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Top 8 Best Performing SIP Mutual Funds in India for 2022-2023

by | Last Updated On October 13, 2022

Well Researched List of Top 8 Best Performing SIP Mutual Funds in India for 2022-2023.

Before we proceed with the list of Top 8 Best Performing SIP Mutual Funds in India for 2022-2023, let’s first understand the meaning of mutual fund and SIP and why one should consider investing in mutual funds through SIP method.

Top 8 Best Performing SIP Mutual Funds in India for 2022-2023

List of Top 8 Best Performing SIP Mutual Funds in India for 2022-2023

With more than 5,000 mutual fund schemes available in India, choosing the right one to invest is not an easy task. Though finding the right mutual fund is not easy we can still choose the right and best ones to invest on the basis of – Returns, Latest NAV, Expense Ratio, Exit loads, Ratings, Performance etc.

Based on these criteria, we have made a list of the best performing mutual funds that we can invest in through an SIP. In comparison to the other available funds, consider investing in the best of hand-picked, top performing sip mutual funds in India to invest in 2022-2023 with this article.

S.# Mutual Fund Scheme Avg. Return in Last 5 Years
1. Parag Parikh Flexi Cap Fund 16.19% p.a
2. UTI Flexi Cap Fund 12.69% p.a
3. SBI Contra Fund 12.45% p.a
4. Invesco India Mid Cap Fund 12.19% p.a
5. Kotak Emerging Equity Fund 12.30% p.a
6. ICICI Prudential Value Discovery Fund 11.90% p.a
7. SBI Flexicap Fund 10.01% p.a
8. DSP Midcap Fund 8.76% p.a

What are Mutual Funds?

Mutual Funds are usually formed when a fund house or an asset management company pools investments from several individuals and institutional investors with common investment objectives in order to purchase securities. It should be the first step towards Equity Investment for beginners.

Mutual funds are broadly classified into several different categories depending on the amount of their equity exposure. These are:

  1. Equity funds;
  2. Debt funds; and
  3. Balanced / Hybrid funds

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What is SIP (Systematic Investment Plan)?

SIP (Systematic Investment Plan) is a smart, hassle-free and a convenient method of investing a fixed amount (as small as Rs.100) and is one of the two ways of investing in a mutual fund scheme. The other way of investing in mutual funds is investing a lump sum amount.

You can take a call on how regularly you want to invest where frequency could be weekly, bi-weekly, monthly, quarterly, or even annually, as per your choice and comfort. SIP allows one to purchase several unit(s) of shares on a particular date. When you go for an SIP for your investing needs, there is no need to time the market and in addition it also protects you from Stock Market Volatility.

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Why Invest in Mutual Funds Via SIP?

Investing in mutual funds via an SIP is mostly advisable for the first-time mutual fund investors as it helps them build a sense of financial discipline in the long run. Most millennial prefer taking the SIP route as it gives them a high degree of flexibility.

Investing through SIPs forces you to set aside a fixed sum on a regular basis, which is what we need to make investing a habit and to allow build a respectable fund for our future. Investing in MF through SIP for long term comes with an advantage of three powerful investment strategies like:

  1. Investment Portfolio Diversification;
  2. Power of Compounding; and
  3. Rupee Cost Averaging.

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Top 8 Best Performing SIP Mutual Funds in India for 2022-2023

Now let us have a detailed look at some of the Fundamentals of these SIP Mutual Fund Schemes.

1. Parag Parikh Flexi Cap Fund

Parag Parikh Flexi Cap Fund

  • Launch Date: 28th May, 2013
  • Last 5 Years Average Return: 16.19% p.a.
  • Minimum Investment Amount: Rs. 1000
  • Fund Size: 22,647.03 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 43.91
  • Expense Ratio: 1.94%

2. UTI Flexi Cap Fund

UTI Flexi Cap Fund

  • Launch Date: 1St August, 2005
  • Last 5 Years Average Return: 12.69% p.a.
  • Minimum Investment Amount: Rs. 500
  • Fund Size: 23,608.88 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 214.40
  • Expense Ratio: 1.81%

3. SBI Contra Fund

SBI Contra Fund

  • Launch Date: 9Th May, 2005
  • Last 5 Years Average Return: 12.45% p.a.
  • Minimum Investment Amount: Rs. 500
  • Fund Size: 4,584.19 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 191.05
  • Expense Ratio: 1.95%

4. Invesco India Mid Cap Fund

Invesco India Mid Cap Fund

  • Launch Date: 19Th April, 2007
  • Last 5 Years Average Return: 12.19% p.a.
  • Minimum Investment Amount: Rs. 500
  • Fund Size: 2,229.51 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 76.13
  • Expense Ratio: 2.09%

5. Kotak Emerging Equity Fund

Kotak Emerging Equity Fund

  • Launch Date: 30Th March, 2007
  • Last 5 Year Average Return: 12.3% p.a.
  • Minimum Investment Amount: Rs. 1,000
  • Fund Size: 18,654.69 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 64.87
  • Expense Ratio: 1.73%

