Top 10 Best Mutual Funds Schemes To Invest in 2024

Mutual Funds

Investing in mutual funds has proven to be an effective long-term wealth creation strategy, offering individual investors a diversified and professionally managed portfolio. It’s crucial to identify the top-performing Mutual Funds schemes that have the potential to deliver impressive returns. This blog lists the top 10 best mutual funds for your investment portfolio. In any case, it’s important to note that the list is based on the past performance of the mutual funds scheme and doesn’t ensure future returns. Conducting good research and consulting with a financial consultant before making investment decisions is always recommended.

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The Income Mutual fund schemes aim to generate a stable income stream while preserving capital. Income Funds are a type of debt fund that primarily invests in fixed-income securities such as bonds and government securities, providing investors with regular dividend payments and potential capital appreciation. Top Performing income mutual funds schemes are:

  • Edelweiss Banking and PSU Debt Fund
  • ICICI Pru Short-Term Fund
  • SBI Magnum Income Fund
  • Aditya Birla Sunlife Income Fund

An International Equity Fund is classified as a mutual fund that primarily invests (more than 80% of its assets) in equity or equity-related instruments of foreign countries. These are an appropriate option for investors looking to diversify their portfolios internationally. It invests in equities of companies outside the domestic market, capitalizing on global growth opportunities and providing exposure to international markets. Top Performing international equity mutual funds are:

  • Franklin India Feeder Franklin US Opportunities Fund
  • ICICI Prudential US Bluechip Equity Fund
  • PGIM India Global Equity Opportunities Fund
  • Edelweiss Greater China Equity Off-Shore Fund

Small-cap funds are invested in Indian small companies, which are defined as those with a market capitalization of less than Rs. 5,000 crores. They are categorized as equity funds. These companies are usually not listed in the top 250. Small-cap funds invest at least 65% of their total portfolio in small-cap stocks.

The Small Cap Mutual fund scheme specializes in investing in small-cap stocks with the potential for significant growth. This Mutual fund focuses on identifying promising small companies with robust growth prospects, making it an attractive choice for investors seeking higher returns and a higher risk of capital invested. Top Performing Small Cap mutual funds are:

  • HDFC Small Cap Fund
  • Bank of India Small Cap Fund
  • Sundaram Small Cap Fund Reg (G)
  • Tata Smallcap Fund Reg (G)

The Balanced Advantage Mutual fund also known as Hybrid Fund offers a balanced approach to investing by allocating assets to equities and fixed-income securities. By making investments in asset classes like debt and equity, these mutual funds assist investors in diversifying their portfolios. This strategy helps investors benefit from potential capital appreciation while mitigating risk through the income generated from bonds. Top Performing Balanced Mutual funds are:

  • UTI Balanced Advantage Fund
  • Sundaram Balanced Advantage Fund
  • Bank of India Balanced Advantage Fund
  • Mirae Asset Balanced Advantage Fund

Mutual funds focused on infrastructure invest in the equity shares of businesses that operate in the infrastructure sector, which encompasses sectors such as utilities, construction, power, and energy. With the aim of enabling investors to participate in the country’s economic progress, these funds aim to take advantage of the growth potential of infrastructure development. Top Performing Infrastructure Mutual funds are:

  • UTI Infrastructure Fund
  • Sundaram Infrastructure Advantage Fund
  • Kotak Infrastructure & Economic Reform Fund
  • DSP India T.I.G.E.R. Fund Reg (G)

Large-cap funds are equity investment funds that focus on investing in the top 100 companies in India. These companies are among the biggest brands in our country, and most Indians use their products daily. At least 80% of the stocks in these funds are held by blue-chip companies.

Investing in large-cap stocks provides stability and exposure to well-established companies. The Large Cap Mutual fund schemes focuses on blue-chip stocks, allowing investors to have a share in the growth of industry leaders. Top Performing Large Cap Mutual funds are:

  • Bank of India Blue Chip Fund
  • JM Large Cap Fund
  • UTI Large &Mid Cap Fund (Formerly UTI Core Equity Fund)
  • Bank of India Large & Mid Cap Equity Fund
  • Whiteoak Capital Large & Mid Cap Fund Reg (G)
  • Kotak Bluechip Fund

Mid-cap funds typically invest primarily in the stocks of companies with market capitalizations in the range of small to medium. Up to 50% of the total assets in a mid-cap mutual fund‘s portfolio may be invested in mid-cap stocks, which are rated between 101st and 250th on the market capitalization scale.

