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This blog covers the ✓ 50 best SIPs for 2023-24. A SIP is one of the best ways to invest in mutual funds & helps you maximize returns by investing consistently.
One of the best ways to invest in mutual funds is through SIPs i.e. Systematic Investment Plans. Instead of putting a large chunk of your money into an investment in the form of a lump sum payment – you get to invest regularly in smaller amounts.
A SIP gives you the best means to maximize returns while investing in multiple mutual funds. A SIP is a fixed monthly investment amount that you can choose as per your comfort.
Let’s now dive into a list of current top recommendations of SIPs to invest in.
The top 50 best + 3 bonus mutual fund SIPs are handpicked by our mutual fund advisor, Wealth First.
Nippon India Liquid Fund is a relatively low risk debt fund that invests in high grade bonds (A1+) and other debt securities. It's been known to generate predictable returns because it takes as little as 3 months for its portfolio to mature.
The investment objective of SBI Liquid Fund is to leverage a wide range of high rated debt securities like bonds and money market instruments. The fund looks to generate solid returns with a portfolio maturity of 91 days.
HDFC liquid fund invests in debt and money market securities with thorough credit analysis. The fund's portfolio matures in 91 days or less. HDFC liquid fund has been active since October 2000.
The Invesco India Liquid Fund Growth has been there from 17 Nov 2006 and the average annual returns provided by this fund is 5.31% since its inception.
ICICI Prudential Liquid Fund has a unique approach towards investment and basks in the glory of being an offspring of the renowned asset management company, ICICI Prudential Mutual Fund Growth. The fund's portfolio matures in 91 days.
The Mirae Asset Cash Management Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 5.43% since its inception.
The Axis Liquid Fund Growth has been there from 09 Oct 2009 and the average annual returns provided by this fund is 5.36% since its inception.
The Motilal Oswal Liquid Fund Direct Growth has been there from 20 Dec 2018 and the average annual returns provided by this fund is 5.02% since its inception.
The SBI Arbitrage Opportunities Fund Direct Growth has been there from 10 Jan 2013 and the average annual returns provided by this fund is 5.38% since its inception.
The IDFC Arbitrage Fund Direct Growth has been there from 31 Dec 2012 and the average annual returns provided by this fund is 5.17% since its inception.
The Franklin India Overnight Fund Direct Growth has been there from 08 May 2019 and the average annual returns provided by this fund is 5.13% since its inception.
The Kotak Liquid Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 5.35% since its inception.
The Canara Robeco Liquid Direct Plan Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 5.40% since its inception.
The Edelweiss Liquid Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 5.40% since its inception.
The DSP Liquidity Direct Growth has been there from 31 Dec 2012 and the average annual returns provided by this fund is 5.40% since its inception.
The PGIM India Liquid Fund Direct Plan Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 5.42% since its inception.
The Sundaram Liquid Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 5.45% since its inception.
The Mahindra Manulife Liquid Fund Direct Growth has been there from 04 Jul 2016 and the average annual returns provided by this fund is 5.48% since its inception.
The Quant Liquid Direct Plan Growth has been there from 05 Jan 2013 and the average annual returns provided by this fund is 5.39% since its inception.
IDFC Banking & PSU Debt Fund is an open-ended debt scheme that invests in high grade bonds (AAA, A1+) issued by banks and public sector undertakings. Debt funds from this category are known to generate solid returns that's generally better than bank FDs.
HDFC Money Market Fund invests in securities from the money market in order to generate predictable returns better than an average bank FD. The fund has been in the market since 1999 and has generated 7.38% since inception.
ICICI Prudential Corporate Bond Fund is suitable for investors who aim to invest in AA+ or above rated corporate bonds. The fund has been in the market since 2009 and has generated 6.93% since inception.
The Axis Banking & PSU Debt Direct Plan Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 4.01% since its inception.
The IDFC Ultra Short Term Fund Direct Growth has been there from 18 Jul 2018 and the average annual returns provided by this fund is 5.05% since its inception.
The IDFC Dynamic Bond Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 1.89% since its inception.
The Axis Money Market Fund Direct Growth has been there from 06 Aug 2019 and the average annual returns provided by this fund is 5.35% since its inception.
The HDFC Money Market Fund Growth has been there from 18 Nov 1999 and the average annual returns provided by this fund is 5.15% since its inception.
An open-ended equity fund that invests in leading companies with large market capitalization across various sectors which have the potential to give stable returns. The average annual returns provided by this fund is 13.96% since its inception.
The ICICI Prudential Bluechip Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 7.03% since its inception.
Kotak Nifty 50 Index Fund generates returns that are commensurate with the performance of the NIFTY 50 Index, subject to tracking errors. The average annual returns provided by this fund is 6.76% since its inception.
Flexi Cap Fund is an open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks. The average annual returns provided by this fund is 10.46% since its inception.
The Nippon India Flexi Cap Fund Direct Growth has been there from 16 Aug 2021 and the average annual returns provided by this fund is 4.00% since its inception.
The Quant Active Fund Direct Growth has been there from 07 Jan 2013 and the average annual returns provided by this fund is 7.97% since its inception.
The Mahindra Manulife Multi Cap Badhat Yojana Direct Growth has been there from 11 May 2017 and the average annual returns provided by this fund is 4.67% since its inception.
