Mutual Fund: Scheme that turns 5 lakhs into 28 lakhs! This ELSS did this amazing feat in just 5 years

Scheme to convert 5 lakh into 28 lakh rupees

There is one scheme in the ELSS Fund category that has turned an investment of Rs 5 lakh into about Rs 28 lakh in the last 5 years. This scheme is Quant ELSS Tax Saver Fund. The special thing is that the regular plan of this scheme has given a tremendous return of 33.46 percent and the direct plan has given a tremendous return of 35.68 percent in the last 5 years. This means that if a person had invested Rs 5 lakh in this scheme 5 years ago, then his fund value would have been around Rs 28 lakh by now. Those who do SIP in this scheme have also got such tremendous returns. This thing will become even more clear from the calculation given below.

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Quant ELSS Tax Saver Fund

Return on lump sum investment in 5 years

Lumpsum investment 5 years ago: Rs 5 lakh

Average annual return over 5 years: Regular: 33.46%, Direct: 35.68%

Total Fund Value after 5 years: Rs 27,99,055

Total return on investment in 5 years: Rs 22,99,055

Return on SIP in 5 years

Average annual return over 5 years: Regular 33.46%, Direct 35.68%

Monthly SIP for 5 years: Rs 10,000

Total Fund Value after 5 years: Rs 16,62,500

Total investment through monthly SIP in 5 years: Rs 5,99,957

Total return on investment in 5 years: Rs 10,62,543

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Top 5 ELSS Funds that gave the highest returns in 5 years

Apart from Quant ELSS Tax Saver Fund, there are many other mutual funds available in the ELSS category which give great returns, details of which you can see here.

1.Quant ELSS Tax Saver Fund

Average annual return over 5 years: Regular: 33.46%, Direct: 35.68%

Average annual return over 10 years: Regular: 24.76%, Direct: 26.02%

Asset Under Management (AUM): Rs 10,331.90 crore

2. Bank of India ELSS Tax Saver Fund

Average annual return over 5 years: Regular: 27.13%, Direct: 28.51%

Average annual return over 10 years: Regular: 18.54%, Direct: 20.01%

Asset Under Management (AUM): Rs 1,411.64 crore

3. SBI Long Term Equity Fund (ELSS)

Average annual return over 5 years: Regular 24.00%, Direct: 24.80%

Average annual return over 10 years: Regular: 16.48%, Direct: 17.22%

Asset Under Management (AUM): Rs 25,527.81 crore

4. Motilal Oswal ELSS Tax Saver Fund

Average annual return over 5 years: Regular: 22.41%, Direct: 23.97%

Average Annual Return over 10 years: NA (This fund was not in existence 10 years ago)

Asset Under Management (AUM): Rs 3,647.15 crore

5. DSP ELSS Tax Saver Fund

Average annual return over 5 years: Regular: 21.47%, Direct: 22.63%

Average annual return over 10 years: Regular: 17.43%, Direct: 18.50%

Asset Under Management (AUM): Rs 16,014.04 crore

(Source: AMFI)

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Invest wisely

Market risk is always associated with investing in equity. Whether you invest directly in the stock market or invest through equity mutual funds, it is affected by market fluctuations. Also keep in mind that the past performance of a mutual fund does not guarantee similar returns in the future. We have provided details of all mutual funds here only for information. Its purpose is not to advise investing in them. You should take any investment decision keeping in mind your risk profile and only after taking advice from an investment advisor.