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Best Index Funds in India 2024

Best Index Funds - Consider the best performing index mutual funds to invest in 2024 with Scripbox.com. Find the list of best index funds in India on the basis of Returns, Latest Nav, Ratings, Performance, etc.

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Best Index Funds to Invest in 2024

Fund Name3Y ReturnsExpense Ratio
Navi Nifty Next 50 Index Fund (G)
Navi Nifty Next 50 Index Fund (G)
NA0.57
Aditya Birla Sun Life Nifty Next 50 Index Fund (G)
Aditya Birla Sun Life Nifty Next 50 Index Fund (G)
NA0.92
Axis Nifty Midcap 50 Index Fund (G)
Axis Nifty Midcap 50 Index Fund (G)
NA0.98
Navi Nifty 50 Index Fund (G)
Navi Nifty 50 Index Fund (G)
NA0.26
Bandhan Nifty100 Low Volatility 30 Index Fund (G)
Bandhan Nifty100 Low Volatility 30 Index Fund (G)
NA1.02
SBI Nifty Smallcap 250 Index Fund (G)
SBI Nifty Smallcap 250 Index Fund (G)
NA1.01
UTI Nifty Midcap 150 Quality 50 Index Fund (G)
UTI Nifty Midcap 150 Quality 50 Index Fund (G)
NA0.91
Edelweiss Nifty Midcap150 Momentum 50 Index Fund (G)
Edelweiss Nifty Midcap150 Momentum 50 Index Fund (G)
NA1.03
Aditya Birla Sun Life Nifty Midcap 150 Index Fund (G)
Aditya Birla Sun Life Nifty Midcap 150 Index Fund (G)
27.0%1.04
Aditya Birla Sun Life Nifty 50 Equal Weight Index Fund (G)
Aditya Birla Sun Life Nifty 50 Equal Weight Index Fund (G)
NA1.03

Note : *NA implies that Fund is relatively new. Not enough data available

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Factors to Consider Before Investing in The Best Index Mutual Funds in 2024

The following are the factors that you should consider before investing in the best index mutual funds in India in 2024

  • Investment Horizon: Index funds are suitable for investors who have a long-term investment horizon. The fund return might fluctuate in the short term but usually evens out in the long run. It is important to stick to the fund over the decided horizon in order for the fund investments to perform well.
  • Taxation: Redemption of units of index funds leads to capital gain, which can be either short-term or long-term, depending on the holding period. The short-term capital gains are taxable at 15%, and long-term capital gains are taxable at 10% without the benefit of indexation. However, for long-term gains, taxability arises only if the gain is above Rs. 1,00,000.
  • Financial Goals: If the investors make sure to stick to the investment horizon, index funds are able to offer better returns which in turn will help the investors to achieve their financial goals. This can include retirement, wealth creation etc.
  • Expense Ratio: Index funds usually have a lower expense ratio when compared to other funds. If there are two funds tracking, say Nifty, both will generate a similar return. The fund which will have a lower expense ratio will provide a higher return on investment.

How to Invest in an Indexed Fund Through Scripbox

Investing in index mutual funds in India can be done directly or through an agent. Investors can invest online through the direct method by logging on to the fund houses’ website and investing in the fund. On the other hand, they can invest through offline mode by visiting the nearest branch of the fund house. Investing through an intermediary can be done both online and offline.

There are multiple online platforms to invest in these funds, and one of them is Scripbox. Scripbox allows investors to invest the best index funds (Nifty 50 funds or BSE funds) carefully picked after thorough research using their robotic technology. 

You can invest in Scripbox’s recommended best index mutual funds in India by following the below-mentioned steps:

  1. Login to Scripbox
  2. Click on ‘Invest’
  3. Begin your investment journey by choosing ‘A plan to invest in’ or ‘I want to choose my own funds’
  4. Select the mode of investment, i.e., monthly SIP, one-time or STP
  5. Enter the amount of investment
  6. Based on the amount of investment, the recommended funds will be provided. You can change the funds and the distribution of the amount.
  7. Select the payment mode and complete the transaction to set up your investment. 

