Top Equity Mutual Funds In India 2023

Have you ever thought of early retirement? Or are you planning to buy a car or go on an international trip soon? Then why not make your money work for you by investing it and fulfilling your goals sooner? Now, you must think investing in shares can be risky because you don’t know much about shares. Don’t worry. Start by mutual fund investment with your hard-earned money. You’ll be making a smart decision if you invest in top equity mutual funds in the country. These investments will help you build wealth by beating the inflation rate in the long run. But, first ensure that they’re profitable and working well in the market.  Before we reveal the best mutual funds to invest in India, let’s explain how they work. You’ll be able to make a better decision this way. 

How do Mutual Funds Work?  

A mutual fund is an investment in which plenty of investors pool their money. It is a collective fund of several investors. They buy financial instruments like stocks and bonds. The pooled money is further invested in many companies. As one of the investors, you’re entitled to all the profits and losses made with the help of that mutual fund. The money will go into stocks when investing in top equity mutual funds. But consider giving your investment at least 5-7 years for capital appreciation. 

Factors to Consider for Mutual Fund Investment  

While choosing the best mutual funds, there are some factors that you need to consider. These are:

• Performance of the Fund: 

Check how well the particular mutual fund has performed in the last 3-5 years. It should be consistent and meet its objectives.   

• Net Asset Value: 

Consider a scheme that has a reasonable market value per unit. Expensive funds can also give lower returns. Funds having a lower cost might have more growth opportunities.  

• Expense Ratio: 

Check that a professional mutual fund manager charges a 1%-2.25% margin only. According to SEBI guidelines, 2.25% is the largest percentage that can be charged.  

•   Exit Fee: 

Some funds may charge you if you withdraw your investment at a premature stage. Do check that before confirming your investment withdrawal.  

• Investments Under Management: 

Check if a mutual fund scheme already has too many internal investors. Investing in mutual funds of such companies could become hard.  

• Professional Experience: 

The fund manager must be experienced enough in the industry to guide you in the right direction.   

Top Equity Mutual Funds of 2023  

Now that you have a basic idea of what to investigate, let’s take a look at some of the best mutual funds to invest in:  

• Canara Robeco Bluechip Equity Fund:

Minimum Investment: ₹ 5,000

NAV as on 5th May 2023: Rs. 42.29 

Return in the Last 10 Years:  14.65%

Expense Ratio: 0.42%

Exit Fee: 1% if redeemed within a year

• SBI Bluechip Fund:

Minimum Investment: ₹ 5,000

NAV as on 5th May 2023: ₹ 65.1677

Return in the Last 10 Years: 14.54%

Expense Ratio: 1.59%

Exit Fee: 1% if redeemed within a year

• UTI Nifty 50 Index Fund:

Minimum Investment: ₹ 5,000  

NAV as on 5th May 2023: ₹ 121.4488 

Return in the Last 10 Years: 12.63%

Expense Ratio: 0.3%

Exit Fee: 0%

•  HDFC Index Nifty 50 fund:

Minimum Investment: ₹ 5,000  

NAV as on 5th May 2023: ₹ 167.847

Return in the Last 10 Years: 12.60%

Expense Ratio: 0.4%

Exit Fee: 0.25%

• UTI Mastershare Unit:

Minimum Investment: ₹ 5,000  

NAV as on 5th May 2023: ₹ 191.8109

Return in the Last 10 Years: 12.74%

Expense Ratio: 1.71%

Exit Fee:  1% if redeemed within a year

• DSP Nifty 50 Equal Weight Index Fund:

Minimum Investment: ₹ 5,000 

NAV as on 5th May 2023: ₹ 16.5755

Return in the Last 10 Years: 8.46%

Expense Ratio: 0.88%

Exit Fee: 0%

• ICICI Prudential Bluechip Fund:

Minimum Investment: ₹ 5,000  

NAV as on 5th May 2023: ₹ 69.85

Return in the Last 10 Years: 14:30%

Expense Ratio: 1.63%

Exit Fee: 1% if redeemed within a year

• Kotak Bluechip fund:

Minimum Investment: ₹ 5,000

NAV as on 5th May 2023: ₹ 384.84

Return in the Last 10 Years: 13.14%

Expense Ratio: 1.8%

Exit Fee:  1% if redeemed within a year

• Nippon India Large Cap Fund:

Minimum Investment: ₹ 100

NAV as on 5th May 2023: ₹ 56.8551

Return in the Last 10 Years: 14.96%

Expense Ratio: 1.78%

Exit Fee: 1% if redeemed within a year

• ICICI Prudential Nifty 50 Index Plan:

Minimum Investment:  ₹ 5,000

NAV as on 5th May 2023: ₹ 178.0889

Return in the Last 10 Years: 12.58%

Expense Ratio: 0.34%

Exit Fee: 0%

• IDBI India Top 100 Equity Fund (Growth):

Minimum Investment:  ₹ 5,000

NAV as on 5th May 2023: ₹ 40.49

Return in the Last 10 Years: 13.6

Expense Ratio: 2.42%

Exit Fee: 1% if redeemed within a year

• Aditya Birla Sun Life Frontline Equity Fund:

Minimum Investment: ₹ 5,000

NAV as on 5th May 2023: ₹ 350.63

Return in the Last 10 Years: 13:38

Expense Ratio: 1.57%

Exit Fee: 1% if redeemed within a year

• Nippon India Index S&P BSE Fund Sensex Plan:

Minimum Investment:  ₹ 5,000

NAV as on 5th May 2023: ₹ 30.47

Return in the Last 10 Years: 12.44%

Expense Ratio: 0.75%

Exit Fee: 0.25%

• Tata Nifty 50 Index Fund:

Minimum Investment:  ₹ 5,000

NAV as on 5th May 2023: ₹ 110.6274

Return in the Last 10 Years: 12.32%

Expense Ratio: 0.52%

Exit Fee: 0.25%

Which One Will You Go For?  

We’ve listed some of the best mutual funds to invest in. But, before you go for your mutual fund investment, you must go through its performance in detail. Also, do keep in mind your budget and long-term goals. Don’t choose something for being on the list of top equity mutual funds.  

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