A Comparative Study of Selected ELSS Mutual Funds in T15 Cities and B15 Cities

Abstract

The mutual fund sector in India has been growing recently. Between 2013 and 2018, the average asset under managed rose by more than thrice (AMFI, 2018). The study period consist from April 2015 to March 2018. The prime aim of the study is to a compare the return, risk and asset under management of selected ELSS mutual funds in T15 cities and B15 cities. Some funds have displayed moderate growth, with gradual increases in returns over the years. This category includes Birla Sun Life Capital Tax Relief '96, HDFC Long Term Advantage Fund, ICICI Tax Plan, SBI Magnum Tax Gain Scheme, and Sundaram Tax Saver. While these funds may not have achieved the same level of returns as the top-performing funds, they still offer steady growth potential. Certain ELSS funds in B15 cities have displayed limited growth, with relatively lower returns compared to their counterparts. Birla Sun Life Tax Plan, BNP Paribas Tax Advantage Plan, BOI Axa Tax Advantage, Kotak Tax Saver Scheme, and Religare Invesco Tax Plan fall into this category. On the other hand, funds like Boi Axa Tax Advantage, HDFC Taxsaver, IDFC Tax Advantage (ELSS) Fund, Kotak Tax Saver Scheme, and Reliance Tax Saver Fund have demonstrated comparatively higher risks. These funds may appeal to investors seeking potentially higher returns but who are willing to accept a greater level of risk.