Performance Evaluation of Selected Open Ended Direct –Growth ELSS of Public Sector Banks Mutual Funds in Pre and Post Covid -19 Period

Abstract

Investors can make good returns by investing in different types of mutual fund schemes. For tax savers ELSS funds are one of the source to save tax and also to get long term wealth creation. This study examines to assess the performance by various statistical instruments like Mean, Standard Deviation (S.D.), and Coefficient of Variance (CV) of the top five public sectors ELSS in India during the pre and post Covid-19 Period from (01-10-2019 to 31-12-2020) and also to analyse the mean difference of demographic variables on the satisfaction levels of Equity Linked savings scheme (ELSS) mutual fund investors in Hyderabad and its sub urban areas. The dataset is utilized to test the hypothesis postulated in this study using one way ANOVA. The sample of the study was 200 open ended tax saving mutual fund investors.  Individual investors demographic factors were considered as independent variables and dependent variable considered as satisfaction level. It also proposes appropriate public sector ELSS schemes for investors to meet their investment objectives. In this major Covid-19 crisis, the study finds that public sector tax saving mutual fund schemes are performing very well compared to the benchmark (S&P 100 BSE). This proves that mutual fund investments are suitable for small investors. The outcomes indicated that there is significant difference between satisfaction levels and the demographic factors. Key factors are education qualification, monthly income, occupation and age are very significantly impacting on their satisfaction levels. This study can be further expanded by adopting other ELSS mutual fund schemes of the public & private sector banks and other Health mutual fund schemes institutions.