If you are looking for Best Mutual Funds to invest in 2023 via SIP in long term, then you are at the right place. In this article we will see the TOP 6 mutual funds that you should invest in 2023 with a time horizon of at least 3 years or more for better returns.
These mutual funds belong to large cap, mid cap and small cap categories and hence represents the top 500 companies in India as far as market capitalization is concerned. These mutual funds are selected based on expense ratio, AUM, portfolio of stocks under them and future predicted performances of these stocks. You can invest in these mutual funds via SIP (Systematic Investment Plan) over long term to get better returns.
Below is the table of Best Mutual Funds for 2023:
| Rank | Mutual Funds | AUM (Cr) | Expense Ratio | 3 Year Returns |
|---|---|---|---|---|
| 1 | Canara Rebeco Bluechip Equity Fund | ₹ 7,988 | 0.38% | 18.57% |
| 2 | Mirae Asset Large Cap Fund | ₹ 32,981 | 0.50% | 16.63% |
| 3 | Mirae Asset Midcap Fund | ₹ 8,439 | 0.57% | 28.14% |
| 4 | Kotak Emerging Equity Fund | ₹ 3,409 | 0.48% | 27.07% |
| 5 | SBI Small Cap Fund | ₹ 14,494 | 0.71% | 31.45% |
| 6 | Axis Small Cap Fund | ₹ 10,761 | 0.52% | 28.85% |
*Above Data is as of Oct 2022
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Let us now see Top 6 mutual funds for 2023 in India that you can consider investing for your long term goals.
1. Canara Rebeco Bluechip Equity Fund – Large Cap
- This fund belongs to Large cap category
- Currently it has an Expense Ratio of 0.38% which is lowest among all funds discussed in this post
- The total AUM (Asset Under Management) is Rs. 7,988 Cr
- The 3 year returns in this mutual fund is 18.57%
Who should invest?
Since this is a large cap category fund, it invests in top 100 companies in India as far as market capitalization is concerned. So those who want to take less risk can have exposure of this mutual fund with a time horizon of at least 3 years to 5 years.
2. Mirae Asset Large Cap Fund – Large Cap
- This fund belongs to Large cap category
- Currently it has an Expense Ratio of 0.50%
- The total AUM (Asset Under Management) is Rs. 32,981 Cr, which is highest AUM among all funds discussed in this post
- The 3 year returns in this mutual fund is 16.63%
Who should invest?
Since this is a large cap category fund, it invests in top 100 companies in India as far as market capitalization is concerned. So those who want to take less risk can have exposure of this mutual fund with a time horizon of at least 3 years to 5 years.
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3. Mirae Asset Midcap Fund – Mid Cap
- This fund belongs to Mid cap category
- Currently it has an Expense Ratio of 0.57%
- The total AUM (Asset Under Management) is Rs. 8,439 Cr
- The 3 year returns in this mutual fund is 28.14%
Who should invest?
Since this is a mid cap category fund, it invests in companies with ranks 101 to 250 in India as far as market capitalization is concerned. So those who can take some risks due to mid cap exposure of this mutual fund should invest with a time horizon of at least 3 years to 5 years.
4. Kotak Emerging Equity Fund – Mid Cap
- This fund belongs to Mid cap category
- Currently it has an Expense Ratio of 0.48%
- The total AUM (Asset Under Management) is Rs. 3,409 Cr
- The 3 year returns in this mutual fund is 27.07%
Who should invest?
Since this is a mid cap category fund, it invests in companies with ranks 101 to 250 in India as far as market capitalization is concerned. So those who can take some risks due to mid cap exposure of this mutual fund should invest with a time horizon of at least 3 years to 5 years.
ALSO READ: Rs. 2000 SIP Returns for 1-15 Years
5. SBI Small Cap Fund – Small Cap
- This fund belongs to Small cap category
- Currently it has an Expense Ratio of 0.71%
- The total AUM (Asset Under Management) is Rs. 14,494 Cr, so a lot of people also invests in this fund
- The 3 year returns in this mutual fund is 31.45%
Who should invest?
If you are looking for excellent returns in the period of 3 years to 5 years and are also ready to take some risks, you should invest in this mutual fund. Since it belongs to small cap category, this mutual fund comes with high risks but the rewards are also high.
You should think of long term investment when investing in SBI Small Cap fund since high risk doesn’t necessarily means high rewards in short term. So go with this fund only with long term goals.
6. Axis Small Cap Fund – Small Cap
- This fund belongs to Small cap category
- Currently it has an Expense Ratio of 0.52%, which is low for a small cap mutual fund
- The total AUM (Asset Under Management) is Rs. 10,761 Cr
- The 3 year returns in this mutual fund is 28.85%
Who should invest?
If you are looking for excellent returns in the period of 3 years to 5 years and are also ready to take some risks, you should invest in this mutual fund. Since it belongs to small cap category, this mutual fund comes with high risks but the rewards are also high.
You should think of long term investment when investing in Axis Small Cap fund since high risk doesn’t necessarily means high rewards in short term. So go with this fund only with long term goals.
ALSO READ: Section 80C Deductions List to Save Income Tax
Conclusion
So these were the best mutual funds that are expected to give better returns in 2023-24 and upcoming years. Remember that past returns does not guarantee future returns and you should invest in mutual funds based on your risk appetite.
All categories mutual funds in the list covers the top 500 companies in India and thus helps you investing in these companies belonging to large and mid cap categories.
Also remember that SIP is the best way to invest in Mutual funds. You can use the SIP Calculator to calculate your returns in mutual funds:
Some more Reading
- How to invest in SIP online
- Taxation on Short Term Capital Gains
- SIP Returns Calculation in Excel
- Income Tax on Mutual Funds SIP
- Income Tax Calculator Excel Download
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