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| Discuss Investing in TAX SAVING MF's at the Introductions within the Traderji.com - Discussion forum for Stocks Commodities & Forex; hello guys! I am planning to invest in some of the TAX saving MF's. With ... |
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#1
6th October 2005, 02:41 PM
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Investing in TAX SAVING MF's
hello guys!
I am planning to invest in some of the TAX saving MF's. With the help of money control I have zeroed in on these 2 following funds. HDFC Tax Saver (G) & Magnum Tax Gain Scheme. These two funds are top 2 funds in Equity Tax Saving sector. My question is.. is it correct to invest in 2 tax saving funds simultaniously.In each & every artical it has been mentioned that the portfolio has to be nicely diversified. I have already invested in HDFC multi cap fund through SIP.(dont think I can save any tax out of this) I Have gone through the portfolio of these tax saving funds. They are prety different & diversified. But i still need an expert openion on this. Is it advasable to go for 2 tax saving funds at the same time. Please let me know the details. Thanks Bharath 
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#2
6th October 2005, 03:01 PM
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Re: Investing in TAX SAVING MF's
Dear Bharathbn,
There is absolutely no harm in investing in two ELSS funds. In fact, it's a very good idea. Both the funds you have chosen have been performing well. The only thing to watch out for is not to let your Mutual Fund Portfolio get too diversified. If you have invested in 15 - 20 funds, it gets difficult to keep a track of them. In my opinion, an overall figure of eight to ten good funds (inclusive of all types: debt, equity, hybrid, tax saving etc, that you want) is easy to manage. Last edited by coljaspal; 6th October 2005 at 03:03 PM. Reason: typos!
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#3
6th October 2005, 03:15 PM
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Re: Investing in TAX SAVING MF's
As of now I have only HDFC PMCF. I am new to this, just a beginner.
Slowly planning to build my protfolio. Thanks a lot for your suggestions. I will come back to you guys with more in near future. Thanks Bharath
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