1. Canara Robeco Equity Taxsaver Fund
Canara Robeco Equity Tax Saver Fund is an ELSS mutual fund scheme launched on January 2, 2013, by Canara Robeco Mutual Fund. The fund has been rated 5 star by Value Research & 4 star by CRISIL, respectively. As of November 30, 2022, the fund has Rs 4,583 crore of assets under management (AUM) and its expense ratio is 0.61%. Its benchmark is S&P BSE 500 TRI. You can start investing in the find with Rs 500 via SIP and Rs 500 for a lump sum investment.
It has major investments in the Financial sector, followed by the Technology sector, Automobile sector and healthcare sector. The top holding of the fund includes ICICI Bank and HDFC Bank, It has major holdings in ICICI Bank, Infosys, Reliance, and State Bank of India (SBI).
2. Franklin India Taxshiled Fund
Franklin India Taxshiled Fund is another ELSS fund scheme that you can invest in 2023 recommended by the ICICI Direct. It was launched on April 10, 1999, by Franklin India Mutual Fund. The fund has been rated 3 star by Value Research and CRISIL, respectively. As on November 30, 2022, the fund has Rs 5,096 crore of AUM and its expense ratio is 1.90%. NIFTY 500 TRI is the fund’s benchmark. To begin investing in this fund, the minimum investment amount is Rs 500 and for investments via SIP, it is Rs 500.
The fund has the majority of holdings in the Financial sector, Technology sector, Consumer Staples Sector, and energy sector. Its top 5 holdings include ICICI Bank, HDFC Bank, Axis Bank, Infosys and Bharti Airtel.
3. IDFC Tax Advantage Fund
IDFC Tax Advantage Fund is 3rd ELSS fund on the list recommended by the brokerage. It is also a top-rated fund by leading agencies, rated 5 star by CRISIL and 4 star by Value Research. It was launched on 26 December 2008 by the IDFC Mutual fund. The benchmark of the fund is S&P BSE 500 TRI. The recorded AUM of the fund as on 30 November 2022 is Rs 4,091 crore and the expense ratio is 0.75%. To start investments in the fund, Rs 500 is Required and for SIP, it is Rs 1,000.
Sector-wise the top 5 holdings of the fund include the Financial sector, Automobile sector, Technology sector, material sector, and Healthcare sector. The top 5 holdings of the fund are ICICI Bank, Infosys, State Bank of India (SBI), HDFC Bank, and Reliance.
4. Mirae Asset Tax Saver Fund
Mirae Asset Tax Saver Fund is another top-rated tax-saver mutual fund recommended by ICICI Direct you can think about. It has been rated 3 star by the CRISL and 5 star by Value Research. It is a 7-year-old fund launched on 28 December 20165 by the Mirae Asset Mutual Fund. Its Benchmark is NIFTY 500 TRI.
The AUM is Rs 14,255 crore and the expense ratio is Rs 0.55% as on 30 November 2022. You can star investments in this fun with Rs 500 for a lump sum investment and with Rs 500 to begin SIP in this fund. The fund invests in equity and equity-related instruments to generate capital.
The top 5 sectors in which the fund has investments include Financial, Energy, Technology, Automobile and Healthcare. The top holdings of the fund are in HDFC Bank, ICICI Bank, Reliance, Infosys, and Axis Bank.
5. Tata Tax Savings Fund
Tata India Tax Savings Fund is the last ELSS fund recommended by the brokerage. This fund is an 8-year-old fund launched on October 13, 2014, by the Tata Mutual Fund. This is also a top-rated equity fund that has been rated 3 star by CRISIL and 3 star by Value Research, respectively. Its benchmark is NIFTY 500 TRI. As of 30 November 2022, it has an AUM of Rs 3,280 Crores and an expense ratio of 0.75%. One can start investing in this with Rs 500 and to begin investing in SIP, requires a minimum of Rs 500.
Financial, Technology, Energy, Capital Goods and Healthcare are the top sectors in which the fund has holdings, whereas, ICICI Bank, HDFC Bank, Infosys, Reliance, and Housing Development Finance are the fund’s top 5 holding stocks.
ELSS Fund- Annualised SIP Returns
| ELSS Fund | 1-year | 2-Year | 3-year |
|---|---|---|---|
| Canara Robeco Equity Taxsaver Fund | 7.92% | 10.34% | 20.21% |
| Franklin India Taxshiled Fund | 13.37% | 13.98% | 22.77% |
| IDFC Tax Advantage Fund | 10.61% | 15.14% | 27.05% |
| Mirae Asset Tax Saver Fund | 7.18% | 7.18% | 20.45% |
| Tata Tax Savings Fund | 13.26% | 13.92% | 21.11% |
Note – Returns Under Direct Plan-Growth Option of the funds
Disclaimer
Mutual fund investments are subject to market risk. Read all scheme-related Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn’t guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.