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5 Best ELSS Mutual Funds Investments in India for 2023
Best elss Funds or Equity Linked Savings Schemes are equity diversified Mutual Funds that majorly invest in equity-linked instruments (like shares and stocks) to provide Market-linked returns. Typically, 80% of the fund corpus is invested in equity and the remaining in debt instruments. Best ELSS funds are also known as the tax saving Mutual Funds as they offer tax benefits under Section 80C of the income tax Act & have lock-in of 3 Years on investments.
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Top 5 Best Performing ELSS Mutual Funds 2023 - 2024
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 The fund plans to provide long term growth of capital. HDFC Tax Saver Fund is a Equity - ELSS fund was launched on 31 Mar 96. It is a fund with Moderately High risk and has given a Below is the key information for HDFC Tax Saver Fund Returns up to 1 year are on To deliver the benefit of investment in a portfolio of equity shares, while offering
deduction on such investment made in the scheme under section 80C of the
Income-tax Act, 1961. It also seeks to distribute income periodically depending
on distributable surplus. Investments in this scheme would be subject to a
statutory lock-in of 3 years from the date of allotment to avail Section 80C benefits. SBI Magnum Tax Gain Fund is a Equity - ELSS fund was launched on 7 May 07. It is a fund with Moderately High risk and has given a Below is the key information for SBI Magnum Tax Gain Fund Returns up to 1 year are on The primary objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related instruments. However, there can be no assurance that the scheme’s
investment objective shall be achieved. Nippon India Tax Saver Fund (ELSS) is a Equity - ELSS fund was launched on 21 Sep 05. It is a fund with Moderately High risk and has given a Below is the key information for Nippon India Tax Saver Fund (ELSS) Returns up to 1 year are on (Erstwhile Motilal Oswal MOSt Focused Long Term 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. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. Motilal Oswal Long Term Equity Fund is a Equity - ELSS fund was launched on 21 Jan 15. It is a fund with Moderately High risk and has given a Below is the key information for Motilal Oswal Long Term Equity Fund Returns up to 1 year are on Assets >= 100 Crore & Sorted on 3 Year CAGR Return.
1. IDFC Tax Advantage (ELSS) Fund
CAGR/Annualized return of 18.3% 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 (30 Nov 23) ₹123.176 ↑ 0.52 (0.42 %) Net Assets (Cr) ₹5,040 on 31 Oct 23 Category Equity - ELSS AMC IDFC Asset Management Company Limited Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 1.95 Sharpe Ratio 0.67 Information Ratio 1.22 Alpha Ratio 4.16 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Nov 18 ₹10,000 30 Nov 19 ₹10,276 30 Nov 20 ₹11,305 30 Nov 21 ₹17,317 30 Nov 22 ₹19,405 30 Nov 23 ₹22,938 Returns for IDFC Tax Advantage (ELSS) Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Nov 23 Duration Returns 1 Month 6.4% 3 Month 4.3% 6 Month 15.1% 1 Year 18.2% 3 Year 26.6% 5 Year 18.1% 10 Year 15 Year Since launch 18.3% 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 7.04 Yr. Nishita Shah 31 Jul 23 0.25 Yr. Data below for IDFC Tax Advantage (ELSS) Fund as on 31 Oct 23
Equity Sector Allocation
Sector Value Financial Services 26.91% Consumer Cyclical 12.98% Industrials 12.36% Basic Materials 9.87% Technology 9.18% Consumer Defensive 7.13% Health Care 6.97% Energy 4.31% Communication Services 2.31% Utility 1.87% Asset Allocation
