Equity Linked Savings Schemes (ELSS) that track the Nifty 50 Index combine tax-saving benefits under Section 80C of the Income Tax Act with the performance of India's top 50 companies. As of March 2025, there are two such funds available:
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Navi ELSS Tax Saver Nifty 50 Index Fund
- Fund Objective: Invests in companies included in the Nifty 50 Index to replicate its performance, subject to tracking errors.
- Launch Date: February 14, 2023
- Assets Under Management (AUM): ₹78 crore as of January 2025
- Expense Ratio: 0.1% as of February 2025
- Risk Level: Very High
- Minimum Investment: ₹500 for both lump sum and SIP investments
- Performance: Since inception, the fund has delivered a Compound Annual Growth Rate (CAGR) of 17.48%. Over the last year, it has achieved a CAGR of 7.24%.
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360 ONE ELSS Tax Saver Nifty 50 Index Fund
- Fund Objective: Aims to achieve returns equivalent to the Total Returns Index of the Nifty 50 by investing in the same proportion as the index, subject to tracking errors.
- Launch Date: March 22, 2010
- Assets Under Management (AUM): ₹10,951 crore as of March 2025
- Net Asset Value (NAV): ₹12.99 as of March 20, 2025
- Risk Level: Very High
- Minimum Investment: ₹500 for both lump sum and SIP investments
- Performance: Specific performance details are not provided in the available sources.
Both funds offer investors the opportunity to gain exposure to the Nifty 50 Index while benefiting from tax deductions. It's essential to consider factors such as expense ratios, fund performance, and alignment with your financial goals and risk tolerance before investing.
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