Best Mutual Funds to Invest in 2024 For SIP
A mutual fund is the best investment right now because it allows you the
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- Insurance Companies
- Mutual Funds
|
Returns |
| Fund Name |
3 Years |
5 Years |
10 Years |
| PNB Metlife |
17.59% |
26.28% |
|
| Birla Sun Life |
16.46% |
22.3% |
|
| Tata AIA |
15.6% |
22.37% |
|
| Bajaj Allianz |
16.09% |
21.14% |
|
| Bharti AXA |
12.28% |
19.29% |
|
| HDFC Standard |
12.23% |
18.23% |
|
| Max Life |
11.9% |
17.66% |
|
| SBI |
12.46% |
17.13% |
|
| ICICI Prudential |
10.9% |
16.61% |
|
| Canara HSBC Oriental Bank |
10.71% |
14.33% |
|
| |
Returns |
| Fund Name |
3 Years |
5 Years |
10 Years |
| Active Fund QUANT |
24.92% |
31.48% |
|
| Flexi Cap Fund PARAG PARIKH |
20.69% |
26.41% |
|
| Large and Mid-Cap Fund EDELWEISS |
22.34% |
24.29% |
|
| Equity Opportunities Fund KOTAK |
24.64% |
25.01% |
|
| Large and Midcap Fund MIRAE ASSET |
19.74% |
24.32% |
|
| Flexi Cap Fund PGIM INDIA |
14.75% |
23.39% |
|
| Flexi Cap Fund DSP |
18.41% |
22.33% |
|
| Emerging Equities Fund CANARA ROBECO |
20.05% |
21.80% |
|
| Focused fund SUNDARAM |
18.27% |
18.22% |
|
To make a selection in any of the mutual fund categories, i.e., debt, equity, or hybrid, keeping track of the top mutual funds to invest in 2024 becomes essential.
Best Equity Mutual Funds to Invest in 2024
Being market-linked investments, equity mutual funds come with a high-risk factor. However, an investor with the willingness and capability to take more risks can choose to invest in these best mutual funds. Furthermore, it is important to know that investing in equities over the longer term of up to 5 years generally comes with high returns.
Let us have a look below at the top equity mutual funds to invest in 2024:
| Name of the Fund Scheme |
Inception Date |
Assets Under Management (AUM) |
Expense Ratio* |
3-year Fund Returns (In %) |
5-year Fund Returns (In %) |
10-year Fund Returns (In %) |
| ICICI Pru Technology Direct Plan-Growth |
January 1, 2013 |
Rs. 11,873 crores |
0.88% |
20.89% |
26.12% |
19.75% |
| Quant Small Cap Fund Direct Plan-Growth |
January 7, 2013 |
Rs. 13,001 crores |
0.77% |
45.62% |
34.92% |
20.56% |
| Quant Tax Saver Plan Direct-Growth |
January 7, 2013 |
Rs. 6,416 crores |
0.76% |
33.07% |
31.39% |
26.48% |
| SBI Technology Opportunities Fund Direct-Growth |
January 10, 2013 |
Rs. 3,586 crores |
0.85% |
21.92% |
25.31% |
18.42% |
| Tata Digital India Fund Direct-Growth |
December 28, 2015 |
Rs. 9,271 crores |
0.32% |
22.04% |
26.77% |
N/A |
*As declared on 15 January 2024.
**Returns as on January 17, 2024.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
Best Debt Mutual Funds to Invest in 2024
Debt mutual funds are low-risk investment instruments that are chosen by investors who cannot afford to take high risks. Such investors want to keep their money in mutual funds for a short period of time in order to earn moderate returns.
Check out the table below to learn about the best mutual funds to invest in 2024:
| Name of the Fund Scheme |
Inception Date |
Assets Under Management (AUM) |
Expense Ratio |
1-year Return (In %) |
3-year Return (In %) |
5-year Return (In %) |
10-year Return (In %) |
| Aditya Birla Sun Life Medium Term Direct Plan-Growth |
January 2, 2013 |
Rs. 1,896 crores |
0.85% |
7.79% |
13.42% |
8.92% |
9.25% |
| DSP Government Securities Direct Plan-Growth |
January 1, 2013 |
Rs. 638 crores |
0.54% |
7.97% |
5.15% |
8.39% |
8.64% |
| ICICI Pru Credit Risk Fund Direct Plan-Growth |
January 2, 2013 |
Rs. 7,323 crores |
0.87% |
8.52% |
7.07% |
8.32% |
8.91% |
| Bandhan Government Securities Fund Constant Maturity Direct-Growth |
January 2, 2013 |
Rs. 316 crores |
0.52% |
7.70% |
3.62% |
7.61% |
8.55% |
| Kotak Gilt Investment Direct-Growth |
January 2, 2013 |
Rs. 2,983 crores |
0.45% |
8.51% |
5.21% |
8.26% |
9.05% |
*As declared on 15 January 2024.
**Returns as on January 17, 2024.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
People Also Read: Nifty Midcap 150
Best Performing Hybrid Mutual Funds to Invest in 2024
Hybrid mutual funds invest a portion of the investor's money in both equity and debt mutual funds. Therefore, it is suitable for investors who want to balance their risks for a favorable return on their investment.
