TAX SAVING IDEAS: ELSS

The Financial Year is approaching its end. Its time to invest funds to save taxes. As you are aware Section 80C of IT Act allows deductions upto RS. 1,00,000 for investments in specific schemes, incl. PPF, NSC, Insurance and of course ELSS schemes of Mutual Funds.
ELSS (Equty linked savings scheme) of Mutual Funds have consistently beaten all other investment options, so it is prudent to invest a major chunk of your investments in these instruments.
Which are the best performing ELSS schemes? I have shortlisted the best two, and their comparisons. You can choose your option from these two blue chip funds:

Magnum TAX Gain(from SBI MF) Vs. HDFC Tax saver(G)
Launch date: Magnum:March 1993 , HDFC:March 1996
NAV as on 15.02.08: Magnum:57.88 , HDFC:173.85
Expense Ratio : Magnum:1.89% HDFC:2.14%
Investment break-up: Magnum:Equity-89%, HDFC:Equity-97%
Top 10 holdings :
Magnum; (RIL, JP assoc., Welspun Gujarat, L&T, Reliance Comm.,
HDFC, IDFC, ICICI Bank, Axis bank, Crompton Greaves.)
HDFC: (ICICI bank, L&T, ITC, Crompton Greaves, RIL, Thermax,
SBI, Suzlon energy, BHEL, Amtek Auto)
% of Top 10 Holdings: MAGNUM:33%, HDFC:49%
Top 3 sectors:
Magnum: Financials-15%, Energy-12%, Diversified-12%
HDFC: Engineering-20%,Financials-19%,Energy-9%
RETURNS:
1 year: Magnum:29.13%, HDFC:18.47%
3 Years: Magnum51.16%, HDFC37.71%
5 Years: Magnum70.61%, HDFC 55.68%

So, the above data will help you understand the return potential of ELSS schemes, make your choice and see your money grow with tax savings as a bonus.