These Two CRISIL-Ranked ELSS Funds Offered More Than 24% Returns In 3 Year

An Equity Linked Saving Scheme (ELSS) is a tax-saving mutual fund scheme that helps investors to save taxes under Section 80C of the Income Tax Act. Top funds are those which are consistently beating category returns and rated well in the ELSS category. ELSS funds are anticipated to experience a surge in inflows as the FY 2021-22 comes to an end and the tax-saving season approaches. These funds offer the most potential for long-term wealth development among tax-saving options. However, not all funds deliver on this promise, so before investing, investors should review the fund's track record. The two ELSS funds have generated good returns in long-term investment periods. In addition, Both the funds are ranked 2 by the rating agency CRISIL.

Mirae Asset Tax Saver Fund Direct-Growth

NAV	Fund Size	Expense Ratio
₹32.77	10971.85 Cr	0.41%

NAV as on 14 February 2022

Mirae Asset Tax Saver Fund Direct is an ELSS Fund from the house of Mirae Mutual Fund, launched on 20 November 2015. It is a medium-size fund of its category. Fund's growth plan Asset Under Management (AUM ) is Rs 10,972 Cr as of 31 December 2021. The fund's expense ratio as mentioned is 0.41%, which is less than its category average of 1.08%. Fund's Direct-Growth plan has given 17.83% returns in the last 1 year, how this returns is lower than its category average in the same horizon. In 2 years, 3 years, and 5 years the fund has outperformed its category average. Fund since launch has delivered 21.34% average annual returns, which is better than its annual category average returns. Funds' ability to control losses in a falling market is above average. It is a highly risky fund, but its performance is above average among peers. Investors who plan to invest for at least three years and are seeking extra benefits such as income tax savings in addition to greater expected profits can opt to invest in the fund. 

Annualized Returns

On investment of Rs 10,00

1-Year	2-Year	3-Year	5-Year	Since Inception
17.83%	27.10%	24.51%	20.41%	21.34%

 

Canara Robeco Equity Tax Saver Direct-Growth

NAV	Fund Size	Expense Ratio
₹119.60	₹ 3208.77 Cr	0.74%

NAV as on 14 February 2022

This is fund is from the house of Canara Robeco Mutual fund, launched 9 years bank in 2013. This fund is a medium-sized fund of its category. Canara Robeco Equity Tax Saver Direct-Growth has Rs 3,209 Crores worth of AUM as of 31 December 2021. The fund's expense ratio is less than what most other ELSS funds charge. The fund return is similar to its counterpart fund. It has delivered below category average returns in the last 1 year. However, in 2-year, 3-year, and 5 years the fund outperformed its category average returns. Since its inception, it has delivered 16.33% average annual returns, which is better than its annual category average returns. It has an above-average capacity to control losses in a sinking market. For investment, it is a highly risky fund to invest. However, its performance among its peers is above average. Investors who want to invest for at least three years and receive extra benefits such as income tax savings in addition to greater expected profits can participate in the fund. However, the fund doesn't guarantee returns.

Annualized Returns

On Investment of Rs 10,000

1-Year	2-Year	3-Year	5-Year	Since Inception
15.72%	24.88%	18.99%	15.68%	16.33%

Disclaimer

Mutual fund investments are subject to market risk. Read all scheme-related documents, Terms and Conditions carefully before investing. The above-mentioned information is purely informational and carried forward from CRISIL and MoneyControl. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.