial Services 27.23% Industrials 13.77% Consumer Cyclical 13.37% Basic Materials 10.49% Technology 8.41% Health Care 6.4% Consumer Defensive 6.35% Energy 3.91% Communication Services 2.44% Utility 1.47% Asset Allocation
Asset Class Value Cash 6.16% Equity 93.84% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK8% ₹349 Cr 3,800,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK4% ₹177 Cr 1,050,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE4% ₹169 Cr 700,000
↑ 25,000 Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY4% ₹169 Cr 1,350,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | AXISBANK4% ₹168 Cr 1,950,000
↑ 100,000 State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN3% ₹145 Cr 2,500,000
↓ -500,000 Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS3% ₹126 Cr 2,600,000 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 30 Apr 22 | HDFC3% ₹118 Cr 425,000
↑ 75,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL2% ₹106 Cr 1,325,000 NCC Ltd (Industrials)
Equity, Since 28 Feb 19 | NCC2% ₹104 Cr 8,700,000
↓ -300,000
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.
You Might Also Like
AMFI Registration No. 112358 | CIN: U74999MH2016PTC282153
Shepard Technologies Pvt. Ltd. (with ARN code 112358) makes no warranties or representations, express or implied, on products offered through the platform. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Terms and conditions of the website are applicable.
©2023 Shepard Technologies Private Limited. All Rights Reserved