SIP Investment Best Plans in 2024

SIP Investment Best Plans in 2024

SIP, which is called Systematic Investment Plan, is a common way for people in India to donate to mutual funds. Using SIP, you put a set amount of money into a mutual fund plan on a regular basis, like once a month or three times a year. Compounding and rupee cost averaging work best when you make saving and spending a regular habit.

Seeking advice on how to pick the best SIP plans for your financial goals? Selecting the proper mutual fund from hundreds of schemes with varied characteristics and dangers might be difficult. My opinion will show you how to compare and pick the best SIP plans. and also, i give you a list of the top 10 SIP Investment Best Plans based on how well they’ve done in the past, how highly they’re rated, and how popular they are.

What are the best SIP plans for 2024?

i selected the top 10 SIP Investment Best Plans for 2024, here it is

Fund NameCategoryAUM (₹ Cr)Expense Ratio (%)Benchmark Index
Quant Active FundMulti Cap1,0901.98Nifty 500 TRI

Parag Parikh Flexi Cap Fund

Flexi Cap14,8251.22Nifty 500 TRI
Kotak Emerging Equity FundMid Cap12,9271.72Nifty Midcap 100 TRI
PGIM India Flexi Cap FundFlexi Cap2,6511.58Nifty Large Midcap 250 TRI
Canara Robeco Flexi Cap FundFlexi Cap3,2081.67Nifty 500 TRI
Axis Bluechip FundLarge Cap32,6751.59Nifty 50 TRI
Mirae Asset Emerging Bluechip FundLarge & Mid Cap29,2271.58Nifty Large Midcap 250 TRI
DSP Midcap FundMid Cap16,5561.69Nifty Midcap 150 TRI
SBI Focused Equity FundFocused31,5171.59S&P BSE 500 TRI
HDFC Hybrid Equity FundAggressive Hybrid22,2351.70Nifty 50 Hybrid Composite Debt 65:35 TRI

Note: this information is from February 2024. The returns are annualized. 

What are the factors to consider while choosing the SIP Investment Best Plans?

Things you should think about before you start SIP trading:

  1. Investing Goal: Be clear about why you are spending money, like to get rich, save for retirement, or pay for school. You can use this to pick a fund, a spending limit, and a time range.
  2. Also Check to see how at ease you are with risk. diffrent funds have different levels of risk. Choose a SIP plan that fits your level of risk and also avoid stress or losses that are not necessary.
  3. Range of Investment: Pick one how long you want to spend your money. Compounded goals benefit from market changes being less noticeable over time.
  4. Expected Cash Returns: Don not get too excited about your SIP results. They will depend upon how well the fund does, the market, and any fees that come with it. For a good choice, look at the results from the past, the starting point, and your peers.

How to compare and select the best SIP plans?

Once you’ve think about the things we will already talked about, use these things to compare the best SIP plans:

  1. you need to Check back in a year, three years, five years, and ten years to see how good the ideas worked. You need to See how much money they made, how much they earned each month, how much they earned each year, and how many risk factors affected their earnings. Plan that have not changed should be chosen over those that are not seemingly going as per planned.
  2. Views: Read the views of CRISIL, Value Research, Morningstar, and Moneycontrol. There are 4 factors that determine How good your plan is is based on four things: how well it works, how dangerous it is, how good it is, and how stable it is. Review scores for Plan A are low, while reviews for Plan B are good or positive.
  3. Use the assets under management (AUM), folios, and money coming in and going out to get an idea of how popular the plans are with buyers. Have a look at how AUM, page growth, and net losses can be measured. Plans with low or falling AUM, folios, or entries should not be chosen. Choose the ones that have a lot of numbers or growing numbers.

at the last, investing in mutual funds through SIPs is a smart and good way to meet your financial goals. But also be sure that the SIP plans you pick fit the way you like to spend and the requirements you have. What are you willing to risk, how much time do you have, and what do you want to get out of your investment Put the best SIP plans in order by how well they work, also how popular they are, and how many people have signed up for them. You can use the list of the top 10 SIP plans for 2024 as a help, but you should also do your own research before you buy.  

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