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Tax saving via mutual funds: Top five schemes that gave up to 27% returns in last fiscal

While the Sensex logged 11.30 per cent gains, the Nifty rose 18.55 per cent during the last fiscal.

Aseem Thapliyal        Last Updated: April 6, 2018  | 13:06 IST
Tax saving via mutual funds: Top five schemes that gave up to 27% returns in last fiscal

With the imposition of 10% long-term capital gains tax on equities in Union Budget 2018, the asset class is being compared with others forms of investments in term of returns. Yet, there are some funds which outperformed the Sensex and Nifty during the last fiscal and managed to save some taxes for their investors too. While the Sensex logged 11.30 per cent gains, the Nifty rose 18.55 per cent during the last fiscal. We list out top five performers (according to Morning Star) in the equity-linked saving schemes (ELSS) category during the last fiscal (April 1, 2017 to March 31, 2018), which gave up to 27% returns to their investors.

BOI AXA Tax Advantage Regular Growth: 27.76734%

It is an equity tax saving fund. Its asset size as on February 28, 2018 stood at Rs 145 crore. The expense ratio stood at 2.76%. The scheme consists of predominantly equity and equity-related securities across all market capitalisations. The scheme is in the nature of diversified multi-cap fund. The fund was launched on February 25, 2009 and its benchmark of returns is Nifty 50 total return. The fund delivered 21.01% percent returns since launch. The open ended fund has peers such as Axis Long Term equity fund, DSP BlackRock Tax Saver Fund and L&T Tax Advantage Fund.


IDFC Tax Advantage (ELSS) Regular Growth: 22.42%

It is an equity tax saving fund.  Its asset size as on Feb 28, 2018 stood at Rs 1,084 crore. The expense ratio stood at 2.05%. The fund was launched on December 26, 2008 and its benchmark of returns is BSE 200.  The fund delivered 20.86% percent returns since launch. The open-ended fund has peers such as Axis Long Term Equity Fund, BOI AXA Tax Advantage Fund - Regular Plan, L&T Tax Advantage Fund and DSP BlackRock Tax Saver Fund.

Motilal Oswal L/T Equity Regular Growth:
20.25%

It is an equity tax saving fund. Its asset size as on Feb 28, 2018 stood at Rs 852 crore. The expense ratio stood at 2.64%.  The fund was launched on January 21, 2015 and its benchmark of returns is Nifty 500. The fund delivered 20.19% percent returns since launch.  The open-ended fund has peers such as Axis Long Term Equity Fund, BOI AXA Tax Advantage Fund - Regular Plan, L&T Tax Advantage Fund, DSP BlackRock Tax Saver Fund and IDFC Tax Advantage (ELSS) Fund - Regular Plan.

Taurus Tax Shield Growth: 19.68%

It is an equity tax saving fund.  Its asset size as on February 28, 2018 stood at Rs 52 crore. The expense ratio stood at 2.67%.  The fund was launched on March 31, 1996 and its benchmark of returns is BSE 200 TRI. The fund delivered 11.77% percent returns since launch.  The open ended fund has peers such as Aditya Birla Sun Life Tax Plan, Principal Tax Savings Fund and Tata India Tax Savings Fund.

Aditya BSL Tax Relief 96 Growth: 18.16%

It is an equity tax saving fund. Its asset size as on February 28, 2018 stood at Rs 5,032 crore. The expense ratio stood at 2.12%.  The fund was launched on March 29, 1996 and its benchmark of returns is BSE 200. The fund delivered 25.55% percent returns since launch. The open ended fund has peers such as Aditya Birla Sun Life Tax Plan, Escorts Tax Plan, Principal Tax Savings Fund and Tata India Tax Savings Fund.

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