Best-performing Tax Saving Mutual Funds in 1 Year (July 2023): 11 schemes with over 27% SIP returns
Best Performing Tax Saving (ELSS) Mutual Fund Schemes in 1 year (till July 5, 2023): Except for one scheme, direct plans of all other tax-saving mutual fund schemes have given over 20% annualised returns in one year. Data on the website of the Association of Mutual Funds in India (AMFI) at the time of writing shows that direct plans of as many as 11 ELSS funds have given over 27% returns in this duration.
The following is the list of 11 such top-performing tax-saving funds that have given more than 27% in one year under their respective direct plans. The regular plans of these schemes have also given over 25% returns in one year.
Before seeing the list, investors should note that this exercise is for informational purposes only. It is not intended to recommend any fund for investment.
One should never invest in a mutual fund scheme on the basis of past performance only. Moreover, the one-year returns of a fund don’t say much about its quality or suitability for an investor. One should always invest as per his/her risk appetite, risk capacity and financial goals. As a wrong mutual fund investment decision can lead to losses, it is also recommended to consult a SEBI-registered financial advisor before investing in a fund.
Motilal Oswal Long Term Equity Fund
The direct plan of Motilal Oswal Long Term Equity Fund has given 34.09% returns while the regular plan has given 32.45% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.
SBI Long Term Equity Fund
The direct plan of SBI Long Term Equity Fund has given 33.07% returns while the regular plan has given 32.21% returns in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given 24.50% returns
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