6. ICICI Prudential Value Discovery Fund

ICICI Prudential Value Discovery Fund

  • Launch Date: 16Th August, 2004
  • Last 5 Year Average Return: 11.9% p.a.
  • Minimum Investment Amount: Rs.100
  • Fund Size: 23,731.94 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 234.05
  • Expense Ratio: 1.76%

7. SBI Flexicap Fund

SBI Technology Opportunities fund

  • Launch Date: 29Th September, 2005
  • Last 5 Year Average Return: 10.01% p.a.
  • Minimum Investment Amount: Rs. 500
  • Fund Size: 15,047.24 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 68.03
  • Expense Ratio: 1.72%

8. DSP Midcap Fund

DSP Midcap Fund

  • Launch Date: 14Th November, 2006
  • Last 5 Year Average Return: 8.736% p.a.
  • Minimum Investment Amount: Rs. 500
  • Fund Size: 13,180.66 Cr
  • Risk: Very High
  • Plan Type: Regular Growth
  • NAV: 77.47
  • Expense Ratio: 1.78%

Mutual Funds for SIP Investment FAQ

SIP or Systematic Investment Plan is an Investment Option in a Mutual Fund Scheme that allows Investor to invest a fixed amount at regular intervals. SIP is Best for People with Limited Income and Saving and those who want to invest a Fixed Amount Every Month in Stock Market in a hassle-free manner.

Yes, Investment in Equity Via Mutual Fund SIP is a Good Investment Option. It Reduces the Average Cost of Mutual Fund Units. If an Investor keeps investing a fixed amount through SIP, even during Stock Market Fluctuation or Marker Crash, the Average Cost per Unit is Lower as compared to Lump Sum Investment.

Yes, Mutual Fund SIP is ALWAYS Profitable is a Fast Growing Indian Economy. This is one reason why Foreign Portfolio Investors / Foreign Institutional Investors (FPIs /FIIs) are Investing More in Indian Stock Market.

I don't endorse high returns such as - 22.26% Return in 1 Year OR 69.12% Return in 2 Years OR 92.15% Returns in 3 Years OR 111.81% Returns in 5 Year SIP.

But, in simple terms, Returns from SIP will always be Higher than Current Inflation or Interest that we get from a Bank FD. This is ALWAYS True (even during Pandemics and Market Crash) in case of a Fast Developing Economy like India. In fact Pandemics and Market Crash are BIG Opportunities to Invest More in Equity Via SIP in MFs because you Get Cheaper Mutual Fund Units that you can Sell at High Price Later.

S. No
 Mutual Fund 1 Year Return
1. Axis Bluechip Fund 52.52%
2. Axis Focused 25 Fund 61.91%
3. DSP Equity Fund 31.90%
4. Franklin India Focused Equity Fund 80.39%
5. HDFC Balance Advantage Fund 55.65%
6. ICICI Prudential Bluechip Fund 59.24%
7. Kotak Standard Multicap Fund 48.94%
8. Motilal Oswal Focused 25 Fund 40.77%
9. Nippon India large Cap Fund 69.69%
10. TATA India Consumer Fund 40.09%

Yes, Sometimes. This is because of Wrong Selection of Mutual Fund. Sometimes, Investors get Panicked, mainly during Market Crash or a Pandemic and Sell their Mutual Fund at Loss to Prevent Further Loss. Because of these Immature Mistakes, some Investors, especially beginners,  have to suffer loss instead of profit.

Mutual Fund Companies don't penalize investors for non-payment of 2 consecutive SIP Installments. Your SIP will automatically get cancelled if you fail to pay 3 consecutive SIP Payment. Your Bank may also charge you with some penalty for dishonoring the auto debit payments.

Yes, Systematic Investment Plan is a Better Investment Option than a Bank FD considering advantages like Flexibility, Diversification, Tax Benefits and Higher Returns.

Conclusion

The above List of Top 8 Best Performing SIP Mutual Funds in India for 2022-2023. You are still advised to do your own further Research before Investing.

I hope you liked this Article. Please SHARE with others. Thanks!

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Ramesh

Ramesh Kumar Das is a Young and Dynamic Software Engineer, Blogger and Young Entrepreneur and Investor. He holds a Master's degree in Computer Software and has worked for some of the largest investment banks in the world, starting 2011 till date. He has exposure to the banking domain that includes Investment, Core and Retail banking.He has a job profile of a Lead Data Analyst and has an extensive knowledge on both fundamental and technical analysis of banking data. At present he has more than ten years of real time knowledge on Investment Services and it’s still counting. He possesses vast experience in the field of Stock Market, Mutual Funds and Investment Portfolio Management. Keep visiting for daily dose of Share Trading Tips and Tutorials.

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