Motilal Oswal LT Equity, SBI LT Equity: 5 Best Tax Saving Mutual Funds That Can Give You Better Returns

Here is the list of 5 top performing tax-saving mutual funds that can help you save a lot of money and earn a lot more at the same time.

New Delhi: We’ve all heard the famous saying in Mutual Funds advertisements that “Mutual Funds are subject to market risk…”, and many of us may have invested in them as well. Mutual funds are one of the best investments for those who know well how the market works and for those who do not have such expertise, they can get one. Today, let us know about the 5 best-performing tax-saving mutual funds that can help you earn a brighter future, according to a report from Financial Express.

Motilal Oswal long-term equity fund

In one year, the direct plan of the Motilal Oswal Long Term Equity Fund returned 34.09%, while the regular plan returned 32.45%. The strategy is based on the NIFTY 500 Total Return Index, which has returned 24.44% in one year.

SBI Long-Term Equity Fund

In one year, the direct plan of the SBI Long Term Equity Fund returned 33.07%, while the regular plan returned 32.21%. The program is based on the S&P BSE 500 Total Return Index, which has returned 24.50% in one year.

JM Tax Profit Fund

In one year, the JM Tax Gain Fund direct plan returned 30.97%, while the regular plan returned 39.71%. The program is based on the S&P BSE 500 Total Return Index, which has returned 24.50% in one year.

ITI Long Term Equity Fund

In one year, the direct plan of the ITI Long Term Equity Fund returned 30.14%, while the regular plan returned 27.66%. The strategy is based on the NIFTY 500 Total Return Index, which has returned 24.44% in one year.

HSBC ELSS fund

In one year, the direct plan of the HSBC ELSS Fund returned 29.55%, while the regular plan returned 28.51%. The strategy is based on the NIFTY 500 Total Return Index, which has returned 24.44% in one year.

Remark: Never invest in a mutual fund plan based solely on historical success. In addition, a fund’s one-year results say little about its quality or suitability for an investor. This article is for informational purposes only and we encourage you to invest wisely and carefully.

What is an investment fund

A mutual fund is a pool of money managed by a professional fund manager. It is a trust that collects money from a group of investors who share a common financial goal and invests it in stocks, bonds, money market instruments and/or other securities, according to AMFI India.