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Viha K
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Asked: 2024-10-24T08:52:38+05:30

Which mutual funds are best for beginners in 2024?

Which mutual funds are best for beginners in 2024?
investmentmutualfund

1 Answer

Voted Oldest Recent Random
  1. Anonymous

    Here’s a simple guide to the best mutual funds for beginners in 2024:

    1. Index Funds

    • Why: Index funds follow a specific market index, like the Nifty 50 or Sensex, offering low-cost exposure to the entire market.
    • Best Options:
      • Nifty 50 Index Fund
      • Sensex Index Fund

    2. Large-Cap Funds

    • Why: These funds invest in large, well-established companies, providing relatively stable returns with lower volatility.
    • Best Options:
      • HDFC Top 100 Fund
      • Axis Bluechip Fund

    3. Multi-Cap Funds

    • Why: Multi-cap funds invest in a mix of large, mid, and small-cap stocks, giving a balanced approach with potential for higher returns.
    • Best Options:
      • Parag Parikh Flexi Cap Fund
      • Canara Robeco Multi Cap Fund

    Tips for Beginners:

    • Start Small: Begin with a modest amount and increase as you gain confidence.
    • Diversify: Spread investments across different types of funds to reduce risk.
    • Think Long-Term: Aim to invest for 5-10 years for better returns.
    • Consult a Financial Advisor: Get tailored advice to match your goals.
    • Stay Informed: Regularly check in on market trends and your investments.

    Remember, while these funds have good track records, always do your research or speak with an advisor before investing.

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