Mutual Funds
Best Mutual funds to Invest in 2024
Are you still confused about Which is the best mutual fund to invest in 2024? Do you wanna know where to invest, and how much to invest in a Mutual fund? Then you are on the right page as we provide you with the best and the top-performing funds to invest in 2024. In this blog, you will come across all types of funds i.e. equity, hybrid, debt, and index funds.
This blog gonna provide you with a detailed study of which is the best mutual fund fund to invest in 2024 as well as a deep analysis by our mutual fund experts about each type of Mutual fund.
Best Mutual Funds to Invest In 2024 for SIP
A collection of carefully chosen mutual fund schemes known as "Best SIP Funds" has produced superior SIP returns than other funds in the same category. As a result, these Funds are the best mutual funds to invest in India, which provides greater long-term returns for their SIP participants by sticking to their investing philosophy through challenging economic periods and not being scared of brief price fluctuations in the stocks in their portfolios.
Video: https://www.youtube.com/embed/wG6CNig5KT8?si=dmd-3jUIeHyArMQt
1. Best Mutual Funds to Invest in 2024 - Equity Fund
Equity mutual funds help you to generate good returns over a long period. To know which fund is the best equity fund to invest in 2024 and get higher returns.
| S.No | Name | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| 1 | Quant Small Cap Fund Growth | 29.92% | 41.77% | 28.34% |
| 2 | Quant Infrastructure Fund Growth | 10.18% | 38.37% | 26.93% |
| 3 | Nippon India Small Cap Fund - Growth | 31.55% | 41.97% | 26.18% |
| 4 | HDFC Small Cap Fund Growth | 32.01% | 38.16% | 20.39% |
| 5 | Quant Tax Plan-Growth | 8.97% | 31.72% | 25.61% |
| Best SIP Plan for 1 Year | Best SIP Plan for 3 Year | Best SIP Plan for 5 Year |
2. Best Mutual Funds to Invest in 2024 - (Hybrid Fund)
Hybrid mutual funds, are the only mutual fund that allows you to invest diversfically across many funds. This fund provides you the ability to understand which fund is best suited for you and whose risk you will be able to tolerate. To know more, about which fund is best suited and where to invest, have a look at the list below and get your best mutual fund to invest in.
| S.No | Name | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| 1 | ICICI Prudential Equity & Debt Fund - Growth | 18% | 30% | 18% |
| 2 | Kotak Equity Hybrid Fund - Growth | 12% | 19% | 16% |
| 3 | Edelweiss Aggressive Hybrid Fund - Growth | 15% | 20% | 15% |
| 4 | SBI Arbitrage Opportunities Fund - Regular Plan-Growth | 7% | 5% | 5% |
| 5 | Invesco India Arbitrage Fund - Growth | 7% | 5% | 5% |
3. Best Mutual Funds to Invest in 2024 - (Debt Fund)
Debt mutual funds are the least volatile and generate a steady income. These funds provide a fixed income which helps you to grow at a fixed pace.
| S.No | Name | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| 1 | ICICI Prudential Banking & PSU Debt Fund - Growth | 7% | 5% | 7% |
| 2 | DSP Banking & PSU Debt Fund - Regular Plan-Growth | 6% | 4% | 7% |
| 3 | Nippon India Corporate Bond Fund - Growth | 7% | 5% | 7% |
| 4 | Invesco India Credit Risk Fund - Regular Plan-Growth | 11% | 5% | 4% |
| 5 | Aditya Birla Sun Life Credit Risk Fund - Regular Plan-Growth | 7% | 7% | 6% |
4. Best Mutual Funds to Invest in 2024 - (Index Fund)
Index mutual funds, these mutual funds invest in a particular index. The basic goal is to replicate their stock market index. To invest in a particular index and get better returns, you have a bunch of funds to understand and invest.
