I would like to invest a sum of Rs 80,000 in an ELSS fund. Which is the best scheme to invest in?
-Prabhat
ELSS funds come with a three year lock-in period. The well-performing ELSS funds to invest in are HDFC Taxsaver and Franklin India Tax Shield, both of which have been around for a long time. If you would like to invest in an aggressive ELSS, consider Religare Tax Plan and Taurus Tax Shield, both of which are relatively new but have performed very well in recent times.
Investors looking at the performance of ELSS funds over the past three years should understand that in a market like this, ELSS funds can turn out to be high-performing investment avenues. And perhaps, this is the last year to invest in them because once the DTC kicks in, we will not have an equity-linked tax saving alternative in the coming years.
This article was originally published on December 28, 2011.
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