When considering long-term investments, the stock market might be intimidating. However, it can be an effective instrument for increasing your wealth if you use the appropriate approach. Selecting the top mutual funds for 2024 is essential if you plan to invest in the best mutual funds next 10 years. We’ll look at the best mutual funds next 10 years in this post that have the potential to make you wealthy over the next ten years. We will carefully examine their investing goals, performance histories, and costs so you can decide which ones are best for you.
What is a Mutual Fund?
A mutual fund, which is an investment vehicle that can be used to buy stocks, bonds, and other securities, is a pooled collection of assets. Mutual funds are a popular choice among investors in place of individual stocks when it comes to portfolio management. Mutual fund management can be done actively or passively. In an attempt to beat the market, fund managers actively manage their portfolios by strategically buying and selling securities to optimize returns.
List of Best Mutual Funds Next 10 Years
Mirae Asset Large Cap Fund
The Mirae Asset Large Cap Fund stands out among the best mutual funds next 10 years & a top-performing open-ended equities mutual fund because it focuses only on large-cap firms. It is managed by Neelesh Surana under the Mirae Asset Mutual Fund and has a ten-year track record as the best SIP plan. As of October 21, 2023, its Net Asset Value (NAV) was Rs. 97.34, demonstrating its stability and growth potential, which makes it a preferred choice for cautious investors.
| Year | Return |
| Since inception | 15.01% |
| 1 year | 15.10% |
| 3 year | 17.95% |
| 5 year | 13.79% |
Mirae Asset Large Cap Fund- Best Mutual Funds Next 10 Years
ICICI Prudential Bluechip Fund
The ICICI Prudential Bluechip Fund, the premium open-ended equities mutual fund that ICICI Pru Mutual Fund offers, is managed by Manish Gunwani. The fund offers both regular and direct plans, with appealing spending criteria of 1.58% for regular schemes and 1.01% for direct plans. All investor tiers are welcome to invest, with a minimum of Rs. 500.
| Year | Returns |
| Since Launch | 14.43% |
| 1 year | 18.49% |
| 3 years | 23.63% |
| 5 years | 15.28% |
ICICI Prudential Bluechip Fund- Best Mutual Funds Next 10 Years
HDFC Small Cap Fund
One of the top open-ended equity mutual funds for small-cap stocks is the HDFC Small Cap Fund, managed by Chirag Setalvad and under the HDFC Mutual Fund umbrella. it is one of the best mutual funds next 10 years. Investors have options with competitive expense ratios offered by both regular and direct programs (1.30% for regular schemes and 0.75% for direct plans). Its Net Asset Value (NAV) of Rs. 118.84 as of October 21, 2023, attests to both its stability and potential for profitable expansion.
| Year | Returns |
| Since Inception | 22.34% |
| 1 year | 34.23% |
| 3 year | 28.95% |
| 5 year | 26.12% |
HDFC Small Cap Fund- Best Mutual Funds Next 10 Years
DSP Small Cap Fund
The small-cap gem provided by DSP Mutual Fund has consistently beaten its benchmark index, the S&P BSE SmallCap Total Return Index, over a variety of periods. With a 500 rupee minimum commitment, it suits a variety of investor profiles. Investors seeking high-performing small-cap assets choose this fund because of its established history of development and consistency.
| Year | Returns |
| Since Inception | 17.82% |
| 1 year | 31.11% |
| 3 years | 36.11% |
| 5 years | 24.27% |
DSP Small Cap Fund- Best Mutual Funds Next 10 Years
ICICI Prudential MidCap Fund
The ICICI Pru Mutual Fund, managed by Prashant Prabhakar, offers clients seeking diversified long-term investing options that are exemplary. The fund offers competitive expense rates for both its direct and regular plans: 1.95% for direct plans and 2.50% for regular plans. A modest initial investment of Rs. 500 ensures that a wide spectrum of investors can participate. This fund is a solid option for long-term wealth growth and diversification because it has been providing the best SIP strategy for ten years.
| Year | Returns |
| Since inception | 16.95% |
| 1 year | 18.83% |
| 3 year | 28.43% |
| 5 year | 16.96% |
ICICI Prudential MidCap Fund- Best Mutual Funds Next 10 Years
Aditya Birla Sun Life Government Securities Fund
Aditya Birla Sun Life Government Securities Fund is a smart choice for investors with a low-risk tolerance because it provides exposure to government assets inside an open-ended debt scheme. The fund, which will be managed by Mahendra Jajoo, offers stability and potential rewards. With competitive expense ratios of 1.11% for regular plans and 0.46% for direct plans, it ensures cost-effectiveness. This prestigious product provides investors looking for low-risk, steady returns with comfort.
