Net inflows in equity mutual funds stood at Rs 241 crore in June. Within equities, while multi-cap and large-cap funds have reported net outflows, ELSS reported net inflows of Rs 587 crore. In ELSS, the minimum investment amount is Rs 500 and there is no cap on the maximum investible amount. However, tax benefit is limited up to Rs 1.5 lakh a year u/s 80C. ELSS has the lowest lock-in period of 3 years compared to other tax-saving instruments such as PPF, NSC etc. However, this being an equity-linked fund, there is no guarantee of returns such as in PPF.