| S.No | Legal Name | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| 1 | UTI Nifty 50 Index Fund Regular Plan-Growth | 10.48 | 19.28 | 14.44 |
| 2 | Bandhan Nifty 50 Index Fund Growth | 10.12 | 18.85 | 14.3 |
| 3 | ICICI Prudential Nifty 50 Index Plan Regular Growth | 10.29 | 14.87 | 14.14 |
| 4 | HDFC Nifty 50 Index fund | 10.31% | 19.35% | 14.85 |
| 5 | Tata Nifty 50 Index Fund | 10.07% | 19.07% | 14.62 |
| Best Large Cap Fund | Best Midcap Fund |
| Best Multi-cap Fund | Best Small Cap Fund |
| Best ELSS Fund | Best Flexi cap fund |
Best Mutual Fund to Invest In Equity Mutual Funds (Details Review)
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1. Quant Small Cap Fund Growth
Quant small cap fund invests basically in small-cap stocks, which are stocks of companies with a market capitalization of less than ₹5000 crore.The Quant Small Cap Fund Growth has a strong track record of performance. Since its inception, the fund has delivered an annualized return of 40.10%. In 2023, the fund returned 52.44%. It is one of the best funds to invest in 2024 and gets the best returns of more than 28.34% per year.
- AMC - Quant Mutual Fund
- Category: Small Cap Mutual Fund
- Current NAV: ₹175.04
- Fund Size: ₹9,089.12 crore
- Expense Ratio: 0.77%
- Minimum investment amount: Rs 5,000
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 12.36% | 29.92% | 41.77% | 28.34% |
| Total Investment (1000/pm) | 3,24,000 | 12000 | 36000 | 60000 |
| Total Return | 32,36,912 | 13,929 | 54,748 | 1,05,786 |
Watch Here: Quant Small Cap Fund Review |
2. Quant Infrastructure Fund Growth
Quant Infrastructure fund growth invests basically in infrastructure stocks, which are stocks of companies that operate in the infrastructure sector. Quant Infrastructure Fund Growth has a good track record of performance, outperforming its benchmark index and category average over most periods.
- AMC - Quant Mutual Fund
- Current NAV: ₹25.06
- Fund Size: ₹980.29 crore
- Expense Ratio: 0.77%
- Minimum Investment: Rs 5,000.
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 6.16% | 10.18% | 38.37% | 26.93% |
| Total Investment (1000/pm) | 1,92,000 | 12000 | 36000 | 60000 |
| Total Return | 6,32,859 | 12840 | 49,342 | 1,24,068 |
3. Nippon India Small Cap Fund - Growth
Nippon India Small Cap Fund allows investors to invest in small-cap stocks, which are stocks of companies with a market capitalization of less than ₹5000 crore. Nippon India Small Cap Fund - Growth has a good track record of performance, outperforming its benchmark index and category average over most periods. This is the best fund to invest in equity mutual fund, for those who are willing to take on some risk to achieve higher returns over the long term.
- AMC: Nippon India Mutual Fund
- Current NAV: ₹119.80
- Fund Size: ₹37,374.40 crore
- Expense Ratio: 0.75%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 21.18% | 31.55% | 41.97% | 26.18% |
| Total Investment (1000/pm) | 1,56,000 | 12000 | 36000 | 60000 |
| Total Return | 8,79,324 | 14,348 | 55,922 | 1,33,163 |
Watch Here: Nippon India Small Cap fund Review |
4. Quant Tax Plan-Growth
Quant Tax Plan-Growth fund allows investors to invest in a well-diversified portfolio of equity shares with growth potential. It is an equity-linked savings scheme (ELSS), which means that investments in the fund are eligible for tax deduction under Section 80C of the Income Tax Act, of 1961. Quant Tax Plan-Growth has a good track record of performance, outperforming its benchmark index and category average over most periods.
- AMC - Quant Mutual Fund
- Current NAV: ₹265.46
- Fund Size: ₹4924.99 crore
- Expense Ratio: 1.85%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 15.05% | 31.55% | 31.72% | 25.61% |
| Total Investment (1000/pm) | 2,76,000 | 12,000 | 36,000 | 60000 |
| Total Return | 23,62,623 | 13,014 | 47,368 | 1,17,519 |
Best Mutual Fund to Invest In Debt Mutual Funds
1.ICICI Prudential Banking & PSU Debt Fund - Growth
ICICI Prudential Banking & PSU Debt Fund - Growth Fund allows you to invest in debt securities issued by banks and public sector undertakings (PSUs). It is a low-risk fund, which means that it is suitable for investors who are looking to preserve their capital and generate regular income.
