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Top-performing equity mutual funds for capital growth in 2024

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05 Apr 20246 mins readBy MOFSL

A modern investor's portfolio will most likely contain mutual funds. These instruments are emerging as a cornerstone of investment strategies for individuals ranging from young novice investors to seasoned financial enthusiasts. 

Let’s take a deep dive into Equity mutual funds and try to get a good understanding of some of the best ones out there in the market. 

What are Equity Mutual Funds?

Equity mutual funds pool in money from various individuals to invest in the stock market, allowing you to gain from the market's movements. These funds are managed by expert professionals who aim for capital growth over a long-term period.

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Why should you add Equity Funds to your portfolio?

By allocating investments in several stocks, equity funds help to mitigate the risk tied to the performance of any single company. This is done through the expertise of seasoned fund managers, who apply their knowledge in stock selection and study market trends. 

Equity funds' core aim is capital appreciation, which means they focus on increasing the value of the fund's holdings over the long term. 

Who should invest in Equity Funds?

  • If you have long-term investment goals

These funds are especially suitable for you if you're planning to invest over an extended period, as they are geared towards capital growth over time.

  • If you are comfortable with the risk

If you are comfortable with the stock market's ups and downs and can bear short-term volatility, equity funds might be your right investment choice.

  • If you are seeking growth opportunities

If you are attracted to achieving higher returns and increasing your capital despite the risks associated with the market, equity funds offer a valuable opportunity for your investment portfolio.

Equity Mutual funds to invest in India in 2024

Equity Mutual funds can be further divided into segments based on market cap, momentum, sectoral and thematic styles. This categorisation is used as a primary basis to pick stocks within the mutual fund portfolios. 

Let’s look at the returns earned by some of the mutual funds within large & mid-cap, flexi cap and ESG thematic mutual fund segments:

Equity: Large & Midcap segment

This category of mutual fund invests primarily in equity stocks of large and mid-cap companies. Here is a list of some top-performing large and mid-cap schemes:

Scheme Name

AUM (Crore)

1 Year

3 Years

5 Years

10 Years

Since Launch 

Motilal Oswal Large and MidCap Reg Gr 

3,297.45

46.32

23.26

-

-

22.77

Quant Large & MidCap Gr

1,689.23

58.69

30.82

25.97

23.26

14.98

Mahindra Manulife Large & Mid Cap Fund Reg Gr

1,825.46

50.94

23.92

-

-

24.72

Bandhan Core Equity Reg Gr

3,723.34

50.7

23.96

20.41

16.6

13.76

HDFC Large and Mid Cap Gr

16,033.22

47.8

24.58

21.88

15.09

11.87

Note: The above date represents returns earned by top large and mid-cap mutual funds in India

Equity : Flexi Cap

Flexi-cap funds allocate their funds across large-cap, mid-cap, and small-cap categories. This means they spread their investments among stocks from companies of all sizes, from the largest and most established to the smaller and more growth-oriented.

Scheme Name

AUM (Crore)

1 Year

3 Years

5 Years

8 Years

Quant Flexi Cap Gr Dir

3,539.90

60.94

35.81

31.91

26.21

JM Flexi Cap Dir Gr

1,437.98

60.06

27.92

24.93

22.24

Motilal Oswal Flexi Cap Fund Dir Gr

9,131.44

47.4

14.66

14.64

15.32

HSBC Flexi Cap Gr Dir

4,115.56

47.09

22.52

20.51

19.22

Franklin India Flexi Cap Dir Gr

14,165.22

45.07

22.44

20.54

17.59

HDFC Flexi Cap Dir Gr

47,642.42

42.93

26.1

21.17

20.08

Note: The above date represents returns earned by top Flexi cap mutual funds in India

Equity: ESG Thematic Investing

Thematic-ESG mutual funds concentrate on industries that promote sustainable growth, such as renewable energy, clean technology, and efficient resource management. 

Scheme Name

AUM (Crore)

1 Year

3 Years

Since Launch 

Quant ESG Equity Gr Dir

214.66

52.18

36.47

43.12

ICICI Pru ESG Exclusionary Strategy Dir Gr

1,421.31

40.26

17.94

21.57

SBI Magnum Equity ESG Fund Dir Gr 

5,471.50

29.32

15.35

14.72

Kotak ESG Exclusionary Strategy Dir Gr

1,000.24

31.71

14.75

15.58

Axis ESG Integration Strategy Dir Gr 

1,353.31

31.93

12.45

18.5

Note: The above date represents returns earned by top ESG mutual funds in India

Summing up

The mutual fund sector is diverse and offers multiple categories, each carrying its own level of risk. Selecting the most suitable fund for yourself involves finding one that matches your risk tolerance. For instance, large-cap equity funds typically present lower risk than flexi-cap or small-cap funds.

Your investment requirements can vary from time to time. So, pick a mutual fund to meet your risk tolerance and time horizon. Investors should base their investment choices on these factors and ensure they make an informed investment decision.

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Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
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