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Top 10 Mutual Funds in India | Review Best Mutual Funds of 2024

Last Updated Date - Jan 02, 2024

Find unbiased review of Top 10 Mutual Funds in India. In this Article, we will have a detailed analysis of Best Mutual Funds of 2024 & what volume of returns & risk they offer.

Nowadays, Mutual fund investments are in the spotlight to give the best speculation choices to the long haul production of capital.

It is extraordinary compared to other choices to procure significant yields while maintaining a strategic distance from expense installments in the meantime.

So, here have a look at the details of mutual funds.


What are Mutual Funds?

A mutual fund is a mode of investment which is specially made to pool of money collected from many traders or investors for the aim of investing in the high security includes money market instruments, stocks, bonds and other assets. It is operated by the experienced money managers who try to produce capital gains.

It is the professionally managed investment schemes on record of the performance and growth of the funds. Mutual Funds are under controlled of AMC or Asset Management Company who works to gather funds of the people when they buy units of certain companies.

It would be good to consider certain points for healthy mutual fund return of your investment. So, here have a look at the points.

  • SIP should be continued for a minimum period of 5 years to get the highest return.
  • Never leave the exciting SIPs for low returns.
  • Move from debt funds to fixed deposits for certain returns.

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    Ranking of Top 10 Mutual Funds in India:

    Here is the list of Best Mutual Funds of 2024:

    Rank Name of the Mutual Fund 1 Yr. Return 3 Yr. Return
    1 ICICI Prudential Focused Bluechip Equity Fund 0.36% 12.70%
    2 Aditya Birla Sun Life Small & Midcap Fund -24.30% 9.80%
    3 Tata Equity PE Fund -8.30% 14.50%
    4 HDFC Monthly Income Plan – MTP -0.10% 7.90%
    5 L&T Tax Advantage Fund -8.70% 12.10%
    6 SBI Nifty Index Fund 3.40% 11.60%
    7 Kotak Corporate Bond Fund 8.80% 11.70%
    8 Canara Robeco Gilt PGS 4.70% 8.50%
    9 DSP BlackRock Balanced Fund -6% 9.30%
    10 Axis Liquid Fund 7.40% 7.30%

    Different Types of Mutual Funds:

    Objective, assets class and structure- these three are the most important category of mutual fund and, on this category, the mutual fund divided into different types. So, here have a look at the types of mutual funds:

    Equity Funds:

    This is a most used type of Mutual Fund which invests money mainly in stocks. In equity funds, there are two ways to managed funds such as actively and passively. It offers a wide result but, the risk factor is also high in this.

    Debt Funds:

    This kind of mutual fund is the investment in fixed-income securities. You can get many options to invest your money such as long-term investment bonds, short-term investment bonds, money market instruments, securitized funds and, floating rate debt.

    Equity-Linked Savings Schemes or ELSS Funds

    This is the type of Mutual Fund that comes under equity and it is close-funded in nature. This is best to save the tax rate as well as this saving schemes will help you to grow your wealth. Investors can enjoy the tax deduction according to the Income Tax Act under Section 80C.

    Diversified Funds:

    This kind of mutual fund will allow the traders and investors to put their hard-earned money in different sectors. You can spread your money in diverse companies in the market to get the highest return.

    Gilt Funds:

    Fund related to this will provide by the state and central government and, it is the best fund to invest because it comes without any default risk.

    Index Funds:

    How a stock market index works will decide your investment. It completely follows the rise and fall in the index of NAV.

    Liquid Funds

    This kind of mutual fund will prepare the funds mainly to money market tools like a certificate of deposits, commercial papers, treasury bills, term deposits, etc.  The maturity period of this fund is lower.

    Debt-Oriented Hybrid Funds

    In this mutual fund your money is invested in two different places. Firs it will spend in the debt and whatever amount will be left will be invested in the equity.

    Arbitrage Funds

    This is the very famous fund for taxation purposes. These funds are treated as equity. People have a choice in this fund as they can spend in the cash market and the derivatives market. But, it is good to take advice on which market fund they should invest.

    Dynamic Bond Funds

    Again in this mutual fund, your money will be invested in two things. First, your money will be invested in debt and second in money-market instruments. The maturity date and rate will depend on the investment segment you choose to put your money in.

    Over the past few years, the number of these mutual funds have increased significantly as people are more interested in Mutual Fund Investment. Now, people have lots of options from which they can choose the best mutual fund to invest their hard earned money.


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      Analyze Best Mutual Funds of 2024:

      The below-mentioned mutual funds are in the list of top 10 funds which you can consider for your next investment.

      Lets have a detailed analysis of Top 10 Mutual Funds in India:

      ICICI Prudential Focused Blue-chip Equity Fund

      ICICI Prudential is one of the most famous and leading asset Management Company in India.  It works to fulfill the gap between savings & investments as well as it will create long-term wealth for investors.

