As 2024 approaches, investors reflect on the performance of equity mutual funds that have delivered consistent returns. With market volatility, economic changes, and geopolitical shifts, picking the right fund was impossible. However, some equity mutual funds stood out for their superior performance, risk-adjusted returns, and resilience.
Here, we present the top 10 equity mutual funds of 2024, focusing on large-cap, mid-cap, and multi-cap categories that have captured investors’ attention.
Axis Bluechip Fund
Category: Large-Cap Equity Fund
1-Year Return: 18.5%
Expense Ratio: 0.47%
The Axis Bluechip Fund continues to maintain its position as a top performer in the large-cap category. Known for its disciplined stock-picking approach, it focuses on high-quality companies with strong growth potential. The fund’s low expense ratio and consistent returns make it a favorite for conservative investors seeking stability and long-term growth.
SBI Small Cap Fund
Category: Small-Cap Equity Fund
1-Year Return: 25.8%
Expense Ratio: 0.72%
The SBI Small Cap Fund delivered stellar returns in 2024 for those looking for higher growth potential. This fund’s focus on emerging small-cap companies with robust growth potential has yielded impressive results. While it carries higher risk due to its exposure to smaller firms, the returns have been well worth it for those with a high-risk appetite.
ICICI Prudential Bluechip Fund
Category: Large-Cap Equity Fund
1-Year Return: 16.7%
Expense Ratio: 0.48%
ICICI Prudential Bluechip Fund is a reliable choice for those seeking steady returns from large-cap stocks. It follows a bottom-up stock-picking strategy and has a strong track record of navigating market volatility. The fund’s diversified portfolio across sectors ensures risk mitigation and steady growth.
HDFC Flexi Cap Fund
Category: Flexi-Cap Equity Fund
1-Year Return: 22.1%
Expense Ratio: 0.65%
HDFC Flexi Cap Fund offers exposure to large, mid, and small-cap stocks as a flexible-cap fund. This diversified approach gives it an edge in volatile markets. In 2024, the fund’s dynamic allocation strategy yielded above-average returns. It’s a good pick for investors seeking exposure to various market capitalizations.
Mirae Asset Emerging Bluechip Fund
Category: Large & Mid-Cap Equity Fund
1-Year Return: 23.4%
Expense Ratio: 0.72%
Mirae Asset Emerging Bluechip Fund offers stability and growth through dual exposure to large and mid-cap stocks. This fund has consistently outperformed the market by focusing on quality mid-cap stocks poised for growth. Its strategy of maintaining a balance between large-cap stability and mid-cap growth paid off in 2024.
Kotak Emerging Equity Fund
Category: Mid-Cap Equity Fund
1-Year Return: 21.5%
Expense Ratio: 0.74%
Kotak Emerging Equity Fund is a prominent name in the mid-cap space. The fund’s focus on identifying early growth opportunities in mid-cap stocks has resulted in exceptional returns. Its research-driven approach and timely sector allocation helped it stay ahead of its peers in 2024.
UTI Flexi Cap Fund
Category: Flexi-Cap Equity Fund
1-Year Return: 20.9%
Expense Ratio: 0.58%
UTI Flexi Cap Fund’s exposure to large, mid, and small-cap stocks gives it a diversified edge. The fund’s dynamic allocation strategy allows it to capitalize on opportunities in different market segments. In 2024, it outperformed its peers with balanced sectoral allocation and firm stock-picking decisions.
Nippon India Small Cap Fund
Category: Small-Cap Equity Fund
1-Year Return: 28.2%
Expense Ratio: 0.86%
Nippon India Small Cap Fund is one of the top-performing small-cap funds of 2024. The fund tapped into opportunities in emerging sectors by focusing on high-growth small-cap stocks. The small-cap segment’s high volatility requires patience, but this fund’s stellar returns have rewarded long-term investors.
Canara Robeco Bluechip Equity Fund
Category: Large-Cap Equity Fund
1-Year Return: 17.9%
Expense Ratio: 0.49%
Canara Robeco Bluechip Equity Fund’s focus on top-tier large-cap companies has consistently produced stable returns. Its strategic sectoral allocation and low expense ratio appeal to those seeking predictable growth with lower risk. The fund’s returns in 2024 aligned with market expectations, keeping it on investors’ radar.
Edelweiss Mid Cap Fund
Category: Mid-Cap Equity Fund
1-Year Return: 24.6%
Expense Ratio: 0.69%
Edelweiss Mid Cap Fund’s robust portfolio of mid-cap growth companies made it one of the top performers 2024. Its sectoral bets in fast-growing industries like technology, manufacturing, and consumer goods paid off well. This fund is ideal for investors looking to balance growth and moderate risk.
How to Choose the Right Equity Mutual Fund
Selecting the right mutual fund requires evaluating factors such as:
- Risk Appetite: Identify your risk tolerance (low, medium, or high) and select funds accordingly.
- Investment Goals: Long-term goals like retirement planning may require a mix of large-cap and flexi-cap funds.
- Fund Performance: While past performance does not guarantee future returns, it’s a good starting point to evaluate a fund’s consistency.
- Expense Ratio: Lower expense ratios are preferred as they reduce the impact on returns.
- Diversification: Diversification reduces risk. Flexi-cap and multi-cap funds offer exposure across market capitalizations.
Conclusion
The top 10 equity mutual funds of 2024 showcased strong performance, with many of them leveraging sectoral growth, mid-cap opportunities, and disciplined stock picking. From large-cap stability to small-cap growth, these funds catered to various investor profiles and risk appetites. As 2025 approaches, investors should review their financial goals and consider adding some of these top-performing funds to their portfolios for diversified, long-term wealth creation.