The table below shows the Best Mutual Funds For Senior Citizens AUM, NAV, and Minimum SIP.
| Name | AUM (Cr) | NAV | Minimum SIP |
| HDFC Balanced Advantage Fund | 79875.08 | 498.37 | 100.00 |
| ICICI Pru Balanced Advantage Fund | 55229.33 | 71.93 | 100.00 |
| HDFC Flexi Cap Fund | 49656.92 | 1794.91 | 100.00 |
| SBI BlueChip Fund | 44819.48 | 88.84 | 5000.00 |
| ICICI Pru Multi-Asset Fund | 36843.05 | 709.86 | 500.00 |
| Axis ELSS Tax Saver Fund | 34025.16 | 96.24 | 6000.00 |
| ICICI Pru Equity & Debt Fund | 33502.19 | 378.97 | 100.00 |
| Axis Bluechip Fund | 32645.86 | 62.56 | 100.00 |
| HDFC Top 100 Fund | 32355.19 | 1116.77 | 1500.00 |
| HDFC Hybrid Equity Fund | 22642.92 | 113.91 | 2500.00 |
Content ID:
- What are Mutual Funds For Senior Citizens?
- Mutual Funds For Senior Citizens
- Top Mutual Funds For Senior Citizens
- Best Mutual Funds For Senior Citizens
- Best Mutual Fund For Senior Citizens In India
- Who Should Invest In Mutual Funds For Senior Citizens?
- How To Invest in the Best Mutual Fund For Senior Citizens In India?
- Performance Metrics Of Mutual Funds For Senior Citizens
- Benefits of Investing in Top Mutual Funds For Senior Citizens
- Challenges Of Investing In Mutual Funds For Senior Citizens
- Introduction to Best Mutual Funds For Senior Citizens
- Top Mutual Funds For Senior Citizens – FAQ
What are Mutual Funds For Senior Citizens?
Mutual funds for senior citizens are investment options specifically designed to meet the financial needs and risk tolerance of retirees or older investors. These funds typically prioritize capital preservation, regular income, and low volatility to ensure financial stability in retirement.
These funds often invest in a mix of debt and equity to balance risk and return, ensuring a steady income stream through dividends or interest. Debt-oriented funds are popular among seniors, providing safer investment options compared to volatile equity markets.
Additionally, some mutual funds offer tax benefits, which are particularly advantageous for senior citizens. These funds might include options like monthly income plans (MIPs) that focus on delivering regular payouts and helping manage day-to-day expenses without eroding the principal investment.
Mutual Funds For Senior Citizens
The table below shows Mutual Funds For Senior Citizens based on the lowest to highest expense ratio.
| Name | Expense Ratio | Minimum SIP |
| Axis Short Term Fund | 0.34 | 100.00 |
| HDFC Short Term Debt Fund | 0.37 | 100.00 |
| ICICI Pru Ultra Short Term Fund Fund | 0.39 | 500.00 |
| Kotak Debt Hybrid Fund | 0.50 | 100.00 |
| Kotak ELSS Tax Saver Fund | 0.56 | 100.00 |
| SBI Multi Asset Allocation Fund | 0.58 | 5000.00 |
| ICICI Pru Multi-Asset Fund | 0.62 | 500.00 |
| SBI Conservative Hybrid Fund | 0.62 | 1500.00 |
| Canara Rob ELSS Tax Saver | 0.62 | 1000.00 |
| Mirae Asset ELSS Tax Saver Fund | 0.64 | 100.00 |
Top Mutual Funds For Senior Citizens
The table below shows the Top Mutual Funds For Senior Citizens based on the Highest 3Y CAGR.
| Name | CAGR 3Y % | Minimum SIP |
| Quant ELSS Tax Saver Fund | 33.27 | 100.00 |
| SBI Long Term Equity Fund | 30.02 | 500.00 |
| HDFC Flexi Cap Fund | 29.46 | 100.00 |
| HDFC Retirement Savings Fund-Equity Plan | 28.17 | 5000.00 |
| Aditya Birla SL Dividend Yield Fund | 28.01 | 100.00 |
| ICICI Pru Equity & Debt Fund | 27.66 | 100.00 |
| HDFC Balanced Advantage Fund | 27.16 | 100.00 |
| ICICI Pru Multi-Asset Fund | 26.23 | 500.00 |
| Parag Parikh ELSS Tax Saver Fund | 24.13 | 1000.00 |
| Kotak ELSS Tax Saver Fund | 23.66 | 100.00 |
Best Mutual Funds For Senior Citizens
The table below shows the Best Mutual Funds For Senior Citizens based on exit load, i.e., the fee that the AMC charges investors when they exit or redeem their fund units.
