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Top 5 Best Tax Saving ELSS Mutual Funds for FY 24 - 25
Best elss Funds or Equity Linked Savings Schemes (Tax Saving) are equity diversified Mutual Funds that majorly invest in equity-linked instruments (like shares and stocks) to provide Market-linked returns. Typically, 80% of the fund corpus is invested in equity and the remaining in debt instruments.
Best ELSS funds are also known as the tax saving Mutual Funds as they offer tax benefits under Section 80C of the income tax Act. Moreover, the ELSS Mutual Funds are open-ended, which means that the investors can subscribe in these funds as and when they want.
However, before Investing in these tax saving Mutual Funds, it is suggested to consider a list of best ELSS funds.
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Top 5 ELSS Funds To Invest In FY 24 - 25
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) BOI AXA Tax Advantage Fund Growth ₹162.69
↑ 0.81 ₹1,436 -5.9 1.6 31.6 16.4 24.5 34.8 Principal Tax Savings Fund Growth ₹477.018
↑ 1.57 ₹1,351 -3.9 3.8 21.7 12.3 18.4 24.5 Mahindra Mutual Fund Kar Bachat Yojana Growth ₹26.7727
↑ 0.11 ₹925 -5.8 2.9 20.4 12.3 17.9 25.8 BNP Paribas Long Term Equity Fund (ELSS) Growth ₹92.0318
↑ 0.71 ₹942 -0.8 7.6 32.6 14.2 17.7 31.3 PGIM India Tax Savings Fund Growth ₹32.99
↑ 0.15 ₹756 -2.5 7.3 19.5 11.7 17.6 19.5 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Nov 24
The Scheme seeks to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities across all market capitalisations. The Scheme is in the nature of diversified multi-cap fund. The Scheme is not providing any assured or guaranteed returns.(There can be no assurance that the investment objectives of the Scheme will be realized.) BOI AXA Tax Advantage Fund is a Equity - ELSS fund was launched on 25 Feb 09. It is a fund with Moderately High risk and has given a Below is the key information for BOI AXA Tax Advantage Fund Returns up to 1 year are on To build a high quality growth-oriented portfolio to provide long-term capital gains to the investors, the scheme aims at providing returns through capital appreciation. Principal Tax Savings Fund is a Equity - ELSS fund was launched on 31 Mar 96. It is a fund with Moderately High risk and has given a Below is the key information for Principal Tax Savings Fund Returns up to 1 year are on The investment objective of the Scheme is to generate long-term capital appreciation through a diversified portfolio of equity and equity related securities. The Scheme does not guarantee or assure any returns. Mahindra Mutual Fund Kar Bachat Yojana is a Equity - ELSS fund was launched on 18 Oct 16. It is a fund with Moderately High risk and has given a Below is the key information for Mahindra Mutual Fund Kar Bachat Yojana Returns up to 1 year are on The investment objective of the Scheme is to generate long-term capital growth from a diversified and actively managed portfolio of equity and equity related securities along with income tax rebate, as may be prevalent fromtime to time. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns. BNP Paribas Long Term Equity Fund (ELSS) is a Equity - ELSS fund was launched on 5 Jan 06. It is a fund with Moderately High risk and has given a Below is the key information for BNP Paribas Long Term Equity Fund (ELSS) Returns up to 1 year are on "The primary objective of the Scheme is to generate long-term capital appreciation by predominantly investing in equity & equity related instruments and to enable eligible investors to
