Top 10 Mutual Funds For SIP To Invest In 2024

A Mutual Fund is a pool of funds or money where a group of investors with common investment objectives invest their funds in money market instruments, bonds, equities, or other securities. The amount of profit or income generated from the investment is divided proportionately among the investors on the basis of their investment. In this blog, we will discuss the top 10 mutual funds for SIP if you are planning to start your investment in 2024. These funds have been selected based on their past performances.

SIP stands for Systematic Investment Plan is the most common way of investing in Mutual Funds. Mutual Funds for SIP are used to build wealth for the future. SIPs are deducted on a fixed interval of time as decided by the investor at the beginning of the investment.

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Mutual Funds For SIP : SBI Bluechip Fund

This is a large-cap fund. SBI Bluechip Fund has an investment of about 95.14% in domestic equities. Bluechip Fund is suitable for investors who can invest their money for at least 2-4 years and also looking for high interest.

SBI Bluechip Fund has been listed as one of the top 10 Mutual Funds To Invest In 2024 because of its great performance. This fund has been yielding an average return of around 15.8% over the last five years.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 10,566 today.

Mutual Funds For SIP : HDFC Small Cap Fund

This is a small-cap fund suitable for investors who are planning to invest the money for 3-4 years with high interest. The fund has delivered an average annual return of around 21.69% in the last five years making it one of the best mutual funds for SIP.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 11,658.70 today.

Mirae Asset Emerging Bluechip Fund

This is one of the best mutual funds for a Systematic Investment Plan. It is a large and mid-cap fund. This fund has been fetching an average annual return of 20.72% over the last 5 years. The fund has around 96.52% of its investment in domestic equities.

It will prove to be one of the best mutual funds for SIP, as this fund has a greater potential for growth if someone is planning to invest in it for around 5 years.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 11,278.30 today.

Mutual Funds For SIP : Axis Bluechip Fund

The fund has given an average of around 17% returns to its investors in the last 5 years. The company invests its funds only in bluechip funds making it a high-potential fund and in turn, adding it to the list of top mutual funds for Systematic Investment Plan.

Around 94% of its investment is made in domestic equities and a very negligible Ir 0.9% has been parked in Government Securities.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 10,451 today.

Nippon India Small Cap Fund

This is a small-cap fund and it has been fetching an impressive annual return of 20.26% for a few years making it one of the top mutual funds for Systematic Investment Plan.

The contribution of Mr. Sailesh Raj Bhan, its fund manager has been commendable as he has successfully chosen the high growth funds and small-cap stocks. He has tactfully managed to get it included in the best mutual funds for SIP category.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 11,886 today.

Franklin India Smaller Companies Fund

Mr. R. Janakiraman, the fund manager has identified the best small-cap companies for investment and has been fetching excellent results.

This fund has yielded an average annual return of around 18.28%. The fund has around 92.28% of its investments in domestic equities.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 11,744 today. So, this has become one of the top mutual funds for SIP in 2024.

Aditya Birla Sun Life Equity Fund

This is a Flexi cap fund and has its investment in Large, Mid, and Small-cap funds. This fund has been fetching an average annual return of 15.02% for its investors.

Mr. Mohit Sharma the fund manager has been successfully able to pick funds and bring it to the top list of mutual funds for SIP in 2024.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 10,937 today.

Kotak Multicap Fund

This multi-cap fund includes all three types of funds i.e. Large, Small, and Mid-cap funds. The fund has around 93.36% of its investment in domestic equities. Mr. Harsha Upadhyay with his expertise has helped this fund get included in the top list of mutual funds for SIP in 2024.

The fund has been able to fetch its investors with an annual average return of around 14.83% in the last 5 years.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 11,547 today.

ICICI Prudential Bluechip Fund

The fund has an investment of 89.79% in domestic equities. It has been fetching an average annual return of 15.34% for the last 5 years.

The fund manager Mr. Rajat Chandak strongly believes in investing the fund in bluechip companies which in turn makes it a high-potential fund and has helped it get included in the top list of mutual funds for SIP in 2024.

Suppose, you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 10,897.20 today.

DSP Midcap Fund

This fund has been excellently performing for the last few years.

Also, if you invest Rs. 10,000 for 3 months on 1st June 2023, it would have been Rs. 11,721 today.

The fund has fetched an average annual return of 18.03% in the last 5 years and has made it to the top list of mutual funds for SIP in 2024.

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Mutual Funds for SIP : Conclusion

We have discussed the top 10 mutual funds for SIP in 2024 so that this will help you analyze and invest better for your future Wealth Management. Also remember investing in mutual funds involves risk and should be done only with the advice of your financial advisor. Happy Investing!