These 3 mutual fund schemes can make you crorepati, you only need to invest Rs…

Three equity mutual funds have proved that wealth creation over the long term is possible, as Rs 1 lakh invested with them has grown to Rs 1 crore in three decades.

Top Performers Over 30 Years

Franklin India Prima Fund: This midcap fund was started in December 1993 and has given stupendous performance, turning an investment of Rs 1 lakh to Rs 2.31 crore. This has made it to post a compound annual growth rate (CAGR) of 19.59% and is therefore well suited for investors who want to make big gains on their capital.

Franklin India Bluechip Fund: This large-cap fund was also launched in December 1993, and the same Rs 1 lakh investment fetched about Rs 2.13 crore with a CAGR of 19.28%. It mainly invests in large capitalisation stocks, which makes it a good pick for those investors who want steady returns and growth.

SBI Long Term Equity Fund: This fund is one of the oldest schemes in the ELSS category launched in February 1993 and has grown an initial investment of Rs 1 lakh to Rs 1,21,99,300, with an average annualised return of 16.68%. It is especially attractive because of the tax advantages and because the investment comes with a three-year lock-in.

These funds not only demonstrate the principle of compounding but also the need to choose the right investment tools for sustainable development. Franklin India Prima Fund has assets under management of Rs 10,108 crore as of March 31, 2024; Franklin India Bluechip Fund has assets under management of Rs 7,691 crore; and SBI Long Term Equity Fund has assets under management of Rs 21,976 crore as of the same date.

Investors are advised to compare their risk tolerance and investment period before making an investment. The minimum amount required to invest in these schemes begins at as low as Rs 500 in the case of the SIPs, which means that the schemes are available to almost everyone.

However, as they often say, ‘the past performance is not indicative of future results.’ These funds demonstrate how planning and investing can lead to a huge financial gain over time. Of course, the potential investors should do their homework or seek professional advice before making an investment decision.