How many tax-saving ELSS mutual funds should you have in your portfolio?
Experts are not necessarily in favour of utilizing ELSS funds towards long term goals.
ELSS mutual fund schemes help individuals to save tax in a financial year. Experts insist that ELSS funds have a bigger role to play but they cannot be utilised for long term goals. Here is how you can pick the right one to complement your portfolio.
Investors looking for last-minute tax-saving investments in Equity-Linked Savings Schemes (ELSS) usually end up chasing the most popular or highest return-generating funds at this time every year. But can ELSS funds contribute more to your portfolio than merely saving taxes?Experts insist that ELSS funds have a bigger role to play. While ELSS funds carry a mandatory lock-in of three years, it should not constrain your own investing time horizon.