Top ELSS Funds: There is no doubt that the real benefit of mutual funds scheme is found only in the long term. Actually, through mutual funds, investors get the tremendous benefit of compounding along with attractive returns of the stock market. This is the reason that the longer the investment is made in mutual funds, the stronger the return investors will get. But many mutual funds schemes have given tremendous returns in a short period of 1 year. Here we will know about those 5 ELSS schemes, which have given a huge return of 81 percent along with tax benefits in the last 1 year.
SBI Long Term Equity Fund
SBI Long Term Equity Fund has given a return of 56.94 percent to its investors in the last 1 year. The current size of this ELSS fund of SBI is Rs 28,000 crore.
DSP ELSS Tax Saver Fund
DSP ELSS Tax Saver Fund has given a return of 57.09 percent in the last one year. Its current fund size is Rs 17,488 crore.
HSBC ELSS Tax Saver Fund
HSBC ELSS Tax Saver Fund has given investors a return of 61.44 percent in the last 1 year. Its current fund size is around Rs 4421 crore.
JM ELSS Tax Saver Fund
Motilal Oswal ELSS Tax Saver Fund
Motilal Oswal's ELSS Tax Saver Fund has given a return of 81.29 percent to its investors in the last one year. The current size of this fund is around Rs 3984 crore.
You get the benefit of tax exemption in ELSS
Let us tell you that ELSS Funds are also included in different categories of mutual funds. The full name of ELSS is Equity-Linked Savings Scheme. The name of ELSS itself tells us that it is an equity linked savings scheme. The returns on investments made in ELSS mutual funds can be availed for tax exemption under Section 80C of the Income Tax Act, 1961. ELSS Funds come with a lock-in period of 3 years and 80 percent of the investment made in it goes into equity.
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