ELSS isn't all about tax savings, these 10 funds help grow your wealth too
Equity-Linked Saving Schemes (ELSS) or tax-saving equity funds stand out due to their lowest lock-in and pure equity-linked return in the crowded Section 80C tax deduction basket. ELSS have delivered better return if held for long-term
ELSS or Equity-Linked Savings Schemes do not just help you save taxes, they also help you grow your wealth. ELSS offers Section 80C tax deduction benefits up to an investment of Rs 1.5 lakh, under the old tax regime. In return, your money is locked up for three years. There's an interesting fact. A Moneycontrol research shows that ELSS proves just as handy in wealth creation as diversified equity fund over the long run. An analysis of 7-year returns over the last 13 years shows that the ELSS schemes gave an annual return of 13.4%, while the Nifty 50 – TRI gave 12.8%. Here, we have compiled a list of top ELSS based on the 7-year rolling returns calculated from the last 13-year period. Only schemes with at least 13 years’ track record were considered.
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Quant ELSS Tax Saver Fund Average 7-year rolling return (CAGR): 19.1% Latest corpus: Rs 9,860 crore
