Tax saver funds are one of those investment tools that help an investor combine wealth creation along with income tax savings under Section 80C. So, if someone is in mood to start an investment and is yet to reach the threshold limit of ₹1.5 lakh Section 80C annual limit, these funds can be a good option to look at. However, while choosing a tax saver fund, there is need to find out the top performing funds and their risk profile.
Top performing tax saver funds
According to the Value Research website, Quant Tax Direct fund is the highest yielding SIP fund in this category as it has delivered 118.63 per cent annualized return in last one year. SIPs in Axis Long Term Equity Direct fund, BOI Axa Tax Advantage direct Fund, Canara Rebeco Equity Tax Saver Direct Fund, DSP Tax Saver Direct Fund, etc. are among those funds have delivered more than 50 per cent return annualized SIP return to the investors in the last one year.
Here we list out the top performing tax saver funds that delivered more than 50 per cent SIP return in the last one year.
1] Quant Tax Direct Fund: The tax saver fund has yielded 118.63 per cent annualized SIP return in the last one year and if an investor has invested ₹10,000 per month, then the current worth of its portfolio would be ₹1,81,592.
2] BOI Axa Tax Advantage Direct Fund: This fund has delivered 70.08 per cent annualized return in the last one year to the SIP investors and one’s ₹10,000 per month investment would have become ₹1,58,112 portfolio in this period.
3] Canara Rebeco Equity Tax Saver Direct Fund: This fund has delivered 62.68 per cent annualized SIP return in the last one year. If an investor had started SIP of ₹10,000 per month in this fund, then one’s portfolio would have been worth ₹1,54,365 today.
4] Mirae Asset Tax Saver Direct Fund: This fund has given 67.32 per cent annualized return to the investors. One’s portfolio would have become ₹1,56,721 if it had invested ₹10,000 per month in this fund for the last one year.
5] PGIM India Long Term Equity Direct Fund: This tax saver fund has given 67.09 annualized SIP return in the last one year that means one’s portfolio would have become ₹1,56,605 if it had invested ₹10,000 per month in this fund.
6] JM Tax Gain Direct Fund: This tax saver fund has delivered 57.48 per cent annualized SIP return to its investors in the last one year. One’s portfolio would have been ₹1,51,703 if it had invested ₹10,000 per month in this fund.
7] Invesco India Tax Direct Fund: This fund has given 57.05 per cent annualized SIP return to the investors. An investor’s today’s portfolio would have been ₹1,51,481 if he or she had started SIP invested of ₹10,000 per month in this fund one year ago.
8] Axis Long Term Equity Direct Fund: This fund has delivered 54.39 per cent annualized SIP return in the last one year means one’s ₹10,000 per month SIP would have become ₹1,50,101 today.
However, one must note that there is no guarantee of these top performing funds repeating their current performance if someone invests in any of these funds today.
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