Mutual funds

Top Mutual Funds to Buy in 2024

Best Mutual Funds to Invest in 2024

Looking to invest in the best mutual funds in India for 2024? Making informed decisions about your investments is crucial for long-term financial success. Here’s a detailed guide to help you navigate the world of mutual funds and choose the right options for your investment portfolio.

top mutual funds

Understanding Mutual Funds

Mutual funds are investment vehicles that pool money from multiple investors to invest in a diversified portfolio of assets such as stocks, bonds, and other securities. They offer a convenient way for individual investors to access professional money management and diversification.

Why Invest in Mutual Funds?

  1. Diversification: Mutual funds spread investment across various assets, reducing the risk associated with individual stocks or bonds.
  2. Professional Management: Fund managers make investment decisions on behalf of investors, leveraging their expertise and research capabilities.
  3. Liquidity: Mutual funds offer liquidity, allowing investors to buy or sell units at the prevailing net asset value (NAV) on any business day.
  4. Affordability: With mutual funds, investors can start with relatively small amounts, making it accessible to a wide range of investors.

Equity Mutual Funds

Equity mutual funds invest primarily in stocks, offering the potential for high returns over the long term. They are suitable for investors with a higher risk tolerance and a long-term investment horizon.

Best for Long-Term Wealth Creation:

Equity mutual funds are ideal for investors looking to achieve long-term financial goals such as retirement planning, wealth accumulation, or building a corpus for their children’s education.


  1. Large Cap Funds: These funds invest in well-established companies with large market capitalization, offering stability and growth potential.
  2. Mid-Cap Funds: Focus on mid-sized companies with the potential for rapid growth, suitable for investors seeking higher returns.
  3. Small-Cap Funds: Target smaller companies with significant growth potential, offering the possibility of substantial returns but carrying higher risk.


Consider the Quant Small Cap Fund, which has delivered impressive returns of 43.05% over the past 3 years and 38.16% over the past 5 years.

Debt Mutual Funds

Debt mutual funds invest primarily in fixed-income securities such as bonds and government securities. They are suitable for investors looking for stability and regular income.

Best for Stability and Regular Income:

Debt funds are ideal for investors saving for short-term goals or seeking a stable source of income.


Explore options like the Aditya Birla Sun Life PSU Equity Fund, known for its low expense ratio of 0.50% and steady returns.

Hybrid Funds (Balanced Funds)

Hybrid funds, also known as balanced funds, offer a combination of equity and debt components. They provide a balanced approach to investing, offering the benefits of both asset classes.

Best for Diversification and Moderate Risk:

Hybrid funds are suitable for investors seeking diversification and a moderate risk profile, offering the potential for growth while mitigating risk through fixed-income securities.


Consider the JM Equity Hybrid Fund, which provides a balanced approach to investing and aims to deliver consistent returns over time.

In conclusion, choosing the best mutual funds to invest in India in 2024 requires careful consideration of your financial goals, risk tolerance, and investment horizon. Whether you opt for equity funds, debt funds, or hybrid funds, ensure that your investment aligns with your objectives for long-term wealth creation and financial stability. Happy investing!

List of Top-Performing Funds (as per 3Y return)

Fund Category - Equity

  • Aditya Birla Sun Life PSU Equity Fund Direct-Growth : 48.50%
  • SBI PSU Direct Plan- Growth : 45.50%
  • ICICI Prudential Infrastructure Direct Growth : 43.77%
  • HDFC Infrastructure Direct Plan – Growth : 42.95%
  • Quant Infrastructure Fund Direct-Growth : 42.86%

Fund Category - Debt

  • Aditya Birla Sun Life Medium Term Plan-Growth : 12.99%
  • Bank of India Short-Term Income Fund Direct-Growth : 12.19%
  • UTI Credit Risk Fund Direct-Growth : 11.54%
  • UTI Dynamic Bond Fund Direct-Growth : 10.60%
  • Nippon India Strategic Debt Fund Direct-Growth : 9.75% 

Fund Category - Hybrid

  • Quant Multi Asset Fund Direct-Growth : 30.72%
  • ICICI Prudential Equity & Debt Fund Direct-Growth : 27.58%
  • HDFC Balanced Advantage Fund Direct Plan-Growth : 27.08%
  • JM Aggressive Hybrid Fund Direct-Growth : 26.38%

  • Bank Of India Mid & Small Cap Equity and Debt Fund Direct-Growth : 26.37% 

Disclaimer : This is for educational purposes only. Please do your own research before investments in market.

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