Best Mutual Funds for Salaried Individuals

Mutual fund investments can be a great method for salaried people to increase their wealth and meet their long-term financial objectives. But with so many mutual funds on the market, selecting the best one can be difficult. 

The best mutual fund for a salaried person to invest in will rely on a number of variables, including investment objectives, risk tolerance, and time horizon. The past performance of the fund, the expense ratio, and the reputation of the fund manager or asset management firm should also be taken into account. Salary earners should diversify their portfolios and avoid investing all of their funds in a single asset type. 

We have compiled a list of the best 5 to assist you in making an informed choice. To help you make an informed decision, we have compiled a list of the top 5 mutual funds for salaried individuals.

Best Mutual funds for Salaried Individuals – 2023

Mirae Asset Large Cap Fund

One of the top-performing mutual funds in the large-cap group is the Mirae Asset Large Cap Fund. This fund regularly provides its investors with positive returns over the years by investing in high-quality companies with a proven track record of earnings growth. In the previous three years, Mirae Asset Large Cap Fund was able to deliver an absolute return of 20.7% and an average return of 12.67%. It regularly outperformed its benchmark index and has a Morningstar rating of 5. The fund holds between 50 and 60 stocks in a diverse portfolio, with some of its top assets being HDFC Bank, Reliance Industries, and ICICI Bank.

Check out the Mirae Mutual Funds AMC Page

Axis Bluechip Fund

Another top-performing mutual fund that focuses on large-cap businesses is the Axis Bluechip Fund. This fund regularly outperformed its benchmark index over time, earning a 5-star rating from Morningstar. In the last three years, Axis Bluechip Fund has been able to deliver 9.84% absolute ROI and 6.82% annualised ROI. Its main holdings are firms like HDFC Bank, Infosys, and ICICI Bank, and it has a diversified portfolio of 35–40 stocks. Long-term investors in the fund have received positive returns thanks to the expertise of the fund managers.

Check out the Axis Mutual Funds AMC Page

SBI Bluechip Fund

The SBI Bluechip Fund is a large-cap fund that makes investments in top-notch, large-cap businesses with a proven track record of accelerating profits. This fund regularly outperformed its benchmark index over time, earning a 5-star rating from Morningstar. In the past three years, SBI Bluechip fund has produced returns of 24.93% in absolute terms and 15.03% in annualised terms. It holds 50–60 stocks in a diverse portfolio, with some of its top assets being Reliance Industries, HDFC Bank, and ICICI Bank.

Check out the SBI Mutual Funds AMC Page

HDFC Balanced Advantage Fund

A hybrid fund, the HDFC Balanced Advantage Fund invests in both stock and debt instruments. This fund has a 5-star rating from Morningstar and over the years, has reliably given investors positive returns. In the past three years, the HDFC Balanced Advantage fund has produced returns of 40.95 percent in real terms and 23.6 percent annually. Its top assets are firms like Reliance Industries, HDFC Bank, and ICICI Bank, and it has a well-diversified portfolio of stocks and bonds. Because of its cheap expense ratio and skilled fund managers, the fund appeals to salaried investors as an attractive investment choice.

Check out the HDFC Mutual Funds AMC Page

ICICI Prudential Equity & Debt Fund

Another hybrid fund that makes investments in a mix of stock and debt instruments is the ICICI Prudential Equity & Debt Fund. This fund regularly outperformed its benchmark index over time, earning a 5-star rating from Morningstar. In the past three years, ICICI Prudential Equity & Debt Fund has produced returns of 22.05% average and 37.89% absolute. Its top holdings are firms like HDFC Bank, Reliance Industries, and ICICI Bank, and it has a well-diversified mix of stocks and bonds.

Also read: Best Investment Options for Salaried Person in India 2023

Conclusion

In conclusion, selecting the ideal mutual fund can be difficult, but by taking into account aspects like investment objectives, risk tolerance, and prior performance, you can make a wise choice. Salaried people seeking to invest in mutual funds may want to think about the aforementioned mutual funds because they have a track record of providing good returns to their investors. Before making any investment choices, it is always advisable to speak with a financial advisor. Now that you have learned about Mutual Funds, open Demat account with Angel One and start building your wealth.

Disclaimer – This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.