Top ELSS buys - Short Summary

1. Magnum Taxgain [Relatively safe due to high cash exposure]
2. Reliance Tax Saver [Relatively safe due to high cash exposure]
3. Sundaram BNP Paribas Taxsaver [Like the overall portfolio structure except for the addition of Satyam during Dec '08]
4. Principal Personal Tax Saver [Good buy when market bottoms out. Avoid at this point]

Apart from the above, one can look at Kotak Tax Saver and Franklin Templeton TaxSchield for investment. I advice an SIP for six months duration(Jan '09-June '09) for better risk mitigation.

I'll review the performance of the recommended funds on a periodic basis.

Note: In terms of service, I dont rate Sundaram BNP Paribas MF too high. Their response time is one of the lowest in the industry(4 working days).