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Best Tax Saving Mutual Funds Plans FY 20 - 21

Updated on January 20, 2020 , 313 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 20 - 21

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 (%)2019 (%)Since launch (%)
ICICI Prudential Long Term Equity Fund (Tax Saving) Growth ₹394.11
↓ -2.99
₹6,7076.66.410.810.77.68.819.7
Canara Robeco Equity Tax Saver Growth ₹68.65
↓ -0.20
₹1,0053.68.210.913.57.510.719.2
Mirae Asset Tax Saver Fund Growth ₹19.239
↓ -0.07
₹3,0667.31015.917.1 14.117.4
Axis Long Term Equity Fund Growth ₹49.3849
↓ -0.16
₹21,4732.712.219.816.910.214.817.2
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 22 Jan 20
*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 2019 was 8.8% , 2018 was 0.5% and 2017 was 26% .

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 (22 Jan 20) ₹394.11 ↓ -2.99   (-0.75 %)
Net Assets (Cr) ₹6,707 on 31 Dec 19
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.17
Sharpe Ratio 0.46
Information Ratio -0.51
Alpha Ratio -0.16
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,433
31 Dec 16₹10,842
31 Dec 17₹13,661
31 Dec 18₹13,730
31 Dec 19₹14,940

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 22 Jan 20

DurationReturns
1 Month 0.9%
3 Month 6.6%
6 Month 6.4%
1 Year 10.8%
3 Year 10.7%
5 Year 7.6%
Since launch 19.7%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
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%
2010 24.1%
Fund Manager information for ICICI Prudential Long Term Equity Fund (Tax Saving)
NameSinceTenure
Sankaran Naren5 Nov 181.07 Yr.
Priyanka Khandelwal15 Jun 172.46 Yr.
Harish Bihani5 Nov 181.07 Yr.

Data below for ICICI Prudential Long Term Equity Fund (Tax Saving) as on 31 Dec 19

Equity Sector Allocation
SectorValue
Financial Services23.58%
Health Care9.21%
Technology8.43%
Basic Materials8.27%
Communication Services8.06%
Utility7.95%
Industrials7.87%
Consumer Cyclical7.48%
Energy6.02%
Consumer Defensive5.31%
Real Estate0.28%
Asset Allocation
Asset ClassValue
Cash7.54%
Equity92.46%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Treps
CBLO/Reverse Repo | -
8%₹525 Cr
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
7%₹438 Cr9,907,191
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
6%₹431 Cr8,402,979
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
6%₹410 Cr35,259,121
↑ 269,121
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
5%₹346 Cr4,968,548
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
5%₹302 Cr12,253,608
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
4%₹292 Cr14,585,604
Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 30 Nov 18 | 500312
4%₹264 Cr20,000,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Oct 18 | LT
4%₹234 Cr1,758,397
↑ 472,277
Axis Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | 532215
3%₹186 Cr2,512,027

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 19.2% since its launch.  Ranked 36 in ELSS category.  Return for 2019 was 10.7% , 2018 was 2.7% and 2017 was 32% .

Below is the key information for Canara Robeco Equity Tax Saver

Canara Robeco Equity Tax Saver
Growth
Launch Date 2 Feb 09
NAV (22 Jan 20) ₹68.65 ↓ -0.20   (-0.29 %)
Net Assets (Cr) ₹1,005 on 31 Dec 19
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.32
Sharpe Ratio 0.57
Information Ratio -0.1
Alpha Ratio -1.23
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,060
31 Dec 16₹10,055
31 Dec 17₹13,269
31 Dec 18₹13,625
31 Dec 19₹15,088

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 ₹367,070.
Net Profit of ₹67,070
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 22 Jan 20

DurationReturns
1 Month 0.2%
3 Month 3.6%
6 Month 8.2%
1 Year 10.9%
3 Year 13.5%
5 Year 7.5%
Since launch 19.2%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2019 10.7%
2018 2.7%
2017 32%
2016 0%
2015 0.6%
2014 45.2%
2013 5.3%
2012 30%
2011 -16.3%
2010 24.9%
Fund Manager information for Canara Robeco Equity Tax Saver
NameSinceTenure
Shridatta Bhandwaldar1 Oct 190.16 Yr.
Cheenu Gupta12 Mar 181.72 Yr.

Data below for Canara Robeco Equity Tax Saver as on 31 Dec 19

Equity Sector Allocation
SectorValue
Financial Services44%
Technology11.49%
Consumer Defensive11.17%
Basic Materials8.51%
Industrials7.69%
Health Care5.18%
Consumer Cyclical4.75%
Energy3.48%
Communication Services1.02%
Asset Allocation
Asset ClassValue
Cash2.67%
Equity97.33%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
10%₹96 Cr754,684
Infosys Ltd (Technology)
Equity, Since 31 Jul 18 | INFY
7%₹67 Cr964,500
↑ 222,000
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
6%₹62 Cr1,211,000
↑ 390,000
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
5%₹53 Cr129,150
Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 Oct 16 | 500696
4%₹44 Cr213,830
Asian Paints Ltd (Basic Materials)
Equity, Since 31 Mar 18 | 500820
4%₹37 Cr219,300
↑ 57,000
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
4%₹37 Cr206,500
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
4%₹36 Cr221,000
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Mar 19 | HDFC
3%₹35 Cr150,500
Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 19 | RELIANCE
3%₹34 Cr221,500
↑ 221,500

3. 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 17.4% since its launch.  Return for 2019 was 14.1% , 2018 was -2.3% and 2017 was 47.9% .

