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Tuesday, February 14, 2017

Look carefully at the portfolio of an ELSS

 

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There is more to a tax-saving fund than just its performance. It must fit into your portfolio.
 

Though all equity diversified funds that offer a tax break are classified as equity linked savings schemes, or ELSS, all funds are not the same.

For one, you need to check the market cap of the fund. For instance, Mirae Asset Tax Saver has around 72% of its portfolio in large caps, HSBC Tax Saver has around 34% in mid and small caps, and Edelweiss ELSS has 44% of its portfolio in mid and small caps. Depending on what market cap you are comfortable with and which fits in with your portfolio, search for a fund accordingly. For instance, if your portfolio is packed with large-cap funds, you can opt for an ELSS which tilts towards smaller fare.

On similar lines, check whether the fund manager takes big bets or prefers going with a diversified portfolio, and see where your comfort level lies.

For example, the top 10 stocks in JM Tax Gain corner over 51% of the portfolio. The portfolio is completely invested in around 30 stocks. Edelweiss ELSS has just around 32% of its portfolio in the top 10 stocks and sports a portfolio of around 64 stocks.

So check how concentrated the top holdings are and how tight the portfolio is.

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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 2017

Best 10 ELSS Mutual Funds in india for 2017

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

Invest in Best Performing 2017 Tax Saver Mutual Funds Online

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