SIP mutual funds continue to see growth with more and more individual investors entering the market to increase their returns. According to the latest Geojit report, mutual fund SIPs recorded inflows of Rs 20,371 crore in April, the 10th month in a row with inflows exceeding Rs 15,000 crore and the 32nd month in a row with inflows exceeding Rs 10,000 crore. The top five equity mutual funds with the highest returns over the past year are:
Top 5 Mutual Funds
SBI PSU Direct Planned Growth (99.5% return): This thematic equity mutual fund is rated 'Very High'. Over the past year from May 2023 to May 2024, the fund returned 99.50%. The current net asset value (NAV) is Rs 34.50 per unit. The fund size is Rs 2,352.22 crore. Investors can start an SIP with as little as Rs 500 per month in mutual funds.
Aditya Birla Sun Life PSU Equity Fund Direct Growth (96.2% return): This thematic equity mutual fund also comes with a ‘Very High’ rating. Over the past year from May 2023 to May 2024, the fund returned 96.2%. The current net asset value (NAV) is Rs 36.94 per unit. The fund size is Rs 4,115.15 crore. Investors can start an SIP with just Rs 1 million per month in mutual funds.
Invesco India PSU Equity Fund Direct Growth (94.3% return): This thematic equity mutual fund is also rated 'Very High'. Over the past year from May 2023 to May 2024, the fund returned 94.3%. The current net asset value (NAV) is Rs 72.56 per unit. The fund size is 95.683 billion rupees. Investors can start an SIP with as little as Rs 500 per month in this mutual fund.
Nippon India Power & Infra Fund Direct Growth (82% return): This thematic equity mutual fund also comes with a ‘Very High’ rating. Over the past year from May 2023 to May 2024, the fund returned 82%. The current net asset value (NAV) is Rs 366.73 per unit. The fund size is Rs 5,043.02 crore. Investors can start an SIP with just Rs 1 million per month in this mutual fund.
Quant Infrastructure Fund Direct Growth (80.6% return): This thematic equity mutual fund also comes with a ‘Very High’ rating. Over the past year from May 2023 to May 2024, the fund returned 80.6%. The current net asset value (NAV) is Rs 44.07 per unit. The fund size is ₹318.76 billion. Investors can start an SIP with as little as Rs 1,000 per month in this mutual fund.
The average SIP size in April 2024 is estimated at Rs 2,340 per SIP, which is a 9.6% increase over last year. Investors are investing in MFs through SIPs, but the cancellation rate is also high. According to a Geojit report, the SIP cancellation rate was 52.2%, higher than the six-month average of 49.8%.
The total AUM of the MF industry hit a new high at Rs 57.3 lakh crore as reported at month-end, up Rs 3.86 lakh crore or 7.2% MoM and 76.8% YoY. Average AUM this month rose by 2 lakh crore to Rs 57 lakh crore, hitting a new high.