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Mutual funds are a popular investment choice. In India, investors can pick from thousands. However, finding the top or the best one is challenging. So, consider your risk tolerance and goal duration.
What Are the Best Mutual Funds?
Mutual funds invest in various assets, including debt, stocks, and gold. They come in three types: equity, debt, and hybrid funds. Each type has different goals and risks. When assessing a fund, look at its performance over time. A fund that performs well one year might fall the next.
This article summarises the top mutual funds to suit most investors’ risks and goals.
1. Aditya Birla Sun Life PSU Equity Fund Direct-Growth
As of March 31, 2024, assets of the fund stand at ₹3,403.63 crore and the expense ratio is at 0.50%. It holds 57.47% in large-cap stocks and the remaining in mid-cap at 16.97% and small-cap at 10.98%. This makes the fund very speculative and highly invested in stocks. It holds stakes in BOB, NTPC Ltd, CIL, SBI, Bank of India, ONGC, GAIL, BHEL & IREDA, etc.
2. SBI PSU Direct Plan-Growth
The fund’s asset till March 31, 2024 is ₹ 1,875.84 crores and the expense ratio is 0.92 % . It invests 91.05% in equities: Large-cap being 39.26%, mid-cap being 25.88% and lastly small-cap being 17.91% of the stocks. The core investment groups comprise Indian Bank, State Bank of India, NHDC, Canara Bank, BHEL, Oil India, Hindustan Aeronautics, Indian Oil Corporation, NHPC, Oil and Natural Gas Corporation, and NTPC.
3. Aditya Birla Sun Life Medium Term Plan Direct-Growth
As of 31 March 2024, the fund has ₹ 1,863.18 crores in assets, and the ratio of expenses to the assets is 0.85 %. Its credit portfolio consists of 93.98% in bonds, of which 46.21% are government securities and 44. 01% are risk-free bonds. Key investments are in Government of India stock, JM Financial Credit Solutions Ltd., National Bank for Agriculture and Rural Development Ltd., LIC Housing Finance Ltd, and Avanse Financial Services Ltd.
4. Quant Multi Asset Fund Direct-Growth
The fund has managed an AUM of ₹1829.08 crores as 2024 of March, having an expense ratio of 0.76 %. It invests 65.84% in equities, 19.77% in Large cap, 17. 03 in mid-cap, and 8. 23% in small-cap stocks. Also, 6.89% of this stock is in debt; 4.2% of it is in government securities, and the remaining 2.69% is in low-risk securities. Major Investments are JIO Financial Services, Reliance Industries, Hindalco Industries Limited, Orchid Pharma Limited and Adani Power Limited.
5. Nippon India Strategic Debt Fund Direct-Growth
Currently, the fund has ₹119.93 crores in assets. It has a ratio of expense 0.51% by March 31, 2024. It submits 92.55 percent of its property for debt. 34.77% of the amount is invested in government securities; 57.78% of the amount is placed in low-risk instruments. The lot consists of Pipeline Infrastructure (India) Private Limited, Godrej Properties Limited, and Reliance Jio Infratel Private Limited.
India’s top mutual fund schemes for 2024 showcase a vibrant market. They offer options for various investment goals and risk levels. Importantly, staying updated on trends and using a Mutual Fund Lumpsum Calculator aids investors in making informed decisions for a better financial future.