- ICICI Prudential Mutual Fund
- Current NAV: ₹29.7219
- Fund Size: ₹8,301.76 crore
- Expense Ratio: 0.39%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 7.92% | 7% | 5% | 7% |
| Total Investment (1000/pm) | 1,56,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 2,60,052 | 12,462 | 39,341 | 70,308 |
2. DSP Banking & PSU Debt Fund - Regular Plan-Growth
DSP Banking & PSU Debt Fund - Regular Plan - Growth fund allows you to invest in debt securities issued by banks and public sector undertakings (PSUs). It is a low-risk fund, which means that it is suitable for investors who are looking to preserve their capital and generate regular income.
- Current NAV: ₹10.14
- Fund Size: ₹2561.94 crore
- Expense Ratio: 0.57%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 7.57% | 6% | 4% | 7% |
| Total Investment (1000/pm) | 1,20,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 1,69,256 | 12,374 | 38,676 | 69,037 |
3. Nippon India Corporate Bond Fund - Growth
Nippon India corporate bond fund allows investors to invest in corporate bonds, which are debt securities issued by companies. Corporate bonds are generally riskier than government bonds, but they also offer the potential for higher returns.
Nippon India Corporate Bond Fund - Growth has a good track record of performance, outperforming its benchmark index and category average over most periods.
- Current NAV: ₹51.99
- Fund Size: ₹2458.21 crore
- Expense Ratio: 0.67%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 7.39% | 7% | 5% | 7% |
| Total Investment (1000/pm) | 2,76,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 6,84,825 | 12,417 | 39,222 | 70,009 |
4. Invesco India Credit Risk Fund - Regular Plan-Growth
Invesco India Credit Risk Fund allows you to invest in credit risk-sensitive debt securities, which are debt securities that are more sensitive to changes in interest rates and credit quality. Invesco India Credit Risk Fund - Regular Plan - Growth has a moderate track record of performance. It has outperformed its benchmark index and category average over the 1-year and 3-year time periods, not only this is the best fund to invest in debt mutual fund but also has the tolerable risk.
- Current NAV: ₹1,668.70
- Fund Size: ₹6,104.23 crore
- Expense Ratio: 1.75%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 5.76% | 11% | 5% | 4% |
| Total Investment (1000/pm) | 1,08,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 1,43,419 | 12,860 | 40,855 | 72,035 |
5. Aditya Birla Sun Life Credit Risk Fund - Regular Plan-Growth
Aditya Birla Sun Life Credit Risk Fund allows you to invest in credit risk-sensitive debt securities, which are debt securities that are more sensitive to changes in interest rates and credit quality. It has the potential to generate higher returns.
Aditya Birla Sun Life Credit Risk Fund - Regular Plan - Growth has a good track record of performance, outperforming its benchmark index and category average over most periods.
- AMC: Aditya Birla Mutual Fund
- Current NAV: ₹18.10
- Fund Size: ₹1001.84 crore
- Expense Ratio: 1.57%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 7.21% | 7% | 7% | 6% |
| Total Investment (1000/pm) | 96,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 1,31,216 | 12,480 | 40,492 | 72,988 |
Best Mutual Fund to Invest In Hybrid Mutual Funds
1. ICICI Prudential Equity & Debt Fund - Growth
ICICI Prudential Equity & Debt Fund Growth fund invests predominantly in equity and debt securities, with a current allocation of 67.39% to equity and 25.98% to debt. It is an aggressive hybrid fund, which means that it is suitable for investors who are willing to take on more risk to achieve higher returns.
ICICI Prudential Equity & Debt Fund Growth has a good track record of performance, outperforming its benchmark index and category average over most periods.
