Please suggest Best ELSS Scheme

Ans: Hi Ashish, it is better to invest in multiple schemes to create a balanced portfolio. Assuming you want to invest Rs.1,50,000 in ELSS to avail the tax savings, you can consider investing in:

1-Samco ELSS Tax Saver Fund: Rs.60,000
2-Axis Long Term Equity Fund: Rs.60,000
3-HDFC Tax Saver Fund: Rs.30,000

Ans: Congratulations on your daughter's upcoming MBA graduation! An MBA is a great achievement, and planning for her future is fantastic.

ELSS funds can be a smart way for her to start building wealth for her long-term goals. Here are some key points to consider when choosing ELSS funds for her:

Investment Time Horizon: Since your daughter is young, she has a long investment horizon. This allows her to take on more risk for potentially higher returns.

Risk Tolerance: Understanding her risk tolerance is important. How comfortable is she with potential market ups and downs?

Financial Goals: What are her long-term financial goals? Retirement, higher education, or a down payment on a house? These will influence her investment choices.

Here's why I can't recommend specific ELSS funds:

Performance: Past performance isn't a guarantee of future results. What worked well yesterday might not work well tomorrow.

Your Daughter's Needs: The best ELSS funds for her depend on her specific risk tolerance and goals.

What I can recommend:

Actively Managed Funds: ELSS funds are actively managed by experienced professionals who try to outperform the market. This can be beneficial over the long term.

Diversification: Consider a diversified portfolio of 2-3 ELSS funds across different market capitalizations (Large, Mid, and Small Cap). This helps spread risk.

Seek Professional Help: A Certified Financial Planner (CFP) can analyze your daughter's risk profile and financial goals. They can recommend suitable ELSS funds based on her needs.

Here are some additional tips:

Start Small, Invest Regularly: Starting small with a Systematic Investment Plan (SIP) is a good way to begin. She can increase the SIP amount as her income grows.

Stay Invested for Long Term: The power of compounding works best over time. Encourage her to stay invested for the long term to benefit from market growth.

Review Regularly: As her financial goals and risk tolerance evolve, her portfolio may need adjustments. A CFP can help her monitor and rebalance her investments periodically.

By planning early and taking a strategic approach, your daughter can build a solid financial foundation for her future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ans: Hello Kumar. You may consider Quant and Bandhan tax saver funds.

Ans: For a high-risk appetite and a 4-5 year horizon, you can consider diversified ELSS funds known for consistent performance and managed by experienced professionals. Look for funds with a track record of outperforming their benchmarks and peers. Always remember to monitor your investments regularly and consult a financial advisor for personalized advice.