Introduction
If you want to invest in the stock market but don't have enough saved-up corpus, don't fret! You can still make investments consistently through a method called a Systematic Investment Plan (SIP). You invest through SIP in Mutual Funds regularly based on your comfort timeline and amount. Among the many choices for SIP investments, some stand out based on their returns, performance, management, and adaptability to changing market conditions. Learn about them in this blog.
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Top 10 SIP mutual funds in 2024
Explained below are some of the top-ranking Mutual Funds for SIP in India in 2024 :
The Parag Parekh Flexi Cap Fund provides exposure to Indian and international equity. This fund has consistently delivered solid returns with a focus on diversified sectors to manage risk and optimise growth. Its NAV is Rs.79.59 with an expense ratio of 1.33%, Rs.82,441.07 crores fund size and a 1-year return rate of 38.06%. The minimum SIP investment required is Rs. 1,000.
Mirae Asset Large & Midcap Fund balances stability and growth. It invests in both large and midcap companies with a proven track record. The fund delivers steady performance while balancing risks. Its NAV is Rs.145.1, with an expense ratio of 1.54%, Rs.40,670.03 crores fund size, and 33.01% 1-year return. The minimum SIP amount for this fund is Rs.5,000.
This fund focuses on blue-chip stocks. It aims for stability and gradual growth by investing in companies with solid fundamentals. It offers consistent returns with a conservative approach. Its NAV is Rs.30.99, with an expense ratio of 1.65%, Rs.15,331.79 expense ratio, and a 33.8% 1-year return rate. The minimum SIP amount required for this fund is Rs. 5,000.​​​​​​​
Primarily investing in large-cap stocks, the ICICI Prudential Bluechip Fund aims for a long-term capital appreciation with a lower market volatility. Its NAV is Rs.106.37 with an expense ratio of 1.45%, Rs.66,206.56 crores fund size, and yearly return of 37.33%. You can invest in this fund with a SIP amount as low as Rs.100.​​​​​​​
SBI Bluechip Fund invests in top blue-chip companies to provide consistent returns and minimise investment risks. It comes with low to moderate risk. Its NAV is Rs.89.8046 with an expense ratio of 1.48%, Rs.53,276.14 crores fund size, and a yearly return rate of 28.91%. You can invest in this fund with a minimum SIP amount of Rs.5,000.​​​​​​​
By investing in well-established companies, Kotak Bluechip Fund targets offer balanced returns with steady capital growth. Its NAV is Rs.71.419, with an expense ratio of 1.74%, a fund size of Rs.9,806.11 crores, and a 33.52% 1-year return rate. You can invest in this fund with an SIP amount of as little as Rs. 100.​​​​​​​​​​​​​​
This fund aims to generate attractive returns by investing in small-cap companies with a potential for significant growth. Despite its volatility, it has delivered appealing returns. Its NAV is Rs.171.6261 with an expense ratio of 1.42%, Rs.62,259.55 crores fund size, and 42.08% 1-year return rate. You can invest in it with a minimum SIP amount of Rs.5,000.
DSP Flexi Cap Fund has a good performance record. It invests in stocks across market capitalisations, providing flexibility to adapt to market trends and economic conditions. Its NAV is Rs.101.576, with an expense ratio of 1.73%, Rs.12,415.55 crores fund size, and a 38.7% 1-year return rate. The minimum SIP amount required to invest in this fund is Rs.1,000.
Combining equity and debt, this fund aims for stable returns while managing volatility through a balanced allocation. Its NAV is Rs.534.572, with an expense ratio of 0.72%, Rs.96,535.51 crores fund size, and a 1-year return rate of 34.07%. The minimum SIP amount you need to invest in this fund is Rs. 1,000.
By investing in both large and mid-cap stocks, this fund aims for growth and stability, while balancing risks across sectors. Its NAV is Rs.85.377, with an expense ratio of 1.87%, a fund size of 3,780.9 crores, and a 40.6% 1-year return rate. You need a minimum SIP amount of Rs.100 to invest in this fund.
Note: The data for the funds above is as updated on 29th October 2024.
Conclusion​​​​​​​
Choosing the right SIP mutual fund in 2024 depends on your goals, risk appetite, and investment horizon. If you are looking to build your wealth gradually, these top 10 SIP mutual funds offer options across categories. They include the stability of large caps, the growth potential of small caps, and the balanced approach of flexi-cap funds. As SIPs benefit from the power of compounding, it is best to start investing early and staying committed.​​​​​​​
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