Best bluechip mutual funds to invest online in India 2024

Investing in mutual fund has always been a popular choice for individuals seeking to grow their wealth over time. Among the various types of mutual funds, bluechip mutual funds stand out as a reliable option for investors looking for stability and steady returns. Bluechips refer to the shares of well-established companies (leaders in their sectors) that have delivered stable performance over the years so investing in them can prove promising in longer horizons.

Read on to understand what bluechip mutual funds are, why they are a compelling investment option, and explore the list of the top bluechip mutual funds to consider in 2024.

Understanding Bluechip Mutual Funds

Bluechip mutual funds are investment vehicles that primarily invest in shares of large, well-established companies with a proven track record of stable performance, strong financials, and leadership positions in their respective industries. These companies are often market leaders and have a history of consistently delivering value to their shareholders. Investing in bluechip funds provides investors with exposure to such companies, thereby offering a combination of stability and growth potential.

Reasons to Invest in Blue Chip Funds

1. Stability: Bluechip companies are known for their stability even during market downturns. Investing in bluechip mutual funds can help mitigate risk and provide a cushion against market volatility.
2. Long-term growth: While bluechip stocks may not offer explosive growth like mid or small-cap stocks, they tend to deliver steady, long-term growth. This makes them an ideal choice for conservative investors or those with a long-term investment horizon.
3. Dividend income: Many bluechip companies have a consistent track record of paying dividends to their shareholders. Investing in bluechip funds can provide a steady stream of dividend income along with potential capital appreciation.
4. Diversification: Bluechip mutual funds typically hold a diversified portfolio of stocks across various sectors. This diversification helps spread risk and reduces the impact of adverse events affecting any single company or sector.

List of Top Blue Chip Funds to Invest in 2024

On the basis of the 3-year and the 5-year Compound Annual Growth Rate (CAGR) as of 31st March 2024, here are some of the top bluechip funds to invest in 2024:

1. ICICI Prudential Bluechip Fund

ICICI Bluechip Mutual Fund, a leading large-cap mutual fund in India, has delivered impressive returns of 21.46% CAGR over the past three years and 17.86% CAGR over the past five years. ^[a]With a strategic focus on high-quality blue-chip companies renowned for their stability and growth potential, this fund is particularly suited for conservative investors aiming for consistent capital appreciation with minimal fluctuations. Renowned for its performance, the ICICI Prudential Bluechip  Fund stands out as one of the top choices among large-cap mutual funds in India.

2. SBI Bluechip Fund

SBI Bluechip Fund is also a notable large-cap mutual fund in India, showcasing a commendable 3-year return of 15.57% and a 5-year return of 15.29%. ^[b]With a dedicated focus on established market leaders, this fund places emphasis on stability and growth prospects.

3. HDFC Top 100 Fund

The HDFC Top 100 Fund showcases a strong 3-year return of 22.7% and a 5-year return of 15.99%. ^[c]This HDFC bluechip mutual fund appeals to investors aiming for steady growth by strategically investing in financially robust and high-performing businesses across various sectors.

4. Axis Bluechip Fund

The Axis Bluechip Fund showcases an impressive 3-year return of 13.43% and a 5-year return of 15.37%. ^[d]This fund concentrates on sturdy large-cap companies, making it an attractive choice for investors aiming for reliable returns from bluechip funds and exposure to thriving businesses.

How to Invest in Bluechip Funds

Investing in bluechip mutual funds is now easier than ever, thanks to the availability of online investment platforms. You can begin by researching different bluechip funds and comparing their performance, expense ratios, and fund managers’ track record.

Select a reliable online investment platform that offers the best bluechip mutual funds as per your objectives and allows you to invest easily. Complete the Know Your Customer (KYC) process by submitting the necessary documents online.

Once your KYC is verified, you can start investing in bluechip funds by selecting the desired fund and amount. Now, regularly monitor the performance of your investments and make necessary adjustments based on the changing market conditions or your investment goals.

Conclusion

Mutual fund investment in bluechip funds offers a compelling combination of stability, growth potential, and dividend income. By investing in well-established companies with strong fundamentals, you can build a diversified portfolio that withstands market fluctuations while earning consistent returns over the long term. With online investment platforms making it easier to invest in mutual fund investments like bluechip funds, now is an opportune time to consider adding them to your investment portfolio for 2024 and beyond.