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Best Tax Saving Mutual Funds Plans FY 19 - 20

Updated on August 14, 2019 , 197 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 ₹355.51
↑ 0.91
₹6,436-3.84.6-4.76.38.60.519.6
Canara Robeco Equity Tax Saver Growth ₹61.63
↓ -0.17
₹979-22.8-5.38.99.12.718.8
Axis Long Term Equity Fund Growth ₹44.1642
↑ 0.12
₹19,7182.78.2-1.610.312.92.716.7
IDFC Tax Advantage (ELSS) Fund Growth ₹51.18
↓ -0.07
₹2,060-5.12-10.37.910.4-9.416.6
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 16 Aug 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 19.6% 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 (16 Aug 19) ₹355.51 ↑ 0.91   (0.26 %)
Net Assets (Cr) ₹6,436 on 30 Jun 19
Category Equity - ELSS
AMC ICICI Prudential Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.39
Sharpe Ratio 0.48
Information Ratio -0.41
Alpha Ratio 2.92
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 14₹10,000
31 Jul 15₹11,901
31 Jul 16₹12,671
31 Jul 17₹14,178
31 Jul 18₹15,982
31 Jul 19₹15,637

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 ₹376,357.
Net Profit of ₹76,357
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 16 Aug 19

DurationReturns
1 Month -6.4%
3 Month -3.8%
6 Month 4.6%
1 Year -4.7%
3 Year 6.3%
5 Year 8.6%
Since launch 19.6%
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 Jun 19

Equity Sector Allocation
SectorValue
Financial Services22.45%
Basic Materials9.82%
Technology9.4%
Utility8.8%
Health Care8.18%
Industrials7.9%
Consumer Defensive7.51%
Consumer Cyclical7.36%
Communication Services5.67%
Energy4.99%
Asset Allocation
Asset ClassValue
Cash7.91%
Equity92.09%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Treps
CBLO/Reverse Repo | -
8%₹508 Cr
NTPC Ltd (Utilities)
Equity, Since 31 Jul 17 | 532555
6%₹380 Cr26,876,966
↓ -5,123,034
Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 17 | BHARTIARTL
6%₹365 Cr10,530,522
ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 17 | ITC
5%₹336 Cr12,253,608
↑ 253,608
Infosys Ltd (Technology)
Equity, Since 30 Jun 16 | INFY
5%₹318 Cr4,348,004
Hindalco Industries Ltd (Basic Materials)
Equity, Since 30 Nov 18 | HINDALCO
4%₹289 Cr13,946,969
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | ICICIBANK
4%₹275 Cr6,300,000
↑ 200,000
Oil & Natural Gas Corp Ltd (Energy)
Equity, Since 30 Nov 18 | 500312
4%₹265 Cr15,821,753
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
4%₹250 Cr6,906,964
Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Oct 18 | LT
4%₹240 Cr1,543,500

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 18.8% 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 (16 Aug 19) ₹61.63 ↓ -0.17   (-0.28 %)
Net Assets (Cr) ₹979 on 30 Jun 19
Category Equity - ELSS
AMC Canara Robeco Asset Management Co. Ltd.
Rating
Risk Moderately High
Expense Ratio 2.59
Sharpe Ratio 0.6
Information Ratio 0.04
Alpha Ratio 2.23
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 14₹10,000
31 Jul 15₹12,151
31 Jul 16₹12,043
31 Jul 17₹14,139
31 Jul 18₹15,924
31 Jul 19₹15,720

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 ₹385,859.
Net Profit of ₹85,859
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 16 Aug 19

DurationReturns
1 Month -5.8%
3 Month -2%
6 Month 2.8%
1 Year -5.3%
3 Year 8.9%
5 Year 9.1%
Since launch 18.8%
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
Krishna Sanghavi16 Oct 180.37 Yr.
Cheenu Gupta12 Mar 180.97 Yr.

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

Equity Sector Allocation
SectorValue
Financial Services37.58%
Industrials16.02%
Basic Materials14.63%
Consumer Defensive6.36%
Health Care5.64%
Technology5.13%
Consumer Cyclical3.52%
Utility2.73%
Energy2.55%
Communication Services0.99%
Asset Allocation
Asset ClassValue
Cash4.8%
Equity95.14%
Other0.06%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | ICICIBANK
9%₹83 Cr1,960,000
↑ 110,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Nov 08 | HDFCBANK
8%₹69 Cr306,342
State Bank of India (Financial Services)
Equity, Since 31 Aug 18 | SBIN
5%₹48 Cr1,431,000
Treps
CBLO/Reverse Repo | -
5%₹44 Cr
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Mar 19 | HDFC
5%₹41 Cr195,500
↑ 148,500
Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 500034
4%₹38 Cr115,650
↑ 61,150
Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 532215
4%₹35 Cr513,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Apr 18 | LT
4%₹33 Cr241,200
↓ -175,000
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 19 | KOTAKBANK
3%₹29 Cr193,500
↑ 193,500
Divi's Laboratories Ltd (Healthcare)
Equity, Since 31 Dec 18 | DIVISLAB
3%₹29 Cr177,500

