Smriti Irani has invested in this ELLS tax saver mutual fund; see how Rs 10K SIP has grown in 5 years

Smriti Irani has invested in Motilal Oswal Tax Saver Fund among other funds. It is an Equity Linked Savings Scheme (ELSS) fund that provides tax benefits of up to Rs 1.50 lakh under Section 80C of the Income Tax Act. For the 2024 Lok Sabha Elections, Smriti Irani has filed a nomination from the Amethi Lok Sabha seat in Uttar Pradesh. Smriti Irani is contesting this seat for the third time. In the year 2019, she defeated Rahul Gandhi from this stronghold of the Gandhi family.

In her affidavit, she declared that she had invested in some of the mutual funds. Apart from Smriti, her husband Zubin Irani has also invested in mutual funds.  

According to her affidavit, Smriti has assets worth Rs 17 crore.

She has invested in Magnum Midcap Fund. The market value of her investment in the mutual fund is Rs 23.29 lakh.

Investment in ELSS FundTwo other mutual funds, where she has invested are Kotak Emerging Fund and Motilal Oswal Tax Saver Fund. 

In Kotak Emerging Fund, the market value of her investments is Rs 1,48,267, while in Motilal Oswal, it is Rs 1,818,419.

Motilal Oswal Tax Saver Fund is an Equity Linked Savings Scheme (ELSS) fund.

What is Motilal Oswal Tax Saver Fund?

Motilal Oswal ELSS Tax Saver Fund has given a 22.81 per cent return in the last five years as a lump sum investment.

It is fourth in the list of the top ELSS mutual funds in the five-year period.

However, in terms of SIP returns, its XIRR for the five years is 28.33 per cent.

The fund has an asset under management (AUM) of Rs 3,424.50 crore, while the net asset value (NAV) under its direct plan is Rs 50.0217.

A Rs 10,000 SIP in the fund in the five-year period has given a total of Rs 12,22.756.60. 

Two other mutual funds where Smriti has invested her money are SBI Blue Chip Fund and DSP Tiger Fund.

In SBI Blue Chip Fund, her investment market value is Rs 18.61 lakh, while in DSP Tiger Fund, it is Rs 67,934.

Smriti has also invested in DSP Overnight Fund, whose market value is Rs 9,127.

The Union Minister has also invested in SBI-Focused Equity Fund, which has a market value of Rs 1,23,943.

Her husband, Zubin, has invested in HDFC Small Cap, Motilal Oswal Flexi Cap Fund, Motilal Oswal ELSS Flexi Tax Saver Fund, and Nippon India ETF Liquid Seed Fund.

Investment in post office scheme

Apart from these investments, Smriti has also invested in Mahila Samman Savings Certificate. 

It is a woman-centric scheme run by the post office. 

The scheme encourages women to make small savings and boost their financial well-being.