Explore Tax Benefits with Mutual Funds: Exploring the Top ELSS Funds in 2024 for Smart Investing

ELSS Funds: Tax Savings and Strong Returns

This blog post explores Equity Linked Saving Schemes (ELSS) - mutual funds that offer tax benefits and potentially high returns.

Understanding ELSS:

• ELSS funds lock in your investment for 3 years.

• At least 80% of your money goes into stocks.

• You can claim tax deductions up to ₹1.5 lakh under Section 80C.

Top 5 ELSS Funds for Growth:

The blog highlights five high-performing ELSS funds with average returns over the past 10 years:

• Fund A: 17%

• Fund B: 14%

• Fund C: 13%

• Fund D: 12%

• Fund E: 11%

Remember: Past performance doesn't guarantee future results. Research thoroughly and consult a financial advisor before investing.

Choosing the Right ELSS Fund:

Consider these factors when picking an ELSS fund:

• Alpha: Measures a fund's ability to outperform the market (higher is better). Fund A and Fund E have a positive alpha.

• Beta: Measures a fund's volatility compared to the market (lower is better for stability). Fund B and Fund D have a higher beta, indicating more volatility.

The Takeaway:

ELSS funds offer tax benefits and growth potential. Analyze your risk tolerance and consult a financial advisor before investing. Consider Fund C for its good returns, positive alpha, and moderate beta.

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