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 16.7% 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 (16 Aug 19) ₹44.1642 ↑ 0.12   (0.27 %)
Net Assets (Cr) ₹19,718 on 30 Jun 19
Category Equity - ELSS
AMC Axis Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.49
Sharpe Ratio 0.26
Information Ratio 0.01
Alpha Ratio -1.37
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 14₹10,000
31 Jul 15₹13,160
31 Jul 16₹13,941
31 Jul 17₹16,158
31 Jul 18₹18,938
31 Jul 19₹18,363

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 ₹415,684.
Net Profit of ₹115,684
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 16 Aug 19

DurationReturns
1 Month -2.8%
3 Month 2.7%
6 Month 8.2%
1 Year -1.6%
3 Year 10.3%
5 Year 12.9%
Since launch 16.7%
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 Jun 19

Equity Sector Allocation
SectorValue
Financial Services44.44%
Consumer Cyclical16.46%
Technology13.84%
Consumer Defensive7.24%
Basic Materials6.61%
Industrials4.54%
Utility4.01%
Health Care1.47%
Asset Allocation
Asset ClassValue
Cash5.54%
Equity94.46%
Debt0%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 May 11 | KOTAKBANK
9%₹1,742 Cr11,464,075
Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 500034
8%₹1,592 Cr4,895,078
↓ -263,628
Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 17 | TCS
8%₹1,555 Cr7,048,090
↓ -270,000
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFCBANK
7%₹1,391 Cr6,177,875
↓ -315,000
Pidilite Industries Ltd (Basic Materials)
Equity, Since 30 Nov 14 | PIDILITIND
7%₹1,287 Cr10,373,622
↓ -364,992
Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Apr 17 | 540376
6%₹1,087 Cr7,328,520
↑ 255,634
Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 10 | HDFC
5%₹1,008 Cr4,752,763
↓ -969,245
Info Edge (India) Ltd (Technology)
Equity, Since 31 May 14 | NAUKRI
5%₹991 Cr4,412,609
↑ 186,328
GRUH Finance Ltd (Financial Services)
Equity, Since 31 May 11 | 511288
5%₹903 Cr36,535,665
↑ 773,477
Clearing Corporation Of India Ltd
CBLO | -
4%₹791 Cr

4. IDFC Tax Advantage (ELSS) Fund

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 CAGR/Annualized return of 16.6% since its launch.  Ranked 3 in ELSS category.  Return for 2018 was -9.4% , 2017 was 53.4% and 2016 was 0.4% .

Below is the key information for IDFC Tax Advantage (ELSS) Fund

IDFC Tax Advantage (ELSS) Fund
Growth
Launch Date 26 Dec 08
NAV (16 Aug 19) ₹51.18 ↓ -0.07   (-0.14 %)
Net Assets (Cr) ₹2,060 on 30 Jun 19
Category Equity - ELSS
AMC IDFC Asset Management Company Limited
Rating
Risk Moderately High
Expense Ratio 2.74
Sharpe Ratio -0.04
Information Ratio -0.01
Alpha Ratio -6.24
Min Investment 500
Min SIP Investment 500
Exit Load NIL

Growth of 10,000 investment over the years.

DateValue
31 Jul 14₹10,000
31 Jul 15₹13,223
31 Jul 16₹13,113
31 Jul 17₹16,562
31 Jul 18₹18,211
31 Jul 19₹16,511

IDFC Tax Advantage (ELSS) 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 IDFC Tax Advantage (ELSS) Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 16 Aug 19

DurationReturns
1 Month -7.6%
3 Month -5.1%
6 Month 2%
1 Year -10.3%
3 Year 7.9%
5 Year 10.4%
Since launch 16.6%
10 Year
15 Year
Historical performance (Yearly) on absolute basis
YearReturns
2018 -9.4%
2017 53.4%
2016 0.4%
2015 6.9%
2014 42.2%
2013 15%
2012 36.2%
2011 -23.3%
2010 24%
2009 70.8%
Fund Manager information for IDFC Tax Advantage (ELSS) Fund
NameSinceTenure
Daylynn Pinto20 Oct 162.61 Yr.

Data below for IDFC Tax Advantage (ELSS) Fund as on 30 Jun 19

Equity Sector Allocation
SectorValue
Financial Services30.98%
Industrials15%
Basic Materials13.36%
Consumer Cyclical12.12%
Technology7.48%
Energy5.81%
Health Care4.66%
Consumer Defensive4.48%
Utility1.74%
Communication Services0.29%
Asset Allocation
Asset ClassValue
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK
7%₹140 Cr3,300,000
↓ -50,000
State Bank of India (Financial Services)
Equity, Since 31 Oct 18 | SBIN
4%₹83 Cr2,500,000
↓ -300,000
HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK
4%₹77 Cr340,000
↓ -10,000
Triparty Repo
CBLO/Reverse Repo | -
4%₹73 Cr
Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 18 | 532215
4%₹72 Cr1,075,000
Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE
3%₹64 Cr550,000
Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY
3%₹63 Cr800,000
Future Retail Ltd (Consumer Cyclical)
Equity, Since 31 Aug 16 | FRETAIL
3%₹54 Cr1,320,000
↑ 35,000
Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Apr 19 | LT
2%₹44 Cr320,000
↑ 20,000
RBL Bank Ltd (Financial Services)
Equity, Since 31 Aug 16 | RBLBANK
2%₹41 Cr1,025,000
↑ 125,000

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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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