Quant Tax Plan To Mirae Asset Tax Saver Fund: Top 5 ELSS Mutual Funds – News18

Equity Linked Saving Scheme (ELSS) funds are equity mutual funds that allow investors to save tax. Investments in these funds are eligible for tax deduction under section 80C. A major advantage of investing in these funds is that they offer higher return compared to traditional savings instruments.

Here are top 5 ELSS funds that have given substantial returns to investors. The 5-year average return of these funds has been around 17 to 26 percent and the 3-year average return has been 25 to 36 percent.

Here are the top 5 ELSS mutual funds:

1. Quant Tax Plan Fund Direct Plan – Growth

The direct growth plan of Quant Tax Plan Fund has reaped huge dividends for investors in the last three and five years. The average return of this fund in three years stood around 36.34 percent, while in five years it has given an annualised return of 28.22 percent. This fund was launched on January 1, 2013, and its assets under management (AUM) stand at Rs 4,425 crore.

2. Bank of India Tax Advantage Fund

The Direct Growth Plan of the Bank of India Tax Advantage Fund is also among the ELSS funds that have given high returns. The three-year annualised return of this fund has been 25.23 percent and the five-year average return has been 22.21 percent. This scheme was launched in 2013 and its AUM now stands at Rs 888.58 crore.

3. Mirae Asset Tax Saver Fund Direct Growth

Mirae Asset Tax Saver Fund Direct Growth scheme has given 23.60 percent annualised returns to investors in the last three years. Its average return in five years has been nearly 20 percent. The total AUM of the scheme now stands at Rs 17,419 crore.

4. Bandhan Tax Advantage Fund Direct Growth

Bandhan Tax Advantage Fund was launched on January 1, 2013, and its AUM currently stands at more than Rs 5100 crore. The ELSS fund has given 31.52 percent annualised return to investors in the last three years while in the last five years the investors have seen nearly 20 percent growth in their investment.

5. Kotak Tax Saver Fund Direct Growth

The direct growth plan of Kotak Tax Saver Fund has also given substantial returns to the investors. The three-year annualised return of this ELSS fund stands at 25.25 percent while in the last five years the fund has given a return of 19.34 percent. The total AUM of Kotak Tax Saver Fund currently stands at Rs 4198.6 crore.