Asset Class Value Cash 6.11% Equity 93.89% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 16 | ICICIBANK7% ₹348 Cr 3,800,000 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Sep 14 | HDFCBANK6% ₹281 Cr 1,900,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Jul 18 | RELIANCE4% ₹217 Cr 950,000
↑ 50,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 21 | 5322154% ₹196 Cr 2,000,000 Infosys Ltd (Technology)
Equity, Since 31 Jul 15 | INFY4% ₹192 Cr 1,400,000 Tata Motors Ltd (Consumer Cyclical)
Equity, Since 31 May 20 | TATAMOTORS3% ₹157 Cr 2,500,000 State Bank of India (Financial Services)
Equity, Since 30 Jun 20 | SBIN3% ₹153 Cr 2,700,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Jan 20 | BHARTIARTL2% ₹117 Cr 1,275,000 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 Oct 21 | TCS2% ₹109 Cr 325,000 KEC International Ltd (Industrials)
Equity, Since 30 Sep 15 | 5327142% ₹99 Cr 1,575,000
↓ -105,049 2. HDFC Tax Saver Fund
CAGR/Annualized return of since its launch. Ranked 27 in ELSS category. Return for 2022 was 10.5% , 2021 was 35.3% and 2020 was 5.8% . HDFC Tax Saver Fund
Growth Launch Date 31 Mar 96 NAV (30 Nov 23) ₹1,013.11 ↑ 7.90 (0.79 %) Net Assets (Cr) ₹11,272 on 31 Oct 23 Category Equity - ELSS AMC HDFC Asset Management Company Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.84 Sharpe Ratio 0.78 Information Ratio 1.33 Alpha Ratio 4.7 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Nov 18 ₹10,000 30 Nov 19 ₹10,548 30 Nov 20 ₹10,296 30 Nov 21 ₹14,797 30 Nov 22 ₹17,218 30 Nov 23 ₹20,625 Returns for HDFC Tax Saver Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Nov 23 Duration Returns 1 Month 8.3% 3 Month 8.6% 6 Month 19.3% 1 Year 19.8% 3 Year 26.1% 5 Year 15.6% 10 Year 15 Year Since launch Historical performance (Yearly) on absolute basis
Year Returns 2022 10.5% 2021 35.3% 2020 5.8% 2019 3.7% 2018 -10.9% 2017 38.7% 2016 7.6% 2015 -6.2% 2014 56.4% 2013 5.1% Fund Manager information for HDFC Tax Saver Fund
Name Since Tenure Roshi Jain 13 Jan 22 1.8 Yr. Dhruv Muchhal 22 Jun 23 0.36 Yr. Data below for HDFC Tax Saver Fund as on 31 Oct 23
Equity Sector Allocation
Sector Value Financial Services 35.31% Health Care 12.5% Technology 11.18% Industrials 10.07% Utility 7.71% Consumer Cyclical 5.68% Communication Services 5.46% Energy 4.61% Real Estate 2.72% Asset Allocation
Asset Class Value Cash 4.78% Equity 95.22% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 15 | HDFCBANK9% ₹1,034 Cr 7,000,000 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK9% ₹1,025 Cr 11,200,000 NTPC Ltd (Utilities)
Equity, Since 30 Nov 16 | 5325555% ₹613 Cr 26,000,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Nov 19 | BHARTIARTL5% ₹594 Cr 6,500,000
↓ -1,000,000 HCL Technologies Ltd (Technology)
Equity, Since 30 Sep 20 | HCLTECH5% ₹587 Cr 4,600,000 State Bank of India (Financial Services)
Equity, Since 31 Dec 06 | SBIN5% ₹566 Cr 10,000,000 Cipla Ltd (Healthcare)
Equity, Since 31 Oct 09 | 5000875% ₹564 Cr 4,700,000
↑ 200,000 Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Jan 22 | HAL5% ₹547 Cr 3,000,000 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Jan 22 | SBILIFE4% ₹492 Cr 3,600,000 Infosys Ltd (Technology)
Equity, Since 30 Sep 08 | INFY4% ₹411 Cr 3,000,000
↓ -300,000 3. SBI Magnum Tax Gain Fund
CAGR/Annualized return of 12.3% since its launch. Ranked 31 in ELSS category. Return for 2022 was 6.9% , 2021 was 31% and 2020 was 18.9% . SBI Magnum Tax Gain Fund
