Hybrid Mutual Fund Schemes: A Study of the Performance of selected Equity Linked Savings Scheme

An Equity Linked Savings Scheme (ELSS) is an open Equity Mutual Fund that not only helps to investors for saving the tax, but also gives an opportunity to grow the money and tax exemptions. The study measures the performance and growth pattern of ELSS of selected banks with the help of selected parameters such as Return, Beta (β) value, R Standard Deviation, Sharpe's Ratio, Risk Adjusted CAGR, Expense Ratio, etc. The study concluded that the ELSS mutual funds are becoming the preferred choice of investment as it capable to provide better returns than the other tax saving options.