Finding the appropriate mutual fund in the constantly changing financial choices can feel like stumbling through a maze. The Indian financial markets are teeming with opportunity, and your decisions today will significantly impact your financial future. It’s critical to stay on top of trends regarding prudent investing as we enter 2023.
We have assembled a list of the “10 Best Mutual Funds in 2023 for Lumpsum amount of Investment in India” These funds were picked based on past performance, risk-reward ratios, and suitability for the present economic environment.
Top 10 Best Mutual Funds For Lumpsum Investments In India 2023:
Here is the list of the top 10 best mutual funds to buy in 2023. You can calculate lumpsum returns using online calculators. You can enter the amount you wish to invest and the mutual fund details to check your returns.
Equity Investments:
Investments in the equity market are higher in risk and are best suited for long-term investments.
- Quant Mid Cap Fund Direct Growth Plan has an expense ratio of 0.76% and a 5-year return of 24.32% p.a.
Benchmark: Nifty Midcap 150 TRI
This is a mid-cap category fund in direct mutual funds investment with 17.95% annualised returns since inception and an AUM of ₹2,788.8 Crores as of 12-Sep-2023
- Quant Active Fund Direct Growth Plan has an expense ratio of 0.77% and a 5-year return of 23.58% p.a.
Benchmark: NIFTY 500 Multicap
This is a multi-cap category fund in direct mutual funds with 20.54% annualised returns since inception and an AUM of ₹ 5688.19 Cr as of 12-Sep-2023.
- Quant Flexi Cap Fund Direct Growth Plan has an expense ratio of 0.77% and a 5-year return of 23.53% p.a.
Benchmark: Nifty 500 TRI
This is a Flexi Cap category fund in the direct mutual fund investment with 14.13% annualised returns since inception and an AUM of ₹ 1908.69 Cr as of 12-Sep-2023.
- PGIM India Midcap Opportunities Fund Direct Growth Plan has an expense ratio of 0.41% and a 5-year return of 22.53% p.a.
Benchmark: Nifty Midcap 150 TRI
This is a mid-cap category fund in the direct mutual fund investment with 17.71% annualised returns since inception and an AUM of ₹ 9392.69 Cr as of 12-Sep-2023.
Tax-saving funds:
It is an open-ended scheme which is an equity-linked savings plan with a 3-year statutory lock-in tenure and a tax incentive. Suitable for Investors who wish to put money into an investment for at least three years and who also want to get more significant profits and save money on taxes.
- Quant Tax Plan- Direct-Growth Plan has an expense ratio of 0.76% and a 5-year return of 25.59% p.a.
Benchmark: Nifty 500 TRI
This is an ELSS (Equity Linked Saving Scheme) category fund in direct mutual funds investment with 15.24% annualised returns since inception and an AUM of ₹ 4605.77 Crores as of 12-Sep-2023.
- Bank of India Tax Advantage Fund Direct Growth Plan has an expense ratio of 1.24% and a 5-year return of 18.24% p.a.
Benchmark: S&P BSE 500 TRI
This is an ELSS (Equity Linked Saving Scheme) category fund in direct mutual funds investment with 17.78% annualised returns since inception and an AUM of ₹ 843.13 Crores as of 12-Sep-2023
Hybrid Funds:
This is a category of investments with exposure to the debt as well as the equity market and is well suited for conservative to balanced investors who wish to invest in the equity market but not completely and also would like to have a portion of the investment in debt to offset the potential risks.
- ICICI Prudential Equity & Debt Fund Direct Growth Plan has an expense ratio of 1.14% and a 3-year return of 30.37% p.a.
Benchmark: CRISIL Hybrid 35+65 – Aggressive Index
This is an Aggressive Hybrid Fund category fund in direct mutual funds investment with 15.00% annualised returns since inception and an AUM of ₹ 25274.57 Crores as of 12-Sep-2023.
- Quant Multi Asset Fund Direct Growth Plan has an expense ratio of 0.67% and a 3-year return of 29.45% p.a.
Benchmark: 65% in the S&P BSE 200 Index, 15% in the CRISIL Index of Short Term Bond Fund and the remaining 20% in the Composite Index iCOMDEX TRI.
This is an Aggressive Hybrid Fund category fund in direct mutual funds investment with 10.55% annualised returns since inception and an AUM of ₹ 978.39 Crores as of 12-Sep-2023.
Debt Funds:
This is best suited for conservative investors or for people with short-term financial goals who do not wish to participate in the volatility of the market.
- Bank of India Short Term Income Fund Direct Growth Plan has an expense ratio of 0.6% and a 1-year return of 13.27% p.a.
Benchmark: CRISIL 10-Year Gilt Index
This is a Short Term Income Fund category fund in direct mutual funds investment with 5.85% annualised returns since inception.
- ICICI Prudential Short Term Fund Direct Growth Plan has an expense ratio of 0.4% and a 1-year return of 7.52% p.a.
Benchmark: CRISIL 10-Year Gilt Index
This is a Short Duration Fund category fund in direct mutual funds investment with 7.84% annualised returns since inception and an AUM of ₹ 16656.1 crores as of 12-sep-2023.
Conclusion:
Making wise investing decisions and staying informed are crucial in the dynamic world of finance. As we close the “10 Best Mutual Funds for Lump Sum Investment in India 2023,” remember that selecting the best funds is only one aspect of successful investing. You must also constantly analyze and modify your portfolio in response to shifting market conditions. Investments need to be chosen carefully according to your asset allocation, risk profile and financial goals.
To get the most out of your lump sum investments, diversify your holdings, keep an eye on your financial objectives, and, if necessary, speak with a financial counsellor. Therefore, invest in funds that can easily open the door to a stable and fulfilling financial future.