- Current NAV: ₹277.21
- Fund Size: ₹26,324.58 crore
- Expense Ratio: 1.11%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 14.94% | 18% | 30% | 18% |
| Total Investment (1000/pm) | 2,88,000 | 13,295 | 48,222 | 1,00,220 |
| Total Return | 27,39,48 | 12,000 | 36,000 | 60,000 |
2. Kotak Equity Hybrid Fund - Growth
Kotak Equity Hybrid Fund Growth fund invests predominantly in equity and equity-related instruments, with a current allocation of 65% to equity and 35% to debt. The best mutual fund to invest if you are looking for a balanced approach to investing, with the potential for both growth and income.
- Current NAV: ₹45.80
- Fund Size: ₹4,266.69 crore
- Expense Ratio: 1.84%
- Exit load: Nil
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 14.21% | 12% | 19% | 16% |
| Total Investment (1000/pm) | 2,88,001 | 12,000 | 36,000 | 60,000 |
| Total Return | 20,31,988 | 12,816 | 43,214 | 88,558 |
3. Edelweiss Aggressive Hybrid Fund - Growth
Edelweiss Aggressive Hybrid Fund Growth fund allows you to invest in equity and equity-related instruments, with a current allocation of 65-80% to equity and 20-35% to debt. It is an aggressive hybrid fund, which means that it is suitable for investors who are willing to take on more risk to achieve higher returns.
- AMC: Edelweiss Mutual Fund
- Current NAV: ₹51.49
- Fund Size: ₹904.21 crore
- Expense Ratio: 0.57%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 11.44% | 15% | 20% | 15% |
| Total Investment (1000/pm) | 1,68,000 | 12000 | 36000 | 60000 |
| Total Return | 4,08,781 | 12,948 | 44,324 | 88,179 |
4. HDFC Hybrid Equity Fund - Regular Plan-Growth
HDFC Hybrid Equity Fund generates capital appreciation by investing in equity and debt instruments. The fund aims to invest 65%-80% in equity and equity related instruments and 20%-35% in debt instruments.
- AMC: HDFC Mutual Fund
- NAV: ₹92.407
- Expense Ratio: 1.710%
Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 15.42 | 10.18 | 9.34 | 13.83 |
| Total Investment (1000/pm) | 2,76,000 | 12000 | 36000 | 60000 |
| Total Return | 21,70,429 | 12,547 | 43,067 | 86,026 |
5. DSP Equity & Bond Fund Growth
DSP EQUITY & Bond Fund generates capital appreciation and income by investing in a mix of equity and debt instruments. This fund aims to invest 75%-90% in equity and equity related instruments and 10%-25% in debt instruments.
- AMC: DSP Mutual Fund
- NAV: ₹261.13
- Expense Ratio: 1.790%
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 6.52% | 7% | 5% | 7% |
| Total Investment (1000/pm) | 2,88,001 | 12,000 | 36,000 | 60,000 |
| Total Return | 22,63,503 | 12,969 | 42,076 | 83,286 |
Best Mutual Fund to Invest In Index Mutual Funds
1.) UTI Nifty 50 Index Fund
UTI Nifty 50 Index Fund Regular Plan Growth aims to track the performance of the Nifty 50 Index by investing at least 80% of its assets in the index constituents. This fund is passively managed, which means that it replicates the portfolio of its benchmark index.
- AMC: UTI Mutual Fund
- Net Asset Value (NAV): ₹129.44
- Expense Ratio: 0.41%
- Fund Size: ₹12596.83 crore
- Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 11.54% | 10.48% | 19.28% | 14.44% |
| Total Investment (1000/pm) | 2,76,001 | 12,000 | 36,000 | 60,000 |
| Total Return | 16,26,590 | 12,422 | 41,759 | 84,500 |
2.) Bandhan Nifty 50 Index Fund
Bandhan Nifty 50 Index Fund Growth fund aims to track the performance of the Nifty 50 Index by investing at least 80% of its assets in the index constituents. The fund is passively managed, which means that it replicates the portfolio of its benchmark index.
- Net Asset Value (NAV): ₹40.80
- Expense Ratio: 0.6%
- Fund Size: ₹929.37 crore
- Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 11.17% | 10.12% | 18.85% | 14.3% |
| Total Investment (1000/pm) | 1,20,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 2,30,950 | 12,435 | 41,885 | 84,982 |
3.) ICICI Prudential Nifty 50 Index Plan
ICICI Prudential Nifty 50 Index Plan Regular Growth fund aims to track the performance of the Nifty 50 Index by investing at least 80% of its assets in the index constituents.
