Make your money work for you with the best SIPs in India. Our comprehensive guide covers top performers in 2023, categorised by large, mid, small, multi-cap, and ELSS funds.
A systematic Investment Plan (SIP) is a popular investment option for investors in India who want to create long-term wealth. With the rise in popularity of SIPs, investors are often left wondering which SIP provides the highest return. However, the answer to this question is complex, as various factors influence the return of a SIP scheme.
Here, we will explore the top SIP plans for high growth and return in 2023, factors and features to consider before investing in a SIP scheme, and an overview of the best-performing SIPs in various categories.
Top SIP Plans List to Invest for High Growth and Return in 2023
SIP or Systematic Investment Plan is a popular investment option in India that allows investors to invest a fixed amount of money at regular intervals in mutual funds. This investment method helps investors to accumulate wealth over a long period by investing small amounts of money regularly. However, choosing the right SIP plan is crucial for achieving high growth and return.
Here are some of the top SIP plans that you can consider for high growth and return in 2023:
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Mirae Asset Emerging Bluechip Fund
Direct Plan: This SIP plan invests in emerging companies with the potential for high growth. The fund has a 5-star rating and delivered a 17.25% return last year.
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Axis Bluechip Fund – Direct Plan
This SIP plan invests in blue-chip companies with a proven track record of performance. The fund has a 5-star rating and has delivered a 20.22% return in the last year.
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SBI Small Cap Fund – Direct Plan
This SIP plan invests in small-cap companies with the potential for high growth. The fund has a 5-star rating and has delivered a 31.23% return in the last year.
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HDFC Small Cap Fund – Direct Plan
This SIP plan invests in small-cap companies with high growth potential. The fund has a 5-star rating and has delivered a 42.24% return in the last year.
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Aditya Birla Sun Life Tax Relief 96 – Direct Plan
This SIP plan invests in equity-related instruments to provide tax benefits under Section 80C of the Income Tax Act. The fund has a 5-star rating and has delivered a 26.76% return in the last year.
Factors and Features To Consider Before Investing in a SIP Scheme
Before investing in a SIP scheme, it is essential to consider certain factors and features to ensure you choose the right plan for your investment goals. Here are some of the factors that you should consider before investing in a SIP scheme:
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| Item | Description |
| Investment Goals | You should identify your investment goals and choose a SIP scheme that aligns with your goals. |
| Risk Appetite | You should assess your risk appetite and choose a SIP scheme that matches your risk profile. |
| Fund Performance | You should evaluate the historical performance of the SIP scheme and choose a fund that has consistently delivered high returns. |
| Fund Manager | You should assess the experience and track record of the SIP scheme’s fund manager. |
| Asset Allocation | You should evaluate the asset allocation of the SIP scheme and ensure that it aligns with your investment goals. |
| Expense Ratio | You should consider the expense ratio of the SIP scheme and choose a fund with a lower expense ratio to maximize your returns. |
| Exit Load | You should evaluate the exit load of the SIP scheme and choose a fund with a lower exit load to minimize your costs. |
Equity Linked Savings Schemes (ELSS)
Equity Linked Savings Schemes, also known as ELSS, are a type of mutual fund that primarily invests in securities with an equity component. For investors who wish to save tax and receive high returns, ELSS is a popular SIP choice.
Investors cannot redeem their units from ELSS funds prior to the expiration of the 3-year lock-in period. Under Section 80C of the Income Tax Act, which permits investors to deduct up to ₹1.5 lakhs from their taxable income, ELSS funds provide tax benefits.
Here are some of the advantages of investing in ELSS:
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Tax Benefits
ELSS funds offer tax benefits under Section 80C of the Income Tax Act, which allows investors to save tax.
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High Returns
ELSS funds have the potential to provide high returns over a long period.
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Diversification
ELSS funds invest in a diversified portfolio of equity-related instruments, which reduces the risk of investing in a single stock.
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Lock-in Period
ELSS funds have a lock-in period of 3 years, which helps investors to stay invested for the long term and earn high returns.
Best SIP Performance Overview
The performance of a SIP scheme is an essential factor that investors consider before investing. Here is an overview of the best SIP performers in various categories:
| Category | Funds |
| Large Cap Funds | Axis Bluechip Fund, Mirae Asset Large Cap Fund, Kotak Bluechip Fund |
| Mid-Cap Funds | HDFC Mid-Cap Opportunities Fund, L&T Midcap Fund, DSP Midcap Fund |
| Small Cap Funds | SBI Small Cap Fund, HDFC Small Cap Fund, Kotak Small Cap Fund |
| Multi Cap Funds | Mirae Asset India Equity Fund, ICICI Prudential Equity & Debt Fund, Axis Multicap Fund |
| ELSS Funds | Axis Long Term Equity Fund, Aditya Birla Sun Life Tax Relief 96, ICICI Prudential Long Term Equity Fund |
Conclusion
SIP schemes are a popular investment option for investors who want to accumulate wealth over the long term. By choosing a suitable SIP scheme, investors can achieve high growth and return on their investments. Investors should consider the factors and features mentioned above before investing in a SIP scheme and evaluate the scheme’s performance before making a decision.
Vakilsearch offers legal and financial services to individuals and businesses in India. Vakilsearch can ensure that the SIP scheme you choose complies with all legal requirements and regulations. We can help you make informed investment decisions and ensure your investments are safe and legally compliant. Contact us today.
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