By CNBC-TV18 Mar 7, 2019 8:40:33 PM IST (Published)
Get all your mutual fund related queries answered by our expert, Himanshu Srivastava, on our show Mutual Fund Corner.
Want to invest in mutual funds but don’t know how to go about it?
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Get all your mutual fund related queries answered by our expert, Himanshu Srivastava, senior analyst manager research, Morningstar Investment Advisers India, on our show Mutual Fund Corner.
Q: 28-year-old Monark Shah writes to us from Pune. I want to know best performing ELSS Fund? I had researched few and already started with Axis Long Term Equity Fund. I want to know about Reliance Tax Saver Fund. Please suggest should I opt for that or should I continue with that or switched to some other fund?
A: So any which ways you have an investment in one of the best tax saving fund in the industry that Axis Long Term Equity Fund. This fund is managed by Jinesh Gopani and has a strong track record over the long term. It's always better to meaningfully diversify one’s investment portfolio. So you can consider adding at least one more fund in your portfolio from the ELSS category. Some of the other ELSS funds that you can consider investing are:
| Group/Investment | Morningstar Analyst Rating | Morningstar Rating Overall | Return (in %) | ||
| 1-Yr | 3-Yr | 5-Yr | |||
| India OE ELSS (Tax Savings) | |||||
| Axis Long Term Equity Gr | Silver | ÙÙÙÙ | 0.87 | 15.22 | 18.42 |
| HDFC TaxSaver Gr | Silver | ÙÙÙ | -7.99 | 16.16 | 13.84 |
| Franklin India Taxshield Gr | Bronze | ÙÙÙÙ | -2.22 | 12.78 | 15.72 |
| L&T Tax Advantage Gr | Bronze | ÙÙÙÙ | -11.28 | 15.59 | 15.16 |
| Reliance Tax Saver Gr | Bronze | ÙÙ | -19.69 | 10.89 | 15.51 |
Going ahead, you can build exposure in these two funds, but the amount is significantly higher. Then there is no harm in adding another fund to this list. The idea should be to diversify risk but at the same time, you should not over diversify the portfolio.
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