Dear Investors,
Equity Linked Savings Schemes (ELSS) are equity oriented mutual fund schemes where investors are given tax benefits to encourage them to invest in equity markets. Investors in these schemes get the dual benefits of tax savings and an opportunity to earn higher returns. ELSS funds power pack these benefits with a lock-in period as low as 3 years. They also provide substantially higher returns than traditional tax saving products like NSC and PPF. As per Section 80C of the Income Tax Act, investments upto Rs 1 lakh in ELSS is eligible for deduction from an individual’s taxable income. Investors in the highest tax bracket can save upto Rs.30,900 every year by investing in these schemes.
In the ELSS space there are total 35 schemes where few schemes like Canara Robeco Equity Taxsaver, ICICI Prudential Tax Plan andFranklin India Taxshield, Reliance Tax saver & HDFC Tax Saver have proved to be consistent performers since their launch. The fact that these funds have comfortably managed to outperform their peers in the same category as well as their benchmark stands testimony to their impeccable track record. These funds have demonstrated a unique ability to race ahead of their peers when the markets are in an uptrend and contain the downside when market conditions turn sluggish. The lock-in period of 3 years also gives sufficient time for the value unlocking of mid and small cap stocks and gives the fund manager the flexibility to make strategic long term investments in a diversified portfolio chosen after careful fundamental research.
Report as on January 09, 2013
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Absolute Returns (%)
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Compounded Annualised (%)
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Scheme Name
|
NAV (Rs)
|
Launch Date
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QAAUM (Rs. Cr)
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3 Months
|
6 Months
|
1 Year
|
3 Years
|
Since Inception
|
Canara Robeco Equity Taxsaver
|
30.02
|
2-Feb-09
|
506.77
|
6.42
|
13.71
|
30.31
|
10.69
|
32.21
|
Franklin India Taxshield
|
244.79
|
10-Apr-99
|
905.21
|
7.71
|
15.09
|
29.39
|
10.63
|
26.16
|
HDFC Taxsaver
|
248.72
|
13-Jun-96
|
3447.62
|
6.62
|
14.16
|
26.44
|
7.70
|
27.92
|
ICICI Prudential Taxplan
|
161.86
|
19-Aug-99
|
1467.98
|
8.42
|
17.94
|
35.10
|
9.42
|
23.09
|
Reliance Tax Saver Fund
|
25.00
|
22-Sep-05
|
2104.51
|
7.33
|
16.51
|
44.56
|
10.50
|
13.44
|
Average
|
7.30
|
15.48
|
33.16
|
9.79
|
24.56
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Minimum
|
6.42
|
13.71
|
26.44
|
7.70
|
13.44
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Maximum
|
8.42
|
17.94
|
44.56
|
10.69
|
32.21
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Indices
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BSE Sensex
|
4.65
|
13.08
|
24.28
|
3.88
|
16.74
| |||
S&P Nifty
|
4.68
|
13.20
|
25.83
|
4.42
|
14.56
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