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Best Mutual Funds for 2016

Thousands of mutual funds are currently available in the market. Choosing best mutual funds is a challenging task for any investor. A good mutual fund is the one that consistently manages to outperform its category return and its benchmark. Mutual funds are one of the best wealth creation tools for long-term financial goals like retirement planning, kids education, and marriage etc. For medium and small term financial goals, you can rely on balanced and short-term debt funds.

Equity Linked Savings Schemes (ELSS) offer tax benefits for Individual/HUF under Section 80C of Income Tax Act, 1961. An investor can claim up to 1 lakh as a deduction from his gross total income.

How to Pick a Mutual Fund

5 Things You Should Know About Investment

Best Mutual Funds

Best Mutual Funds for 2016 (by category) are given below.

Diversified Equity Funds

  • ICICI Prudential Value Discovery Fund (G)
  • UTI MNC Fund
  • Franklin India Prima Plus Fund (G)

Large Cap Funds

  • SBI Bluechip Fund
  • ICICI Prudential Focused Bluechip
  • Franklin India Opportunities Fund

Mid Cap Funds

Small Cap Funds

  • Franklin India Smaller Companies
  • DSP Blackrock Micro Cap Fund
  • Reliance Small Cap

Equity Linked Savings Scheme (ELSS) Funds

  • Axis Long Term Equity Fund (G)
  • Birla Sun Life Tax Plan
  • Reliance tax Saver

Balanced Funds

  • ICICI Prudential Balanced Advantage
  • Tata Balanced Fund – Regular
  • L&T India Prudence Fund

Credit Opportunities Funds

  • Franklin India Dynamic Accrual
  • ICICI Prudential Corporate Bond
  • SBI Corporate Bond Fund

Ultra Short Term Funds

  • Religare ┬áInvesco Credit Opportunities Fund
  • ICICI Prudential Ultra Short Term Plan
  • SBI Ultra Short Term Bond

Long Tern Debt Funds

  • IDFC Dynamic Bond – Regular Plan
  • TATA Dynamic Bond – Regular Plan
  • HDFC High Interest – Dynamic

Short Term Debt Funds

  • Birla SL Short Term Fund
  • L&T Short Term Opportunities Fund
  • DWS Banking & PSU Debt – Regular Plan

 

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