In the realm of personal finance, Systematic Investment Plans (SIPs) have emerged as a powerful tool for investors seeking long-term wealth accumulation. With their disciplined approach and potential for compounding returns, SIPs offer a compelling option for those looking to invest in the stock market. As we approach 2024, it’s an opportune time to explore the best SIPs to invest in mutual funds options that align with your financial goals.
Top 10 best SIPs for Your Investment in 2024.
1. ICICI Prudential Nifty 50 Index Fund
- Monitors the progress of the leading 50 companies on the National Stock Exchange (NSE).
- ICICI Prudential Nifty 50 Index Direct Plan-Growth returns of last 1-year are 21.30%. Since launch, it has delivered 13.33% average annual returns.
- Presents a varied investment portfolio with a proven history of success.
- The ICICI Prudential Nifty 50 Index Fund has invested the majority of its money in the stocks of the following companies –
2. HDFC Small Cap Index Fund
- This fund is to Invests in small-cap companies with high growth potential.
- Offers the opportunity to capture the potential returns of India’s growing economy.
- HDFC Small Cap Fund Direct- Growth returns of last 1-year are 47.33%. Since launch, it has delivered 21.06% average annual returns.
- Suitable for investors with a higher risk tolerance and a long-term investment horizon.
- The HDFC Small Cap Fund has invested the majority of its money in the stocks of the following companies –
3. Mirae Asset Emerging Bluechip Fund
- Focuses on investing in emerging blue-chip companies with strong fundamentals.
- Aims to capture the growth potential of companies poised for expansion.
- Suitable for investors looking for a balanced approach to equity investing.
4. ICICI Prudential Bluechip Fund
- Invest in well-established companies with strong market presence.
- Offers stability and the possibility of steady profits.
- The fund has the majority of its money invested in Financial, Energy, Automobile, Technology, Construction sectors. It has taken less exposure in Financial, Energy sectors compared to other funds in the category.
- Ideal for investors looking for a cautious approach to investing in stocks.
- The ICICI Prudential Bluechip Fund has invested the majority of its money in the stocks of the following companies –
5. Kotak Standard Multicap Fund
- Diversifies investments across different market sizes, providing a well-rounded portfolio.
- Kotak Flexicap Fund Direct-Growth returns of last 1-year are 25.02%. Since launch, it has delivered 16.88% average annual returns.
- The fund’s top 5 holdings are in ICICI Bank Ltd., Ultratech Cement Ltd., Larsen & Toubro Ltd., Infosys Ltd., Axis Bank Ltd..
- Strives to deliver steady returns by adopting a multi-cap strategy.
- Ideal for investors looking to explore different market segments.
6. Axis Midcap Fund
- Specializes in investing in mid-sized companies that show promising growth potential.
- Provides the opportunity for greater returns when compared to funds that focus on larger companies.
- Axis Midcap Direct Plan-Growth returns of last 1-year are 32.08%. Since launch, it has delivered 19.52% average annual returns.
- The fund’s top 5 holdings are in Trent Ltd., Cholamandalam Investment and Finance Company Ltd., Supreme Industries Ltd., Indian Hotels Co. Ltd., Persistent Systems Ltd..
- The Axis Midcap Fund has invested the majority of its money in the stocks of the following companies -.
7. SBI Small Cap Fund
- Focuses on investing in small-cap companies that have the potential for significant growth.
- Offers an opportunity to gain exposure to the dynamic and high-potential sector of the Indian economy.
- Designed for investors who have a high tolerance for risk and a long-term investment outlook.
- SBI Small Cap Fund Direct-Growth returns of last 1-year are 29.15%. Since launch, it has delivered 25.87% average annual returns.
- The SBI Small Cap Fund has invested the majority of its money in the stocks of the following companies –
8. Franklin India High Growth Companies Fund
- Focuses on investing in companies that have a promising growth trajectory and the potential to generate substantial future earnings.
- Strives to capitalize on the opportunities presented by businesses that have the potential to emerge as leaders in their respective industries.
- Provides an avenue for investors who are looking to gain exposure to stocks with significant growth potential.
9. Invesco India Contra Fund
- Utilizes a unique investment strategy by focusing on undervalued and unpopular stocks.
- Seeks to capitalize on the potential recovery of these companies.
- This fund has been in existence for 11 yrs, having been launched on 01/01/2013. Invesco India Contra Fund Direct-Growth has ?12,975 Crores worth of assets under management (AUM) as on 31/12/2023 and is medium-sized fund of its category.
- Ideal for investors looking for portfolio diversification and the opportunity for value-based investments.
- The Invesco India Contra Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 32.33% since its inception.
10. ICICI Prudential Technology Fund
- Specializes in investing in technology companies.
- The ICICI Prudential Technology Direct Plan Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 28.07% since its inception.
- Provides access to the fast-growing and dynamic technology industry.
- Ideal for investors seeking to capitalize on the opportunities in the tech sector
Conclusion
By this guide – best SIPs to Invest your money, choosing the best SIPs to invest in 2024 involves careful consideration of your financial goals, risk tolerance, and investment horizon. By diversifying your portfolio across various sectors and market capitalizations, you can increase your chances of achieving long-term financial success. Before making any investment decisions, it’s advisable to consult with a financial advisor to align your investment strategy with your specific financial situation and objectives.
