I have been investing through SIPs in Magnum Taxgain for a period of 3 years and off late the performance has not been comparable with other tax saving funds such as HDFC or Sundaram. Should I continue this SIP or switch to another fund?
- Abbas Ali
The performance of this tax planning fund has been going down compared to some of the other funds in this category. If your three-year lock-in is over, you can consider exiting this fund. If your investments in this fund were to gain from tax savings, you can consider investing in Fidelity Tax Advantage or Canara Robeco Equity Tax Saver, which are the best performing funds in this category.