Mutual funds remain one of the most popular investment options in India for individuals seeking to grow their wealth over time. Whether you are a conservative investor looking for stable returns or an aggressive one seeking high growth, there are mutual funds catering to every need. As we step into October 2024, many investors are asking key questions: Which mutual fund is best for lumpsum in 2024? What are the top 3 large-cap mutual funds in 2024? Which mutual fund is best for the next 5 years? Which SIP gives 40% return in India?
In this comprehensive guide, we will explore the top five mutual funds to invest in for October 2024, based on their performance, growth potential, and suitability for different investor profiles. We will also include important metrics like past returns, risk factors, and investment strategies to provide you with a clear understanding of which funds to consider for your portfolio.
1. SBI Bluechip Fund: The Powerhouse of Large-Cap Funds
Why Invest in SBI Bluechip Fund?
SBI Bluechip Fund is one of the most sought-after large-cap funds in India. Known for its strong portfolio of top-tier companies, it provides stable and consistent returns to investors, making it an ideal choice for those looking to invest lumpsum in 2024. The fund invests primarily in large-cap companies that have a proven track record of financial stability and growth, ensuring less volatility compared to mid or small-cap funds.
- Category: Large Cap
- Investment Objective: Capital appreciation through investments in large-cap companies
- Risk Profile: Moderately High
Historical Performance:
| Year | 1-Year Return | 3-Year Return (Annualized) | 5-Year Return (Annualized) |
|---|---|---|---|
| 2024 | 12% | 15% | 14% |
| 2023 | 8% | 13% | 12% |
| 2022 | 10% | 10% | 11% |
Why Choose SBI Bluechip Fund?
- Consistent Performance: Over the last 5 years, the fund has delivered stable returns, outperforming its peers in the large-cap category.
- Ideal for Lumpsum Investment: Its low volatility and stable growth make it perfect for those looking to invest a large sum in 2024.
2. Axis Bluechip Fund: High-Quality Large-Cap Investments
Why Invest in Axis Bluechip Fund?
Axis Bluechip Fund has consistently delivered excellent returns, making it one of the top choices among large-cap mutual funds in 2024. The fund focuses on investing in companies with robust fundamentals, a competitive edge, and strong management.
- Category: Large Cap
- Investment Objective: Long-term capital appreciation
- Risk Profile: High
Historical Performance:
| Year | 1-Year Return | 3-Year Return (Annualized) | 5-Year Return (Annualized) |
|---|---|---|---|
| 2024 | 14% | 17% | 16% |
| 2023 | 10% | 15% | 13% |
| 2022 | 11% | 12% | 13% |
Why Choose Axis Bluechip Fund?
- Superior Returns: Axis Bluechip Fund has outperformed other funds in the large-cap category, making it an excellent choice for investors seeking long-term growth.
- Top 3 Large-Cap Fund: It ranks among the top 3 large-cap funds for 2024 due to its consistent high returns.
3. HDFC Small Cap Fund: Ideal for Aggressive Investors
Why Invest in HDFC Small Cap Fund?
HDFC Small Cap Fund is perfect for investors with a higher risk appetite. While small-cap funds are more volatile, they also offer higher potential for returns. This fund has performed exceptionally well over the past few years, thanks to its focus on small and emerging companies with strong growth potential.
- Category: Small Cap
- Investment Objective: High growth potential through investments in small-cap stocks
- Risk Profile: High
Historical Performance:
| Year | 1-Year Return | 3-Year Return (Annualized) | 5-Year Return (Annualized) |
|---|---|---|---|
| 2024 | 25% | 28% | 22% |
| 2023 | 21% | 26% | 19% |
| 2022 | 18% | 20% | 17% |
Why Choose HDFC Small Cap Fund?
- High Return Potential: If you’re looking for a mutual fund that can give a significant boost to your portfolio, this small-cap fund offers higher returns than many large-cap counterparts.
- Ideal for Long-Term Investment: Small-cap funds typically perform better over a 5-10 year horizon, making this an excellent option for those willing to stay invested for the long term.
4. Mirae Asset Emerging Bluechip Fund: Balanced Growth
Why Invest in Mirae Asset Emerging Bluechip Fund?
Mirae Asset Emerging Bluechip Fund is a mid-cap fund that strikes a balance between the stability of large-cap stocks and the high growth potential of mid-cap stocks. This fund has consistently provided superior returns and is ideal for both SIP and lumpsum investments in 2024.
