|Posted by: neerajavalaskar on ( 12-May-08 21:26 )|
|I want to start SIP of Rs. 5000/-|
1.please suggest me shall I invest into 1 or 2 ELSSs?
2. In which ELSS fund/s
Thank you in advance.
My reply was :
SBI MAgnum Tax Gain 93 has been a star performer and given 5 Star ratings by most rating agencies. But its fund size has grown substantially and I have my doubts regarding whether it will be to give the same returns as in the past. In fact, I doubt whether it will be even able to give Sensex average returns!!! So, in hindsight, I disagree with Mr.Extermite that you should invest your entire funds in SBI Magnum Tax Gain.
In the ELSS category, my picks are Birla Sunlife Tax Relief 96, DSPML Tax Saver, DWS Tax Saving Fund, Fidelity Tax Advantage, HDFC Tax Saver, Lotus India Tax Plan, Principal Personal Tax Saver and Sundaram Tax Saver.
You can consider among these. If you dont worry short term volatility and investing for a really long term, then you can safely consider DSPML Tax SAver Fund.
Best of luck.
Srikanth Shankar Matrubai.