avail deduction from total income, as permitted under the Income Tax Act, 1961 as amended from time to time. However, there is no assurance that the investment objective
shall be realize" PGIM India Tax Savings Fund is a Equity - ELSS fund was launched on 11 Dec 15. It is a fund with Moderately High risk and has given a Below is the key information for PGIM India Tax Savings Fund Returns up to 1 year are on 1. BOI AXA Tax Advantage Fund
CAGR/Annualized return of 19.4% since its launch. Ranked 13 in ELSS category. Return for 2023 was 34.8% , 2022 was -1.3% and 2021 was 41.5% . BOI AXA Tax Advantage Fund
Growth Launch Date 25 Feb 09 NAV (19 Nov 24) ₹162.69 ↑ 0.81 (0.50 %) Net Assets (Cr) ₹1,436 on 31 Oct 24 Category Equity - ELSS AMC BOI AXA Investment Mngrs Private Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.37 Sharpe Ratio 2.34 Information Ratio 0.53 Alpha Ratio 9.3 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Oct 19 ₹10,000 31 Oct 20 ₹11,437 31 Oct 21 ₹18,517 31 Oct 22 ₹18,708 31 Oct 23 ₹21,227 31 Oct 24 ₹30,948 Returns for BOI AXA Tax Advantage Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -5.2% 3 Month -5.9% 6 Month 1.6% 1 Year 31.6% 3 Year 16.4% 5 Year 24.5% 10 Year 15 Year Since launch 19.4% Historical performance (Yearly) on absolute basis
Year Returns 2023 34.8% 2022 -1.3% 2021 41.5% 2020 31.2% 2019 14.6% 2018 -16.3% 2017 57.7% 2016 -1.2% 2015 2.1% 2014 44% Fund Manager information for BOI AXA Tax Advantage Fund
Name Since Tenure Alok Singh 27 Apr 22 2.52 Yr. Data below for BOI AXA Tax Advantage Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Financial Services 26.27% Industrials 16.29% Basic Materials 15.38% Technology 10.7% Consumer Cyclical 5.46% Utility 4.64% Energy 3.81% Consumer Defensive 3.78% Health Care 3.53% Real Estate 1.52% Communication Services 0.99% Asset Allocation
Asset Class Value Cash 7.63% Equity 92.37% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK5% ₹76 Cr 440,000
↑ 20,000 State Bank of India (Financial Services)
Equity, Since 31 Oct 21 | SBIN4% ₹62 Cr 752,000 Vedanta Ltd (Basic Materials)
Equity, Since 31 Mar 24 | 5002954% ₹56 Cr 1,211,000 Prudent Corporate Advisory Services Ltd (Financial Services)
Equity, Since 31 Oct 23 | 5435273% ₹40 Cr 130,000 NTPC Ltd (Utilities)
Equity, Since 30 Apr 22 | 5325553% ₹39 Cr 955,000 Ami Organics Ltd (Basic Materials)
Equity, Since 31 May 24 | 5433492% ₹34 Cr 172,000 General Insurance Corp of India (Financial Services)
Equity, Since 29 Feb 24 | GICRE2% ₹31 Cr 850,696 Reliance Industries Ltd (Energy)
Equity, Since 30 Nov 18 | RELIANCE2% ₹30 Cr 228,000 Siemens Ltd (Industrials)
Equity, Since 30 Jun 22 | 5005502% ₹29 Cr 41,000 Hindustan Aeronautics Ltd Ordinary Shares (Industrials)
Equity, Since 31 Jul 23 | HAL2% ₹28 Cr 67,000 2. Principal Tax Savings Fund
CAGR/Annualized return of 16.1% since its launch. Ranked 8 in ELSS category. Return for 2023 was 24.5% , 2022 was 4.3% and 2021 was 32.1% . Principal Tax Savings Fund
