Best-performing Tax Saving Mutual Funds in 1 Year (July 2023): 11 schemes with over 27% SIP returns

Best Performing Tax Saving (ELSS) Mutual Fund Schemes in 1 year (till July 5, 2023): Except for one scheme, direct plans of all other tax-saving mutual fund schemes have given over 20% annualised returns in one year. Data on the website of the Association of Mutual Funds in India (AMFI) at the time of writing shows that direct plans of as many as 11 ELSS funds have given over 27% returns in this duration.

The following is the list of 11 such top-performing tax-saving funds that have given more than 27% in one year under their respective direct plans. The regular plans of these schemes have also given over 25% returns in one year.

Before seeing the list, investors should note that this exercise is for informational purposes only. It is not intended to recommend any fund for investment.

One should never invest in a mutual fund scheme on the basis of past performance only. Moreover, the one-year returns of a fund don’t say much about its quality or suitability for an investor. One should always invest as per his/her risk appetite, risk capacity and financial goals. As a wrong mutual fund investment decision can lead to losses, it is also recommended to consult a SEBI-registered financial advisor before investing in a fund.

11 top-performing ELSS tax-saving mutual funds in one year

Motilal Oswal Long Term Equity Fund

The direct plan of Motilal Oswal Long Term Equity Fund has given 34.09% returns while the regular plan has given 32.45% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.

SBI Long Term Equity Fund

The direct plan of SBI Long Term Equity Fund has given 33.07% returns while the regular plan has given 32.21% returns in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given 24.50% returns in one year.

Also Read: Top Performing Large Cap Mutual Funds in 1 year (July 2023): 20 schemes with 23% to 31% SIP returns

JM Tax Gain Fund

The direct plan of JM Tax Gain Fund has given 30.97% returns while the regular plan has given 39.71% returns in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given 24.50% returns in one year.

ITI Long Term Equity Fund

The direct plan of ITI Long Term Equity Fund has given 30.14% returns while the regular plan has given 27.66% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.

HSBC ELSS Fund

The direct plan of HSBC ELSS Fund has given 29.55% returns while the regular plan has given 28.51% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.

Kotak Tax Saver Fund

The direct plan of Kotak Tax Saver Fund has given 29% returns while the regular plan has given 27.32% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.

Bandhan Tax Advantage (ELSS) Fund

The direct plan of Bandhan Tax Advantage (ELSS) Fund has given 29.24% returns while the regular plan has given 27.74% returns in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given 24.50% returns in one year.

Also Read: New Mutual Funds 2023: From Quant, Bandhan AMC to Mirae Asset, 8 NFOs for investing in July

HDFC Taxsaver Fund

The direct plan of HDFC Taxsaver Fund has given 28.78% returns while the regular plan has given 27.99% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.

Bank of India Tax Advantage Fund

The direct plan of Bank of India Tax Advantage Fund has given 28.34% returns while the regular plan has given 26.84% returns in one year. The scheme tracks S&P BSE 500 Total Return Index, which has given 24.50% returns in one year.

Quant Tax Plan

The direct plan of Quant Tax Plan has given 27.15% returns while the regular plan has given 25.34% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.

Mahindra Manulife ELSS Fund

The direct plan ofMahindra Manulife ELSS Fund has given 27.67% returns while the regular plan has given 25.52% returns in one year. The scheme tracks NIFTY 500 Total Return Index, which has given 24.44% returns in one year.

Disclaimer: The above content is for information purposes only based on AMFI website data as of July 4, 2023. Mutual Funds are subject to market risks. There is no assurance or guarantee that the above funds will give the same returns in future. Investors are advised to consult their financial advisors before investing.