BNP Paribas Long Term Equity Fund - Top Tax Saving fund for 2016

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 The scheme aims to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent from time to time.

 

After a patchy performance in the first three years after launch, this fund has turned out to be a consistent outperformer in the last five years. It has managed a steady climb in the ratings from three stars in 2012 to five stars. This fund follows the business-management-valuation framework to select stocks. Business fundamentals are analysed based on the parameters like uniqueness of business model, moat and management's execution capability. Growth at a reasonable price (GARP) is the philosophy that is followed while assessing valuations. This is a large-cap-tilted fund within the ELSS category. Sixty per cent of the assets have been regularly parked in large-cap stocks, with mid caps taking up 30 per cent and small caps the rest. Cash calls aren't common and cash is usually kept less than 10 per cent of the portfolio.

The fund has outpaced its benchmark by more or less uniform margins over three, five and seven years. Annual returns also reveal that the fund tends to outdo the indices by moderate margins each year. Year 2014 alone was an exception with the outperformance widening to 17 percentage points. The market fancy for quality stocks and companies with earnings visibility played out in the fund's favour during this phase. Whether such a large margin of excess returns can be sustained in a cyclical bounce back needs to be seen.

It's a growth-oriented fund meant for conservative investors.

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Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

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