value of investment of Rs.10000 invested in hdfc elss tax saver kamesh, 15 Apr 2013

the nav of hsfc elss taxsaver increased from Rs.10/- in 1999 to 216/- in 2013. How can an investment of 10000/- in 1999 become Rs.516000/- today? i have seen this in hdfc site. kindly clarify.thank you.

Fintotal Answer

What you've seen is most likely a monthly SIP of Rs 10,000 from 1999. In this case the total investment in 14 years would have been Rs 16,80,000 (10000x14x12). HDFC Taxsaver has given approximately 20% annual returns since inception so if you had been investing Rs 10,000 every month in that fund since 1999 you'd have about Rs 52 lakhs today! So much is the power of compounding and cost averaging in mutual fund SIP.

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