New Delhi: With increasing financial awareness, investments in mutual funds are on the rise. In the fiscal year 2023-24, mutual fund assets increased by 34 per cent, marking the highest growth in seven years. According to a report by Axis Mutual Fund titled “Women Investment Behaviour Report 2024,” women are surpassing men in terms of higher assets under management and have a strong inclination towards long-term investment outlooks in mutual funds. This trend highlights the growing popularity of mutual funds among various categories of investors. You can also become a crorepati through monthly SIP in Mutual Funds. Let’s take a look on How much SIP should you should do to earn 1 crore in 20 years.
How to earn 1 crore through mutual funds?
Certified financial planner, Poonam Rungta has told Money9 that to earn Rs 1 crore in 20 years, SIP of 7,000-8,0000 should be done in Mutual Funds every month. Here the return on investment is expected to be around 15 per cent. One might be curious about which categories of mutual funds are suitable to begin their SIPs. Rungta suggested diversifying funds to be invested in SIP. She advised to break funds of Rs 8,000 in two parts. One part can be invested into Parag Parikh Flexi cap fund and other can be invested in Mirae asset large and midcap fund.
Top 5 leaders of the mutual fund industry
Now let’s take a look at top 5 leaders in the mutual fund industry based on the total assets under management (AUM):
SBI Mutual Fund: Leading the industry with a monthly average AUM of Rs 9.77 lakh crore as of May 2024.
ICICI Prudential: It is ranked second in the industry in terms of AUM.
HDFC Mutual Fund: It holds the third position among mutual fund companies in India.
Nippon India Mutual Fund: Secured the fourth largest position with an AUM of Rs 6.67 lakh crore.
Kotak Mahindra Mutual Fund: It is ranked fifth with an AUM of Rs 4.15 lakh crore.
If you are a mutual fund investor, then it is important for you to understand that high AUM does not guarantee high returns. If the size of a fund is small, it does not mean that the returns will be less and you should not invest in it. In terms of returns, the schemes of small companies are also performing well.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
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Mutual Fund calculator for Rs 1 crore: In the fiscal year 2023-24, mutual fund assets increased by 34%, marking the highest growth in seven years. This trend highlights the growing popularity of mutual funds. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
