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ELSS have a Definite Purpose

ELSS funds come with a lock-in of 3 years, which is unnecessary if you're saving tax by investing in them…

For the last 2 years, I have been investing via SIPs in HDFC Top 200, HDFC Taxsaver and DSP BlackRock Top 100 Equity. Should I continue with these funds? I want to invest Rs 5,000 more, where should I invest it? I don’t need the ELSS fund.
Sachin

If you don’t require the tax-saving fund, stop your SIPs in them. ELSS funds come with a lock-in of 3 years, which is unnecessary if you're not going to save tax by investing in such funds. The other two funds that you hold are good funds. Invest the additional Rs 5,000 as well the SIP amount of the ELSS fund into these two funds.

This article was originally published on October 12, 2012.

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