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Most investors focus on returns, but longevity is an equally critical metric. While many funds can perform well during a bull run, very few remain relevant for decades. The oldest funds were built on stability rather than short-term gains. That’s why a long operating history is a testament to a fund's ability to navigate policy shifts, economic downturns, and periods of intense volatility.
In the Indian context, where the average fund life is relatively short, studying the oldest mutual funds of the market provides invaluable data. These funds offer a roadmap for disciplined portfolio behaviour and proven resilience, helping investors shift their focus from mere forecasts to historical facts.
Key Takeaways
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The oldest mutual funds highlight the benefits of disciplined investing and adaptability across cycles, but age alone does not promise superior returns.
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Many long-standing funds focused on diversification and downside control rather than chasing short-term market rallies.
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Reviewing how the oldest mutual funds in India behaved during downturns offers better insight than recent performance alone.
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Older funds work best when aligned with time horizon, risk comfort, and portfolio balance, not as standalone decisions.
What Are The Oldest Mutual Funds in India?
The oldest mutual funds in India date back to the pre-liberalisation period, when there were few investment options and regulations were still in development. These funds were introduced to participate steadily in both equity and debt markets, but not with aggressive growth. With time, they were able to adjust to regulatory changes, market growth and evolving investor demands. Cautious portfolio means and long-term investing are indicative of their survival.
Also Read: Difference Between Equity and Debt
List of the Oldest Surviving Mutual Funds in India
India’s mutual fund industry has evolved over decades, but only a few schemes have managed to survive across multiple market cycles. Based on long-standing industry records, some of the oldest mutual funds in India trace their origins back to the era when mutual fund investing was still unfamiliar to most retail investors.
|
Fund Name |
AMC |
Launch Date (Approximate) |
Type |
|
UTI Mastershare Unit Scheme |
UTI Mutual Fund |
Oct 1986 |
Equity (Large Cap) |
|
SBI Magnum Equity ESG Fund (SBI ESG Exclusionary Strategy Fund) |
SBI Mutual Fund |
Jan 1991 |
Equity (Thematic-ESG) |
|
Tata Large & Mid Cap Fund |
Tata Mutual Fund |
Feb 1993 |
Equity (Large & Mid) |
|
Franklin India Bluechip Fund |
Franklin Templeton MF |
Dec 1993 |
Equity (Large Cap) |
|
Franklin India Prima Fund |
Franklin Templeton MF |
Dec 1993 |
Equity (Mid Cap) |
Disclaimer: The above list is illustrative and not exhaustive. Fund names, mandates, and types may have changed over time due to mergers or SEBI re-categorisation.
Overview of the Oldest Surviving Mutual Funds in India
The oldest mutual funds in India were introduced at a time when organised investing was still unfamiliar to most households. Here’s an overview of some of these funds:
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UTI MasterShare Unit Scheme
Launched in 1986, this is India’s first equity mutual fund and a true pioneer of the "Large Cap" category. It has survived every major Indian market cycle, focusing on high-quality companies with a consistent track record of dividend distribution and capital appreciation.
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SBI Magnum Equity ESG Fund
Established in 1991, this fund originally began as a diversified equity scheme before pivoting to an Environmental, Social, and Governance (ESG) focus. It blends decades of institutional experience with a modern framework, selecting companies that meet high ethical and sustainability standards.
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Tata Large & Mid Cap Fund
Operating since 1993, this fund has demonstrated remarkable adaptability as the Indian regulatory landscape evolved. It focuses on a "growth-at-a-reasonable-price" strategy, maintaining a steady portfolio that spans across various sectors to mitigate industry-specific risks.
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Franklin India Bluechip Fund
Launched in 1993, this scheme was one of the first private-sector options available to Indian investors. It is widely recognised for its conservative investment style, prioritising financial strength and management quality to protect downside during volatile market phases.
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Franklin India Prima Fund
As one of the oldest mid-cap focused funds in the country (launched in 1993), Prima has been a witness to the birth of many current industry leaders. It specialises in identifying emerging businesses early, leveraging over three decades of research to navigate the high-reward, high-risk mid-cap segment.
Also Read: What Are Mutual Funds?
Performance List of Oldest Mutual Funds in India
The performance list of the oldest mutual funds in India highlights schemes that have operated across multiple market cycles and witnessed liberalisation, global crises, market booms, and regulatory changes. Their long-term performance reflects consistency rather than short-term outperformance. While returns may vary across periods, their survival indicates stable fund management, defined investment objectives, and investor trust built over decades.
|
Fund Name |
1Y Returns |
3Y Returns (CAGR) |
5Y Returns (CAGR) |
Since Inception |
|
UTI Mastershare Unit Scheme |
32.90% |
11.59% |
14.36% |
~15.42% |
|
SBI Magnum Equity ESG Fund |
31.79% |
16.04% |
15.46% |
~12.84% |
|
Tata Large & Mid Cap Fund |
4.60% |
13.67% |
15.90% |
~12.91% (Since 1993) |
|
Franklin India Bluechip Fund |
8.49% |
13.86% |
13.14% |
~18.02% (Since 1993) |
|
Franklin India Prima Fund |
7.39% |
22.54% |
19.20% |
~18.92% (Since 1993) |
Disclaimer: The details mentioned above are as of January 29th, 2026 and subject to change.
How to Invest in Mutual Funds in India?
You can invest in these funds through distributors or via the fund house. Here is a general step-by-step guide on how you can invest:
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Step 1: Complete KYC: Verify your PAN and Aadhaar-based KYC via any fund house website or investment app to get "KYC Validated" status.
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Step 2: Pick a Platform: Choose between Direct Plans or Regular Plans via a distributor for guided advice.
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Step 3: Select Fund & Mode: Choose a fund matching your goal and decide between a SIP (monthly automated investments) or a lump sum (one-time) payment.
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Step 4: Transact: Link your bank account via UPI or Net Banking to complete the payment and receive your units (folio number).
Also Read: Direct vs Regular Mutual Fund
Conclusion
The oldest mutual funds in India indicate that patience and structure are more important than quick returns. Longevity demonstrates that disciplined processes have the capacity to endure across various phases in the market. Before any investor chooses a fund, they should take into consideration their risk-proneness, time horizon, and balance of the portfolio. Elderly schemes offer background, rather than assurance. They can help in long-term planning without having to substitute diversification and periodic portfolio review.
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