Mahindra Manulife Focused Equity Yojana fund is an equity mutual fund scheme launched by Mahindra Mutual Fund. Mahindra Manulife Focused Equity Yojana fund was made available to investors in 2016.
The HDFC Large and Mid Cap Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 10.80% since its inception.
The Mirae Asset Focused Fund Direct Growth has been there from 15 May 2019 and the average annual returns provided by this fund is -1.04% since its inception.
The Invesco India Contra Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 7.14% since its inception.
The Kotak Equity Opportunities Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 10.69% since its inception.
The Canara Robeco Emerging Equities Fund Direct Growth has been there from 02 Jan 2013 and the average annual returns provided by this fund is 2.79% since its inception.
The HDFC Flexi Cap Direct Plan Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 16.86% since its inception.
The ICICI Prudential India Opportunities Fund Direct Growth has been there from 15 Jan 2019 and the average annual returns provided by this fund is 16.04% since its inception.
The Kotak Nifty Next 50 Index Fund Direct Growth has been there from 02 Mar 2021 and the average annual returns provided by this fund is -4.74% since its inception.
The Motilal Oswal Midcap Fund Direct Growth has been there from 24 Feb 2014 and the average annual returns provided by this fund is 19.17% since its inception.
The ICICI Prudential Smallcap Fund Direct Plan Growth has been there from 02 Jan 2013 and the average annual returns provided by this fund is 12.72% since its inception.
The Kotak Small Cap Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 4.57% since its inception.
The PGIM India Midcap Opportunities Fund Direct Growth has been there from 02 Dec 2013 and the average annual returns provided by this fund is 6.32% since its inception.
The Nippon India Nifty Smallcap 250 Index Fund Direct Growth has been there from 16 Oct 2020 and the average annual returns provided by this fund is 1.79% since its inception.
The Quant Small Cap Fund Direct Plan Growth has been there from 07 Jan 2013 and the average annual returns provided by this fund is 15.33% since its inception.
The Invesco India Invesco EQQQ NASDAQ 100 ETF FoF Direct Growth has been there from 21 Apr 2022 and the average annual returns provided by this fund is NA% since its inception.
The Kotak Tax Saver Fund Direct Growth has been there from 01 Jan 2013 and the average annual returns provided by this fund is 9.64% since its inception.
The Quant Tax Plan Direct Growth has been there from 07 Jan 2013 and the average annual returns provided by this fund is 8.97% since its inception.
A Systematic Investment Plan or SIP is a method of investing in mutual fund schemes. Investing in SIPs is a methodical and diligent approach preferred by several investors.
Here are some key benefits you get if you invest in mutual funds through the SIP route:
Everyone! Even if you have other investments, there are no good reasons to not invest in mutual funds using SIPs. The above-listed benefits will make it clear that having SIPs is a great way to invest and will work even for seasoned investors.
Essentially, anyone who is looking to create long term wealth and is not chasing a get rich quick scheme should invest using SIPs.
If you look at SIP returns over the past decade you will realize that no matter how severe a dip the market sees, mutual fund investments have almost always been safe and when it comes to those who invest even through the lows, mutual fund investments via the SIP route reap rich returns and dividends.
However, one must ensure they consult a wealth coach and only invest in mutual funds after clearly understanding their risk appetite, financial goals and needs.
To identify the best SIP Mutual Funds, you must take multiple things into account:
Broadly speaking, there are two simple ways of buying mutual funds in India – one where you invest a big amount in one go (Lump Sum Investment) & the other where you invest small yet substantial amounts at regular intervals (SIP). Let’s look at both of these a little more closely:
This is when you invest a large sum of money to buy mutual funds in one single transaction. This way you buy a big chunk of a mutual fund scheme that you believe will perform well in the long run.
A lump sum investment works well when the market is down or when you’re investing for the long term and have a good risk appetite. People generally do this when they receive a large sum of money from retirement or sale of a house etc.
However, most people can not afford to risk a large sum of money. Which is why they use Systematic Investment Plans (SIPs)
In this method of mutual fund investment you can give your bank a standing instruction to automatically debit a fixed amount of money from your account every month, quarter or year.
This fixed amount of money is invested in a mutual fund scheme of your choice. This is a more disciplined and hands-off approach to investing in mutual funds. You can use the Cube Wealth App to safely invest in Mutual Funds via the SIP route.
Ans. The Cube Wealth app is the easiest way to invest in SIPs. You can invest in SIPs for as low as ₹1000.
Ans. You can invest in the best mutual funds via SIPs on the Cube Wealth app. These funds are hand-picked by our wealth advisor, Wealth First. Speak to a wealth coach to know which best SIP investment could work for you.
Ans. Safe is a relative term. However, investing in an SIP helps you think long term and worry less about short term market fluctuations.
Ans. Based on bad investing decisions, market fluctuations, or both, there is a risk involved in SIPs just like every other investment. Speak to a wealth coach to invest in the best SIPs.
Ans. Mutual fund SIPs are known to average out losses and produce favorable returns over the long term. So it is never too late to invest in a mutual fund SIP. Speak to a wealth coach or download the Cube Wealth app to know more.
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