ELSS funds: A performance scan
Let us now zero in on the performance of some randomly selected ELSS funds over the mandatory lock-in period of 3 years as well as over a longer voluntary holding period of 5 years.
Published: 26th December 2022 07:17 AM | Last Updated: 26th December 2022 07:17 AM | A+A A-
Image used for representational purpose only.
In the last column, we commenced a discussion on Equity Linked Saving Schemes (ELSS) and its positioning as a pure Equity option for Tax Saving.
Let us now zero in on the performance of some randomly selected ELSS funds over the mandatory lock-in period of 3 years as well as over a longer voluntary holding period of 5 years.
Quant Tax Plan has an AUM of R2,327 crore. It currently holds Large Caps (72%), Mid Caps (25%) and Small Caps (3%). This fund has delivered returns of 39.44% over 3-years and 22.17% over 5-years.
Canara Robeco Equity Tax Saver Fund has an AUM of R 4,583 crore. It currently holds a mix of Large Caps (78%) and Mid Caps (21%) and Small Caps (1%). This fund has delivered returns of 20.58% over 3-years and 15.15% over 5-years.
Mirae Asset Tax Saver Fund has an AUM of R14,255 crore. It currently holds a mix of Large Caps (70%) and Mid Caps (24%) and Small Caps (6%). This fund has delivered returns of 19.06% over 3-years and 13.92% over 5-years.
Kotak Asset Tax Saver Fund has an AUM of R3,163 crore. It currently holds a mix of Large Caps (72%) and Mid Caps (24%) and Small Caps (4%). This fund has delivered returns of 18.67% over 3-years and 12.78% over 5-years.
DSP Tax Saver Fund has an AUM of R10,715 crore. It currently holds a mix of Large Caps (71%) and Mid Caps (24%) and Small Caps (5%). This fund has delivered returns of 18.41% over 3-years and 12.33% over 5-years.
Axis Long Term Equity Fund has an AUM of R31,583 crore. It currently holds a mix of Large Caps (74%) and Mid Caps (22%) and Small Caps (2%). This fund has delivered returns of 10.90% over 3-years and 10.15% over 5-years.
HDFC Taxsaver Fund has an AUM of R10,354 crore. It currently holds Large Caps (91%), Mid Caps (7%) and Small Caps (2%). This fund has delivered returns of 17.25% over 3-years and 8.86% over 5-years.
Franklin India Taxshield Fund has an AUM of R5,096 crore. It currently holds Large Caps (79%), Mid Caps (16%) and Small Caps (6%). This fund has delivered returns of 17.57% over 3-years and 10.82% over 5-years.
Investors in ELSS would do well to consider completing it during the early part of the year so that their compounding tenure increases. Or, simply plan it as a 36-month SIP at the start of a financial year.
Investors can plan a 36-month SIP
Franklin India Taxshield Fund has an AUM of R5,096 crore. HDFC Taxsaver Fund has an AUM of R10,354 crore. This fund has delivered returns of 17.25% over 3-years and 8.86% over 5-years. Investors in ELSS can simply plan it as a 36-month SIP at the start of a financial year.
Ashok Kumar
Head of LKW-India. He can be reached at ceolotus@hotmail.com