Growth Launch Date 7 May 07 NAV (30 Nov 23) ₹310.403 ↑ 2.68 (0.87 %) Net Assets (Cr) ₹15,774 on 31 Oct 23 Category Equity - ELSS AMC SBI Funds Management Private Limited Rating ☆☆ Risk Moderately High Expense Ratio 1.79 Sharpe Ratio 1.09 Information Ratio 0.89 Alpha Ratio 9.43 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Nov 18 ₹10,000 30 Nov 19 ₹10,555 30 Nov 20 ₹11,560 30 Nov 21 ₹16,091 30 Nov 22 ₹17,994 30 Nov 23 ₹22,805 Returns for SBI Magnum Tax Gain Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Nov 23 Duration Returns 1 Month 9% 3 Month 9% 6 Month 22.8% 1 Year 26.7% 3 Year 25.4% 5 Year 17.9% 10 Year 15 Year Since launch 12.3% Historical performance (Yearly) on absolute basis
Year Returns 2022 6.9% 2021 31% 2020 18.9% 2019 4% 2018 -8.3% 2017 33% 2016 2.1% 2015 3.2% 2014 49.1% 2013 7% Fund Manager information for SBI Magnum Tax Gain Fund
Name Since Tenure Dinesh Balachandran 10 Sep 16 7.14 Yr. Data below for SBI Magnum Tax Gain Fund as on 31 Oct 23
Equity Sector Allocation
Sector Value Financial Services 25.39% Industrials 14.02% Consumer Cyclical 9.99% Health Care 9.35% Energy 8.15% Basic Materials 7.57% Technology 7.44% Utility 5.32% Communication Services 3.23% Consumer Defensive 3.03% Real Estate 0.89% Asset Allocation
Asset Class Value Cash 5.4% Equity 94.6% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 17 | ICICIBANK4% ₹679 Cr 7,416,237 HDFC Bank Ltd (Financial Services)
Equity, Since 30 Jun 07 | HDFCBANK4% ₹627 Cr 4,243,253 Larsen & Toubro Ltd (Industrials)
Equity, Since 28 Feb 07 | LT3% ₹537 Cr 1,832,046 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Mar 17 | BHARTIARTL3% ₹509 Cr 5,563,576 Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Dec 16 | M&M3% ₹498 Cr 3,415,083 GE T&D India Ltd (Industrials)
Equity, Since 30 Sep 16 | 5222753% ₹482 Cr 12,194,328 Cummins India Ltd (Industrials)
Equity, Since 28 Feb 19 | 5004803% ₹463 Cr 2,763,190 Torrent Power Ltd (Utilities)
Equity, Since 31 Jul 19 | 5327793% ₹455 Cr 6,252,617 Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 06 | RELIANCE3% ₹443 Cr 1,937,574 Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 11 | 5322153% ₹441 Cr 4,492,332 4. Nippon India Tax Saver Fund (ELSS)
CAGR/Annualized return of 13.3% since its launch. Ranked 16 in ELSS category. Return for 2022 was 6.9% , 2021 was 37.6% and 2020 was -0.4% . Nippon India Tax Saver Fund (ELSS)
Growth Launch Date 21 Sep 05 NAV (30 Nov 23) ₹96.6178 ↑ 0.64 (0.66 %) Net Assets (Cr) ₹12,323 on 31 Oct 23 Category Equity - ELSS AMC Nippon Life Asset Management Ltd. Rating ☆☆☆ Risk Moderately High Expense Ratio 1.8 Sharpe Ratio 0.52 Information Ratio 1 Alpha Ratio 2.45 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Nov 18 ₹10,000 30 Nov 19 ₹10,195 30 Nov 20 ₹9,563 30 Nov 21 ₹13,922 30 Nov 22 ₹15,566 30 Nov 23 ₹17,996 Returns for Nippon India Tax Saver Fund (ELSS)
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Nov 23 Duration Returns 1 Month 6.7% 3 Month 6.2% 6 Month 17.6% 1 Year 15.6% 3 Year 23.5% 5 Year 12.5% 10 Year 15 Year Since launch 13.3% Historical performance (Yearly) on absolute basis
Year Returns 2022 6.9% 2021 37.6% 2020 -0.4% 2019 1.5% 2018 -20.7% 2017 46% 2016 4.2% 2015 -2.9% 2014 83% 2013 3.5% Fund Manager information for Nippon India Tax Saver Fund (ELSS)
Name Since Tenure Rupesh Patel 1 Jul 21 2.34 Yr. Ashutosh Bhargava 1 Jul 20 3.34 Yr. Kinjal Desai 25 May 18 5.44 Yr. Akshay Sharma 1 Dec 22 0.92 Yr. Data below for Nippon India Tax Saver Fund (ELSS) as on 31 Oct 23
Equity Sector Allocation
Sector Value Financial Services 35.11% Consumer Cyclical 12.21% Industrials 10.13% Consumer Defensive 9.68% Basic Materials 7.95% Technology 4.89% Utility 4.85% Energy 4.5% Health Care 3.95% Communication Services 3.3% Real Estate 1.67% Asset Allocation
