Top 5 SIP Mutual Funds in India for 2024
Investing in mutual funds through a Systematic Investment Plan (SIP) is a popular and effective strategy for long-term wealth creation. SIPs allow investors to contribute a fixed amount regularly, which is then invested in a mutual fund scheme. This disciplined approach helps in averaging out market fluctuations and potentially earning higher returns. Here are the top 5 SIP mutual funds in India for 2024, carefully selected based on their performance, stability, and growth potential.
1. Axis Bluechip Fund
Category: Large Cap
Objective: To provide long-term capital appreciation by investing predominantly in equity and equity-related instruments of large-cap companies.
Performance: Axis Bluechip Fund has consistently delivered strong returns over the past several years. It focuses on investing in blue-chip stocks with a solid track record, which helps in mitigating risk and ensuring steady growth.
Expense Ratio: 0.53%
Minimum SIP Amount: ₹500
5-Year Returns: 15.8% CAGR
| Fund Name | Category | 5-Year Returns | Expense Ratio | Minimum SIP Amount |
|---|---|---|---|---|
| Axis Bluechip Fund | Large Cap | 15.8% CAGR | 0.53% | ₹500 |
2. Mirae Asset Emerging Bluechip Fund
Category: Large & Mid Cap
Objective: To achieve long-term capital appreciation by investing in a diversified portfolio of equity and equity-related instruments of large and mid-sized companies.
Performance: This fund has shown impressive performance by balancing investments between large-cap and mid-cap stocks, providing both stability and growth potential.
Expense Ratio: 0.67%
Minimum SIP Amount: ₹500
5-Year Returns: 18.4% CAGR
| Fund Name | Category | 5-Year Returns | Expense Ratio | Minimum SIP Amount |
|---|---|---|---|---|
| Mirae Asset Emerging Bluechip Fund | Large & Mid Cap | 18.4% CAGR | 0.67% | ₹500 |
3. HDFC Top 100 Fund
Category: Large Cap
Objective: To provide long-term capital appreciation by investing in a diversified portfolio of large-cap stocks.
Performance: Known for its robust performance, the HDFC Top 100 Fund focuses on high-quality large-cap stocks, making it a reliable choice for steady growth.
Expense Ratio: 1.05%
Minimum SIP Amount: ₹500
5-Year Returns: 14.2% CAGR
| Fund Name | Category | 5-Year Returns | Expense Ratio | Minimum SIP Amount |
|---|---|---|---|---|
| HDFC Top 100 Fund | Large Cap | 14.2% CAGR | 1.05% | ₹500 |
4. UTI Nifty Index Fund
Category: Index Fund
Objective: To provide returns that closely correspond to the total return of the Nifty 50 Index.
Performance: As an index fund, it aims to replicate the performance of the Nifty 50 Index, offering a low-cost way to invest in the top 50 companies listed on NSE.
Expense Ratio: 0.20%
Minimum SIP Amount: ₹500
5-Year Returns: 12.7% CAGR
| Fund Name | Category | 5-Year Returns | Expense Ratio | Minimum SIP Amount |
|---|---|---|---|---|
| UTI Nifty Index Fund | Index Fund | 12.7% CAGR | 0.20% | ₹500 |
5. Kotak Standard Multicap Fund
Category: Multicap
Objective: To achieve long-term capital appreciation by investing across various market capitalizations including large, mid, and small caps.
Performance: This fund offers a diversified approach by investing in companies of various sizes, providing both growth potential and risk diversification.
Expense Ratio: 1.01%
Minimum SIP Amount: ₹500
5-Year Returns: 16.0% CAGR
| Fund Name | Category | 5-Year Returns | Expense Ratio | Minimum SIP Amount |
|---|---|---|---|---|
| Kotak Standard Multicap Fund | Multicap | 16.0% CAGR | 1.01% | ₹500 |
Disclaimer
Mutual funds are subject to market risks. Past performance is not indicative of future results. Investors should carefully read the offer document and consult with a financial advisor before making any investment decisions. The information provided in this blog is for educational purposes only and does not constitute financial advice.
Conclusion
Investing in SIP mutual funds is a strategic way to build wealth over time, offering benefits such as rupee cost averaging and disciplined savings. The above-listed funds have been selected based on their performance, stability, and growth potential for 2024. However, it is important to assess your own financial goals, risk tolerance, and investment horizon before choosing the right mutual fund for your SIP.
Feel free to reach out if you need more information or have any questions about investing in mutual funds.
