Upwardly presents to you the Top 10 ELSS funds for 2019 – 2020
|Rank||Fund Name||Returns (5YRS)||Growth of ₹1 lakh in 5 years*||Invest|
|1||Aditya Birla Sun Life Tax Relief 96||18.69%||₹2.36 lakhs||Invest|
|2||Axis Long Term Equity||18.22%||₹2.31 lakhs||Invest|
|3||Invesco India Tax Plan||17.85%||₹2.27 lakhs||Invest|
|4||DSP Tax Saver Fund||18.00%||₹2.29 lakhs||Invest|
|5||IDFC Tax Advantage (ELSS) Fund||17.15%||₹2.21 lakhs||Invest|
|6||Kotak Taxsaver Fund||17.08%||₹2.20 lakhs||Invest|
|7||Principal Tax Savings||16.49%||₹2.14 lakhs||Invest|
|8||ICICI Prudential Long Term Equity Fund (Tax Saving)||15.20%||₹2.03 lakhs||Invest|
|9||Canara Robeco Equity Taxsaver||14.86%||₹2.00 lakhs||Invest|
|10||L&T Tax Advantage Fund||15.06%||₹2.02 lakhs||Invest|
Here are Upwardly recommended Top 5 ELSS funds you can invest in 2019.
One of the oldest and also one of the best ELSS funds, this fund has generated outperformance over the last 5 years. The fund follows a multi-cap, bottom-up strategy. It hunts for companies run by professional management, which have the predictability of earnings and strong moats. The three and five-year returns are now over 1-5 percentage points ahead of the benchmark returns and 1-3 percentage points more than the category returns. The management team has remained very stable since 2006, with Ajay Garg at the helm. A SIP of ₹5,000 p.m. in this fund started 5 years ago is worth ₹4.13 lakhs now.
This fund is one among the top 5 ELSS funds. The fund’s investment strategy focuses on buying quality growth stocks. While selecting stocks, the fund looks for superior and scalable businesses, a high return on capital and secular growth. Consistent performance has led to its asset size burgeon from a mere Rs 4 crore at launch to over Rs 17,000 crore. The fund’s five-year returns are about 5 percentage points higher than its benchmark and 3 percentage points more than its category returns. Its performance in 2011, showed an ability to contain losses in a falling market. A SIP of ₹5,000 p.m. in this fund started 5 years ago is worth ₹4.09 lakhs now.
This ELSS tax saver is a diversified portfolio of equity securities. It is dominated by large and mid-caps which are growth oriented. The fund predominantly invested in mid caps until late 2015, but later changed its strategy and cut down on mid caps and increase its allocation to large caps. The three-year return is now over 1 percentage points ahead of both benchmark and category returns. The five-year record shows an outperformance of 5 percentage points compared to the benchmark returns and 3 percentage point more than the category returns. A SIP of ₹5,000 p.m. in this fund started 5 years ago is worth ₹4.10 lakhs now.
The primary investment objective of the fund is to seek to generate medium to long-term capital appreciation from a diversified portfolio that is substantially constituted of equity and equity related securities of corporates and to enable investors avail of a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time. The fund’s five-year returns are 3 percentage points higher than its benchmark and category returns. A SIP of ₹5,000 p.m. in this fund started 5 years ago is worth ₹4.10 lakhs now.
The aim of the fund is to maximize wealth for long-term investors. The fund manager picks only those stocks that have strong fundamentals and reasonable valuations. The fund has a well-diversified portfolio of stocks of companies across market capitalization and sectors. Only those stocks are picked which have strong fundamentals and reasonable valuations. The three-year return is now over 2 percentage points ahead of both benchmark and category returns. The five-year record shows an outperformance of 4 percentage points compared to the benchmark returns and 2 percentage point more than the category returns. A SIP of ₹5,000 p.m. in this fund started 5 years ago is worth ₹4.06 lakhs now.
ELSS Mutual Funds
Looking to save taxes under Section 80C of the Income Tax Act this tax-saving season? Equity Linked Saving Schemes (ELSS) or tax planning mutual fund schemes are ideal to save taxes up to Rs 1.5 lakh under Section 80C.
ELSS mutual funds are the best tax saving option because:
1. ELSSs come with a shortest mandatory lock-in period of three years. Other investment options like National Savings Certificate and Public Provident Fund permitted under Section 80C have a longer lock-in period.
2. ELSSs invest mostly in stocks which make them ideal for long-term wealth creation. The mandatory lock-in can actually be a blessing as it helps many investors, especially the new ones, to weather the volatility in the stock market.
Start your SIP in the best ELSS funds at www.Upwardly.in.