Top 5 Mutual Funds to Invest in 2024

Updated on December 18, 2024 , 37251 views

Mutual Funds off late have become a popular mode of investment, and many investors are inclining towards Investing in it. Mutual Funds don’t only offer good returns, but also gives a systematic opportunity to achieve Financial goals, which is of one the reason for their popularity in recent times. However, in order to achieve the desired investment goal or to earn good returns, investing in the right fund is important. That’s why we are here! Investors planning to invest in Mutual Funds, we bring you some of the Best Performing Mutual Funds that you need to consider while investing. These funds have been shortlisted by undertaking important parameters like AUM, NAV, past performances, peer average returns, information ratio, etc.

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Top 5 Best Performing Mutual Funds in India

Best Equity Mutual Funds 2024

Fund	NAV	Net Assets (Cr)	Min Investment	Min SIP Investment	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2023 (%)	Information Ratio	Sharpe Ratio
SBI PSU Fund Growth	₹30.884 ↓ -0.44	₹4,686	5,000	500	-4.7	-6	35	37.1	24.5	54	-0.36	1.63
Motilal Oswal Midcap 30 Fund Growth	₹110.263 ↓ -3.47	₹22,898	5,000	500	2.7	18.1	58.4	36.7	33.1	41.7	1.28	2.78
ICICI Prudential Infrastructure Fund Growth	₹186.07 ↓ -3.49	₹6,990	5,000	100	-6.4	-0.9	33.5	35.5	30.5	44.6	0	2.1
Invesco India PSU Equity Fund Growth	₹60.57 ↓ -1.52	₹1,345	5,000	500	-6.4	-9.7	33.7	34.9	27.2	54.5	-0.72	1.74
LIC MF Infrastructure Fund Growth	₹51.2399 ↓ -0.87	₹852	5,000	1,000	0.7	5.1	54.7	34.6	27.6	44.4	1.04	2.57
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 20 Dec 24
Note: Ratio's shown as on 30 Nov 24

Best Debt Funds 2024

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	2023 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
Franklin India Ultra Short Bond Fund - Super Institutional Plan Growth	₹34.9131 ↑ 0.04	₹297	1.3	5.9	13.7	8.8		0%		1Y 15D
Sundaram Short Term Debt Fund Growth	₹36.3802 ↑ 0.01	₹362	0.8	11.4	12.8	5.3		4.52%	1Y 2M 13D	1Y 7M 3D
Aditya Birla Sun Life Credit Risk Fund Growth	₹20.4859 ↓ -0.01	₹921	4.3	7	11.8	8.6	6.9	8.01%	2Y 22D	3Y 3M 18D
Sundaram Low Duration Fund Growth	₹28.8391 ↑ 0.01	₹550	1	10.2	11.8	5		4.19%	5M 18D	8M 1D
Aditya Birla Sun Life Medium Term Plan Growth	₹37.088 ↓ -0.01	₹1,999	3.2	5.9	10.3	13.7	6.9	7.65%	3Y 7M 28D	4Y 10M 24D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 7 Aug 22

Best Hybrid Funds 2024

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2023 (%)
JM Equity Hybrid Fund Growth	₹123.226 ↓ -1.78	₹720	-5.2	0.6	30	23.6	23.8	33.8
HDFC Balanced Advantage Fund Growth	₹497.854 ↓ -4.76	₹95,570	-2.7	1.9	19.4	23	19.9	31.3
ICICI Prudential Equity and Debt Fund Growth	₹361.71 ↓ -4.04	₹40,089	-6.5	2.2	19.7	20.2	21.1	28.2
ICICI Prudential Multi-Asset Fund Growth	₹696.596 ↓ -4.50	₹50,988	-3	3.1	17.8	19.8	20.5	24.1
BOI AXA Mid and Small Cap Equity and Debt Fund Growth	₹39.2 ↓ -0.67	₹1,054	0.2	5.2	29.6	19.7	27.1	33.7
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 20 Dec 24

Best Gold Mutual Funds 2024

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2023 (%)
UTI Multi Asset Fund Growth	₹71.1884 ↓ -0.77	₹4,682	-3.7	3.8	23.1	18.4	15.4	29.1
Edelweiss Multi Asset Allocation Fund Growth	₹60.98 ↓ -0.76	₹2,267	-4.1	4.8	21.9	18.1	17.7	25.4
SBI Gold Fund Growth	₹22.3963 ↓ -0.13	₹2,516	1.4	3.7	20.1	14.7	13.4	14.1
Axis Gold Fund Growth	₹22.4079 ↓ -0.10	₹696	1.6	3.5	19.9	14.6	13.6	14.7
Nippon India Gold Savings Fund Growth	₹29.2975 ↓ -0.21	₹2,193	1.3	3.6	19.4	14.4	13.1	14.3
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 20 Dec 24

Mutual Fund Types: Risk and Return

Before you invest, know the basic risk and average returns of the following Mutual Fund categories:

Mutual Fund Category	Average Return	Risk	Type of Risk
Equity Funds	2%-20%	High to Moderate	Volatility Risk, Performance Risk, Concentration Risk
Debt/Bonds	8-14%	Low to Moderate	Interest Rate Risk, Credit Risk
Money market funds	4%-8%	Low	Inflation Risk, Opportunity Loss
Balanced Fund	5-15%	Moderate	Higher exposure to Equity, Debt Holdings

Mutual Fund Calculator: Pre-Determine Your Investment Returns

A sip calculator is a smart tool that solves major queries of investors like ‘how much to invest’, ‘how much would I earn’, ‘how much would be my profit’, etc. A mutual fund calculator, more specifically, SIP calculator pre-determines your investment amount for the tenure you would like to invest for. It is also one of the best tools for effective financial planning. Whether one wants to plan to buy a car, house, plan for retirement, a child's higher education or any other financial goal, the SIP calculator can be used for the same. Here’s how the calculator works:

Illustration:

Monthly Investment: ₹ 2,000

Investment Period: 10 years

Total Amount Invested: ₹ 2,40,000

Long-term Inflation: 5% (approx)

Long-term Growth Rate: 14% (approx)

Expected Returns as per SIP Calculator: ₹ 4,98,585

All you need to do in a SIP calculator is enter some basic inputs like investment amount and period of investing (additional inputs like inflation and expected Market returns will give a more realistic picture). The output of these entries would be the final amount at maturity and gains made.

A similar calculation with a goal in mind can also be made to determine the amount one should invest to reach the goal. You have to choose a particular goal, like the ones below, and estimate the details using the goal calculator.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.