Systematic Investment Plans (SIPs) are gaining popularity, or, to be accurate, they have always been popular among investors, from beginners to veterans, for their ability to secure a better financial future. But what are these investments?
A Systematic Investment Plan is a user-friendly avenue for investing a fixed amount in mutual funds at periodic intervals. The flexibility of choosing the investing frequency—be it weekly, monthly, quarterly, or annually—adds to its appeal.
With just Rs. 10,000 a month, SIPs offer the potential to build a substantial financial reservoir over time. So, we have come up with the top 10,000 Monthly SIP Plans that you must consider in 2024 to start building your wealth.
Let’s dive in!
Top 10 SIP plans for 10,000 rupees per month in 2024
SIPs operate on fundamental principles that help investors build wealth effectively. Starting early ensures financial stability during the investment period, while committing to a long term, around 10 to 20 years, maximizes returns.
Different SIP plans offer various returns, allowing investors to choose the ones that best suit their financial goals and risk tolerance. Here are the top 10 SIPs for 10,000 Monthy investments:
Mutual Fund | Risk Involved | AUM (₹ Crs) | Returns (%) | Minimum SIP |
Parag Parikh Flexi Cap Fund | Very High | 55,034 | 26.23 | ₹1000 |
Edelweiss Large & Mid Cap Fund | Very High | 2,734 | 23.89 | ₹500 |
Kotak Equity Opportunities Fund | Very High | 18,315 | 23.50 | ₹500 |
Canara Robeco Emerging Equities Fund | Very High | 19,902 | 20.84 | ₹1000 |
Motilal Oswal Focused Fund | Very High | 1,842 | 15.37 | ₹500 |
PGIM India Flexi Cap Fund | Very High | 5,928 | 21.34 | ₹1000 |
Mirae Asset Large & Midcap Fund | Very High | 33,295 | 23.09 | ₹1000 |
Quant Focused Fund | Very High | 19,902 | 28.48 | ₹1000 |
DSP Flexi Cap Fund | Very High | 10,081 | 20.13 | ₹500 |
Sundaram Focused Fund | Very High | 992 | 20.11 | ₹100 |
1. Parag Parikh Flexi Cap Fund
At number one, the Parag Parikh Flexi Cap Fund make it to the list of 10000 SIPs for 5 years. With an age of 10 years and 9 months since May 13, 2013, This plan carries a very high-risk profile. This fund, managed by PPFAS Mutual Fund, commands an impressive ₹55,034 Crs in Assets Under Management (AUM). Notably, it has delivered commendable returns at an annual rate of 26.23%.
2. Edelweiss Large & Mid Cap Fund
The Edelweiss Large & Mid Cap Direct Plan-Growth, managed by Edelweiss Mutual Fund, has an impressive 23.89% annual return rate. With an age of 11 years and 1 month, this large and mid-Cap mutual fund scheme operates with a very high-risk profile, boasting Assets Under Management of ₹2,734 Crs.
3. Kotak Equity Opportunities Fund
The Kotak Mahindra Mutual Fund is in charge of the Kotak Equity Opportunities Fund, which boasts an astounding 23.50% yearly return rate. This 11-year and 1-month-old large and mid-cap mutual fund scheme, which has an AUM of ₹18,315 Crs, has an extremely high-risk profile.
4. Canara Robeco Emerging Equities Fund
With a very high-risk profile, the Canara Robeco Emerging Equities Fund has been around for 11 years and 1 month since January 1, 2013. This fund is a must-have 10000 SIP for 20 years and has an impressive AUM of ₹19,902 Crs. It is managed by Canara Robeco Mutual Fund. Furthermore, at an annual rate of 20.84%, it has produced excellent returns.
5. Motilal Oswal Focused Fund
Launched on April 22, 2013, the Motilal Oswal Focused Fund has existed for more than a decade and a half. It has a very high-risk profile and is managed by Motilal Oswal Mutual Fund. This fund has an Assets Under Management of ₹1,842 Crs. It has also generated outstanding returns at an annual rate of 15.37%.
6. PGIM India Flexi Cap Fund
The PGIM India Mutual Fund, which has an incredible yearly return record of 21.34%, is managed by the PGIM India Flexi Cap Fund. With an AUM of ₹5,928 Crs, this nine-year-old Flexi Cap mutual fund plan has a high-risk profile.
7. Mirae Asset Large & Midcap Fund
The Mirae Asset Large & Midcap Fund has an outstanding annual return of 23.09%. This plan is one of the top 10000 SIPs for 5 years and is managed by the Mirae Asset Mutual Fund. This 11-year Large & Midcap mutual fund plan has a high-risk profile with an AUM of ₹33,295 Crs.
8. Quant Focused Fund
The Quant Focused Fund has been around for more than 11 years since January 2013. Even though it comes with higher risk, it has an impressive ₹19,902 Crores in Assets Under Management. Managed by Quant Mutual Fund, this focused mutual fund has delivered strong returns, boasting an annual rate of 28.48%.
9. DSP Flexi Cap Fund
The DSP Flexi Cap Fund stands out as an excellent choice for a SIP investment of ₹10,000 per month over a 10-year period. With a track record spanning over 11 years, this fund, managed by DSP Mutual Fund, has a remarkable Assets Under Management of ₹10,081 Crores. Despite its high-risk profile, the fund has delivered amazing returns, achieving an annual rate of 20.13%.
10. Sundaram Focused Fund
Sundaram Focused Fund is another one of the top 10000 SIP for 5 years. It has delivered significant returns to its investors, with an annual rate of 20.11%. The fund is managed by Sundaram Mutual Fund, and it is 11 years old, like many others on the list. This Focused Fund has a high-risk profile, but it also has ₹992 Crores worth of assets under management.
Final Words
When considering a monthly investment of ₹10,000 in 2024 for over a 10-year period, it’s important to pick the right Systematic Investment Plan (SIP). Thankfully, several options with different risk levels and good track records are available in the market.
However, before choosing an SIP, think about how you want to build your wealth, the amount of risk you’re comfortable with, and for how long you plan to invest.
The list in this blog gives you an overview of some top SIPs, but it’s important to do your own research and, if needed, consult reliable financial experts for advice.
