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Mutual funds: ELSS lose shine; spotlight on sectoral funds
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Equity-linked savings scheme (ELSS), a popular tax-saving investment option, is fast losing its sheen. Since January this year, this category has reported net outflow each month, barring March when it reported inflow of Rs 1,552 crore, data from Association of Mutual Funds in India show. Between January to October 2021, the net outflow was Rs 3,986 crore as investors preferred to invest in sectoral/ thematic funds with many capitalising extensively from the recent market rally.
Investors are not preferring to invest in ELSS due to the poor performance of most of the funds as compared with large and mid-cap funds. Typically, inflow in ELSS picks up in the last three months of the financial year, seen as the tax-saving season. However, with
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