Growth Launch Date 31 Mar 96 NAV (19 Nov 24) ₹477.018 ↑ 1.57 (0.33 %) Net Assets (Cr) ₹1,351 on 31 Oct 24 Category Equity - ELSS AMC Principal Pnb Asset Mgmt. Co. Priv. Ltd. Rating ☆☆☆☆ Risk Moderately High Expense Ratio 2.26 Sharpe Ratio 1.79 Information Ratio -0.48 Alpha Ratio -0.27 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Oct 19 ₹10,000 31 Oct 20 ₹10,092 31 Oct 21 ₹16,270 31 Oct 22 ₹16,978 31 Oct 23 ₹18,415 31 Oct 24 ₹24,132 Returns for Principal Tax Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -5.8% 3 Month -3.9% 6 Month 3.8% 1 Year 21.7% 3 Year 12.3% 5 Year 18.4% 10 Year 15 Year Since launch 16.1% Historical performance (Yearly) on absolute basis
Year Returns 2023 24.5% 2022 4.3% 2021 32.1% 2020 18.9% 2019 2.5% 2018 -9.2% 2017 48.8% 2016 6.2% 2015 2.7% 2014 49.4% Fund Manager information for Principal Tax Savings Fund
Name Since Tenure Sudhir Kedia 29 Oct 19 5.01 Yr. Rohit Seksaria 1 Jan 22 2.84 Yr. Data below for Principal Tax Savings Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Financial Services 32.06% Industrials 13.88% Consumer Cyclical 9.98% Health Care 7.87% Consumer Defensive 7.78% Technology 7.46% Energy 6.39% Communication Services 6.17% Basic Materials 3.67% Utility 0.69% Real Estate 0.5% Asset Allocation
Asset Class Value Cash 3.5% Equity 96.5% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 09 | HDFCBANK7% ₹105 Cr 606,077 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK7% ₹94 Cr 737,000
↑ 76,000 Reliance Industries Ltd (Energy)
Equity, Since 31 Dec 21 | RELIANCE5% ₹71 Cr 239,000
↓ -21,000 Infosys Ltd (Technology)
Equity, Since 31 Jan 09 | INFY4% ₹57 Cr 306,000
↓ -7,000 Sun Pharmaceuticals Industries Ltd (Healthcare)
Equity, Since 31 Aug 15 | SUNPHARMA3% ₹39 Cr 200,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Sep 17 | 5322153% ₹38 Cr 311,000 Bharti Airtel Ltd (Partly Paid Rs.1.25) (Communication Services)
Equity, Since 30 Nov 21 | 8901573% ₹37 Cr 283,000 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Mar 13 | LT2% ₹35 Cr 96,021 State Bank of India (Financial Services)
Equity, Since 30 Apr 05 | SBIN2% ₹35 Cr 444,000 InterGlobe Aviation Ltd (Industrials)
Equity, Since 31 Oct 22 | INDIGO2% ₹30 Cr 63,000 3. Mahindra Mutual Fund Kar Bachat Yojana
CAGR/Annualized return of 12.9% since its launch. Return for 2023 was 25.8% , 2022 was 2% and 2021 was 39.4% . Mahindra Mutual Fund Kar Bachat Yojana
Growth Launch Date 18 Oct 16 NAV (19 Nov 24) ₹26.7727 ↑ 0.11 (0.42 %) Net Assets (Cr) ₹925 on 31 Oct 24 Category Equity - ELSS AMC Mahindra Asset Management Company Pvt. Ltd. Rating Risk Moderately High Expense Ratio 2.26 Sharpe Ratio 1.54 Information Ratio -0.76 Alpha Ratio -4.01 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Oct 19 ₹10,000 31 Oct 20 ₹9,506 31 Oct 21 ₹15,916 31 Oct 22 ₹16,197 31 Oct 23 ₹18,010 31 Oct 24 ₹23,200 Returns for Mahindra Mutual Fund Kar Bachat Yojana
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -5.7% 3 Month -5.8% 6 Month 2.9% 1 Year 20.4% 3 Year 12.3% 5 Year 17.9% 10 Year 15 Year Since launch 12.9% Historical performance (Yearly) on absolute basis
Year Returns 2023 25.8% 2022 2% 2021 39.4% 2020 14.1% 2019 4.5% 2018 -9.8% 2017 24.8% 2016 2015 2014 Fund Manager information for Mahindra Mutual Fund Kar Bachat Yojana
