ELSS Funds in India That Have Been the Best Performers Since Their Launch

Check these 8 high performing ELSS funds

  • ELSS is a popular investment for its tax benefits

  • High-performing ELSSs have delivered strong returns on top of the tax savings 

  • Historic performance should be one of the several considerations while selecting a fund scheme

You can save tax on an income of up to Rs 1.5 lakhs every year through mutual funds. This is possible if you invest in Equity-linked Saving Schemes (ELSS) and claim benefits under section 80C of the Income Tax Act.

However, being an investment, you would expect a handsome return over and above the tax savings made. If you have already invested in an ELSS you would be interested to know the return for the years you have been investing. But if you are planning to select one afresh, the historic performance of the ELSS is an important criterion.

Also Read: Is the ELSS mutual funds growth story over? Find the latest on ELSS

Here are 8 ELSS funds that have excelled since their launch until May 2023.

  1. HDFC Taxsaver - HDFC Taxsaver regular plan has generated a 23% return since its launch. This scheme was launched in March 1996. Its direct plan has given a return of 13.26%.

  2. Parag Parikh Taxsaver - The direct plan of this scheme has generated a 22.98% return since it was launched in July 2019. The regular plan also had a decent return of 21.44% since launch.

  3. Aditya Birla Sun Life Tax Relief 96 - Since its launch on New Year’s Day 2013, the regular plan of this mutual fund scheme has given a return of 21.44% while the direct plan has given a 13.44% return. 

  4. Franklin India Taxshield - Launched in April 1999, Franklin India Taxshield regular plan has clocked a 20.63% return in the last 24 odd years. The direct plan of this scheme has delivered 14.67% in return since launch.

Also Read: What are passive ELSS funds? Should you invest in passive ELSS funds?

  1. Quant Tax Plan - This Nifty 500 Total Return Index tracking scheme was launched in March 2000. Its direct plan has given a return of 20.07% since launch, while the regular plan has managed a return of 14.69%.

  2. Mirae Asset Taxsaver - Launched in December 2015, the Mirae Asset Taxsaver direct plan has garnered an 18.75% return while the regular plan clocked 17.12% since launch.

  3. ICICI Prudential Long-term Equity Tax Saving - The regular plan of this scheme has seen a return of 18.95% while the direct plan gave a return of 14.92%. This ELSS was launched in August 1999.  

  4. Tata India Tax Saving - Since its launch in October 2014, the Tata India Tax Saving regular plan has delivered a return of 18.13% while the direct plan’s return was 16.22%. 

Also ReadExit Strategies for ELSS

Notably, all of these eight ELSSs follow the NIFTY 500 Total Return Index as the benchmark index. Apart from legacy returns, consider other factors like exit load, expense ratio, asset portfolio, etc. while selecting your ELSS. Being equity investments, it is recommended that you stay invested for a longer period.

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.



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