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Thread: Tax Saving Mutual Funds

  1. #11
    NewBie
    Join Date
    Dec 2011
    Location
    tihar
    Posts
    22

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    Quote Originally Posted by damon View Post
    If my opinion is considered, i would suggest you to go for SBI Magnum TaxGain. Choosing a government firm is wise. As far as safety is concerned, you can rest assure.
    SBI is a government company but that doesnt mean its safest.I have invested 5k around 5 years back its value is not even 3k right now.
    Also see last 5 years return its on top 10 of worst performing tax savings fund.

    Its hay days are over around 2005-2006 when its hero fund manager left the company.

    Also being a government .They invest in worst performing government assets what i have seen so they keep remain floating and tax payer money goes down the drain.


  2. #12
    Administrator
    Join Date
    Apr 2009
    Location
    Chennai
    Posts
    255

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    Magnet - I am believer of reviewing my mutual funds every year (yes, you cannot withdraw before three years in ELSS :-() but you can avoid further investing in it. And UTI US 64 everyone aware about is also govt. backed.
    You will pick up maximum wrong numbers when on roaming.


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