Is it prudent to keep your money in a tax-saving mutual fund scheme beyond the mandatory lock-in period of three years? A large number of investment experts think otherwise. They believe that transferring the money from a tax-saving scheme to a diversified scheme after the lock-in period would help you as an investor to maximize your returns as most tax-saving schemes are trailing diversified schemes on returns posted in the three- and five-year periods. Tax-saving schemes or equity-linked saving schemes (ELSS) qualify for deduction of up to Rs 1 lakh under section 80C of the I-T Act.

Sundaram BNP Paribas Mutual Fund has launched a new fund named as Sundaram BNP Paribas Monthly Income Plan (MIP) - Conservative & Aggressive Plans, an open ended income scheme. The new issue is open for subscription from 25 January 2010 and closes on 23 February 2010.