Mutual Fund Investment Plan: Financial experts often suggest that long-term investments have the potential for better returns. Today, in this article, we have highlighted how long-term investment in mutual funds could make one a millionaire.
Mutual Funds (Mutual Fund Companies) have thousands of equity schemes, many of which have quickly turned an initial investment of Rs 1 lakh into over Rs 1 crore. Here are 10 such schemes, the latest NAVs of which are over Rs 1,000, meaning they have multiplied their investments by more than 100 times.
These 10 funds have been in the market for over 25 years. The only exception is the Sundaram Mid Cap Fund, which has been in the market for approximately 23.81 years. All of these schemes have generated returns of over 17 per cent since their inception. These schemes are from five different categories: mid cap, flexi cap, ELSS, large cap, and large and mid cap fund categories.
Mutual Fund Investment Plan: Schemes that turned Rs 1 lakh investment into Rs 1 crore
Nippon India Growth Mid Cap Fund has the highest NAV of Rs 4,332.66. Launched in October 1995, this scheme has delivered a CAGR of 21.95 per cent since its inception. An initial investment of Rs 1 lakh has grown to Rs 4.33 crore.
Meanwhile, Franklin India Mid Cap Fund has a NAV of Rs 2,668.40. This fund has delivered a CAGR of 18.79 per cent since inception. The scheme has grown its initial investment of Rs 1 lakh to Rs 2.66 crore.
On number three, we have a flexi cap fund. HDFC Flexi Cap Fund (formerly known as HDFC Equity Fund) has a NAV of Rs 1,944.04. This scheme has delivered a CAGR of 18.30 per cent since its inception. An initial investment of Rs 1 lakh has grown to Rs 1.94 crore.
Aditya Birla Flexi Cap Fund and Franklin India Flexi Cap Fund have NAVs of Rs 1,837 and Rs 1,566, respectively. These schemes have delivered CAGRs of 20.70 per cent and 17.33 per cent, respectively, since inception.
These schemes have grown from an initial investment of Rs 1 lakh to Rs 1.83 crore and Rs 1.56 crore, respectively.
Nippon India Vision Large & Mid Cap Fund has a NAV of Rs 1,456 and has delivered a CAGR of 17.68 per cent since its inception in October 1995. The scheme has grown its initial investment of Rs 1 lakh to Rs 1.45 crore.
Sundaram Mid Cap Fund has a NAV of Rs 1,425. This mid-cap fund has delivered a CAGR of 23.16 per cent since its inception. The scheme has grown from an initial investment of Rs 1 lakh to Rs 1.42 crore.
The Franklin India ELSS Tax Saver Fund has a NAV of Rs 1,394.96. Managed by Franklin Templeton Mutual Fund, this ELSS fund has delivered a CAGR of 20 per cent since its inception in April 1999. The scheme has grown from an initial investment of Rs 1 lakh to Rs 1.39 crore.
The HDFC ELSS Tax Saver has a NAV of Rs 1,334. This scheme has delivered a CAGR of 22.36 per cent since its inception. The initial investment of Rs 1 lakh has grown to Rs 1.33 crore.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
