Investors can have exposure to a wide variety of firms in the big, mid, and small size market capitalization divisions through multicap funds. By diversifying, this aids in risk mitigation.
Based on their historical performance and portfolio, we’ll examine five best multicap funds in this post that investors may want to think about investing in for 2024.
1. HDFC Equity Fund
One of the biggest and best-performing multicap funds in India is the HDFC Equity Fund. Over the past ten years, the fund has produced an annualized return of more than 15%. The fund manager concentrates on investing in premium businesses with significant growth potential and utilizes a bottom-up company selection methodology. Currently, the fund's top three sectors are consumer goods, IT, and financials. ICICI Bank, HDFC Bank, Reliance Industries, and Infosys are a some of the leading holdings.
2. SBI Magnum Multicap Fund
Another well-liked option for investors wishing to participate in the multicap sector is the SBI Magnum Multicap Fund. Over the past ten years, the fund has produced annualized returns of more than 14%. Based on market values, the fund management uses a flexible strategy to change the allocation between big, mid, and small companies. The portfolio of the fund is well-diversified across a number of industries, including consumer goods, energy, healthcare, IT, and finance. ICICI Bank, HDFC Bank, Infosys, and Reliance Industries are a some of the leading holdings.
3. Invesco India Multicap Fund
One of the most seasoned fund managers in the business oversees the Invesco India Multicap Fund. Over the past ten years, the fund has produced annualized returns of over 13%. The fund employs a research-based methodology and concentrates on locating businesses with significant competitive advantages and room to develop. A combination of big, mid, and small size stocks from a range of industries makes up the fund's portfolio. ICICI Bank, HDFC Bank, Reliance Industries, and Infosys are among the top holdings.
4. Mirae Asset Emerging Bluechip Fund
A multicap fund called Mirae Asset developing Bluechip Fund is dedicated to making investments in new economy areas and developing companies. almost the past five years, the fund has produced annualized returns of almost 15%. The fund manager finds emerging industries, disruptive technologies, and innovative business models that are expected to grow significantly in the coming years. The financial, IT, consumer goods, chemicals, and healthcare sectors are among those with exposure in the fund's portfolio.
5. Axis Bluechip Fund
Another reliable performer in the multicap space is Axis Bluechip Fund. Over the past ten years, the fund has produced annualized returns of more than 14%. The fund manager concentrates on finding premium large cap firms using a research-based methodology. Large-cap equities from industries like financials, IT, consumer goods, energy, and utilities make up the majority of the fund's portfolio. The product has an appealing low cost ratio of about 1.5%.
Conclusion
Over extended periods of time, the aforementioned five multicap funds have routinely beaten both category averages and benchmark indexes. To reach their long-term financial objectives, investors may want to think about investing through the mutual funds vs sip method in one or more of these funds. It is also advised to regularly assess and rebalance your portfolio in light of changes in fund performance.
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