| Year | Returns |
| 1 year | 7.09% |
| 3 year | 4.40% |
| 5 year | 8.15% |
Aditya Birla Sun Life Government Securities Fund- Best Mutual Funds Next 10 Years
ICICI Prudential Gilt Fund
One of the best mutual funds next 10 years in the list of open-ended debt mutual funds is the ICICI Prudential Gilt Fund, which exposes investors to government assets. Its consistent outperformance throughout a range of periods, under the direction of R. Sivakumar, over its benchmark index, the CRISIL Gilt Index, has made it the best mutual fund for the past ten years. The fund’s open-ended debt strategy provides stability as well as growth potential. Investors benefit from competitive expenditure rates, which are 0.56% for direct and 1.09% for regular programs.
| Year | Returns |
| 1 year | 7.25% |
| 3 year | 4.61% |
| 5 year | 8.32% |
ICICI Prudential Gilt Fund- Best Mutual Funds Next 10 Years
HDFC Dynamic Debt Fund
Among open-ended dynamic bond mutual funds, the HDFC Dynamic Debt Fund, managed by HDFC Mutual Fund, is a top option. Acknowledged for its innovative methodology, it has reliably produced returns surpassing average and cemented its standing as the finest SIP plan for a decade. It is a favorable option for investors who wish to have exposure to dynamic debt because it shows stability and strong return potential when compared to the CRISIL Dynamic Bond B-III Index.
| Year | Returns |
| 1 year | 7.29% |
| 3 year | 10.38% |
| 5 year | 11.43% |
| 10 year | 12.51% |
HDFC Dynamic Debt Fund- Best Mutual Funds Next 10 Years
HDFC Income Fund
The HDFC Income Fund (IDCW), an open-ended debt mutual fund, stands out from the competition because it focuses on the money market and debt instruments to generate income. For the last 10 years, this fund has been recognized as the best SIP plan because of its persistent commitment to steady, long-term performance. The goal of the India Fund Medium to Long Duration class, which includes the HDFC Income Fund, is to generate income with a medium to high level of risk management.
| Year | Returns |
| 1 year | 9.50% |
| 3 year | 12.50% |
| 5 year | 14.30% |
HDFC Income Fund- Best Mutual Funds Next 10 Years
Aditya Birla Sun Life Banking and PSU Debt Fund
To maintain a stable and broad portfolio, this fund primarily invests in debt and money market instruments issued by public financial institutions, PSUs, and banks. Since its launch on May 9, 2008, Aditya Birla Sun Life Banking and PSU Debt Fund has shown to be a stable force in the market. In a time when stability and astute investing strategies are essential, this fund stands out for its emphasis on high-quality assets issued by banking and PSU institutions, making it a favorite among investors seeking dependable returns and little risk exposure.
| Year | Returns |
| 1 year | 6.76% |
| 3 years | 4.74% |
| 5 years | 7.13% |
Aditya Birla Sun Life Banking and PSU Debt Fund- Best Mutual Funds Next 10 Years
Benefits of Investing in a SIP for 10 Years
There are still several good reasons to invest in a systematic financing plan (SIP) in 2024, even in light of shifting financial and economic conditions. Some major benefits of SIP investing over ten years are as follows:
- Rupee Cost Averaging: SIP asks for daily, monthly, yearly, or ten-year installments of a certain sum. Buying more devices when fees are low and fewer devices when fees are high allows you to consistently lower the not-unusual fee consistent with the unit.
- Discipline in investing: This investment enables the investor to distribute money systematically. This type of financing makes one reliant on consistent investing, which creates more chances for improved prospects down the road.
- Impact of Compounding: Ten years later, the compounding effect becomes apparent. Because of the possibility for even bigger profits, the benefits your property offers could grow exponentially as it expands.
- Flexibility and Accessibility: Several SIP programs allow for variable financing quantities. Reductions, eliminations, or even improvements in your SIP expenses can be possible depending on changes in your financial situation.
- Diverse portfolio: By using SIPs, you may spread out your investments over a variety of asset classes, market cycles, and fund kinds. This diversification will probably increase average profits while reducing risk.
- Benefits of Taxation: Under Section 80C of the Income Tax Act, Positive SIP plans and Equity-Linked Savings Schemes (ELSS) jointly offer tax benefits that allow you to save money on taxes while you invest. This is the best investment to make: the ELSS mutual fund.
Conclusion
In 2024, the long-term investing landscape strongly argues for active participation in the stock market, particularly via mutual funds. Selecting the best mutual funds next 10 years carefully is essential for investors seeking steady growth and stability. The tax benefits offered by some SIP plans—most notably ELSS mutual funds—will make the investment opportunity even more appealing to prudent people trying to optimize their financial portfolios. With mutual funds, investors may secure their financial future by confidently navigating the choppy market environment and balancing the right quantities of discipline, diversity, and foresight.
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