Top 10 Mutual Funds to Invest in India 2024

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 Investing in mutual funds remains one of the most popular strategies for growing wealth, offering diversification and professional management. If you're looking for the top 10 mutual funds to invest in 2024, this guide will help you navigate the best options available. Whether you Seek long-term growth, a systematic investment plan (SIP), or mutual funds tailored to specific investment goals, there's a fund for every investor.

Top 10 Mutual Funds to Invest in India 2024 

India’s mutual fund market has shown impressive growth, making it an excellent option for investing in top-performing funds. In 2024, these funds have stood out based on returns, risk management, and fund management expertise. Let's dive into the top 10 mutual funds to invest in 2024:

Rank	Mutual Fund	5-Year Avg. Return	Risk (Beta)
1	HDFC Mid-Cap Opportunities Fund	18.60%	1.15
2	Kotak Flexicap Fund	17.00%	1.00
3	Axis Bluechip Fund	14.21%	0.95
4	DSP Tax Saver Fund	13.40%	1.05
5	ICICI Prudential Equity & Debt Fund	12.80%	0.80
6	Aditya Birla Sun Life Frontline Equity Fund	13.00%	0.92
7	Mirae Asset Emerging Bluechip Fund	22.80%	1.10
8	SBI Small Cap Fund	25.30%	1.20
9	Nippon India Small Cap Fund	27.50%	1.25
10	SBI Equity Hybrid Fund	11.70%	0.85

1. HDFC Mid-Cap Opportunities Fund: With a solid 18.60% return and moderate volatility (Beta of 1.15), this fund strikes a perfect balance between growth and stability, making it an ideal choice for investors looking for consistent performance in the mid-cap segment.
2. Kotak Flexicap Fund: Offering a 17.00% return with a Beta of 1.00, this fund’s flexible investment strategy adapts to market conditions, providing a balanced approach that minimizes risk while capturing growth opportunities.
3. Axis Bluechip Fund: Despite a slightly lower return of 14.21%, its low Beta of 0.95 makes it a safe harbor for conservative investors seeking stability in large-cap stocks, It ensures solid performance with less market volatility.
4. DSP Tax Saver Fund: With a 13.40% return and a Beta of 1.05, this ELSS fund is perfect for tax-saving while still providing moderate growth, making it an attractive option for those looking to reduce their tax liabilities while investing.
5. ICICI Prudential Equity & Debt Fund: Combining a return of 12.80% with the lowest Beta of 0.80, this balanced fund offers a mix of equity and debt, providing a more stable growth trajectory, ideal for cautious investors.
6. Aditya Birla Sun Life Frontline Equity Fund: With a return of 13.00% and a Beta of 0.92, it offers reliability and solid performance in the large-cap space, making it a great choice for long-term investors looking for steadiness.
7. Mirae Asset Emerging Bluechip Fund: Boasting an impressive return of 22.80% and a Beta of 1.10, this fund appeals to investors willing to embrace moderate risk for higher growth, positioning itself well in the large and mid-cap space.
8. SBI Small Cap Fund: With the highest return of 25.30%, this fund captures aggressive growth potential. However, with a Beta of 1.20, it carries a higher risk, making it suitable for investors with a strong appetite for volatility.
9. Nippon India Small Cap Fund: Despite a stellar 27.50% return, the high Beta of 1.25 indicates significant risk. This fund is ideal for those with a high-risk tolerance who are chasing exceptional returns.
10. SBI Equity Hybrid Fund: While it offers the lowest return at 11.70%, its low Beta of 0.85 provides a cushion against volatility, making it an excellent choice for conservative investors who prioritize stability over high returns.

In 2024, the top three mutual funds—HDFC Mid-Cap Opportunities Fund, Kotak Flexicap Fund, and Axis Bluechip Fund—shine brightly due to their balanced approach between returns and risk, providing steady growth with manageable volatility. In the middle tier, funds like DSP Tax Saver Fund and ICICI Prudential Equity & Debt Fund deliver moderate returns with lower risk. Conversely, while Mirae Asset Emerging Bluechip Fund, SBI Small Cap Fund, and Nippon India Small Cap Fund boast impressive returns, their higher volatility places them lower in our ranking, making them better suited for risk-tolerant investors.

Top 10 Mutual Funds in SIP Funds 2024

For investors who prefer a disciplined approach, SIPs (Systematic Investment Plans) are the best way to invest in mutual funds over time. Top 10 mutual funds for SIP investments in 2024 include a variety of options catering to different risk appetites and financial goals. SIPs allow you to invest regularly, reducing the impact of market volatility over the long term.