| Name | AMC | Exit Load |
| Quant ELSS Tax Saver Fund | Quant Money Managers Limited | 0.00 |
| SBI Long Term Equity Fund | SBI Funds Management Limited | 0.00 |
| DSP ELSS Tax Saver Fund | DSP Investment Managers Private Limited | 0.00 |
| Kotak ELSS Tax Saver Fund | Kotak Mahindra Asset Management Company Limited | 0.00 |
| HDFC Retirement Savings Fund-Equity Plan | HDFC Asset Management Company Limited | 0.00 |
| Mirae Asset ELSS Tax Saver Fund | Mirae Asset Investment Managers (India) Private Limited | 0.00 |
| Tata ELSS Tax Saver Fund | Tata Asset Management Private Limited | 0.00 |
| Axis ELSS Tax Saver Fund | Axis Asset Management Company Ltd. | 0.00 |
| Canara Rob ELSS Tax Saver | Canara Robeco Asset Management Company Limited | 0.00 |
| Parag Parikh ELSS Tax Saver Fund | PPFAS Asset Management Pvt. Ltd. | 0.00 |
Best Mutual Fund For Senior Citizens In India
The table below shows Best Mutual Fund For Senior Citizens In India based on Absolute 1 Year Return and AMC.
| Name | AMC | Absolute Returns – 1Y |
| Quant ELSS Tax Saver Fund | Quant Money Managers Limited | 64.26 |
| SBI Long Term Equity Fund | SBI Funds Management Limited | 62.92 |
| Aditya Birla SL Dividend Yield Fund | Aditya Birla Sun Life AMC Limited | 52.26 |
| HDFC Flexi Cap Fund | HDFC Asset Management Company Limited | 45.86 |
| DSP ELSS Tax Saver Fund | DSP Investment Managers Private Limited | 45.71 |
| ICICI Pru Equity & Debt Fund | ICICI Prudential Asset Management Company Limited | 42.74 |
| Kotak ELSS Tax Saver Fund | Kotak Mahindra Asset Management Company Limited | 42.42 |
| HDFC Retirement Savings Fund-Equity Plan | HDFC Asset Management Company Limited | 41.68 |
| HDFC Balanced Advantage Fund | HDFC Asset Management Company Limited | 41.39 |
| Mirae Asset ELSS Tax Saver Fund | Mirae Asset Investment Managers (India) Private Limited | 39.02 |
Who Should Invest In Mutual Funds For Senior Citizens?
Individuals approaching or in retirement should consider investing in mutual funds for senior citizens. These funds are tailored for those prioritizing capital preservation, steady income, and low-risk investments to maintain financial stability and support their lifestyle without significant exposure to volatile markets.
How To Invest in the Best Mutual Fund For Senior Citizens In India?
To invest in the best mutual fund for senior citizens in India using Alice Blue as your broker, first set up an account with Alice Blue. Research their recommended funds for seniors, consult with their financial advisors, and then invest through their platform according to your financial goals.
Performance Metrics Of Mutual Funds For Senior Citizens
Performance metrics of mutual funds for senior citizens focus on stability and regular income generation. Metrics such as dividend yield, average maturity, and credit quality are essential to ensure the fund maintains low volatility and provides consistent payouts, aligning with the need for financial security.
Furthermore, the Sharpe ratio and expense ratio are crucial indicators. A higher Sharpe ratio suggests better risk-adjusted returns, which is vital for minimizing risk in a senior’s portfolio. Meanwhile, a lower expense ratio helps preserve capital by reducing the cost of investment and maximizing the income retained by investors.
Benefits of Investing in Top Mutual Funds For Senior Citizens
The main benefits of investing in top mutual funds for senior citizens include stable returns, low risk, and regular income, which are crucial for maintaining financial security during retirement.