The Mid Cap Mutual fund schemes target mid-sized companies with growth potential. This fund leverages the growth opportunities companies present in their growth phase, allowing investors to benefit from their upward trajectory. Top Performing Midcap Mutual funds are:

  • HDFC Mid Cap Opportunities Fund
  • Nippon India Growth Fund
  • Franklin India Prima Fund
  • Kotak Emerging Equity Fund
  • Sundaram Mid Cap Fund

Mutual funds focused on the healthcare industry fall under this category of sectoral funds. They can be categorized as sectoral equity funds or index funds. Healthcare funds, like all other sectoral funds, allocate at least 80% of their assets to stocks in the healthcare sector. Within the larger healthcare industry, these funds may be allocated to a number of subcategories, including hospitals, pharmacies, diagnostics, etc. Top Performing Health Care mutual funds are:

  • Kotak Healthcare Fund
  • UTI Healthcare Fund
  • Mirae Asset Healthcare Fund
  • Tata India Pharma & Health Care Fund
  • DSP Healthcare Fund

A mutual fund that invests the majority of its capital in securities from nations whose economies are regarded as emerging is known as an emerging market fund. t are considered to be emerging. The Emerging Markets Mutual fund schemes suit investors seeking exposure to emerging markets. This mutual fund invests in companies in developing sectors, tapping into the potential growth opportunities presented in this sector. Top Performing Emerging Markets mutual funds are:

  • Bandhan Sterling Value Fund
  • Invesco India Contra Fund
  • Invesco India Growth Opportunities Fund
  • Canara Robeco Emerging Equities Fund
  • Kotak Equity Opportunities Fund

Index funds are mutual funds that closely resemble an index. Fund managers are therefore keeping an eye on your investments and allocating your money to the same companies in the same proportion as the index while you spend money on an index budget. The Index Fund aims at the index’s performance. By investing stocks that make up the index, this fund provides investors with broad market exposure and the potential for steady long-term returns. Top Performing Index Mutual funds schemes are:

  • Nippon India Nifty Midcap 150 Index Fund
  • Motilal Oswal Nifty Smallcap 250 Index Fund
  • HDFC Index Fund-NIFTY 50
  • ICICI Prudential Nifty Next 50 Index Fund
  • Bandhan Nifty 50 Index Fund

Investing in Mutual Funds is an excellent way to grow your wealth over time. While the list above presents some top-performing mutual fund schemes in the past few years, it’s important to remember that past performance does not indicate future results. Additionally, individual investment goals, risk tolerance, and financial situations may differ, so conducting thorough research and consulting with a financial consultant before making investment decisions.

Long-term perspective and staying invested are key principles to remember when investing in mutual funds. By carefully selecting mutual funds that align with your investment objectives, it is very important to diversify the portfolio carefully as it is not recommended to put all the investment in one you can build a robust portfolio that will generate significant returns over time. Investing involves risks, and making informed decisions based on your financial circumstances and goals is essential. Kindly note that all the funds are selected based on the past year’s performance and do not guarantee future returns. We suggest you do thorough research before selecting and investing in mutual funds schemes. Mutual fund investment is subject to market risk, kindly read all offer documents properly before investing.

Kindly note above write is for knowledge purposes only and not a recommendation to invest in above above-given mutual fund schemes. We are not responsible for any loss incurred by investment in any of the above mutual fund schemes.

Why invest in mutual funds?

Mutual funds offer diversification, professional management, liquidity, and access to a wide range of investment options, making them a popular choice for long-term wealth creation.

How can I pick the best mutual fund?

Consider factors such as your investment goals, risk tolerance, time horizon, and financial situation. Researching past performance, fund managers’ expertise, expense ratios, and investment strategies can help in making informed decisions.

What is the importance of a long-term perspective in mutual fund investments?

Mutual funds are ideal for long-term wealth creation due to the power of compounding and the ability to ride out market fluctuations over time, which can lead to potentially higher returns.

Are past performance indicators of future returns for mutual funds?

Past performance can provide insights into a fund’s track record and management capabilities, but it doesn’t guarantee future results. It’s essential to consider various factors and conduct thorough research before investing.

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