Rank	Mutual Fund	5-Year Avg. Return	Risk (Beta)	AUM (in Crores)	Category
1	Axis Bluechip Fund	14.21%	0.95	25,000	Large-cap
2	Mirae Asset Large Cap Fund	12.80%	0.90	20,000	Large-cap
3	ICICI Prudential Bluechip Fund	13.00%	0.92	18,000	Large-cap
4	HDFC Small Cap Fund	18.60%	1.15	15,000	Small-cap
5	Kotak Flexicap Fund	17.00%	1.00	22,000	Flexi-cap
6	SBI Magnum Midcap Fund	15.30%	1.05	10,000	Mid-cap
7	DSP Midcap Fund	16.40%	1.10	12,000	Mid-cap
8	Nippon India Growth Fund	20.00%	1.20	9,000	Mid/small-cap
9	PGIM India Flexicap Fund	14.50%	0.85	11,000	Multi-cap
10	Axis Long-Term Equity Fund	13.40%	0.90	8,000	ELSS

The ranking here isn't solely based on returns or beta but rather on a mix of factors, tailored to SIP investors looking for long-term growth with manageable risk. Let’s break down the logic behind the list:

1. Axis Bluechip Fund ranks at the top because, for SIP investors prioritizing stability over maximum returns, it offers a balanced performance—solid 5-year average returns, low beta, and high AUM, indicating trust and resilience over time. This makes it an attractive anchor in a SIP portfolio.
2. High Return vs. Volatility: Funds with higher returns, like Nippon India Growth Fund, fall lower because they come with more volatility. While attractive, the higher beta makes them better suited for those willing to ride short-term market swings.
3. Mid-Cap and Small-Cap Funds: Funds like SBI Magnum Midcap and HDFC Small Cap are ranked in the middle. While they bring good returns, their mid- to high-level beta means they might not be the first choice for conservative SIP investors, but they’re ideal for adding some growth potential to a balanced portfolio.
4. Flexi-Cap and ELSS: Funds like Kotak Flexicap and Axis Long-Term Equity rank here due to their unique benefits. Kotak Flex cap’s adaptive investment style is valuable for SIP investors who want to stay flexible amid market shifts. Axis Long-Term Equity is also an ELSS, offering tax benefits, making it a strong option for long-term wealth building while saving on taxes.

In essence, this list prioritizes stability and consistent growth over maximum returns, fitting the needs of SIP investors looking for a structured, long-term investment.

Top 10 Mutual Funds for Long-Term Investing in 2024

Rank	Mutual Fund	5-Year Avg. Return	Risk (Beta)	AUM (in Crores)	Category
1	HDFC Index Fund - Nifty 50 Plan	13.50%	0.90	25,000	Index
2	ICICI Prudential Nifty Next 50 Index Fund	14.20%	0.88	22,000	Index
3	SBI Bluechip Fund	12.50%	0.85	24,000	Large-cap
4	Mirae Asset Large Cap Fund	13.20%	0.90	20,000	Large-cap
5	Kotak Standard Multicap Fund	14.00%	0.95	18,000	Multicap
6	HDFC Small Cap Fund	18.60%	1.15	15,000	Small-cap
7	DSP Flexi Cap Fund	15.00%	1.00	17,000	Flexicap
8	Axis Small Cap Fund	20.00%	1.20	12,000	Small-cap
9	Aditya Birla Sun Life Digital India Fund	22.00%	1.25	10,000	Sectoral - Technology
10	ICICI Prudential Technology Fund	23.50%	1.30	9,500	Sectoral - Technology

Index Funds Lead for Stability: Funds like HDFC Index Fund - Nifty 50 Plan and ICICI Prudential Nifty Next 50 rank high due to their low-cost, stable exposure to the market, ideal for long-term investors wanting consistency.

Large-Cap Stability: SBI Bluechip and Mirae Asset Large Cap follow, offering dependable returns with moderate risk, suiting conservative investors focused on steady growth.

Diverse Multicap and Flexicap: Kotak Standard Multicap and DSP Flexi Cap rank well for adapting to market changes, balancing growth across market caps, ideal for diversification.

Higher-Risk Small and Sectoral Funds: At the bottom, HDFC Small Cap and tech-focused funds like Aditya Birla Sun Life Digital India have higher volatility. While they offer strong growth potential, these are suitable for aggressive investors with a high-risk tolerance, leveraging long-term growth in tech and small-cap sectors.

Why Invest in Mutual Funds for 2024?

Mutual funds remain a popular choice due to their ability to offer diversification, professional management, and flexible investment options such as SIPs. Whether you prefer SIP plans for monthly contributions or index funds for simplicity, tax-saving benefits through ELSS funds, long-term capital appreciation with equity mutual funds, or a balanced portfolio with hybrid funds, the options in 2024 are vast and well-suited to different financial goals.

With these top 10 mutual funds to invest in 2024, you can ensure you're getting the best returns for your money. Always consider your risk tolerance and investment horizon before selecting a fund, and consult a financial advisor if needed. Whether you're a seasoned investor or just starting, 2024 offers plenty of opportunities to grow your wealth with mutual fund investments.

Acknowledgments: The insights and data in this list of top mutual funds for 2024 were informed by trusted financial research platforms and fund disclosures. We utilized Morningstar and Value Research for fund performance metrics, including average returns, risk (beta), and AUM. Additionally, official fund fact sheets from AMC websites like Axis, ICICI, and HDFC provided detailed, up-to-date statistics. These resources supported our data-driven approach to selecting funds for long-term growth and stability goals.

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