Overview of the Top Index Funds in India

Navi Nifty 50 Index Fund

The investment objective of the Navi Nifty 50 Index Fund is to achieve returns equivalent to the Nifty 50 Index by investing in stocks of companies comprising the Nifty 50 Index.

The Navi Nifty 50 Index Fund is well-suited for investors with a minimum investment horizon of 5-7 years. The fund’s benchmark is Nifty 50 TR INR.

Navi Nifty Next 50 Index Fund

The fund’s objective is to achieve returns equivalent to the Nifty Next 50 Index by investing in stocks of companies comprising the index, subject to tracking error. 

The Navi Nifty Next 50 Index Fund is appropriate for investors with a minimum investment horizon of 5-7 years. The fund’s benchmark is Nifty Next 50 TR INR.

Aditya Birla Sun Life Nifty Next 50 Index Fund 

The fund’s objective is to provide returns that closely track the total returns of securities as represented by the Nifty Next 50 Index, subject to tracking error.

Investors with a minimum investment horizon of 5-7 years choose Aditya Birla Sun Life Nifty Next 50 Index Fund. The fund’s benchmark is Nifty Next 50 TR INR.

Axis Nifty Midcap 50 Index Fund

Axis Nifty Midcap 50 Index Fund aims to provide returns before expenses that closely correspond to the total returns of the Nifty Midcap 50 subject to tracking errors.

The Axis Nifty Midcap 50 Index Fund is suitable for investors with a minimum investment horizon of 5-7 years. The fund’s benchmark is Nifty Midcap 50 TR INR.

UTI Nifty Midcap 150 Quality 50 Index Fund

The fund’s objective is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.

The UTI Nifty Midcap 150 Quality 50 Index Fund is tailored for investors with a minimum investment horizon of 5-7 years. The fund’s benchmark is Nifty Midcap 150 Quality 50 TR INR.

Bandhan Nifty100 Low Volatility 30 Index Fund

The fund’s objective is to replicate the Nifty100 Low Volatility 30 index by investing in securities of  the index in the same proportion/weightage with an aim to provide returns before expenses that closely correspond to the total return of the Index, subject to tracking errors.

The fund’s benchmark is Nifty 100 Low Volatility 30 TR INR.

SBI Nifty Smallcap 250 Index Fund

The fund’s objective is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error. 

The SBI Nifty Smallcap 250 Index Fund is designed for investors with a minimum investment horizon of 5-7 years. The fund’s benchmark is Nifty Smallcap 250 TR INR.

Edelweiss Nifty Midcap150 Momentum 50 Index Fund

The fund’s objective is to provide returns before expenses that closely correspond to the total returns of the Nifty Midcap150 Momentum 50 Index subject to tracking errors. 

The mid cap momentum fund is suitable for investors who plan to invest their funds for a minimum duration of 5-7 years. The fund’s benchmark is Nifty Midcap 150 Momentum 50.

Edelweiss Nifty Next 50 Index Fund

The fund’s objective is to provide returns before expenses that closely correspond to the total returns of the Nifty Next 50 Index subject to tracking errors.

You may choose to invest in Edelweiss Nifty Next 50 Index Fund if you have a minimum investment horizon of 5-7 years. The fund’s benchmark is NIFTY Next 50 Index.

Edelweiss Nifty Smallcap 250 Index Fund

The fund’s objective is to provide returns before expenses that closely correspond to the total returns of the Nifty Smallcap 250 Index subject to tracking errors.

The Edelweiss Nifty Smallcap 250 Index Fund is suitable for investors with a minimum investment horizon of 5-7 years. The fund’s benchmark is the Nifty Smallcap 250 TR.

Frequently Asked Questions (FAQs)

Which are the top 5 index mutual funds in 2024?

The top 5 index mutual funds in 2024 are:
1. Navi Nifty 50 Index Fund (G)
2. Navi Nifty Next 50 Index Fund (G)
3. Aditya Birla Sun Life Nifty Next 50 Index Fund (G)
4. Axis Nifty Midcap 50 Index Fund (G)
5. UTI Nifty Midcap 150 Quality 50 Index Fund (G)

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