Best Tax Saving Mutual Fund in India for 2014

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Best Tax Saving Mutual Funds for 2014

With so much confusion and hurry; different people chose different avenues of investment. Some rely on traditional instruments like PPF/NSC, some other go for safety of insurance, and a minority few also select ELSS Equity Linked Saving Schemes or best tax saving mutual funds

 

An ELSS is nothing but any other diversified equity mutual fund with the added advantage of tax benefit on the amount invested, under section 80C. An ELSScarries a lock-in period of 3 years and so it’s the only tax saving financial instrument with such a small lock-in duration than any other tax saving options

Another thing we commonly perceive is that for last few years our equity markets have performed badly; what with Lehman brother collapse in 2008 and so what would any ELSS fund have given to its investors. So lets check what has a few of the top performing tax saving mutual funds in India in 2012 or 2013

 

Canara Rebecco Equity Tax Saver    Invest Online

The best tax saving mutual fund in India on the basis of returns is Canara Rebecco Equity Tax Saver has given near to 13% over a period of last 3 years and 11% if we increase the time lag to 5 years. These staggering figures beat each and every other tax-saving instrument by a mile; be it the safe PPF or more versatile ULIP. Congratulations to all those who have made this ELSS fund a part of their portfolio

 

ICICI Prudential Tax Saver      Invest Online

Next best tax saving mutual fund on our category would be ICICI Prudential Tax Saver Fund fund which has 8% return in 5 years and astronomical 13.5% return in last 3 years duration on an annualized basis. Again, an open-ended diversified top ELSS mutual fund which is well managed and consistently gave very good returns to its investors

 

Religare Tax Plan    Invest Online

Another gem from this category would be Religare Tax Plan, a somewhat lesser known name in this ELSS arena. Religare Tax Plan is benchmarked against BSE 100 index where the fund manager follows a bottom picking strategy and holds around 30-40 stocks in the portfolio. This fund is another consistent performer with 9% return in 5 years and a very healthy 12% return in 3 years.

 

Normally what we have observed from the past trend is that if you are investing for a period of 3 years, you can see volatility in your returns but if you are investing for a period of 5 years, you would see comparatively less volatility. This trend is observed if we look at the Sensex rolling returns from Year 1990.

 

 

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