Some of the Best Mutual Funds for 2024 to invest via SIP are HDFC Large and Midcap Fund, Nippon India Large Cap Fund, Motilal Oswal Nifty Midcap 150 Index Fund, HDFC Midcap Opportunity Fund, Motilal Oswal Nifty Smallcap 250 Index Fund and Nippon India Small Cap Fund. Apart from these, there are some more good funds that you can invest in 2024.
We will see Top 6 Mutual Funds details along with their AUM (Asset under Management), expense ratio and past 3 years returns. Below is the table for Best Mutual Funds for 2024 that cover top 500 companies in India:
| Rank | Mutual Funds | AUM (Cr) | Expense Ratio | 3 Year Returns |
|---|---|---|---|---|
| 1 | HDFC Large and Midcap Fund | ₹ 11,810 | 0.95% | 31.56% |
| 2 | Nippon India Large Cap Fund | ₹ 16,634 | 0.87% | 28.90% |
| 3 | Motilal Oswal Nifty Midcap 150 Index Fund | ₹ 1,041 | 0.30% | 31.58% |
| 4 | HDFC Midcap Opportunity Fund | ₹ 48,686 | 0.85% | 34.35% |
| 5 | Motilal Oswal Nifty Small Cap 250 Index Fund | ₹ 437 | 0.36% | 35.36% |
| 6 | Nippon India SmallCap Fund | ₹ 37,374 | 0.71% | 45.19% |
Watch below video to know details of all these mutual funds.
Best Mutual Funds for 2024 Video
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If you are new to investment in Mutual Funds and want to learn basics, I have video playlist of Mutual Funds for Beginners to help you understand the basics of mutual funds. Do check out the video series on YouTube Channel
Let us now see Top 6 mutual funds for 2024 in India that you can consider investing for your long term goals.
1. HDFC Large and Midcap Fund
- This fund belongs to Large and mid cap category
- Currently it has an Expense Ratio of 0.95% which is lowest among all funds discussed in this post
- The total AUM (Asset Under Management) is Rs. 11,810 Cr
- The 3 year returns in this mutual fund is 31.56%
Who should invest?
Since this is a large and midcap category fund, it invests in top 250 companies in India as far as market capitalization is concerned. So those who want to take moderate risk and good returns from midcap companies can have exposure of this mutual fund with a time horizon of at least 5 years to 7 years.
ALSO READ: All Types of Mutual Funds in India
2. Nippon India Large Cap Fund
- This fund belongs to Large cap category
- Currently it has an Expense Ratio of 0.87%
- The total AUM (Asset Under Management) is Rs. 16,634 Cr
- The 3 year returns in this mutual fund is 28.90%
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. Motilal Oswal Nifty Midcap 150 Index Fund
- This fund belongs to Mid cap category and is an index mutual fund
- Currently it has an Expense Ratio of 0.30%
- The total AUM (Asset Under Management) is Rs. 1041 Cr
- The 3 year returns in this mutual fund is 31.58%
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: What is Equity Mutual Fund, Features and Benefits
4. HDFC Midcap Opportunity Fund
- This fund belongs to Mid cap category
- Currently it has an Expense Ratio of 0.85%
- The total AUM (Asset Under Management) is Rs. 48,686 Cr
- The 3 year returns in this mutual fund is 34.35%
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. Motilal Oswal Nifty Smallcap 250 Index Fund
- This fund belongs to Small cap category
- Currently it has an Expense Ratio of 0.36%, which is very low compared to other mutual funds
- The total AUM (Asset Under Management) is Rs. 437 Cr
- The 3 year returns in this mutual fund is 35.36%
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 Motilal Oswal Nifty Smallcap 250 Index Fund since high risk doesn’t necessarily means high rewards in short term. So go with this fund only with long term goals.
6. Nippon India Smallcap Fund
- This fund belongs to Small cap category
- Currently it has an Expense Ratio of 0.71%
- The total AUM (Asset Under Management) is Rs. 37,374 Cr
- The 3 year returns in this mutual fund is 45.19%
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 Nippon India Smallcap 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 are the best mutual funds for 2024 that are expected to give good returns in 2024-25 and upcoming years. Remember that past returns does not guarantee future returns and you should invest in mutual funds based on your risk appetite. You should analyze the portfolio of stocks under these mutual funds,
All categories of 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
- Open Ended vs Closed Ended Mutual Funds
- Rs. 1000 Mutual Fund Returns Calculation
- What is NAV in Mutual Fund
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