Top-Performing Mutual Funds in 2024: Based on Historical Performance
As we navigate the investment landscape in 2024, Indian investors are seeking mutual funds with proven track records. We’ve compiled a list of top-performing funds across various categories, based on their historical returns. Remember, while past performance doesn’t guarantee future results, it can be a useful indicator of a fund’s potential.
Equity Funds: Consistent Performers
- Axis Bluechip Fund – Direct Plan – Growth
- Category: Large Cap
- 5-year average return: 15.8%
- Assets Under Management (AUM): ₹37,562 Crore
- Fund Manager: Shreyash Devalkar
This fund has consistently outperformed its benchmark, focusing on high-quality large-cap stocks.
- Mirae Asset Great Consumer Fund – Direct Plan – Growth
- Category: Thematic
- 5-year average return: 18.2%
- AUM: ₹1,729 Crore
- Fund Manager: Neelesh Surana
Capitalizing on India’s growing consumer market, this fund has delivered strong returns.
- Parag Parikh Flexi Cap Fund – Direct Plan – Growth
- Category: Flexi Cap
- 5-year average return: 17.5%
- AUM: ₹49,487 Crore
- Fund Manager: Rajeev Thakkar
Known for its flexible approach and global diversification, this fund has gained popularity among investors.
Debt Funds: Stability with Returns
- ICICI Prudential Corporate Bond Fund – Direct Plan – Growth
- Category: Corporate Bond
- 3-year average return: 7.5%
- AUM: ₹23,981 Crore
- Fund Manager: Manish Banthia
This fund has provided consistent returns with lower risk, focusing on high-quality corporate bonds.
- Kotak Gilt Fund – Direct Plan – Growth
- Category: Gilt
- 3-year average return: 6.8%
- AUM: ₹2,294 Crore
- Fund Manager: Abhishek Bisen
Investing primarily in government securities, this fund offers a balance of safety and returns.
Hybrid Funds: Balancing Act
- Canara Robeco Equity Hybrid Fund – Direct Plan – Growth
- Category: Aggressive Hybrid
- 5-year average return: 14.6%
- AUM: ₹7,968 Crore
- Fund Managers: Shridatta Bhandwaldar, Avnish Jain
This fund has maintained a good balance between equity and debt, delivering consistent returns.
Small and Mid Cap Funds: High Growth Potential
- Quant Small Cap Fund – Direct Plan – Growth
- Category: Small Cap
- 3-year average return: 48.7%
- AUM: ₹3,556 Crore
- Fund Manager: Sandeep Tandon
Despite higher volatility, this fund has delivered exceptional returns in the small-cap space.
- PGIM India Midcap Opportunities Fund – Direct Plan – Growth
- Category: Mid Cap
- 5-year average return: 22.3%
- AUM: ₹6,963 Crore
- Fund Manager: Aniruddha Naha
Focusing on mid-sized companies with growth potential, this fund has outperformed its category.
Expert Insights
Vikram Mehta, a mutual fund analyst, comments, “While these funds have shown impressive performance, investors should consider their risk tolerance and investment horizon. A diversified portfolio across different fund types is often the best strategy.”
Key Considerations
- Risk Assessment: Understand your risk tolerance before investing, especially in high-return categories like small and mid-cap funds.
- Investment Horizon: Align your fund choices with your investment timeline. Equity funds generally require a longer investment horizon.
- Regular Monitoring: Keep track of your investments and rebalance your portfolio periodically.
- Expense Ratio: Consider the fund’s expense ratio, as it impacts overall returns.
- Tax Implications: Be aware of the tax implications of your investments, particularly the difference between equity and debt fund taxation.
Regulatory Note
The Securities and Exchange Board of India (SEBI) continues to emphasize transparency in mutual fund operations. Always refer to the latest fund factsheets and disclosure documents for up-to-date information.
Remember, it’s crucial to conduct your own research or consult with a financial advisor before making investment decisions. These fund suggestions are based on past performance and market conditions can change rapidly.
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