Top 10 Mutual Funds To Invest In 2024

Last Updated on September 18, 2024 by Wenivesh Team

Here we will be writing about “Top 10 Mutual Funds To Invest In 2024” and making some good and safe returns to fulfill your dreams.

In the ever-evolving landscape of financial markets, finding the right investment avenues is crucial for individuals looking to grow their wealth. Mutual funds, with their diversified portfolios managed by seasoned professionals, remain a popular choice for investors seeking a balanced and effective investment strategy. As we step into the promising year of 2024, it’s essential to identify the mutual funds that hold the potential for robust returns.

Top 10 Mutual Funds To Invest In 2024 Overview

Here is the brief table explaining the list of Top 10 Mutual Funds To Invest In 2024:

Top 10 Mutual Funds To Invest In 2024

In this blog, we will delve into the top 10 mutual funds to invest in 2024 poised to make waves in the coming year, offering insights into their performance, management styles, and the factors that make them stand out in the dynamic investment arena.

Here is the list of Top 10 Mutual Funds To Invest In 2024:

SBI Mutual Fund

This fund focuses on large-cap stocks, emphasizing robust companies in India for long-term growth, effectively managing risks. SBI Mutual Fund, or SBI Funds Management Private Limited, is a big and well-established company in India that handles mutual funds.

It started on June 29, 1987, and is a partnership between the State Bank of India (which is the biggest public sector bank in India) and Amundi (a European company that manages assets). As of March 2023, SBI Mutual Fund oversees assets valued at Rs. 7.22 lakh crores, showing it’s a major player in India’s mutual fund world.

Quant Small Cap Fund

Investing in small-cap stocks, this fund offers potential long-term returns with a diversified portfolio and minimal stock-specific risks. The Quant Small Cap Fund is a type of mutual fund provided by Quant Mutual Fund. It’s a fund that mainly invests in small companies.

By the end of 2023, the fund was managing around ₹13,002 crores. This fund is considered to be quite risky, as shown by its riskometer rating. Since it started, it has given a return of 17.17%.

Motilal Oswal Midcap Fund

Specializing in mid-cap companies ranked 101 to 250 on the Indian Stock Exchange, it holds a five-star rating from Value Research. The Motilal Oswal Midcap Fund is a kind of mutual fund provided by Motilal Oswal Asset Management Company (AMC).

This fund mainly puts money into mid-sized companies. As of January 24, 2024, the fund was taking care of around ₹7,411 crores. It’s important to know that this fund is considered quite risky, as shown by its riskometer rating. Since it started, it has given a return of 23.85%.

Nippon India Large Cap Fund

With a focus on large-cap stocks, this fund boasts a five-star rating from Value Research, despite having an expense ratio of 83. The Nippon India Large Cap Fund is a type of mutual fund provided by Nippon India Mutual Fund. This fund mainly invests in big companies.

As of January 24, 2024, the fund was taking care of around ₹20,218 crores. It’s important to note that this fund is considered quite risky, as shown by its riskometer rating. Since it started, it has given a return of 33.9%.

Nippon India Small Cap Fund

This fund concentrates on small-cap stocks and holds a five-star rating from Value Research. The Nippon India Small Cap Fund is a type of investment where the main goal is to grow the money you put in over a long time. It focuses on smaller companies.

As of January 24, 2024, the latest value of the fund was ₹154.85 for each unit. The fund is taking care of around ₹43,816 crores as of December 31, 2023, which makes it a medium-sized fund in its group. Since it started, the fund has given an average yearly return of 26.97%.

Motilal Oswal Nasdaq 100 FOF Scheme

An index fund tracking the Nasdaq 100 index, suitable for long-term equity investors with a return since inception of 21.48% p.a. The Motilal Oswal Nasdaq 100 FOF Scheme is a type of mutual fund provided by Motilal Oswal Mutual Fund. This fund invests in units of Motilal Oswal Nasdaq 100 ETF.

Essentially, it aims to grow your money by investing in the 100 biggest non-financial companies listed on the Nasdaq Stock Market. As of January 18, 2024, each unit’s value was ₹28.97. The total money it’s managing is about ₹4,438 crores as of December 31, 2023. It’s important to note that this scheme is considered quite risky, as shown by its riskometer rating.

Bandhan Nifty 50 Index Fund

An index fund mirroring the Nifty 50 index, catering to investors seeking passive investment options. The Bandhan Nifty 50 Index Fund is a type of mutual fund offered by Bandhan Mutual Fund. This fund is what we call an index fund, meaning it invests in the same companies as the Nifty 50 index, which includes the top 50 companies in India with the largest market value.

