Investing in mutual funds is like planting seeds for your financial future. But with so many options available, it can be overwhelming to choose the right ones. That’s why we’ve compiled a list of the top five high-return mutual funds in India for 2024. Whether you’re a seasoned investor or just starting out, these funds offer promising returns and peace of mind.
- Nippon India Growth Fund
- Mirae Asset Midcap Fund
- HDFC Top 100 Fund
- Axis Midcap Fund
- DSP Midcap Fund
1. Nippon India Growth Fund
| Period (in year) | Returns (₹10000) | SIP Returns (₹1000 SIP) |
| 1 | ₹15061.90 | ₹12000 – ₹14354.25 |
| 2 | ₹15848.50 | ₹24000 – ₹32596.76 |
| 3 | ₹20252.60 | ₹36000 – ₹52861.21 |
| 5 | ₹28606.50 | ₹60000 – ₹120226.32 |
| 10 | ₹63468.20 | ₹120000 – ₹340000.29 |
Over the past three years, the Nippon India Large Cap Fund has delivered an annualized return of 24.7%, and over the last five years, it has yielded 17.89%. This fund falls within the Equity category of Nippon India Mutual Funds. To invest in the Nippon India Large Cap Fund through lump sum, a minimum of ₹100 is required, while for Systematic Investment Plans (SIP), the minimum investment amount is also ₹100.
2. Mirae Asset Midcap Fund
| Period (in year) | Returns (₹10000) | SIP Returns (₹1000 SIP) |
| 1 | ₹14343.50 | ₹12000 – ₹14055.97 |
| 2 | ₹14375.30 | ₹24000 – ₹30949.55 |
| 3 | ₹18400.20 | ₹36000 – ₹49359.28 |
Mirae Asset Midcap Fund is a type of investment where your money is used to buy parts of smaller companies that have potential to become big in the future. Ankit Jain manages this fund, which currently holds around ₹14,536.22Cr (as of February 29, 2024). You can invest in this fund either by regularly putting in at least ₹500 (SIP) or by making a one-time investment of at least ₹5000. However, keep in mind that there are fees involved, and they can go up to 2.25% of what you invest.
3. HDFC Top 100 Fund
| Period (in year) | Returns (₹10000) | SIP Returns (₹1000 SIP) |
| 1 | ₹13893.20 | ₹12000 – ₹14251.77 |
| 2 | ₹14730.30 | ₹24000 – ₹31348.36 |
| 3 | ₹17552.30 | ₹36000 – ₹50198.05 |
| 5 | ₹20551.10 | ₹60000 – ₹102824.71 |
| 10 | ₹41539.80 | ₹120000 – ₹268567.7 |
HDFC Top 100 Fund is an investment option from HDFC Mutual Fund. It focuses on buying stocks from India’s top 100 companies to grow your money over time. It’s medium-sized, with about ₹31,653 Crore as of February 29, 2024. You can start investing with just ₹100, but there’s a fee of around 1.08%. In terms of performance, it’s done quite well, beating its benchmarks in recent years. However, it’s a bit riskier because it mainly invests in bigger companies. Overall, if you’re okay with some risk and want your money to grow steadily, this fund could be a good choice, but keep an eye on the fees.
4. Axis Midcap Fund
| Period (in year) | Returns (₹10000) | SIP Returns (₹1000 SIP) |
| 1 | ₹13694.30 | ₹12000 – ₹13804.27 |
| 2 | ₹13182.70 | ₹24000 – ₹29796.10 |
| 3 | ₹16270.70 | ₹36000 – ₹46377.22 |
| 5 | ₹24481.10 | ₹60000 – ₹100003.20 |
| 10 | ₹61074.70 | ₹120000 – ₹300418.69 |
Axis Midcap Fund is an investment option that focuses on mid-sized companies in India. Managed by Shreyash Devalkar, it aims to grow your money over time by investing in these companies. As of March 18, 2024, it has performed well, with returns ranging from 18.06% since its inception (about 13 years ago) to 19.61% over the past five years. However, it carries a higher risk due to its focus on mid-sized companies.
The fund’s Direct Plan Growth Option is priced around ₹100.32 per unit (as of March 18, 2024), and it typically requires around ₹500 for regular investments (SIP) or ₹5000 for a one-time investment (lump sum). While the fee for the Regular Plan is about 1.6%, it might be lower for the Direct Plan (you should confirm with your distributor). This fund suits investors willing to take on some risk and aiming for long-term growth, ideally for at least five years.
5. DSP Midcap Fund
| Period (in year) | Returns (₹10000) | SIP Returns (₹1000 SIP) |
| 1 | ₹13827.80 | ₹12000 – ₹13507.55 |
| 2 | ₹13124.30 | ₹24000 – ₹29462.36 |
| 3 | ₹15123.00 | ₹36000 – ₹45221.80 |
| 5 | ₹21089.50 | ₹60000 – ₹93260.18 |
| 10 | ₹55363.10 | ₹120000 – ₹263069.05 |
DSP Midcap Fund is an investment that focuses on mid-sized companies in India, aiming to help your money grow over time. Managed by Vinit Sambre, Jay Kothari, Resham Jain, and Abhishek Ghosh, it has delivered good returns, but the consistency of these returns may vary. The fund’s Expense Ratio for the Direct Plan Growth is 0.81%, slightly higher than some similar funds, and while it’s not as risky as funds that focus solely on mid-cap companies, it still carries more risk than those investing in larger companies.
With around ₹16,312 Crore in Assets Under Management (AUM) as of December 31, 2023, it mainly focuses on sectors like financials, technology, healthcare, and automobiles. However, the minimum investment amount may vary depending on the platform. Overall, if you’re seeking long-term growth and are comfortable with moderate risk, this fund could be a good fit, but it’s crucial to assess the consistency of returns and consult a financial advisor for personalized advice.
Other high return mutual funds in India 2024
- Aditya Birla Sun Life Mutual Fund
- ICICI Prudential Bluechip Fund
- PGIM India Midcap Opportunities Fund
- SBI Bluechip Fund
- Bandhan Mutual Fund
- Edelweiss Large Cap Fund
Conclusion
Choosing the right mutual funds is crucial for achieving your financial goals, whether it’s wealth creation, tax savings, or a combination of both. These high-return mutual funds in India for 2024 mentioned above offer a diverse range of investment opportunities to suit different risk profiles and objectives. Remember to do your research, consider your investment goals, and consult with a financial advisor if needed before making any investment decisions. Happy investing!