      The plan offers by them is very famous among investors and advisors due to its high-return scale on minimum investment of Rs. 500. Invest less and get more concept is superb as it is the growth investment plan. The asset size of the fund is Rs. 14343. 08 and date is Sep. 2018.

      The return rates of this fund are as follows:

      Period Return
      6th month 0.40%
      1st year 0.36%
      3rd year 12.70%

      Aditya Birla Sun Life Small and Midcap Fund

      Investors and advisers who are seeking for a suitable product can choose Aditya Birla Sun Life Small and Midcap Fund for long-term capital growth.

      With minimum investment of Rs. 5,000, this fund follows the investment plan of growth. Investments predominantly in property and equity-related securities of corporations studied to be small and midcap. The asset size of the fund is Rs. 1776. 85 and date is Sep. 2018.

      The return rates of this fund are as follows:

      Period Return
      6th month -10. 4%
      1st year -24.3
      3rd year 9.8

      Tata Equity PE Fund :

      The best mutual fund is what in which stocks that trade for less than their intrinsic values and for this considering Tata Equity PE is best.

      On minimum Investment is Rs.5000 and exist load of 1.00%, this is the best mutual fund to invest. The asset size of the fund is Rs. 4293. 64 and date is Sep. 2018. It was launch on May 06, 0004 and the benchmark of this fund is S&P BSE SENSEX.

      The return rates of this fund are as follows:

      Period Return
      6th month -5.20%
      1st year -8.3
      3rd year 14.50%

      HDFC Monthly Income Plan – MTP :

      The scheme under this fund is to generate regular returns through investment originally in debt and money market instruments.

      The benchmark of this fund is NIFTY MIDCAP 100 and you can do investment with the minimum investment of Rs. 5000. The asset size of this fund is Rs. 235. 26 and date is Sep 30, 2018.

      The return rates of this fund are as follows:

      Period Return
      6th month
      1st year -0.70%
      3rd year 7.90%

      L&T Tax Advantage Fund :

      This is open-ended equity linked to savings scheme with a legal lock-in of 3 years. Lunch in January 2006, the main objective of this fund is to generate long-term capital growth with the minimum investment Rs. 500 and the benchmark is S&P BSE 200. The asset size of this fund is Rs. 3156. 62 and date is Sep 30, 2018.

      The return rates of this fund are as follows:

      Period Return
      6th month -5.00%
      1st year -8.70%
      3rd year 12.70%

      SBI Nifty Index Fund :

      This mutual fund will run on the stocks comprising the Nifty 50 index. The main aim of this scheme is to get returns similar to the Total Returns Index of Nifty 50 index.

      This will open with the minimum investment of Rs.5000. The asset size of this fund is Rs. 235. 26 and date is Sep 30, 2018.

      The return rates of this fund are as follows:

      Period Return
      6th month -5.00%
      1st year -8.70%
      3rd year 12.70%

      Kotak Corporate Bond Fund :

      Kotak Mutual Fund is undoubtedly very stable mutual fund. You can invest with the minimum investment of Rs.5000 in CRISIL Composite Bond Fund benchmark.

      If you want to get the high return then, it would be good to consider this for your investment. The asset size of this fund is 0.6 Cr. and date is Dec 31,2016.

      The return rates of this fund are as follows:

      Period Return
      6th month
      1st year 8.80%
      3rd year 11.70%

      Canara Robeco Gilt PGS :

      Canara Robeco Gilt Fund offers long-term capital appreciation as well as risk-free return. Only invest in the Government securities, the benchmark of this mutual fund is I-Sec Li- BEX.

      Launch on Apr 01, 2000, this fund can be open by minimum investment of Rs.5000. This is the open-ended type with asset size Rs. 38.67 Cr. and date is Sep 30, 2018.

      The return rates of this fund are as follows:

      Period Return
      6th month 4.20%
      1st year 4.70%
      3rd year 8.40%

      DSP Equity & Bond Fund

      DSP Equity & Bond Fund is an open-ended balanced scheme which is looking to generate the long-term capital appreciation as well as current income from a portfolio.

      This fund was launched on May 15, 1999; and CRISIL Balance Fund is the benchmark of it. You only need Rs. 500 to start the investment. The asset size is Rs. 6465.21 Cr. and date is Sep 30, 2018.

      The return rates of this fund are as follows:

      Period Return
      6th month -1.30%
      1st year -6.00%
      3rd year 9.30%

      Axis Liquid Fund

      Under CRISIL Liquid Fund benchmark with a minimum investment of Rs. 500 you can start investing in this mutual fund. It is also an open-ended fund type launched on Oct 09, 2009. The asset size is Rs. 10259.68 Cr. and date is Sep 30, 2018.The first and third year of this mutual fund is also in the positive side. So, here have a look at the return rates:

      Period Return
      6th month 3.70%
      1st year 7.40%
      3rd year 7. 3%

       


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