Name Since Tenure Manish Lodha 21 Dec 20 3.87 Yr. Fatema Pacha 16 Oct 20 4.05 Yr. Data below for Mahindra Mutual Fund Kar Bachat Yojana as on 31 Oct 24
Equity Sector Allocation
Sector Value Financial Services 32.04% Industrials 13.22% Consumer Cyclical 11.63% Technology 8.74% Basic Materials 8.7% Energy 6.58% Consumer Defensive 5.87% Health Care 3.61% Utility 3.2% Communication Services 2.62% Asset Allocation
Asset Class Value Cash 3.79% Equity 96.21% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 16 | HDFCBANK10% ₹91 Cr 521,876 ICICI Bank Ltd (Financial Services)
Equity, Since 31 May 19 | ICICIBANK9% ₹80 Cr 622,620
↑ 37,000 Infosys Ltd (Technology)
Equity, Since 29 Feb 20 | INFY5% ₹46 Cr 260,000
↓ -55,807 Reliance Industries Ltd (Energy)
Equity, Since 31 Mar 18 | RELIANCE5% ₹44 Cr 332,308 Larsen & Toubro Ltd (Industrials)
Equity, Since 31 Aug 18 | LT4% ₹37 Cr 102,761 State Bank of India (Financial Services)
Equity, Since 29 Feb 24 | SBIN3% ₹32 Cr 386,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Apr 24 | 5322153% ₹28 Cr 245,000
↑ 40,000 Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 30 Apr 20 | HINDUNILVR3% ₹24 Cr 96,000 Voltas Ltd (Industrials)
Equity, Since 31 Aug 23 | VOLTAS2% ₹21 Cr 125,500 Tata Consultancy Services Ltd (Technology)
Equity, Since 31 May 19 | TCS2% ₹19 Cr 48,976
↓ -16,675 4. BNP Paribas Long Term Equity Fund (ELSS)
CAGR/Annualized return of 12.5% since its launch. Ranked 22 in ELSS category. Return for 2023 was 31.3% , 2022 was -2.1% and 2021 was 23.6% . BNP Paribas Long Term Equity Fund (ELSS)
Growth Launch Date 5 Jan 06 NAV (19 Nov 24) ₹92.0318 ↑ 0.71 (0.77 %) Net Assets (Cr) ₹942 on 31 Oct 24 Category Equity - ELSS AMC BNP Paribas Asset Mgmt India Pvt. Ltd Rating ☆☆☆ Risk Moderately High Expense Ratio 2.29 Sharpe Ratio 2.38 Information Ratio -0.1 Alpha Ratio 8.36 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Oct 19 ₹10,000 31 Oct 20 ₹10,298 31 Oct 21 ₹15,153 31 Oct 22 ₹14,620 31 Oct 23 ₹16,070 31 Oct 24 ₹23,232 Returns for BNP Paribas Long Term Equity Fund (ELSS)
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -4.8% 3 Month -0.8% 6 Month 7.6% 1 Year 32.6% 3 Year 14.2% 5 Year 17.7% 10 Year 15 Year Since launch 12.5% Historical performance (Yearly) on absolute basis
Year Returns 2023 31.3% 2022 -2.1% 2021 23.6% 2020 17.8% 2019 14.3% 2018 -9.3% 2017 42.3% 2016 -6.6% 2015 7.7% 2014 53% Fund Manager information for BNP Paribas Long Term Equity Fund (ELSS)
Name Since Tenure Sanjay Chawla 14 Mar 22 2.64 Yr. Pratish Krishnan 14 Mar 22 2.64 Yr. Miten Vora 1 Dec 22 1.92 Yr. Data below for BNP Paribas Long Term Equity Fund (ELSS) as on 31 Oct 24
Equity Sector Allocation
Sector Value Financial Services 28.51% Technology 14.6% Consumer Cyclical 11.36% Industrials 10.33% Basic Materials 7.47% Health Care 7.14% Consumer Defensive 5.34% Energy 4.07% Utility 3.6% Communication Services 1.89% Real Estate 1.2% Asset Allocation
Asset Class Value Cash 4.5% Equity 95.5% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 12 | ICICIBANK6% ₹53 Cr 411,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK5% ₹48 Cr 279,160 Infosys Ltd (Technology)
