Stock markets have rallied and rallied sharply in 2014. While the benchmark indices have given returns in excess of 30 per cent this year, select mutual funds have generated yields of even 80 per cent. Here are 5 ELSS schemes that have generated super returns in 2014.
Reliance Tax Saver has given a return of almost 77 per cent in the last one year. This is superb returns and beats returns even when one compares to benchmark indices. The fund has a solid portfolio comprising stocks like TVS Motors, State Bank of India, Tata Steel etc.
IDBI Equity Advantage
IDBI Equity Advantage has given returns of close to 68 per cent since the start of the year. The fund has given a three year returns of close to 20 per cent. Again the fund comprises of blue chip stocks like Eicher Motors, TVS Motors, Wabco etc.
Axis Long Term Equity Fund
The performance of the fund again compares well with peers. The fund has generated a return of almost 64 per cent in the last one year. Should the markets rally the fund has the potential to generate even higher returns. The portfolio comprises stocks like HDFC Bank, Kotak Mahindra Bank, Larsen and Toubro and Tata Consultancy.
Escorts Tax is among the few other ELSS schemes that have generated good returns in the last one year. The fund has given yield of 56 per cent year to date. The portfolio comprises stocks like Ranbaxy, IDFC, Shriram Transport etc.
Kotak Tax Saver
Kotak Tax Saver has given year to date yields of 57 per cent. The portfolio comprises blue chip stocks including the likes of ICICI Bank, Infosys and HDFC Bank.
While ELSS schemes have generated good returns in the last one year, there is no guarantee that there might be exceptional performance next year. To replicate the performance in 2015 maybe a herculean effort.