ELSS funds offer 8.19% in first half of 2023; SBI Long Term Equity Fund offer 12.64%

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There were 39 schemes in the ELSS category. All the schemes in the category were in green. SBI Long Term Equity Fund offered the highest return of around 12.64%, followed by JM Tax Gain Fund (12.26%). Quant Tax Plan offered the lowest return of 2.08%.Quarterly performance

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During April-June quarter in 2023, all the schemes in the ELSS category managed to offer double-digit returns. The category offered an average return of around 12.56%. During the same period, the benchmark indices, NIFTY 500 — TRI, S&P BSE 500 — TRI, and S&P BSE 100 — TRI, offered around 13.25%, 13.18%, and 11.84% respectively. During the quarter that ended in June, Axis Long Term Equity Fund, the topper in the category, offered around 16.86% returns, followed by JM Tax Gain Fund which offered 16.21%. Taurus Tax Shield Fund offered the lowest return of around 9.80%. Around 37 schemes out of 39 schemes offered more than 10% return in the quarter that ended in June. During January-June 2023, out of 39 schemes, 31 schemes outperformed their respective benchmarks. During April-June, out of 39 schemes, 12 ELSS schemes managed to beat their respective benchmarks. However, 12 schemes outperformed their respective benchmarks in both the horizons. As per AMFI data, during January-May 2023 (last available data), the ELSS category received a total inflow of Rs 4,637.28 crore. The asset under management for ELSS category as on May 31,2023 was Rs 1.63 lakh crore. Note, the above exercise is not a recommendation. The main purpose of this exercise is just to find out how ELSS schemes performed in the first half of 2023. One should not