Mutual fund investors look for schemes that multiply their investments twice or thrice. An ETMutualFunds analysis found that three equity mutual funds turned Rs 1 lakh to Rs 1 crore in 30 years.
Around 25 equity mutual funds consistently beat benchmarks in various horizons, including ELSS, value, flexi cap funds. Market cap based schemes like large cap, mid cap, ELSS, flexi cap showed strong performance. Investment decisions should consider multiple factors beyond past performance.
ELSS funds are equity funds that allow investors to invest their money and also save tax. ELSS funds are tax-saving schemes as they offer tax exemption of up to Rs 150,000 under Section 80C of the Income Tax Act.