For most of us, retirement planning might be scary. Mutual funds are one way to make sure you have a comfortable retirement. In a world where financial security is vital, selecting the finest retirement funds in India for 2024 becomes an essential task. As a result, in this article, we will look at some of the top mutual funds for retirement that you should consider investing in 2024.
Here are 5 best retirement mutual funds in India for 2024
1. ICICI Pru Retirement Fund-Pure Equity Plan
The Solution-Oriented Retirement mutual fund scheme offered by ICICI Prudential Mutual Fund is known as ICICI Prudential Retirement Fund. In its category, this fund is medium-sized and was introduced in February 2019.
2. HDFC Retirement Savings Fund Equity Plan Direct-Growth
It has allocated 89.74% of its investments to equities, with 48.81% in large-cap companies, 9.45% in mid-cap stocks, and 17.4% in small-cap stocks. ICICI Bank, HDFC Bank, Axis Bank, Bajaj Auto Limited, Infosys Limited, Bharti Airtel Limited, Larsen & Toubro Limited, State Bank of India and ITC Limited are among its holdings.
3. ICICI Prudential Retirement Fund Hybrid Aggressive Plan Direct-Growth
It has allocated 80.02% of its investments to equities, with 46.78% in large-cap companies, 20.73% in mid-cap stocks, and 12.52% in small-cap stocks. It also allocates 7.87% in debt including 4.79% in government securities. Several companies are among its holdings: Jindal Stainless Limited, Tech Mahindra Limited, GOI, Lupin Limited, Interglobe Aviation Limited, Ultratech Cement Limited, Bharti Airtel Limited and Ambuja Cements Limited.
4. Tata Retirement Savings Fund Progressive Plan Direct-Growth
Tata Mutual Fund introduced a solution-oriented retirement mutual fund named the Tata Retirement Savings Fund Progressive Plan Direct Growth. The scheme rated Very High Risk, was made available to investors in June 1995.
5. Aditya Birla Sun Life Retirement Fund- 30s Plan Direct Growth
The Aditya Birla Sun Life Retirement Fund- 30s Plan Direct Growth is a Solution-Oriented Retirement mutual fund introduced by Aditya Birla Sun Life Mutual Fund. The plan has a Moderately High risk rating and was first launched in December 1994.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.