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Tuesday, April 14, 2009

ELSS Fund - Choosing Good Income Tax Saving Fund

ELSS Mutual funds has been a good choice in past few years for many people who want to save income tax and at the same time be part of stock market growth. There are hoards of funds from mutual fund houses. Out of these, Magnum Taxgain and Sundaram BNP Paribas Taxsaver are two of the best performing ELSS funds. Let's compare these two on the basis of their track records in past few years.

One thing to consider before buying mutual funds is the track record of fund. It is better to stay away from new funds as they do not have a performance history. Now coming to comparison between Magnum Taxgain and Sundaram BNP Paribas Taxsaver, let’s take a detailed look at both of them.

Both funds have track records. If we compare their annualized five-year trailing returns as of February 28, 2009, Magnum scores over Sundaram with 25 per cent returns while the latter has delivered 22 per cent. But if we come to recent performances, Magnum has been shedding more than Sundaram in the one year, two year and three year trailing returns. In the market meltdown of 2008 too, Magnum has shed 55 per cent while Sundaram has shed a lesser 48 per cent.

One can opt for Sundaram Taxsaver as it has come out to be a more stable offering while Magnum Taxgain’s performance has been sliding down in the recent past.

1 comment:

  1. Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

    1. HDFC TaxSaver
    2. ICICI Prudential Tax Plan
    3. DSP BlackRock Tax Saver Fund
    4. Birla Sun Life Tax Relief ‘96
    5. Reliance Tax Saver (ELSS) Fund
    6. IDFC Tax Advantage (ELSS) Fund
    7. SBI Magnum Tax Gain Scheme 1993
    8. Sundaram Tax Saver

    Download Tax Saving Mutual Fund Application Forms from all AMCs


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