Top Mutual Funds To Invest In 2024

Mutual Funds To Invest In 2024

Mutual funds are investment vehicles that let you invest in different stocks, bonds, and other securities by pooling your money with those of other investors. Mutual funds have low fees, are available through brokers or advisors, and are professionally managed.

Because they provide the chance to diversify across various asset classes without having to manage individual investments, mutual funds are among the most widely used investment vehicles. Furthermore, a specific investor may not otherwise have access to certain investments thanks to mutual funds.


Top 10 Mutual Funds To Invest In 2024 With High Returns

In India, mutual funds are among the most well-liked investment options. Mutual funds appeal to people for a variety of reasons. In comparison to other investment options, they offer a low expense ratio and a wide range of investment options. Moreover, they provide liquidity, something that many other investments do not.

There are certain mutual funds that you should think about investing in, regardless of how long you have been investing.

The top mutual funds for 2024 are listed below, and you should think about investing in them:

1) Axis Bluechip Fund

Specializing in stocks from a variety of industries, the Axis Bluechip Fund is a diversified equity fund. Since the fund’s establishment in 2010, Axis Mutual Fund has been in charge of managing it.

Being among the most well-liked funds in India, it has a history of providing returns for investors over the long term. Over an extended period, the fund has produced returns for investors by investing in stocks from various industries.

2) Mirae Asset Large Cap Fund

Large-cap stocks are the focus of the Mirae Asset Large Cap Fund mutual fund. The Mirae Asset Mutual Fund House is the owner. The fund has been managed by the company since its establishment on April 04, 2008. NIFTY 100 Total Return Index is used as a benchmark.

By making investments in high-growth potential stocks, the fund seeks to achieve long-term capital appreciation.

Top 10 mutual funds for investing in India frequently include the Mirae Asset Large Cap Fund.

3) Parag Parikh Long-Term Equity Fund

The Parag Parikh Long Term Equity Fund is an open-ended flexible-cap equity scheme that invests in stocks and equity-related securities. The fund invests in businesses with a long-term outlook.

Since its inception in 2013, the fund has been managed by PPFAS Mutual Fund. It compares to the NIFTY 500 Total Return Index.

4) UTI Flexi Cap Fund

UTI Flexi Cap Fund is a mutual fund that makes investments in equity and equity-related securities. Its investment strategy is flexible, allowing it to invest in any sector of the Indian economy.

The UTI Flexi Cap Fund is an open-ended equity scheme that can invest in a variety of assets, including stocks, bonds, and money market instruments. The fund primarily invests in stocks, but it is also exposed to fixed-income securities and money market instruments.

5) Axis Midcap Fund

The Axis Midcap Fund is an open-ended mid-cap equity scheme that tracks the S&P BSE 150 MidCap Total Return Index. Axis Mutual Fund has managed the fund since its inception in 2011.

6) Kotak Emerging Equity Fund

Kotak Mahindra Mutual Fund has launched an Equity Mutual Fund Scheme called Kotak Emerging Equity Fund Direct-Growth. Kotak Mahindra Mutual Fund has launched an Equity Mutual Fund Scheme called Kotak Emerging Equity Fund Direct-Growth.

The scheme invests primarily in mid-capitalization companies in order to generate long-term capital appreciation from a portfolio of equity and equity-related securities. The fund has been in operation since January 1, 2013, and its average annual returns have been 6.26% since inception.

7) Axis Small Cap Fund

Axis Mutual Fund launched the Axis Small Cap Fund Direct-Growth equity mutual fund scheme. The scheme aims to generate long-term capital appreciation through a diversified portfolio of small-cap company equity and equity-related instruments.

8) SBI Small Cap Fund

SBI Small Cap Fund Direct-Growth is an equity mutual fund scheme introduced by SBI Mutual Fund.

The scheme aims to provide investors with opportunities for long-term capital growth as well as the liquidity of an open-ended scheme by investing primarily in a well-diversified basket of small-cap equity stocks.

9) SBI Equity Hybrid Fund

SBI Mutual Fund introduced the Hybrid Mutual Fund Scheme SBI Equity Hybrid Fund Direct Plan-Growth.

By investing in a combination of debt and equity, the scheme aims to give investors long-term capital appreciation in addition to the liquidity of an open-ended scheme.

10) Mirae Asset Hybrid Equity Fund

Mirae Asset Hybrid Equity Fund Direct-Growth is a Hybrid Mutual Fund Scheme launched by Mirae Asset Mutual Fund.

The Scheme seeks to generate capital appreciation and current income from a combined portfolio of equity & equity-related instruments and debt and money market instruments.

Also Read: What are Mutual Funds? | How it works | A Complete Guide

Considerations for Mutual Funds to Invest in 2024

  • Your Financial Goals: It is advisable to begin determining your financial objectives prior to making any investment decisions. This will assist you in determining whether you need funds focused on equity or debt to achieve your objectives. Then, based on your level of risk tolerance and other considerations like time horizon and liquidity requirements, etc., you can use tools like online spreadsheets to create multiple scenarios based on various possible outcomes and select the best possible option for yourself from among them.
  • Expense Ratio: The amount of money used to cover advertising expenses, fund manager salary, and other overhead is known as the expense ratio. If this figure is more than 1%, it should ideally be less than 1%. This is due to the fund’s continuous history of producing strong returns. Paying more for fees up front may be worth it for you to gain some extra points in your account rather than later, when those fees would have diminished your gains (or, worse—caused losses).
  • Risk Tolerance: It would be best to think about your risk tolerance before making a mutual fund investment. This will assist you in determining the kind of returns that the market will yield. When the market is performing well and has significant room for growth, it is the ideal time to invest in mutual funds. But before you buy mutual funds, it would be ideal if you also looked at the level of market volatility.
  • Fund Manager Experience: The longer a fund manager has been managing funds successfully, the better. This will give them more experience handling situations like downturns in markets. A seasoned fund manager will have more experience investing in general and specific market conditions such as bull or bear markets. This experience can help you navigate through tough times and take advantage of good times when they come along.
  • Your Investment Horizon: Recognize the length of time you intend to hang onto your investment. There are two types of mutual fund investments: short-term (less than five years) and long-term (more than five years). When making an investment for the long run, seek out low-risk options that have slower returns but steady growth over time. If you are investing for the short term, search for funds that invest in stocks and bonds with higher risk but higher potential return.
  • Fund Performance: The goal of mutual funds is to consistently outperform the market. If they can’t do that, they’re not performing their job properly. Therefore, you should make sure that any mutual fund you select has produced consistently strong returns over the previous few years; ideally, the data spans at least five years.
  • Taxes: Lastly, while selecting mutual funds, taxes must be taken into account; certain funds are taxable, while others are not.

Bottom Line

Over the past ten years, mutual funds have proven to be a profitable investment option for Indian investors. They provide an easy, affordable means of diversifying your investments and can be used to increase your wealth while limiting risk.

They are a desirable alternative because they provide access to a variety of resources that could be costly or challenging to acquire separately. This covers equities, bonds, gold, property, and more. Additionally, mutual funds give you access to these assets at a lower cost than you would pay if you were purchasing them individually by combining the funds of several investors.

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