Indians are generally hard-wired to save rather than spend. Although saving is a smart thing to do, using an instrument to grow the static capital is smarter. Mutual funds are an instrument that helps people with small capital to invest and grow at a steady pace. Moreover, the instrument becomes handier with the adoption of SIP (Systematic Investment Plan).
An amalgamation of both risk and return, it is always better to consider insights from various rating organisations that look at various indicators and factor in their influence on the SIP over time. After this, the organisation concocts a list of the best options to invest in. We bring to you one such list, which holds some of the most lucrative SIPs that can foster your money and give you a good return. Here are the top five SIPs which are rated top by analytical company CRISIL.
BOI AXA Tax Advantage Fund
The BOI AXA Tax Advantage Fund is rated among the top funds to invest your money. According to the CRISIL report, the BOI AXA Tax Advantage Fund has given 14.58 per cent returns on investments made in the past six months, while a staggering 42.6 per cent returns on investments in the past year. In the last three years, the fund has given a 28.07 per cent return on investments.
IDFC Tax Advantage Fund
For the IDFC Tax Advantage Fund, the CRISIL report displays the ROI (Return on Investment) performance for various investment periods. According to the report, the fund has given returns of 12.68% in the past 6 months and a whopping 48.98% return on investments in the past one year. The ROI performance of the fund for the past three years stands at 21.46%.
Mirae Asset Tax Saver
Mirae Asset Tax Saver is also among the top SIPs suggested by CRISIL. According to the report, the fund’s ROI performance track for the past six months has been at 11.5 per cent, while for the past one year, it is 37.57 per cent. The three-year track of returns on investments is at 23.25 per cent.
Quant Tax Plan
Quant Tax Plan has been rated five-star by CRISIL. According to the report, the fund has given returns of 15.7 per cent in the past six months, while a monumental return of 68.38 per cent in the past one year. Coming to the ROI performance in three years, the returns stand at 35.51 per cent.
Union Long Term Equity Fund
Another five-star rated SIP, Union Long Term Equity Fund has given returns of 38.06 per cent on investments for the past one year, while the ROI for the past six months stands at 14.83 per cent. The Union Long Term Equity Fund has given returns of 21.97 per cent for investments in the past three years.