Asset Class Value Cash 1.29% Equity 98.42% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 29 Feb 20 | HDFCBANK8% ₹1,042 Cr 7,056,000 ICICI Bank Ltd (Financial Services)
Equity, Since 28 Feb 15 | ICICIBANK7% ₹915 Cr 10,000,000
↓ -400,000 Infosys Ltd (Technology)
Equity, Since 31 Mar 20 | INFY5% ₹602 Cr 4,400,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 20 | 5322154% ₹530 Cr 5,400,000
↓ -200,000 State Bank of India (Financial Services)
Equity, Since 31 Dec 13 | SBIN4% ₹475 Cr 8,400,000
↓ -200,000 NTPC Ltd (Utilities)
Equity, Since 28 Feb 19 | 5325553% ₹382 Cr 16,200,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 20 | RELIANCE3% ₹366 Cr 1,600,000
↓ -300,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 May 18 | LT3% ₹344 Cr 1,173,822 Samvardhana Motherson International Ltd (Consumer Cyclical)
Equity, Since 30 Nov 21 | MOTHERSON2% ₹282 Cr 30,700,000 KSB Ltd (Industrials)
Equity, Since 30 Apr 06 | KSB2% ₹272 Cr 887,681
↓ -3,360 5. Motilal Oswal Long Term Equity Fund
CAGR/Annualized return of 15.3% since its launch. Return for 2022 was 1.8% , 2021 was 32.1% and 2020 was 8.8% . Motilal Oswal Long Term Equity Fund
Growth Launch Date 21 Jan 15 NAV (30 Nov 23) ₹35.3035 ↑ 0.47 (1.34 %) Net Assets (Cr) ₹2,508 on 31 Oct 23 Category Equity - ELSS AMC Motilal Oswal Asset Management Co. Ltd Rating Risk Moderately High Expense Ratio 1.68 Sharpe Ratio 1.04 Information Ratio 0.36 Alpha Ratio 7.44 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 30 Nov 18 ₹10,000 30 Nov 19 ₹11,201 30 Nov 20 ₹11,430 30 Nov 21 ₹16,020 30 Nov 22 ₹16,898 30 Nov 23 ₹21,332 Returns for Motilal Oswal Long Term Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 30 Nov 23 Duration Returns 1 Month 10.3% 3 Month 10% 6 Month 21.3% 1 Year 26.2% 3 Year 23.1% 5 Year 16.4% 10 Year 15 Year Since launch 15.3% Historical performance (Yearly) on absolute basis
Year Returns 2022 1.8% 2021 32.1% 2020 8.8% 2019 13.2% 2018 -8.7% 2017 44% 2016 12.5% 2015 2014 2013 Fund Manager information for Motilal Oswal Long Term Equity Fund
Name Since Tenure Niket Shah 17 Oct 23 0.04 Yr. Rakesh Shetty 22 Nov 22 0.94 Yr. Data below for Motilal Oswal Long Term Equity Fund as on 31 Oct 23
Equity Sector Allocation
Sector Value Financial Services 27.73% Consumer Cyclical 22.48% Health Care 19.33% Industrials 14.63% Technology 4.64% Real Estate 2.6% Utility 2.35% Basic Materials 1.61% Asset Allocation
Asset Class Value Cash 4.64% Equity 95.36% Top Securities Holdings / Portfolio
Name Holding Value Quantity Trent Ltd (Consumer Cyclical)
Equity, Since 31 Aug 22 | 5002516% ₹151 Cr 700,000
↓ -224,263 Global Health Ltd (Healthcare)
Equity, Since 30 Nov 22 | MEDANTA6% ₹143 Cr 1,825,000
↓ -14,603 IndusInd Bank Ltd (Financial Services)
Equity, Since 31 Mar 23 | INDUSINDBK5% ₹130 Cr 900,000
↑ 287,000 InterGlobe Aviation Ltd (Industrials)
Equity, Since 31 Jul 23 | INDIGO5% ₹129 Cr 525,000
↑ 28,514 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Oct 19 | CHOLAFIN5% ₹125 Cr 1,100,000
↑ 6,203 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Nov 18 | ICICIBANK5% ₹124 Cr 1,350,000
↑ 9,000 Infosys Ltd (Technology)
Equity, Since 31 Aug 20 | INFY5% ₹116 Cr 850,000
↓ -200,000 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Oct 23 | 5433205% ₹116 Cr 11,000,000
↑ 11,000,000 Mankind Pharma Ltd (Healthcare)
Equity, Since 31 May 23 | 5439045% ₹113 Cr 650,000
↓ -5,050 Fortis Healthcare Ltd (Healthcare)
Equity, Since 31 Aug 21 | 5328434% ₹97 Cr 3,000,000
↓ -67,595
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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Nice article