The fund is passively managed, which means that it replicates the portfolio of its benchmark index.
- Net Asset Value (NAV): ₹191.08
- Expense Ratio: 0.43%
- Fund Size: ₹4930.06 crore
- Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 14.66% | 10.29% | 14.87% | 14.14% |
| Total Investment (1000/pm) | 2,52,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 11,98,570 | 12,414 | 41,659 | 84,014 |
4.) HDFC Nifty 50 Index fund
HDFC Nifty 50 Index fund aims to track the performance of the Nifty 50 Index by investing at least 80% of its assets in the index constituents.
The fund is passively managed, which means that it replicates the portfolio of its benchmark index.
- Net Asset Value (NAV): ₹179.81
- Expense Ratio: 0.2% (direct plan), 0.35% (regular plan)
- Fund Size: ₹9,828.80 crore
- Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 14.33% | 10.31% | 19.35% | 14.85% |
| Total Investment (1000/pm) | 2,52,000 | 12,001 | 36,000 | 60,000 |
| Total Return | 10,72,895 | 12,415 | 41,674 | 84,092 |
5.) Tata Nifty 50 Index Fund
Tata Nifty 50 Index Fund aims to track the performance of the Nifty 50 Index by investing at least 80% of its assets in the index constituents. The fund is passively managed, which means that it replicates the portfolio of its benchmark index.
- Net Asset Value (NAV): ₹126.96
- Expense Ratio: 0.2% (direct plan), 0.35% (regular plan)
- Fund Size: ₹495.45 crore
- Returns:
| Year | Since inception | 1 Year | 3 Years | 5 Years |
|---|---|---|---|---|
| Returns(%) | 12.62% | 10.07% | 19.07% | 14.62% |
| Total Investment (1000/pm) | 1,20,000 | 12,000 | 36,000 | 60,000 |
| Total Return | 2,28,521 | 12,424 | 41,812 | 84,564 |
What are the Different Ways to Invest in Mutual Funds?
Mutual fund investments can be made offline or online. However, the online technique is now among the simplest ways to invest in mutual funds because of growing digitalization and convenience.
Some of the finest ways to invest in mutual funds are as follows:
#1. Financial Investment AppsYou may utilize one of the many investment applications on the Indian market to invest in the mutual funds of your choosing.
You may invest in direct mutual funds with no fees using Best Mutual fund Apps like Zfunds. One of Zfund's biggest features is that you can start SIPs with a minimum cost of Rs.100 and you can invest it daily on a regular basis.
#2. Website of Asset Management Company (AMC)You must go to AMC's website to begin investing in mutual funds through them, but there are a few easy steps you can take.
You must submit your KYC (know your customer) paperwork online, and when it has been verified, you may start investing in mutual funds. By investing directly with AMC, you can avoid paying extra costs like distributor commissions. This will lower your overall costs and, over time, may produce greater returns than conventional plans.
#3. Registrar at AMCOrganizations known as mutual fund registrars monitor all actions taken by AMC investors. Investors can request personalized statements from them that include the history of transactions and the current value of their assets.
In India, CAMS is the primary registrar transfer agent. Both have websites and mobile apps that provide the necessary information to investors and mutual fund firms. They also let investors invest in mutual funds in addition to this.
You must open an account with registrars and comply with KYC requirements in order to invest in mutual funds through them. After that, you may begin investing in the mutual funds they are offering. You can only invest in the funds of the several AMCs that are registered under CAMS.
#4. Separate portalsYou may invest in mutual funds via online platforms like Zfunds. While some provide direct plans, others offer regular plans. But you may instantly, without any paperwork, invest in mutual funds using any independent portal by just clicking on it.
These platforms provide distinctive products, such as goal-based investing, which enables you to make investments in accordance with your financial objectives. In addition, they provide other services, including portfolio scanning, monitoring, and rebalancing.
Because you may suspend, cancel, and step up SIPs with the push of a button whenever you want, investing through these portals is incredibly convenient. You can keep track of every best mutual fund investment you make in one location..