A Study on Performance Evaluation of Selected ELSS Mutual Funds
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Date
2018-10-17T09:27:44Z
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In India, tax savers have the opportunity to save their tax by investing in Public Provident Fund (PPF), National saving certificates (NSC), Tax saving fixed deposits, life insurance and Equity linked saving schemes. Public Provident Fund, Fixed Deposits and National Saving Certificate are suiGraph for investors who are willing to get fixed return and lower risk. On the hand Equity Linked Saving Scheme and Life insurance provides superior return than fixed return schemes in long term based upon the performance of the market. Mutual fund’s ELSS scheme is the most effective tool for the tax saving for those investors who want to beat inflation through superior return in order to earn superior return, tax saver has to take more risk compared to other investment schemes.
This study is aimed at answering certain questions with respect to ELSS mutual funds been offered in the country such as which fund is performing well what the risk level is associated with each fund, is that returns are par with the index returns and finally which the best is performing mutual fund in the current period, This study is conducted by using secondary data which is used to evaluate the selected mutual funds’ performance for the past 5 years To evaluate the performance of the schemes, different statistical tools have been used such as Sharpe Ratio, Treynor Ratio, Jensen’s Alpha, Beta and Standard deviation.
It has been concluded that out of all the selected schemes, L & T advantage fund ranked first as per
Sharpe ratio and Jensen’s alpha. Hence the scheme is offering best risk adjusted return among selected mutual funds on the basis of asset under management for the period under study.
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N. R. Arjun, 1NZ16MBA36