- Category: Mid Cap
- Investment Objective: Capital appreciation by investing in mid-cap stocks
- Risk Profile: Moderately High
Historical Performance:
| Year | 1-Year Return | 3-Year Return (Annualized) | 5-Year Return (Annualized) |
|---|---|---|---|
| 2024 | 20% | 23% | 19% |
| 2023 | 18% | 20% | 17% |
| 2022 | 16% | 18% | 15% |
Why Choose Mirae Asset Emerging Bluechip Fund?
- Balanced Growth: It offers a great balance between risk and reward by investing in both large and mid-cap stocks, providing high returns with relatively moderate risk.
- Top Performer in Mid-Cap Category: This fund continues to be a top performer in the mid-cap segment in 2024.
5. ICICI Prudential Technology Fund: Ride the Tech Boom
Why Invest in ICICI Prudential Technology Fund?
The technology sector is booming, and ICICI Prudential Technology Fund allows investors to capitalize on the growth in this space. It focuses on technology-driven companies that are leading innovation in India and globally. This fund has delivered stellar returns, driven by the rapid growth of the tech industry.
- Category: Sectoral/Technology
- Investment Objective: Long-term capital appreciation by investing in technology stocks
- Risk Profile: High
Historical Performance:
| Year | 1-Year Return | 3-Year Return (Annualized) | 5-Year Return (Annualized) |
|---|---|---|---|
| 2024 | 35% | 30% | 28% |
| 2023 | 28% | 25% | 22% |
| 2022 | 22% | 20% | 18% |
Why Choose ICICI Prudential Technology Fund?
- High Growth Sector: Technology stocks are expected to continue outperforming other sectors, making this fund a great option for aggressive investors.
- Massive Return Potential: If you’re looking for a mutual fund that can potentially offer 40% returns over time, this technology fund is one to watch.
SIPs with High Return Potential
If you’re seeking the best SIP that could deliver 40% returns in India, sectoral funds like ICICI Prudential Technology Fund are your best bet. However, returns are never guaranteed, and sectoral funds tend to be more volatile. Long-term SIP investments in high-growth sectors like technology, healthcare, or digital finance have a higher chance of delivering substantial returns over time.
SIP Table Comparison:
| Fund Name | 1-Year SIP Return | 3-Year SIP Return (Annualized) | 5-Year SIP Return (Annualized) |
|---|---|---|---|
| SBI Bluechip Fund | 10% | 12% | 11% |
| Axis Bluechip Fund | 12% | 15% | 13% |
| HDFC Small Cap Fund | 22% | 25% | 20% |
| Mirae Asset Emerging Bluechip Fund | 18% | 21% | 18% |
| ICICI Prudential Technology Fund | 30% | 28% | 26% |
Conclusion: Which Mutual Fund is Best for 2024?
Choosing the right mutual fund for your investment strategy in 2024 depends on your risk tolerance, investment horizon, and financial goals. For those looking for stability with reasonable returns, SBI Bluechip Fund and Axis Bluechip Fund are excellent choices, particularly for large-cap exposure. Investors with a higher risk appetite can consider funds like HDFC Small Cap Fund and ICICI Prudential Technology Fund for higher returns.
If you’re planning to invest lumpsum in 2024, focus on funds like SBI Bluechip Fund or Axis Bluechip Fund for consistent, stable growth. On the other hand, Mirae Asset Emerging Bluechip Fund offers a good mix of large and mid-cap exposure, providing balanced growth.
For SIP investors, sector-specific funds like ICICI Prudential Technology Fund provide the potential for high returns, though they come with higher risk. Regardless of which fund you choose, staying invested for the long term and periodically reviewing your portfolio are key to maximizing your returns.
| Fund Name | Category | 1-Year Return | 3-Year Return (Annualized) | 5-Year Return (Annualized) | Risk Level |
|---|---|---|---|---|---|
| SBI Bluechip Fund | Large Cap | 12% | 15% | 14% | Moderately High |
| Axis Bluechip Fund | Large Cap | 14% | 17% | 16% | High |
| HDFC Small Cap Fund | Small Cap | 25% | 28% | 22% | High |
| Mirae Asset Emerging Bluechip Fund | Mid Cap | 20% | 23% | 19% | Moderately High |
| ICICI Prudential Technology Fund | Sectoral (Technology) | 35% | 30% | 28% | High |
By incorporating these funds into your portfolio, you can strategically position yourself to achieve financial growth in 2024 and beyond.
