- Date : 26/09/2023
- Read: 3 mins
Uncover the secrets of wealth creation with India's historic MF schemes. Read this article to find how these time-tested investments have enriched generations of investors.
Mutual funds have become the go-to investment vehicle for retail investors in India. From the launch of India’s first-ever mutual fund, Unit Trust of India (UTI), over 60 years ago, to the present day, mutual funds have grown in popularity and are now one of the most well-regulated financial investments. But what about returns? In this article, we’ll explore the performance of some of the top oldest mutual funds in India. These equity or hybrid schemes are a testament to the power of long-term investing.
Delivering consistent returns since inception
Annualised return since inception 9-15%
Mutual fund industry is well-regulated
Mutual fund returns are generally more than FDs in the long run
Investors, mutual funds are an excellent investment option in India that offer a range of benefits such as diversification, professional management, tax savings, liquidity, flexibility, and convenience. It’s also important to choose mutual funds with low expense ratios and to monitor the performance of your investments regularly. While past performance doesn’t guarantee future results, it’s crucial to align your investment goals and risk tolerance before investing in mutual funds.
Given below are some of the top oldest mutual funds in the country:
1. UTI Mastershare (Direct)
UTI Mastershare, the first equity-diversified fund in India’s mutual fund industry, was initially a closed-ended fund. It was later converted into an open-ended fund in 2003.
Total assets under management: Rs. 11,314.26 crore
Annualised returns since inception: 13.73%
Expense ratio: 0.81%
2. SBI Magnum Equity ESG Fund (Direct)
The SBI Magnum Equity ESG Fund was originally launched in 1991 as the Magnum Multiplier Scheme ‘90. It was converted to an open-ended fund in 1997 and renamed the Magnum Equity Fund.
Total assets under management: Rs. 4978 crore
Annualised returns since inception: 14.13%
Expense ratio: 1.34%
3. LIC MF Aggressive Hybrid Fund (Direct)
LIC MF Aggressive Hybrid Fund, formerly known as LIC Balanced Fund, has been managing a balanced portfolio of equity and debt since its inception on January 1, 1991.
Total assets under management: Rs. 569.56 crore
Annualised returns since inception: 9.94%
Expense ratio: 1.40%
4. UTI Flexi Cap Fund (Direct)
Initially known as UTI Mastergain '91, the fund underwent two name changes. It was renamed UTI Equity in 2005 and then UTI Flexi Cap Fund in 2021.
Total assets under management: Rs. 25,611.66 crore
Annualised returns since inception: 14.56%
Expense ratio: 0.85%
5. Canara Robeco Equity Hybrid Fund (Direct)
Canara Robeco Equity Hybrid Fund, previously known as GIC Balanced, has been one of the top-performing funds since its inception.
Total assets under management: Rs. 8987.47 crore
Annualised returns since inception: 14.37%
Expense ratio: 0.61%
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