Best Mutual Funds To Invest In 2024: Mutual funds are a popular way to invest in the fast-paced world of finance, providing a wide range of stocks, bonds, and other securities. These funds are professionally managed, giving investors the expertise and resources they need to effectively handle the market’s complexity. As 2024 comes closer, achieving financial goals and potential returns require a solid understanding of the investing market and mutual fund choices.
It is always preferable to go with established mutual funds that have a proven record of steady growth and return. In this article, we will discuss some of them. So please stay with this article until the end.
Factors to Consider When Choosing the Best Mutual Funds To Invest In 2024
It’s important to take consideration a number of factors that affect investment choices before getting into specific mutual fund recommendations. These components consist of:
- Investment Goal: Clearly state your goals for your investments, including income generation, long-term growth, and wealth accumulation.
- Risk Tolerance: Evaluate your capability to deal with fluctuations in the market by taking assessment of your risk tolerance.
- Investment Horizon: Create your investment perspective, or the amount of time you plan to hold into your investments.
- Financial status: Evaluate your income, expenses, and current investments in relation to your current financial status.
Top Mutual Funds to Consider for 2024
Taking into consideration risk profiles, past performance, and professional opinions, the following are some of the top mutual funds to think about for 2024:
Large-Cap Mutual Funds:
SBI Bluechip Fund
The equity-oriented SBI Bluechip Fund from SBI Mutual Fund has regularly given investors outstanding returns. The fund launched on February 14, 2006, and as of October 31, 2023, it has an excellent AUM of Rs 38,598 crore. The fund has outperformed several of the similar funds in the large-cap category, with an outstanding return of 14.16% over the last five years.
Key Highlights:
- Equity-oriented scheme offered by SBI Mutual Fund
- Launched on February 14, 2006
- AUM of Rs38,598 crore as of October 31, 2023
- 5-year return of 14.16%
- Invests in a diversified portfolio of large-cap companies
- Exit load of 1% if redeemed within 1 year
ICICI Prudential Bluechip Fund
The ICICI Prudential Bluechip Fund is a well-known large-cap equity mutual fund that places a high value on investing in solid companies with a track record of consistent growth and stability. The fund carefully creates a portfolio of blue-chip firms with the goal of providing long-term capital appreciation to its clients, under the leadership of a team of expert investment professionals.
Key Highlights:
- Equity-oriented scheme offered by ICICI Prudential Mutual Fund
- Launched on May 23, 2008
- AUM of Rs 41,269 crore as of October 31, 2023
- 5-year return of 14.72%
- Invests in a diversified portfolio of large-cap companies
- Exit load of 1% if redeemed within 1 year
Mid Cap Mutual Funds:
HDFC Mid-Cap Opportunities Fund
An open-ended equity fund called the HDFC Mid-Cap Opportunities Fund makes investments in mid-cap companies with a minimum 65% exposure to mid-cap firms. The fund invests in a range of mid-cap companies with significant growth potential in an attempt to create long-term financial appreciation.
Key Highlights:
- Equity-oriented scheme offered by HDFC Mutual Fund
- Launched on Jun 25, 2007
- AUM of Rs 47,846 crore as of October 31, 2023
- 5-year return of 22.12%
- Invests in a diversified portfolio of Mid-cap companies
- Exit load of 1% if redeemed within 1 year
SBI Magnum Midcap Fund
An open-ended equity fund called SBI Magnum Midcap Fund has a minimum 41.21% exposure to mid-cap equities and mostly invests in mid-cap companies. The fund invests in a well-diversified basket of midcap equity companies with the goal of creating long-term capital growth.
Key Highlights:
- Equity-oriented scheme offered by SBI Mutual Fund
- Launched on January 1, 2013
- AUM of Rs 13,202 crore as of October 31, 2023
- 5-year return of 22.11%
- Invests in a diversified portfolio of Mid-cap and Small Cap companies
- Exit load of 1% if redeemed within 1 year
Small-Cap Mutual Funds:
Nippon India Small Cap Fund
Nippon India Small Cap Fund is an open-ended equity scheme that invests predominantly in small-cap stocks, with a minimum exposure of 57.49% to small-cap stocks.The fund invests in a wide range of small-cap equity companies with the goal of creating long-term financial appreciation.
Key Highlights:
- Equity-oriented scheme offered by Nippon India Mutual Fund
- Launched on September 16, 2010
- AUM of Rs 37,319 crore as of October 31, 2023
- 5-year return of 26.86%
- Invests in a diversified portfolio of Small Cap companies
- Exit load of 1% if redeemed within 1 year
SBI Small Cap Fund
The SBI Small Cap Fund is an open-ended equity scheme that has a minimum exposure of 44.44% to small-cap equities and mainly invests in small-cap companies. The fund invests in a wide range of small-cap equity firms with the goal of generating long-term financial growth.
Key Highlights:
- Equity-oriented scheme offered by SBI Mutual Fund
- Launched on September 9, 2009
- AUM of Rs 21,140 crore as of October 31, 2023
- 5-year return of 23.52%
- Invests in a diversified portfolio of small-cap companies
- Exit load of 1% if redeemed within 1 year
Which Mutual Fund Is Best For Lumpsum Investment 2023-2024
Conclusion
The best mutual funds to invest in 2024 will depend on the risk tolerance and investor profiles of each individual. It’s critical to carry out in-depth research, take expert advice into consideration, and match investment decisions to individual financial objectives. Remember that market moves can affect mutual funds, and previous performance is not always an accurate indicator of future results. When making investing decisions, you should always proceed with caution and consult financial professionals for advice.
Note: These funds are not a buy recommendation. Seeking to maximise your wealth-building plan and explore the potential benefits of lumpsum investments? Consult with a knowledgeable financial advisor right away. Their knowledge and tailored advice can provide you with the trust to go after your financial objectives and make wise decisions.
Disclaimer: Mutual fund investments are subject to market risks; read all scheme-related documents carefully.
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