In 2024, the top five tax-saving mutual funds, known as ELSS, have given awesome returns of over 25%! There are 38 funds in total in this category. The top fund is Motilal Oswal ELSS Tax Saver Fund, which made about 45.36% profit this year. Close behind are the HSBC ELSS Tax Saver Fund with 32.97% and the JM ELSS Tax Saver Fund with 27.58% returns.
Other good performers include WOC ELSS Tax Saver Fund at 27.46% and SBI Long Term Equity Fund at about 26.68%. The Franklin India ELSS Tax Saver Fund gave two cool returns of 21.48%, followed closely by the Kotak ELSS Tax Saver Fund at 21.41%. The largest fund, Axis ELSS Tax Saver Fund, returned around 16.98%. Sadly, the Samco ELSS Tax Saver Fund and Quant ELSS Tax Saver Fund had lower returns of 9.10% and 8.06% respectively.
Who Did Better?
27 of the 38 funds exceeded their expected returns! Both the Motilal Oswal ELSS and HSBC ELSS funds did especially well compared to their benchmarks. For example, SBI Long Term Equity Fund posted a profit of 26.68% while its benchmark only managed 15.20%.
Funds like Franklin India and Kotak also outperformed their benchmarks. Nippon India ELSS Tax Saver Fund and Mirae Asset ELSS Tax Saver Fund gave decent returns of 17.55% and 17.18%, both beating their benchmarks of 15.70%. Axis ELSS delivered 16.98%, better than its benchmark too.
Some Funds Lag Behind
On the other hand, funds like PGIM India ELSS and Sundaram ELSS did not match their benchmarks. Bandhan ELSS only provided 12.96%, lower than its benchmark return.
Overall, the average return from these ELSS funds in 2024 was around 19.31%. The benchmarks for these funds, the NIFTY 500 – TRI and BSE 500 – TRI gave returns of 15.70% and 15.20% respectively.
This information helps us look at how these mutual funds performed this year. Remember, it’s always good to think about your personal finances before you invest!
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