As of January 24, 2024, each unit’s value was ₹46.77. The total money it’s managing is about ₹1,100.65 crores as of December 31, 2023. It’s important to know that this fund is considered quite risky, as indicated by its riskometer rating. Since it began, the fund has given an average yearly return of 15.8%.

UTI Nifty 50 Index Fund

Another index fund tracking the Nifty 50 index, providing an alternative for passive investors. The UTI Nifty 50 Index Fund is a type of mutual fund offered by UTI Mutual Fund. It’s what we call an index fund, meaning it invests in the same companies as the Nifty 50 index. This index includes India’s top 50 companies with the largest market value.

As of January 24, 2024, each unit’s value was ₹147.03. The total money it’s managing is about ₹15,002.04 crores as of December 31, 2023. It’s important to note that this fund is considered quite risky, as indicated by its riskometer rating. Since it started, the fund has given an average yearly return of 15.7%.

ICICI Prudential Nifty 50 Index Fund

A third option for passive investment, tracking the Nifty 50 index. The ICICI Prudential Nifty 50 Index Fund is a kind of mutual fund provided by ICICI Prudential Mutual Fund. Its main goal is to match the performance of the Nifty 50 Index by investing in the same stocks.

As of January 24, 2024, each unit’s value was ₹221.28. The total money it’s managing is about ₹5,732.85 crores. In the past year, it has given an average yearly return of 21.6%. This fund is recognized for being consistent in generating returns, with an ET Money Rank of 73 and a consistency rating of 4.0.

ICICI Prudential Focused Bluechip Equity Fund

Focused on large-cap stocks, this fund boasts a commendable track record. The ICICI Prudential Focused Bluechip Equity Fund is a type of mutual fund provided by ICICI Prudential Mutual Fund. This fund mainly invests in big companies. As of January 24, 2024, each unit’s value was ₹97.73. The total money it’s managing is about ₹6,44,724 crores.

In the past year, it has given an average yearly return of 29.6%, in the last three years, 20.4%, and in the last five years, 18.3%. This fund is known for being consistent in generating returns, with an ET Money Rank of #38 out of 146 and a consistency rating of 4.0.

Aditya Birla Sun Life Small & Midcap Fund

Investing in small and mid-cap stocks, this fund has demonstrated a strong track record. The Aditya Birla Sun Life Small & Midcap Fund is a type of investment fund that mainly puts money into smaller and mid-sized companies. The goal of the fund is to steadily grow the invested money over the long term by primarily investing in the stocks of these smaller and mid-sized companies.

As of January 24, 2024, each unit’s value was ₹73.69. The total money it’s managing is about ₹4,631.31 crores. In the past year, it has given an average yearly return of 24.5%, in the last three years, 29.5%, and in the last five years, 16.9%.

Tata Equity PE Fund

Concentrating on large-cap stocks, this fund has a commendable track record. The Tata Equity PE Fund is a type of investment offered by Tata Mutual Fund. This fund puts 70% of its money into companies whose price-to-earnings (P/E) ratio is lower than the Nifty 50 Index over the past twelve months.

As of December 13, 2023, each unit’s value was ₹310.02. The total money it’s managing is about ₹6,476.68 crores. In the past year, it has given an average yearly return of 29.5%, in the last three years, 23.7%, and in the last five years, 18.2%. It’s important to know that this fund is considered quite risky, as shown by its riskometer rating.

HDFC Monthly Income Plan

Balancing equity and debt instruments, this fund provides a mix of growth and stability for investors. The HDFC Monthly Income Plan is a type of investment managed by HDFC Mutual Fund. It’s designed to give you monthly income and is considered a conservative option.

Around 25% of the money is invested in company shares, and the rest is put in safe things like debt and money market instruments. It’s known for having a moderate level of risk, with an expense ratio of 1.21% as of January 31, 2022. As of May 02, 2022, each unit’s value was around INR 14.1944. Since it started, it has given an average yearly growth of 7.73%.

Also Read: Top 10 Best Life Insurance Policies For Families In India (2024)

Conclusion

As we navigate the complexities of the financial market in 2024, the right mutual fund investment can pave the way for financial success and security. The top 10 mutual funds to invest in 2024 highlighted in this blog are not just numbers on a chart but represent carefully analyzed opportunities for investors to consider.

Stay tuned for more updates on market trends and investment insights as we embark on this exciting journey together.

Hope our blog on the “Top 10 Mutual Funds To Invest In 2024” was helpful to you !!