Mutual Funds are among the most popular as well as relatively less risk investments. It does not matter whether you are a novice investor or an experienced one, the mutual funds provide an easy portfolio diversification that also draws on the best expertise of the best fund managers. The then dilemma would be between how to choose between many options out there. Would you want to boost the return from investment this year? Here are the best performing mutual funds in 2024.
In this blog, we’re going to discuss 8 of the top performing mutual fund that delivered very impressive returns and demonstrate good success in such investments in 2024. So, be it an experienced investor or a newcomer that is opening a book, these funds will be excellent investment to add on your list.
1. SBI Bluechip Fund – Direct Growth
- Overview: SBI Bluechip Fund is one of the largest large-cap funds in India, providing an exposure to well-established companies with an excellent track record. This fund focuses on investing in blue-chip stocks from sectors including banking and energy, and to a limited extent, the technology sector. That said, this fund is more or less very safe for conservative investors.
- Investment Strategy: It is a long-term investment that aims for capital appreciation and focuses on large-cap stocks. With a low expense ratio of 0.64%, it is cost-effective, letting more returns stay in your pocket. Equity: 80% and Debt: 20% – It has given the fund a solid potential to grow while providing some stability through debt investments.
- Why It’s Top Performing: That one-year return of 24.5% reflects Indian equity’s good performance, especially for large-cap stock. Being a relatively risk-averse fund, it makes its appeal more into the conservative portfolio.
2. ICICI Prudential Technology Fund – Direct Plan
- Overview: A sector-specific fund, ICICI Prudential Technology Fund is a sector-specific fund that is an equity-oriented fund with an investment focus on the technology sector. The fund invests directly in the beneficiaries of improved technology, including software and IT services, as well as hardware manufacturers.
- Investment Strategy: The fund is very high-risk, high-reward, as 95 percent of the total amount invested goes into the stock of technology companies. Cash allocation stands at 5%. This has enabled the use of market liquidity for circumstances such as this. The one-year return of 30.2% in the investment was a direct reflection of the above factors shown in terms of growth in the tech sector; the increased demand for digital solutions and services in the post-pandemic world has led to this.
- Why It’s Top Performing: The sectors of technology have experienced phenomenal growth over the past couple of years, hence making this fund a good investment choice for aggressive investors willing to bet on future growth in digital transformation and tech innovation. On the other hand, a mindful approach in sector-specific risks would help investors.
3. Nippon India Small Cap Fund – Direct Growth
- Overview: Nippon India Small Cap Fund is a small-cap fund that targets the huge growth possibilities emerging companies have. Funds like this one are deemed more dangerous but provide stronger returns when the market favors smaller businesses with high growth potential.
- Investment StrategyThe Nippon India Small Cap Fund has made an investment of 90% in equities and 10% in debt. It has had a humongous target for growth since it focuses on small-cap stocks that have a great chance of growth. It does reflect pretty aptly in 41.7% return on one year, which states small-cap stocks have really flourished in 2024 and capitalized on a market rally that was extremely benevolent to them.
- Why It’s Top PerformingSmall-cap stocks have outperformed their larger peers over the past few years especially when the economy is expanding. In particular, this is a high-risk fund that would not be suitable to a risk-averse investor, although it would be an extraordinary positive feature for volatility takers with this fund.
4. HDFC Equity Fund – Direct Growth
- Overview: HDFC Equity Fund is one of the biggest mid-cap equity funds in the market. It offers a good mix of exposures to both large-cap and mid-cap stocks, making it suitable for those investors who seek stable returns with some exposure to higher-growth stocks.
- Investment Strategy: This fund places its investment between large and mid-cap stocks focusing on the former’s stability and growth potential of the latter. Its equity allocation is 70% to guarantee growth while 30% percent will be for debt to cushion the volatility that comes with the fluctuation of the stock market.
