An Equity Linked Savings Scheme (ELSS) fund like Mirae Asset Tax Saver Fund falls under the equity funds category. ELSS funds are popular among investors since they can help save up to ₹46,800 in tax.
This blog will help you understand the fundamentals of Mirae Asset Tax Saver Fund and how you can start an ELSS funds SIP for as low as ₹500 using Cube Wealth.
Note: Mirae Asset Tax Saver Fund is currently being recommended on the Cube Wealth app by our mutual fund advisor, Wealth First. To check the latest fund information download the Cube Wealth App.
What Is Mirae Asset Tax Saver Fund?
Mirae Asset Tax Saver Fund is an open-ended equity scheme that primarily invests in shares of companies from different market caps. It follows the value investing approach popularized by Warren Buffet.
Mirae Asset Tax Saver Fund provides two major benefits to investors. First, it can help you save tax up to ₹46,800 per financial year. Second, it has historically generated returns between 15% to 17% over 3+ years.
The fund carries one of the lowest lock-in periods (3 years) of any tax saving investment under Section 80C. Moreover, it is also known to provide better returns than other section 80C investments.
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