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Top 10 Best Mutual Funds for SIP to invest in 2024

Posted By: Admin
February 3, 2024 |

Top Performing Low Risk Mutual Funds to Invest in 2024

Best Mutual Funds for SIP: Investing in mutual funds through Systematic Investment Plans (SIPs) has gained popularity as a disciplined and convenient way to build wealth over the long term. As we step into 2024, navigating the mutual fund landscape requires careful consideration of various factors including fund performance, investment objectives, risk appetite, and market conditions. In this blog, we’ll explore the top 10 mutual funds for SIP investment in 2024, considering their track record, consistency, and potential for growth.

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1. Axis Bluechip Fund | List of Best Mutual Funds for SIP

Category: Large Cap Equity
Objective: To achieve long-term capital appreciation by investing in a diversified portfolio of predominantly equity and equity-related instruments of blue-chip companies.
Fund Manager: Chandresh Nigam
Notable Features: Consistent performance, focus on quality large-cap stocks.
NAV : ₹58.44

Why to invest in Axis Bluechip Fund?

This fund primarily invests in large-cap stocks, focusing on well-established companies with strong fundamentals.
It offers stability and growth potential, making it suitable for conservative investors seeking exposure to blue-chip stocks.
This fund is one of the best in protecting against volatility in it’s category.
This fund has the highest AUM growth in the last 12 months in Large Cap category.
his fund has generated highest return amongst Large Cap funds in the last 10 Years.

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2. Mirae Asset Large & Midcap Fund | List of Best Mutual Funds for SIP

Category: Mid Cap Equity
Objective: To generate income and capital appreciation from a diversified portfolio predominantly investing in equity and equity-related instruments of mid-cap companies.
Fund Manager: Neelesh Surana
Notable Features: Strong performance history, focus on quality mid-cap stocks with growth potential.
NAV : ₹141.84

Why to invest in Mirae Asset Emerging Bluechip Fund?

With a focus on mid-cap stocks, this fund aims to capture the growth potential of emerging companies in the market.
It provides investors with the opportunity to participate in the growth trajectory of mid-sized companies while diversifying their portfolio.
This fund has generated highest return amongst Large & MidCap funds in the last 10 Years. For every unit of risk this fund takes, it produces 20% more returns.
This fund has the highest AUM growth in the last 12 months in Large & MidCap category.

3. SBI Small Cap Fund | List of Best Mutual Funds for SIP

Category: Small Cap Equity
Objective: To provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme by investing predominantly in a well-diversified basket of equity stocks of small-cap companies.
Fund Manager: R. Srinivasan
Notable Features: Exposure to small-cap segment, potential for high growth, suitable for investors with higher risk tolerance.
NAV: ₹166.82

Why to invest in SBI Small Cap Fund?

Investing in small-cap stocks, this fund targets companies with the potential for high growth.
While small-cap stocks can be volatile, they also offer the possibility of substantial returns over the long term, making this fund suitable for investors with a higher risk appetite.
his fund is one of the best in protecting against volatility in it’s category.
This fund has generated highest return amongst Small Cap funds in the last 10 Years.

4. ICICI Prudential Equity & Debt Fund – Growth

Category: Hybrid Equity
Objective: To dynamically manage the asset allocation between equity and fixed income instruments with the aim to generate optimal risk-adjusted returns.
Fund Manager: S. Naren, Manish Banthia
Notable Features: Offers dynamic asset allocation, reduces downside risk through hedging strategies.
NAV : ₹ 323.4

Why to invest in ICICI Prudential Balanced Advantage Fund?

This hybrid fund dynamically adjusts its asset allocation between equities and fixed income instruments based on market conditions.
It aims to protect capital during market downturns while capturing opportunities for capital appreciation during market upswings.
Aggressive Hybrid Fund : The fund has 71.65% investment in domestic equities of which 53.74% is in Large Cap stocks, 8.07% is in Mid Cap stocks, 1.72% in Small Cap stocks. The fund has 17.92% investment in Debt, of which 11.11% in Government securities, 5.59% is in Low Risk securities.

5. HDFC Mid-Cap Opportunities Fund – Growth:

Category: Mid Cap Equity
Objective: To provide long-term capital appreciation/income by investing predominantly in equity and equity-related instruments of mid-cap companies.
Fund Manager: Chirag Setalvad
Notable Features: Focus on mid-cap segment, potential for growth, disciplined investment approach.
NAV : ₹ 155.599

Why to invest in HDFC Mid-Cap Opportunities Fund?

Focusing on mid-cap stocks, this fund seeks to capitalize on the growth potential of companies beyond large-caps.
Mid-cap stocks are known for their agility and growth prospects, making this fund suitable for investors with a moderate risk appetite.
The fund has 93.21% investment in domestic equities of which 5.57% is in Large Cap stocks, 52.58% is in Mid Cap stocks, 18.09% in Small Cap stocks.