- Why It’s Top Performing: A 22.9% return in one year reflects a balance between growth and stability, so the fund is suited for investors who can take prudent risks for long-term gains. HDFC Equity ranks among the top performing mutual fund; it has remained stable through market cycles.
5. Mirae Asset Emerging Bluechip Fund
- Overview: In totality, the Mirae Asset Emerging Bluechip Fund is a large and mid-cap hybrid fund. Thus, the stability associated with large-cap equities comes together with the growth potential of mid-cap stocks. These serve for the investor who wants to have exposure to both well-established players and emerging players.
- Investment Strategy: 75% of the equity allocation is placed towards large-cap and emerging mid-cap stock, while 25% is placed towards debt instruments for stability. It is a balanced mix to reduce risk with high potential in growth. The 27.3% return in the last year testifies to the fund’s ability to capitalize well on both the stability of blue-chip-related items and mid-cap growth.
- Why It’s Top Performing: This is a diversified product, hence quite capable of taking good care of itself in the varying market conditions. That is why this fund will really work well for investors who look for growth and at the same time, wish to reduce some of the volatility of their level.
6. Aditya Birla Sun Life Tax Relief 96 Fund
- Overview: This is one of the Equity Linked Savings Schemes that offers tax benefit under Section 80 C and has a long track of delivering returns. Investors can, therefore, enjoy the benefits offered by high growth stocks while saving taxes due to the presence of 85% equity assets.
- Investment Strategy: This being an ELSS fund aids in generating both tax saving and capital appreciation through investments primarily in equity and its related instruments. The portfolio is generally designed to generate maximum returns in the long term. The one-year return of the fund rested at 19.8%, which is quite good and even more special, taken along with the benefit of saving tax.
- Why It’s Top Performing: This mutual fund is one of the top performing mutual fund for tax-conscious investors seeking good equity growth. The fund offers long-term tax benefits coupled with consistent returns, making it one of the top-performing funds for 2024.
7. Franklin India Prima Plus Fund
- Overview: Franklin India Prima Plus Fund is an open-ended multi-cap Scheme that invests in large, mid, and small-cap stocks. With this, it can concentrate on getting immense growth potential companies that have those huge growth potentials across different market segments.
- Investment Strategy: The portfolio has 70% of its asset bases in equities. This places it on a plane for capital growth. The 30% debt component stabilizes the blend of growth and safety in the portfolio. Its net return over the past year is 23.5%, which signifies an effective blending of growth and safety.
- Why It’s Top Performing: Franklin India Prima Plus Fund is ideal for investors seeking to ride the wave of diversified market exposure wherein a relatively minimum concentration of risk lies in one type of sector or market capitalization. It’s absolutely great for medium to long-term investors seeking growth without excessive risks.
8. Kotak Standard Multicap Fund – Direct Plan
- Overview: The Kotak Standard Multicap Fund follows flexible investment, where one can invest in large, mid and small-cap stocks. That multi-cap strategy offers a high growth potential while providing diversified risk across market segments.
- Investment Strategy: With 65% invested in equity and 35% in debt, this fund maintains a solid balance between growth and risk. The fund has a strong one-year return of 26.1%, reflecting its ability to capture opportunities in both large-cap stability and mid-small cap growth.
- Why It’s Top Performing: The diversified nature of the Kotak Standard Multicap Fund makes it outperform even during phases of bullish or bearish market cycles. Perfectly suitable for investors who aim to diversify a portfolio while targeting very high returns.
Conclusion
Accordingly, all of these top performing mutual fund 2024 come with unique benefits for investors depending on their goals and the kind of risk they can take. From conservative large-cap funds such as SBI Bluechip Fund to high-growth opportunities in small-cap and sectoral funds such as ICICI Prudential Technology Fund, a huge variety exists for every kind of investor. First, analyze your financial goals, your risk appetite and investment horizon for choosing the right mutual fund that aligns with your investment strategy. Remember always that at the top of the list is diversification. It brings you safely out of the risk quagmire. So always think of combining different kinds of funds to build a well-diversified portfolio.
