Mutual Funds returns - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Axis ELSS Tax Saver Fund, the largest scheme in the ELSS category based on assets managed, failed to beat its respective benchmark and category average.
Tax saving mutual funds or ELSSs invest in stocks. Therefore, they have a very high risk. You should be aware of this aspect, especially if you are a first-time investor in equity mutual funds. Compared to your usual investments like Public Provident Fund or National Savings Certificate, etc, ELSSs do not offer guaranteed returns. You may even suffer losses in a bad market.
Mutual Funds returns - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Tax-saving mutual funds, or ELSS, provide investors with tax benefits under Section 80C of the Income Tax Act, of 1961. The lock-in period inculcates a good habit among investors to thrive for long-term investing while putting their money in an equity-related instrument.