Mutual Funds: HDFC ELSS Tax Saver scheme is a living example of how wealth creation happens in the long term. Investors who invested in this scheme at the time of its launch have now become millionaires. Let us tell you that if an investor had invested ₹ 1 lakh in this scheme a year ago, then according to the data available on the AMC’s website, it would have increased to ₹ 1.45 lakh by July 31, 2024. At the same time, the investment made three years ago would have grown at a rate of 26.62 percent to ₹ 2.03 lakh.
This investment would have grown to Rs 2.74 lakh in a period of five years. Similarly, if an investor had invested Rs 1 lakh at the time of launch of this scheme on March 31, 1996, it would have now grown to Rs 3.41 crore.
About this Mutual Fund Scheme
The scheme was launched on March 31, 1996. The top 10 holdings in the scheme are ICICI Bank, Axis Bank, Cipla, Bharti Airtel, HCL Technologies, HDFC Bank, Hindustan Aeronautics, State Bank of India, SBI Life Insurance and Apollo Hospitals Enterprise. The minimum SIP is ₹500. The assets under management (AUM) of the scheme is ₹16,422 crore.
How to choose the best mutual fund scheme
The choice of a mutual fund scheme is the key to getting you bumper returns. Only if you choose the right fund will it give you bumper returns. Therefore, be very careful in choosing a fund to invest in any scheme. Choose the fund only after understanding your financial goals and risk taking capacity. There are different types of mutual fund schemes available, including equity funds, debt funds, hybrid funds and thematic funds. Choose the fund according to your needs. Apart from this, look at the historical performance of the mutual fund. Find out about the fund manager and the fund house. Then assess the expense ratio and exit load.
