SIP mutual funds have been witnessing continuous growth, with more and more retail investors entering the market to raise their income. According to the latest Geojit report, mutual fund SIPs registered Rs 20,371 crore inflows in April, which is the 10th month of inflows above Rs 15,000 crore and 32nd month of inflows above Rs 10,000 crore in a row. Here’re the top-5 equity mutual funds that have given the highest return in the past year.
Top-5 Mutual Funds
SBI PSU Direct Plan Growth (99.5% Return): This thematic equity mutual fund comes with ‘Very High Risk’ rating. In the past one year between May 2023 and May 2024, the fund has given 99.50 per cent return. Its current net asset value (NAV) stands at Rs 34.50 a unit. The fund size is Rs 2,352.22 crore. Investors can start their SIP with Rs 500 a month in the mutual fund.
Aditya Birla Sun Life PSU Equity Fund Direct Growth (96.2% Return): This thematic equity mutual fund also comes with ‘Very High Risk’ rating. In the past one year between May 2023 and May 2024, the fund has given 96.2 per cent return. Its current net asset value (NAV) stands at Rs 36.94 a unit. The fund size is Rs 4,115.15 crore. Investors can start their SIP with just Rs 100 a month in the mutual fund.
Invesco India PSU Equity Fund Direct Growth (94.3% Return): This thematic equity mutual fund too comes with ‘Very High Risk’ rating. In the past one year between May 2023 and May 2024, the fund has given 94.3 per cent return. Its current net asset value (NAV) stands at Rs 72.56 a unit. The fund size is Rs 956.83 crore. Investors can start their SIP with Rs 500 a month in this mutual fund.
Nippon India Power & Infra Fund Direct Growth (82% Return): This thematic equity mutual fund also comes with ‘Very High Risk’ rating. In the past one year between May 2023 and May 2024, the fund has given 82 per cent return. Its current net asset value (NAV) stands at Rs 366.73 a unit. The fund size is Rs 5,043.02 crore. Investors can start their SIP with just Rs 100 a month in this mutual fund.
Quant Infrastructure Fund Direct Growth (80.6% Return): This thematic equity mutual fund also comes with ‘Very High Risk’ rating. In the past one year between May 2023 and May 2024, the fund has given 80.6 per cent return. Its current net asset value (NAV) stands at Rs 44.07 a unit. The fund size is Rs 3,187.60 crore. Investors can start their SIP with Rs 1,000 a month in this mutual fund.
In April 2024, Average SIP size is estimated at Rs 2,340 per SIP, which is higher by 9.6 per cent as compared to last year. Though investors are investing MF through SIP, cancellation is also high. The SIP cancellation ratio stayed at 52.2 per cent, higher than the near 6M average of 49.8 per cent, according to the Geojit report.
The MF industry’s total AUM climbed to Rs 57.3 lakh crore, a new high by month-end reporting, up Rs 3.86 lakh crore or 7.2 per cent MoM and up 76.8 per ent YoY. Average AUM for the month was at Rs 57 lakh crore, up 2 lakh crore, a new high, it added.
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