Top 10 Mutual Funds Launched in India in 2024 – Based on AUM

In 2024, the mutual fund landscape has been buzzing with activity, with over 100 new fund offers (NFOs) hitting the market so far, making it an exciting and dynamic year for investors. Staying updated on new mutual fund launches is crucial for every investor, as these funds often target specific asset classes, industries, or investment strategies that align with changing market dynamics.

From tapping into sustainable investing trends and cutting-edge technology sectors to offering international exposure, these funds are shaping the way investors approach their portfolios. Check the best mutual funds launched in 2024, based on their AUM.

Top 10 Mutual Funds Launched in 2024 On AUM Basis

Note: Here are the top 10 mutual funds launched in India for 2024, ranked based on their Assets Under Management (AUM). The funds are picked as of November 18, 2024. 

Overview of Top 5 Mutual Funds Launched in 2024

• HDFC Manufacturing Fund

The HDFC Manufacturing Fund, a thematic equity fund, focuses on investing in companies engaged in manufacturing to achieve long-term capital growth. At least 80% of its assets are allocated to equity and related instruments within this sector.

As of October 31, 2024, the fund’s portfolio features top holdings such as Sun Pharmaceutical Industries (5.36%), Mahindra & Mahindra (4.86%), Tata Motors (4.31%), Maruti Suzuki (4.08%), and Cipla (3.46%), reflecting a diverse mix of leading companies across key industries.

Key metrics: 

• NAV: ₹10.24 as of November 14, 2024
• Risk Profile: Very High Risk

• SBI Energy Opportunities Fund

The SBI Energy Opportunities Fund aims to achieve long-term capital growth by allocating at least 80% of its assets to companies involved in energy-related activities. This includes sectors like oil and gas, utilities, power, and emerging new energy solutions. 

As of October 31, 2024, the fund’s key holdings include a 25.22% stake in Reliance Industries, 8.6% in Bharat Petroleum Corporation, and 6.56% in NTPC, reflecting a strategic focus on industry leaders in traditional and innovative energy sectors.

Key metrics: 

• NAV: ₹10.29 as of November 14, 2024
• Risk Profile: Very High Risk

• ICICI Pru Energy Opportunities Fund

The objective of the scheme is to offer investors long-term capital appreciation by investing in equity and equity-related instruments of companies involved in the exploration, production, distribution, transportation, and processing of both traditional and new energy.

As of October 31, 2024, the ICICI Pru Energy Opportunities Fund has significant allocations in key energy sector companies. Reliance Industries holds the largest share, with a portfolio weight of 19.75%, followed by ONGC at 8.27% and NTPC at 6.98%

Key metrics: 

• NAV: ₹9.52 as of November 14, 2024
• Risk Profile: Very High Risk

• SBI Innovative Opportunities Fund

The top three sectors in the SBI Innovative Opportunities Fund are services, healthcare, and automobile. Fund’s allocation in the services sector leads with 26.1%, while, Healthcare follows at 23.16%. The Automobile sector holds 19.09%. The scheme aims to offer long-term capital appreciation by investing in equity and related instruments of companies benefiting from innovative strategies and themes.

The SBI Innovative Opportunities Fund’s top holdings include  6.18% in Sun Pharmaceutical Industries,5.06% in Info Edge (India), and 5.04% in Route Mobile.

Key metrics: 

• NAV: ₹9.48 as of November 14, 2024
• Risk Profile: Very High Risk

• SBI Automotive Opportunities Fund 

The scheme aims to provide long-term capital growth by investing in equities and related instruments of companies involved in the automotive and allied sectors. The key focus is the automobile sector, which holds 83.7% of the portfolio. Capital Goods follows with 8.04%, while Metals & Mining makes up 2.66%. Other sectors and financials account for a smaller portion of the fund’s allocation.

The top stock holdings in the fund include Mahindra & Mahindra with a 17.27% allocation, followed by Maruti Suzuki India at 10.5%, and Tata Motors with 10.02%.

Key metrics: 

• NAV: ₹9.48 as of November 14, 2024
• Risk Profile: Very High Risk

Conclusion

The funds mentioned above involve potential investment risks. It is important to assess investments based on your personal financial goals and risk tolerance. Always consult with a financial advisor before making any investment decisions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.