Mutual Fund SIP: The trend of decline in the Indian stock market continues. Investors’ portfolios have been ruined in this long-running decline. Due to the ongoing decline in the market, mutual fund portfolios have also been devastated. However, in this period of decline, there are many mutual fund schemes which have given strong returns to investors. Today we are going to tell you about a scheme which has converted a SIP of just Rs 10,000 into Rs 3 crore in 25 years. Additionally, one scheme turns a SIP of Rs 10,000 into Rs 1.18 crore in 18 years.
Quant ELSS Tax Saver Fund
Quant launched ELSS Tax Saver Fund in April, 2000. This mutual fund scheme has given a return of 15.41 percent since its launch. This simply means that if a person had started a SIP of Rs 10,000 in Quant ELSS Tax Saver Fund in the year 2000, then today his total investment would have been Rs 28.80 lakh and the total value of his fund would have been Rs 3.03 crore.
DSP ELSS Tax Saver Fund
DSP ELSS Tax Saver Fund was launched in January, 2007. This fund has given a total return of 15.53 percent since its launch. If a person had started a SIP of Rs 10,000 in DSP ELSS Tax Saver Fund in the year 2007, today his total investment would have been Rs 21.60 lakh and the total value of his fund would have been Rs 1.18 crore.
What are ELSS funds?
ELSS means Equity Linked Savings Scheme. These funds come with a lock-in period of 3 years. These are called tax saver funds because in these, tax up to Rs 1.5 lakh can be saved under section 80C of Income Tax.
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