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Ulhas Joshi | Answer |Ask -Follow

Mutual Fund Expert - Answered on Mar 30, 2023

With over 16 years of experience in the mutual fund industry, Ulhas Joshi has helped numerous clients choose the right funds and create wealth.
Prior to joining RankMF as CEO, he was vice president (sales) at IDBI Asset Management Ltd.
Joshi holds an MBA in marketing from Barkatullah University, Bhopal.... more

Question by Ashish on Mar 28, 2023Hindi

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which Elss Mutual Fund Scheme better to invest

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

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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I need to invest around 1.5 L for tax saving purpose. How about ELSS fund and which one do you suggest?

Ans: For tax-saving purposes, ELSS (Equity Linked Savings Scheme) funds are an excellent option as they offer tax benefits under Section 80C of the Income Tax Act while providing the potential for long-term wealth creation through equity investments. When selecting an ELSS fund, consider factors such as historical performance, fund manager expertise, expense ratio, and investment strategy. Look for funds with a consistent track record of delivering competitive returns over the long term. It's advisable to consult with a financial advisor or conduct thorough research to choose the ELSS fund that aligns with your investment goals and risk tolerance.

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Question by Sumit - Jan 17, 2024Hindi

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At present which mutual fund is best for Lumpsum for next 10 yrs? Also suggest for best ELSS fund for next 5-10 yrs?

Ans: Hello Sumit & thanks for writing to me. It is difficult to predict the best mutual fund but as your horizon is long, I would recommend you look at pure equity funds.

Similarly, it is difficult to predict the best ELSS fund. As you wish to invest in ELSS funds, you can consider investing equally in a basket of ELSS funds like the Parag Parikh ELSS Tax Saver Fund, Franklin India ELSS Tax Saver Fund & ICICI Prudential Tax Saver Fund.

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Asked by Anonymous - Jan 30, 2024Hindi

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What is the best Elss Fund for tax saving as well as maximum return

Ans: Hello and thanks for writing to me.

It is difficult to predict the best performing fund over a period, however, given that ELSS funds carry a 3 year lock-in, you can consider investing in a combination of:
Samco ELSS Tax Saver Fund
Kotak ELSS Tax Saver Fund
ABSL ELSS Tax Saver Fund

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Question by Ajay - Apr 07, 2024Hindi

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Hello Sir, I want to invest 20k per month, 5k in ELSS and balance 15k in normal Mutual fund for better return. Kindly suggest.

Ans: For ELSS, consider established funds with a strong performance history. In the diversified equity category, opt for funds with a proven track record of delivering consistent returns. Evaluate the funds based on factors like fund manager expertise, investment approach, and expense ratio to make an informed decision.

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Question by Srinath - Apr 16, 2024Hindi

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I am 31 years old and I want to invest 50K each in 2 ELSS funds through SIP. Can you guide me 2 ELSS funds which are the best one to invest and my equity risk appetite is high. My aim is get 1 Cr from the two funds in next 4-5 years

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.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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