MF Query Board

Please guide about whether Nippon India Tax Saver Fund is a good tax-saving fund for long-term wealth creation?

For investors with moderately high to high risk appetites, mutual equity linked savings schemes (ELSS) are one of the best Section 80 C investment options for wealth creation. If you had invested ₹10,000 per month in Nippon India Tax Saver Fund through systematic investment plan (SIP) 10 years back, your investment would have grown in value to nearly ₹21.11 lakhs by now (XIRR of 10.97 per cent) against your investment of ₹12 lakhs (SIP start date November 1, 2012 with return as on October 14, 2022. The chart below shows the growth of ₹10,000 monthly SIP investment in Nippon India Tax Saver Fund over the last 10 years compared to Public Provident Fund.