Which Bluechip Mutual Funds Should You Invest In 2024?
Introduction
Mutual funds give you the chance to invest in a variety of stocks, securities, or bonds. They are managed by fund managers who assist in money distribution in the fund’s portfolio.
Mutual funds come in different categories – debt, hybrid, or equity. Equity mutual funds invest in equity securities and carry a high-risk factor. Bluechip funds are a type of equity mutual fund that invests in the stocks of well-established and top-performing businesses.
What are bluechip funds?
Bluechip funds invest in financially sound, prominent businesses recognised for consistent success. Their market capitalisation is over Rs. 20,000 crores. Most investors are attracted to bluechip funds to create a strong portfolio and beat inflation. The funds are ideal picks for those with a long-term investment horizon of five years or more and who desire steady and reliable growth.
Bluechip funds you can’t miss out on in 2024
- ICICI Prudential Bluechip Fund – Growth
ICICI Prudential Bluechip Fund is ideal for investors who want to invest money for at least 3-4 years and seek high returns. However, these investors must also be prepared to suffer moderate losses from their investments. The fund invests 91.35% in domestic equities, 0.21% in debt, and 0.21% in Government securities.
As of April 26, 2024, the fund’s net asset value (NAV) was Rs. 96.98, down by 0.16%. Its expense ratio and assets under management (AUM), as declared on March 31, 2024, were 1.45% and Rs. 53,505.33 crore, respectively.
- SBI Bluechip Fund – Growth
SBI Bluechip Fund is an open-ended equity scheme primarily investing in large-cap stocks. Its date of allotment was February 14, 2006. It has given 12.15% returns since inception. You can start a Systematic Investment Plan (SIP) in the SBI Bluechip Fund with as little as Rs. 500 or a minimum lump sum of Rs. 5,000.
As of April 26, 2024, SBI Bluechip Fund had a NAV of Rs. 80.41, down by 0.57%. As of March 31, 2024, the annual expense ratio was 1.54%. The fund’s size was Rs. 44,819.48 crore.
- HDFC Top 100 Fund
The HDFC Top 100 Fund aims to offer long-term capital appreciation to investors. As defined by the Securities and Exchange Board of India (SEBI), it maintains an exposure of at least 80% to large-cap stocks, which comprise India’s 100 largest companies in market capitalisation. Out of its 96.35% investment in domestic equities, 79.92% are in large-cap stocks and 5.31% in mid-cap stocks.
HDFC Top 100 Fund’s NAV as of April 26, 2024, was Rs. 1,035.84, down by 0.43%. It declared a fund size of Rs. 32,355.19 crore and an expense ratio of 1.63% as of March 31, 2024.
- Axis Bluechip Fund – Growth
You can beat inflation by investing in Axis Bluechip Fund for a period of five years or more. The scheme invests in big companies, such as ICICI Bank, Reliance Industries, Bajaj Finance, HDFC Bank, Avenue Supermarts, etc.
Axis Bluechip Fund had an expense ratio of 1.57% and AUM worth Rs. 33,523.02 crore as of March 31, 2024. Its NAV was Rs. 54.45 at the end of April 26, 2024.
- Kotak Bluechip Fund – Growth
Kotak Bluechip Fund was established on January 1, 2013. Its average returns since inception are 33.03%. Its sector allocation is 20.89% to banks, 10.66% to IT – Software, 7.3% to automobiles, 6.85% to petroleum products, and so on.
As of March 31, 2024, Kotak Bluechip Fund’s AUM was worth Rs. 7,901.40 crore. Its NAV, as of April 26, 2024, was Rs. 498.20.
Summing up
Bluechip companies can tolerate market downturns and earn profits even during challenging times. They are less volatile and risky than other types of equity funds. You can consider investing in bluechip funds regardless of whether you’re beginning your wealth creation journey or are a seasoned investor. The funds mentioned above are attached to the solid foundation of bluechip stocks and give investors a pathway to reliability and consistency.
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