Below is the key information for Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund
Growth
Launch Date 28 Dec 15
NAV (22 Jan 20) ₹19.239 ↓ -0.07   (-0.34 %)
Net Assets (Cr) ₹3,066 on 31 Dec 19
Category Equity - ELSS
AMC Mirae Asset Global Inv (India) Pvt. Ltd
Rating Not Rated
Risk Moderately High
Expense Ratio 2.11
Sharpe Ratio 0.97
Information Ratio 1.26
Alpha Ratio 4.17
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
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

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 ₹470,047.
Net Profit of ₹170,047
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 22 Jan 20

DurationReturns
1 Month 1.2%
3 Month 7.3%
6 Month 10%
1 Year 15.9%
3 Year 17.1%
5 Year
Since launch 17.4%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2019 14.1%
2018 -2.3%
2017 47.9%
2016 14.8%
2015
2014
2013
2012
2011
2010
Fund Manager information for Mirae Asset Tax Saver Fund
NameSinceTenure
Neelesh Surana28 Dec 153.93 Yr.

Data below for Mirae Asset Tax Saver Fund as on 31 Dec 19

Equity Sector Allocation
SectorValue
Financial Services37.36%
Consumer Cyclical11.22%
Consumer Defensive9.36%
Industrials8.14%
Energy7.85%
Health Care7.73%
Technology7.29%
Basic Materials5.02%
Utility3.94%
Communication Services1.31%
Asset Allocation
Asset ClassValue
Cash0.79%
Equity99.21%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK
9%₹270 Cr2,115,085
↑ 63,752
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | ICICIBANK
6%₹185 Cr3,604,412
State Bank of India (Financial Services)
Equity, Since 31 Dec 15 | SBIN
5%₹147 Cr4,301,299
Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 15 | RELIANCE
5%₹146 Cr939,876
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 16 | LT
4%₹120 Cr904,880
↑ 287,000
Infosys Ltd (Technology)
Equity, Since 31 Dec 15 | INFY
4%₹114 Cr1,633,557
Axis Bank Ltd (Financial Services)
Equity, Since 31 Jan 18 | 532215
4%₹104 Cr1,411,338
ITC Ltd (Consumer Defensive)
Equity, Since 30 Apr 16 | ITC
4%₹101 Cr4,111,794
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Dec 15 | TCS
3%₹96 Cr467,179
↑ 40,000
IndusInd Bank Ltd (Financial Services)
Equity, Since 29 Feb 16 | INDUSINDBK
3%₹95 Cr607,689

4. 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 17.2% since its launch.  Ranked 20 in ELSS category.  Return for 2019 was 14.8% , 2018 was 2.7% and 2017 was 37.4% .

Below is the key information for Axis Long Term Equity Fund

Axis Long Term Equity Fund
Growth
Launch Date 29 Dec 09
NAV (22 Jan 20) ₹49.3849 ↓ -0.16   (-0.33 %)
Net Assets (Cr) ₹21,473 on 31 Dec 19
Category Equity - ELSS
AMC Axis Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.13
Sharpe Ratio 0.89
Information Ratio 0.52
Alpha Ratio 4.74
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Dec 14₹10,000
31 Dec 15₹10,670
31 Dec 16₹10,596
31 Dec 17₹14,563
31 Dec 18₹14,952
31 Dec 19₹17,169

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 ₹395,578.
Net Profit of ₹95,578
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 22 Jan 20

DurationReturns
1 Month -0.4%
3 Month 2.7%
6 Month 12.2%
1 Year 19.8%
3 Year 16.9%
5 Year 10.2%
Since launch 17.2%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2019 14.8%
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%
Fund Manager information for Axis Long Term Equity Fund
NameSinceTenure
Jinesh Gopani1 Apr 118.67 Yr.

Data below for Axis Long Term Equity Fund as on 31 Dec 19

Equity Sector Allocation
SectorValue
Financial Services43.25%
Consumer Cyclical14.14%
Consumer Defensive11.12%
Technology7.45%
Communication Services6.13%
Basic Materials5.99%
Industrials4.09%
Utility3.49%
Health Care1.7%
Asset Allocation
Asset ClassValue
Cash2.64%
Equity97.36%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
9%₹1,836 Cr4,506,153
↑ 179,487
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 11 | KOTAKBANK
8%₹1,704 Cr10,547,075
↓ -375,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
8%₹1,675 Cr13,140,750
↓ -475,000
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
6%₹1,362 Cr7,475,645
Bandhan Bank Ltd (Financial Services)
Equity, Since 31 Mar 18 | 541153
6%₹1,351 Cr23,238,395
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
6%₹1,344 Cr6,548,129
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFC
6%₹1,343 Cr5,846,662
↑ 310,000
Info Edge (India) Ltd (Communication Services)
Equity, Since 31 May 14 | NAUKRI
5%₹1,149 Cr4,363,102
↓ -210,947
Pidilite Industries Ltd (Basic Materials)
Equity, Since 30 Nov 14 | PIDILITIND
5%₹1,085 Cr8,329,997
↓ -72,221
Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 30 Nov 10 | MARUTI
5%₹1,069 Cr1,475,870
↑ 233,000

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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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