These funds have seen outflows totalling ₹839.2 crore from April to June.
According to monthly data released by the Association of Mutual Funds in India (Amfi), 42 ELSS have ₹2.39 trillion in assets under management.
ELSS are equity mutual funds that invest in shares of companies across market caps.
"ELSS primarily invest in equities, offering the potential for higher returns over the long term compared to traditional tax-saving instruments like Public Provident Fund (PPF) and Fixed Deposits (FDs)," says S Sridharan, founder and chief executive officer (CEO), Wallet Wealth.
Why the lukewarm response?
Being equity-linked, ELSS promises returns in the long run. Over three and five years ended July 26, 2024, ELSS on average gave returns of 20 per cent and 21.2 per cent, respectively, comparable to flexi-cap funds (19.8 and 20.9 per cent). Hence, performance does not account for the recent outflows.
هذه القصة مأخوذة من طبعة July 30, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 30, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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