I have Rs 90,000 which I want to invest in ELSS funds. Can you please suggest me 2-3 good ELSS schemes that I can invest in? And, should I invest this amount in a single fund or in lump sum?
-Dharmender Singh.
Investing in lump sum comes with its share of risks and ideally you should consider investing regularly in mutual funds through SIPs. As you still have three months left in the financial year, to invest in tax savers to get the necessary tax breaks, you should consider investing in instalments. As a category, all tax plans have the same investment objective. Having too many of them does not augur well for your overall portfolio. However, you can select from Canara Robeco Equity Tax Saver, Fidelity Tax Advantage or Religare Tax Plan. All the three carry the Value Research 5 star rating and have been a consistent performers.
This article was originally published on December 30, 2010.
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