Have a look at the table below to learn about the best-performing mutual funds to invest in 2024:
| Name of the Fund Scheme |
Inception Date |
Assets Under Management (AUM) |
Expense Ratio |
1-year Return (In %) |
3-year Return (In %) |
5-year Return (In %) |
10-year Return (In %) |
| ICICI Pru Multi Asset Fund Direct-Growth |
January 1, 2013 |
Rs. 30,650 crores |
0.86% |
26.41% |
24.44% |
19.31% |
17.08% |
| ICICI Pru Thematic Advantage Fund (FOF) Direct-Growth |
April 4, 2013 |
Rs. 1,440 crores |
0.45% |
29.82% |
23.96% |
20.97% |
16.05% |
| Kotak Multi Asset Allocator FoF- Dynamic Direct-Growth |
January 9, 2013 |
Rs. 1,265 crores |
0.3% |
24.91% |
20.33% |
19.80% |
17.18% |
| Quant Absolute Fund Direct-Growth |
January 7, 2013 |
Rs. 1,546 crores |
0.75% |
21.86% |
23.62% |
24.05% |
19.93% |
| Quant Multi Asset Fund Direct-Growth |
January 7, 2013 |
Rs. 1,288 crores |
0.61% |
26.56% |
32.21% |
26.52% |
16.16% |
*As declared on 15 January 2024.
**Returns as on January 17, 2024.
Disclaimer: Policybazaar does not endorse, rate, or recommend any particular company or product. The policyholder bears the investment risk in the investment portfolio.
How to Understand which is the Best Mutual Fund to Invest in for You?
Now, we all know the many top mutual funds available for investment. But is it good to invest in any top-performing mutual funds in India? Definitely No! Just as it is important to learn about the best-performing mutual funds, it is equally important to know "what to invest in right now."
The answer to this query is that there is not one mutual fund that can suffice to target all your financial needs. Therefore, one must include a mix of the following factors to narrow down the best mutual funds to invest in 2024:
-
Keep Your Financial Objectives in Mind
Assess your financial goals properly while keeping in mind the aspirations of your family. This will help you decide whether to invest in a debt or equity portfolio for the best performance of your mutual fund investments.
For Example, if an individual wants to build a retirement corpus for his and his family's secured future, he will choose the best equity mutual funds for long-term investment.
The comparison among the best mutual fund schemes will also become easier along the lines of your particular investment objectives if you analyze your financial goals thoroughly.
-
Check Your Investment Horizon
If you want to keep your money invested for longer than 5 years, look for low-risk investments that offer small returns with steady growth.
However, if you are investing in the best mutual funds for a short period of time, up to 5 years, you must choose high-risk, best-performing mutual funds. Online tool like SIP calculator can be used to analyze the SIP returns.
-
Understand Your Risk-Taking Appetite
Understanding your risk-taking appetite will help you to understand your expectations for the returns from the best mutual funds.
Along with this, market volatility and the potential growth of the best mutual funds should be considered before investing.
-
Analyze the Fund Performance Track Record
The best mutual fund to invest in is supposed to outperform the market benchmarks with consistently good returns over a period of time (generally, a 3 to 5-year track record is important).
Check the fund's performance if major impacts occurred over several business cycles and market fluctuations.
-
Look at the Expense Ratio
The expense ratio is the percentage of the mutual fund's assets deducted from an investor's total returns as management fees. If a large sum is going to the fund management houses, automatically, your returns will get impacted.
Therefore, it is equally important to know if you are getting all the returns for your investments in the best performing mutual funds.
-
Enquire about the Fund Manager's Experience
The fund manager is the asset management expert who handles your investment portfolio, fund monitoring, buying and selling of funds, and more. Therefore, it becomes important to have a look at their track record.
You can also check the different best-performing mutual fund schemes that are managed by the respective fund manager.
-
Consider the Taxes and Cess Applicable
It is equally essential to consider the taxes, cess, and surcharges applicable when selecting the best mutual fund investments. Best tax-free mutual fund schemes are also available in the market, while others may not be tax-free.
To get the better idea, it is suggested to study the best SIP plans to invest as well in the market before investing.
People Also Read: ICICI Prudential Nifty Midcap 150
Wrapping it Up!
The lucrative benefits of investment in top mutual funds in 2024 have always attracted market investors in India. The best mutual funds have diverse fund portfolios, low-cost management, manageable risks, and are simple to use. These investment products are the best way to build a large corpus over a period of time and make your money grow even within a short time horizon. The importance of comparing your options before making the best investment right now can never be overstated.
FAQ's
-
Which mutual fund is best for 2024?
The best mutual funds to invest in 2024 are as follows:
- Axis Blue Chip Fund
- Mirae Asset Large Cap Fund
- Parag Parikh Flexi Cap Fund
- Axis Midcap Fund
- SBI Small Cap Fund
- Kotak Emerging Equity Fund
-
Which mutual fund is best for 3 years?
The best mutual funds to invest in for 3 years are listed below:
- Quant Small Cap Fund Direct Plan-Growth
- Quant Tax Plan Direct-Growth
- ICICI Pru Technology Direct Plan-Growth
- Quant Multi Asset Fund Direct-Growth
- Quant Absolute Fund Direct-Growth
-
Which mutual funds are best for 5 years?
The following are the best-performing mutual funds for 5 years to invest in 2024:
- Quant Small Cap Fund Direct Plan-Growth
- Tata Digital India Fund Direct-Growth
- ICICI Pru Technology Direct Plan-Growth
- SBI Technology Opportunities Fund Direct-Growth
- Quant Tax Plan Direct-Growth
-
Where to invest Rs. 1 lakh lump sum?
One can invest the lump sum of Rs 1 lakh in any of the following best-performing mutual funds:
- Axis Blue Chip Fund Growth
- ICICI Prudential Technology Fund Growth
- Aditya Birla Sun Life Tax Relief 96 Growth
- SBI Technology Opportunities Fund Direct-Growth
- Quant Tax Plan Growth Option Direct Plan
-
Is SIP better than a lump sum?
SIP investment is better for small investors if they want to enter the mutual fund market in different market cycles. This allows them the risk coverage of investing a small sum of money spread across various fund portfolios. However, if you are investing in consistently good mutual funds during a market low, it is advised to invest in a lump sum.