6. Quant Small Cap Fund Growth Option Direct Plan

Category: Equity
Objective: To generate long-term capital appreciation by investing predominantly in equity and equity-related instruments.
Fund Manager: Sanjeev Sharma, Ankit A. Pande.
Notable Features: Quant Small Cap Fund Growth Option Direct Plan has ₹13002 Cr worth of assets under management (AUM) as on Dec 2023 and is more than category average.
NAV: ₹ 255.2

Why to invest in Quant Small Cap Fund Growth Option Direct Plan?

This fund expense ratio is slightly on the lower side within the category (small-cap). Its expense ratio is 0.77% which is lower than the category average expense ratio of 1.18%.
Over the last 6 months, this fund has increased expense ratio by 24.2% moving from 0.62 to 0.77.
In the last 3 years, this fund has outperformed all funds in its category.
Over the last 3 months, this fund has experienced a 43.0% growth in AUM moving from 9.08K Cr to 13.00K Cr.
In the last 5 years, this fund has outperformed all funds in its category.
Generated Consistent Returns.
Consistently beats benchmark.
Outperformed benchmarks during bull run.

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7. Kotak Standard Multicap Fund | List of Best Mutual Funds for SIP

Category: Multicap Equity
Objective: To generate long-term capital appreciation from a diversified portfolio of equity and equity-related securities across various market capitalizations.
Fund Manager: Harsha Upadhyaya
Notable Features: Flexible investment approach, exposure to diverse sectors and market caps.

Why to invest in Kotak Standard Multicap Fund?

With a multicap approach, this fund invests across large, mid, and small-cap stocks, providing diversification across market segments.
The fund manager has the flexibility to capitalize on opportunities across different market caps and sectors based on market conditions.

8. DSP Equity Opportunities Fund:

Category: Large & Mid Cap Equity
Objective: To seek to generate capital appreciation, by investing in equity and equity-related securities using a combination of contrarian and growth investment styles.
Fund Manager: Atul Bhole
Notable Features: Blend of large and mid-cap exposure, focus on quality stocks.
NAV: ₹93.29

Why to invest in DSP Equity Opportunities Fund?

This fund follows a blend of contrarian and growth investment styles, aiming to identify undervalued stocks with the potential for long-term growth.
It offers exposure to both large and mid-cap segments, providing diversification benefits.
This fund has generated highest return amongst Flexi Cap funds in the last 10 Years.
This fund has the highest AUM growth in the last 12 months in Flexi Cap category.

9. HSBC Small Cap Fund Fund Direct Growth:

Category: Equity- Small-Cap
Objective: To generate income and capital appreciation through investments in a diversified portfolio.
Fund Manager: Venugopal Manghat, Vihang Naik.
Notable Features: HSBC Small Cap Fund Fund Direct Growth has ₹13231 Cr worth of assets under management (AUM) as on Dec 2023 and is more than category average.
NAV: ₹ 79.1

Why to invest in HSBC Small Cap Fund Fund Direct Growth?

Investing in low-duration debt instruments, this fund aims to provide stable returns with lower interest rate risk.
It is suitable for investors seeking income generation and stability in their portfolio.
This fund has one of the lowest expense ratio in the category (small-cap). Its expense ratio is 0.69% which is lower than the category average expense ratio of 1.18%.
Over the last 1 year, this fund has decreased expense ratio by 10.4% moving from 0.77 to 0.69.
In the last 5 years, Quant Small Cap Fund Growth Option Direct Plan has given 38.49% return, outperforming this fund by 12.03% per annum.
In the last 3 years, Quant Small Cap Fund Growth Option Direct Plan has given 50.13% return, outperforming this fund by 10.12% per annum.
In the last 1 year, Bandhan Small Cap Fund Direct Growth has given 74.29% return, outperforming this fund by 20.92%.
Over the last 6 months, this fund has experienced a 30.6% growth in AUM moving from 10.12K Cr to 13.23K Cr.

10. Bandhan Small Cap Fund Direct Growth:

Category: Small Cap Equity
Objective: To generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities of small-cap companies.
Fund Manager: Manish Gunwani
Notable Features: Focus on emerging businesses, potential for high growth.
Bandhan Small Cap Fund Direct Growth has ₹3880 Cr worth of assets under management (AUM) as on Dec 2023 and is less than category average.

Why to invest in Bandhan Small Cap Fund Direct Growth?

Focused on emerging businesses in the small-cap segment, this fund targets companies with high growth potential.
It offers investors exposure to the growth trajectory of small-cap companies, albeit with higher volatility.
This fund’s returns stands at 7.89% whereas the fund’s underlying benchmark Nifty Smallcap 250 returns stands at 5.36% as on Dec’23.

Conclusion:

Investing in mutual funds through SIPs offers investors an opportunity to build wealth systematically over time while mitigating market volatility. However, it’s essential to choose funds that align with your investment objectives, risk tolerance, and time horizon. The list of top 10 mutual funds for SIP investment in 2024 provides a starting point for investors to research and select funds that suit their financial goals and preferences. As with any investment decision, consulting with a financial advisor is advisable to make informed choices and optimize your investment portfolio for long-term success.

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