Best Mutual Funds for Salaried Individual 2023

Mutual Funds for salaried Individuals are an excellent investment for increasing wealth and making money for long-term financial objectives.

As there are salaried individuals who are looking for mutual funds to invest in them and grow with them. The past performance of the mutual fund is the expense ratio, and the reputation of the fund manager or asset management will be considered.

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Here are the 5 best mutual funds for salaried individuals – 2023

Best Mutual funds for salaried individuals.

Mirae Asset Large cap Fund

It is one of the mutual funds for salaried individuals. The large-cap group it funds regularly provides investors with positive returns by investing in high-quality companies over the years.

The companies have a track record of earning growth, which can deliver a return of 20.7% with an average return of 12.67%.

It holds funds between 50 to 60 stocks in the portfolio, with the most significant asset from HDFC Bank, Reliance Industries, and ICICI Bank.

It is the benchmark index with a morning star rating of 5%.

HDFC Balanced Advantage Funds

HDFC Bank Advantage Funds is a mutual funds for the salaried individual in which you can invest in stocks and debt instruments. In the past 3 years, HDFC Balanced Advantage funds have produced a return of 40.95% and 23.6% annually.

As its assets are like Reliance Industries, HDFC Bank, and ICICI Bank and it has a better portfolio for the

stocks and bonds.

Because it is a cheap expenses ratio and skilled manager, which lead to attractive funds for salaried investors.

Axis Bluechip Fund

Another top-performing mutual fund for a salaried individual is the blue chip axis fund which focuses on the large-cap business and funds regularly with a rating of 5 stars in the morning star.

The axis bluechip fund can deliver 9.84% and annualized ROI to leading holding firms like HDFC Bank, Infosys, and  ITC as the mutual fund invests in stocks of companies with a strong track record of consistent earnings excellent management. The fund is also exposed to mid-cap and small-cap stocks, which provide additional growth potential.

It has a meager expense ratio, meaning that much of your money is invested and not wasted on fees. It also has a meager turnover ratio, which helps to reduce the tax burden on the investor.

ICICI Prudential Bluechip

The ICICI Prudential Bluechip Fund is also an excellent option for mutual funds for salaried individuals who want to secure their future and maximize their returns.

It is a large-cap fund that invests in large companies to ensure high returns.

1. A diversified portfolio with more than 70 stocks.
2. A steady investment plan with a 3–5-year horizon.
3. A well-diversified fund across sectors and companies.
4. Low-cost investments with no entry or exit loads.
5. Consistent performance with returns of around 12-15% annually.

The ICICI Prudential Long-Term Bond Fund is an excellent option for those looking to invest in a debt fund. This fund invests in high-quality debt instruments and is ideal for salaried individuals looking for a low-risk investment to park their money in.

SBI Bluechip Fund

The SBI Bluechip Fund is an excellent option for salaried individuals looking to invest long-term. SBI Bluechip Fund is managed by SBI Mutual Fund, one of India’s largest and most respected asset managers.

It gives consistent returns over the years; in the fiscal year ending March 31, 2020, the fund generated a return of 20.94%. This is significantly higher than the S&P BSE 200 Index’s return of 7.36% for the same period.

Conclusion

Investing in mutual funds for salaried individuals in 2023, it is best to choose funds with a strong track record of performance, low fees, and well diversified. Furthermore, it is recommended to consult a financial advisor to understand the various fund options available before making an investment decision.