- Stable Returns: Top funds for seniors focus on delivering stable returns, reducing the risk of significant fluctuations, and preserving capital. This stability is vital for maintaining a predictable financial environment in retirement.
- Low Risk: These funds generally invest in high-quality bonds and conservative equity positions, ensuring lower risk. This strategy is suitable for seniors, who may not have the ability to recover from large financial losses.
- Regular Income: Many senior-specific funds are designed to provide regular income through dividends or interest payments. This regular cash flow can be critical for seniors to cover living expenses without depleting their principal investment.
- Tax Efficiency: Investing in certain mutual funds can offer tax benefits, which are especially advantageous for senior citizens. For example, funds that distribute tax-free dividends or those that offer benefits under Section 80C of the Income Tax Act.
- Liquidity: Senior citizens might require quick access to their funds for emergencies or regular expenses. Mutual funds offer better liquidity compared to other retirement investment options like annuities, allowing withdrawals without heavy penalties.
Challenges Of Investing In Mutual Funds For Senior Citizens
The main challenges of investing in mutual funds for senior citizens include managing lower yields, navigating market volatility, and ensuring sufficient liquidity to meet unexpected expenses.
- Lower Yields: In a low-interest-rate environment, generating sufficient income from conservative investments like those preferred by seniors can be challenging. This may lead to lower-than-expected returns, impacting the ability to sustain living expenses.
- Market Volatility: Even conservative funds are subject to market fluctuations, which can affect fund performance and capital. Seniors must be cautious, as significant downturns could erode their investment value at a time when replenishing it is difficult.
- Inflation Risk: Inflation can diminish the purchasing power of fixed income over time. If the returns on the mutual funds do not keep up with inflation, seniors may find that their income does not cover increasing costs.
- Complexity of Choices: With an array of mutual fund options available, choosing the right one can be overwhelming for seniors. Missteps due to lack of understanding or inadequate advice can lead to inappropriate risk exposure.
- Liquidity Constraints: While mutual funds generally offer liquidity, some funds designed for seniors might have lock-in periods or penalties for early withdrawal. This can be problematic if funds are needed unexpectedly, limiting access to money when it’s most needed.
Introduction to Best Mutual Funds For Senior Citizens
Best Mutual Funds For Senior Citizens – AUM, NAV, and Minimum SIP.
HDFC Balanced Advantage Fund
HDFC Balanced Advantage Fund Direct Plan-Growth is a Hybrid Mutual Fund Scheme launched by HDFC Mutual Fund. This scheme was made available to investors on 10 Dec 1999.
The HDFC Balanced Advantage Fund, categorized as a Balanced Advantage Fund, manages assets totaling ₹79,875.08 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 19.42%. Investors should be aware of a 1% exit load and an expense ratio of 0.72%. Additionally, this fund falls under the SEBI risk category of Very High, indicating a significant level of risk associated with this investment option. The asset allocation of this fund includes 55.4% in equity, 27.8% in debt, and 15.3% in other asset categories.
ICICI Pru Balanced Advantage Fund
ICICI Prudential Balanced Advantage Direct-Growth is a Hybrid Mutual Fund Scheme launched by ICICI Prudential Mutual Fund. This scheme was made available to investors on 12 Oct 1993.
The ICICI Pru Balanced Advantage Fund, classified as a Balanced Advantage Fund, manages assets totaling ₹55,229.33 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 13.56%. Investors should note a 1% exit load and an expense ratio of 0.81%. Additionally, this fund falls under the SEBI risk category of High, indicating a significant level of risk associated with this investment option. The asset distribution for this fund consists of 47.8% in equities, 26.9% in debt, and 22.2% in other types of assets.
HDFC Flexi Cap Fund
HDFC Flexi Cap Direct Plan-Growth is an Equity Mutual Fund Scheme launched by HDFC Mutual Fund. This scheme was made available to investors on 10 Dec 1999.
The HDFC Flexi Cap Fund, categorized as a Flexi Cap Fund, manages assets totaling ₹49,656.92 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 20.65%. Investors should be aware of a 1% exit load and an expense ratio of 0.78%. Additionally, this fund falls under the SEBI risk category of Very High, indicating a significant level of risk associated with this investment option. This fund’s asset allocation comprises 87.5% in equities, 0.4% in debt securities, and 8.5% in other asset categories.
