How to select best ELSS mutual fund for tax saving ?

These are mutual fund with the advantage of Tax saving upto Rs. 1Lakh. But there are so many funds - confusing.

About 15 days back one person asked same question, in which mutual fund to invest?. The below given answer was selected as the best answer.

" The best according to past performance is Magnum Tax saver of SBI is at number 1 spot with highest return. Second in the run is HDFC's Tax Saver and the third is ICICI Prudential. Choose the one according to your wish but also see that where they invest in the market. Since it is a Long Term investment you take your decision after analysing these three funds properly since there is 3 years lock period on the investment in these fund. "

another answer was:

" SBI & HDFC are in top. I am giving you a web link. Go through carefully. "

http://inhome.rediff.com/money/2006/may/...

Reddy

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