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Have I chosen the right tax-saving mutual fund schemes?

If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.

ET Online|
Nov 14, 2019, 11.01 AM IST
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I have recently started two monthly SIPs in the following ELSS mutual funds:
Axis Long Term Equity Fund:Rs 3,000
ICICI Prudential Long Term Equity Fund: Rs 2,000

Are these mutual fund schemes good? Or should I invest in any other moderate risk funds for stable returns?
--Shubhm Jain

Puneet Oberoi, Founder, Excellent Investment Advisors, responds:


When we talk about investments in equity mutual funds, we need to have a horizon of at least seven years or more. If the horizon of your financial goals is less than five years, you may consider investing in conservative hybrid funds.

But if you have a longer investment horizon then you can stay invested in the ELSS funds you have mentioned.

My recommended ELSS or tax-saving mutual funds are:
Axis Long Term Equity Fund
Mirae Asset Tax Saver Fund
Kotak Tax Saver Regular Plan
(If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.)
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