PERFORMANCE EVALUATION OF ONE-RANKED ELSS IN INDIA (Analyse the performance of ELSS Schemes during 2012-17)
Mutual funds ELSS schemes in the most effective tools for those who want to tax saving and higher return advantage of his investment. the certain regulation is mandatory for the tax benefit of ELSS schemes in India which makes differ from other diversified Equity funds. In this research paper, an attempt has been made to evaluate the performance of four one-ranked ELSS schemes in India on daily basis. For this purpose, we compared the one-ranked return of ELSS schemes along with benchmark index return which indicates the performance of ELSS schemes. More than 80% one-ranked ELSS schemes have been better performance as compared to benchmark index return in the short-term. All the one-ranked ELSS schemes high performed as compared to benchmark index return in the medium-term. All the one-ranked ELSS schemes also performed better as compared to benchmark index return in the long-term.
KEYWORDS: ELSS schemes, investment, liquidity, average return, mutual funds