Equity, Since 29 Feb 24 | INFY4% ₹36 Cr 205,000 Trent Ltd (Consumer Cyclical)
Equity, Since 31 May 22 | 5002513% ₹30 Cr 42,414 Reliance Industries Ltd (Energy)
Equity, Since 31 Oct 18 | RELIANCE3% ₹28 Cr 213,200 Axis Bank Ltd (Financial Services)
Equity, Since 31 Aug 18 | 5322152% ₹24 Cr 203,000 PB Fintech Ltd (Financial Services)
Equity, Since 29 Feb 24 | 5433902% ₹23 Cr 132,500 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Jul 23 | 5433202% ₹22 Cr 920,813 Mrs Bectors Food Specialities Ltd Ordinary Shares (Consumer Defensive)
Equity, Since 31 Mar 24 | BECTORFOOD2% ₹22 Cr 117,132 Max Financial Services Ltd (Financial Services)
Equity, Since 30 Apr 24 | 5002712% ₹20 Cr 158,000
↓ -8,500 5. PGIM India Tax Savings Fund
CAGR/Annualized return of 14.3% since its launch. Return for 2023 was 19.5% , 2022 was 4.7% and 2021 was 37.5% . PGIM India Tax Savings Fund
Growth Launch Date 11 Dec 15 NAV (19 Nov 24) ₹32.99 ↑ 0.15 (0.46 %) Net Assets (Cr) ₹756 on 31 Oct 24 Category Equity - ELSS AMC Pramerica Asset Managers Private Limited Rating Risk Moderately High Expense Ratio 2.32 Sharpe Ratio 1.38 Information Ratio -0.53 Alpha Ratio -4.67 Min Investment 500 Min SIP Investment 500 Exit Load NIL Growth of 10,000 investment over the years.
Date Value 31 Oct 19 ₹10,000 31 Oct 20 ₹9,601 31 Oct 21 ₹15,628 31 Oct 22 ₹16,696 31 Oct 23 ₹17,892 31 Oct 24 ₹22,689 Returns for PGIM India Tax Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 19 Nov 24 Duration Returns 1 Month -3.7% 3 Month -2.5% 6 Month 7.3% 1 Year 19.5% 3 Year 11.7% 5 Year 17.6% 10 Year 15 Year Since launch 14.3% Historical performance (Yearly) on absolute basis
Year Returns 2023 19.5% 2022 4.7% 2021 37.5% 2020 17.9% 2019 8.2% 2018 -6.4% 2017 39.3% 2016 1.7% 2015 2014 Fund Manager information for PGIM India Tax Savings Fund
Name Since Tenure Bhupesh Kalyani 1 Apr 23 1.59 Yr. Vinay Paharia 1 Apr 23 1.59 Yr. Utsav Mehta 15 Apr 24 0.55 Yr. Vivek Sharma 15 Apr 24 0.55 Yr. Data below for PGIM India Tax Savings Fund as on 31 Oct 24
Equity Sector Allocation
Sector Value Financial Services 28.97% Industrials 14.93% Consumer Cyclical 10.13% Technology 9.56% Health Care 7.91% Consumer Defensive 7.65% Basic Materials 6.25% Energy 4.61% Communication Services 3.31% Utility 1.43% Real Estate 1.06% Asset Allocation
Asset Class Value Cash 4.07% Equity 95.8% Debt 0.12% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 15 | HDFCBANK7% ₹54 Cr 310,814 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Jan 16 | ICICIBANK6% ₹46 Cr 364,764 Reliance Industries Ltd (Energy)
Equity, Since 31 Aug 17 | RELIANCE5% ₹37 Cr 124,561 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 24 | 5000344% ₹34 Cr 43,500
↑ 43,500 Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 30 Sep 23 | 5403763% ₹24 Cr 46,699 Tata Consultancy Services Ltd (Technology)
Equity, Since 30 Apr 24 | TCS3% ₹23 Cr 53,406 Bharti Airtel Ltd (Communication Services)
Equity, Since 28 Feb 19 | BHARTIARTL3% ₹22 Cr 125,805 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 30 Nov 23 | CHOLAFIN3% ₹21 Cr 132,700 Larsen & Toubro Ltd (Industrials)
Equity, Since 30 Sep 17 | LT3% ₹21 Cr 56,417 Zomato Ltd (Consumer Cyclical)
Equity, Since 31 Dec 23 | 5433202% ₹18 Cr 661,249
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