A Comparative Study on Five Different Equity Linked Saving Schemes of Mutual Funds with NIFTY 50 Index
Published: 2024
Author(s) Name: Mohammed Avez Patel, Smita Nadiger (Jadhav) and Gangadhar Sheeri |
Author(s) Affiliation: KLEs Institute of Management Studies and Research, Hubli, Karnataka, India.
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Abstract
ELSS has evolved as a popular investment option in India for people seeking both tax savings and possible capital growth. The purpose of this study is to provide a comprehensive comparative assessment of five distinct ELSS offered by mutual funds, with an emphasis on their performance in comparison to the NIFTY 50 Index, a benchmark representing the performance of the top 50 firms listed on India’s NSE. The study digs into a number of crucial aspects, including as historical returns, risk measures, portfolio diversification, expense ratios, and tax benefits, to assess the viability of each ELSS for investors looking to maximize their tax-saving investments while obtaining high returns. We also look at the performance of these funds to gauge their diversification and adherence to market trends. The findings of this study will assist investors in selecting ELSS funds for their investment portfolios.
Keywords: Alpha, Beta, Comparison of funds, Co-variance, Return, Risk, Sharp ratio.
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