Mutual Funds For Senior Citizens – Lowest to highest expense ratio.
Axis Short Term Fund
Axis Short Term Direct Fund Growth is a Debt Mutual Fund Scheme launched by Axis Mutual Fund. This scheme was made available to investors on 04 Sep 2009.
The Axis Short Term Fund, categorized as a Short Duration Fund, manages assets totaling ₹8,277.91 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 7.34%. This fund does not have any exit load and maintains an expense ratio of 0.34%. Additionally, it falls under the SEBI risk category of Moderate, indicating a moderate level of risk associated with this investment option. The fund’s asset allocation includes 97.2% in equities, 0% in debt, and 2.8% in other types of investments.
HDFC Short Term Debt Fund
HDFC Short Term Debt Fund Direct Plan-Growth is a Debt Mutual Fund Scheme launched by HDFC Mutual Fund. This scheme was made available to investors on 10 Dec 1999.
The HDFC Short Term Debt Fund, categorized as a Short Duration Fund, manages assets totaling ₹12,914.99 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 7.37%. This fund does not have any exit load and maintains an expense ratio of 0.37%. Additionally, it falls under the SEBI risk category of Moderate, indicating a moderate level of risk associated with this investment option. This fund allocates 97.2% of its assets to equities, none to debt, and 2.8% to various other investment categories.
ICICI Pru Ultra Short Term Fund Fund
ICICI Prudential Ultra Short Term Fund Direct-Growth is a Debt Mutual Fund Scheme launched by ICICI Prudential Mutual Fund. This scheme was made available to investors on 12 Oct 1993.
The ICICI Pru Ultra Short Term Fund, classified as an Ultra Short Duration Fund, manages assets totaling ₹12,179.84 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 6.61%. This fund does not have any exit load and maintains an expense ratio of 0.39%. Additionally, it falls under the SEBI risk category of Moderate, indicating a moderate level of risk associated with this investment option. This fund’s asset allocation is 86.5% in equities, 0% in debt, and 13.5% in other asset types.
Top Mutual Funds For Senior Citizens – The Highest 3Y CAGR.
Quant ELSS Tax Saver Fund
Quant ELSS Tax Saver Fund Direct-Growth is an Equity Mutual Fund Scheme launched by Quant Mutual Fund. This scheme was made available to investors on 15 Apr 1996.
The Quant ELSS Tax Saver Fund, categorized as an Equity Linked Savings Scheme (ELSS), manages assets totaling ₹7,769.92 Crore. Over the past five years, it has shown a Compound Annual Growth Rate (CAGR) of 34.23%. This fund does not have any exit load and maintains an expense ratio of 0.76%. Additionally, it falls under the SEBI risk category of Very High, indicating substantial risk associated with this investment option. The fund’s asset distribution includes 98.3% in equities, 0% in debt, and 1.7% in other types of investments.
SBI Long Term Equity Fund
SBI Long Term Equity Fund Direct Plan Growth is an Equity Mutual Fund Scheme launched by SBI Mutual Fund. This scheme was made available to investors on 29 Jun 1987.
The SBI Long Term Equity Fund, classified as an Equity Linked Savings Scheme (ELSS), manages assets totaling ₹21,976.26 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 22.66%. This fund does not have any exit load and maintains an expense ratio of 0.96%. Additionally, it falls under the SEBI risk category of Very High, indicating a significant level of risk associated with this investment option. This fund allocates 90.2% of its assets to equities, 0% to debt, and 9.8% to other types of investments.
HDFC Retirement Savings Fund-Equity Plan
HDFC Retirement Savings Fund Equity Plan Direct-Growth is a Solution Oriented Mutual Fund Scheme launched by HDFC Mutual Fund. This scheme was made available to investors on 10 Dec 1999.
The HDFC Retirement Savings Fund-Equity Plan, categorized as a Solution Oriented – Retirement Fund, manages assets totaling ₹4,830.28 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 23.16%. This fund does not have any exit load and maintains an expense ratio of 0.68%. Additionally, it falls under the SEBI risk category of Very High, indicating a significant level of risk associated with this investment option. The fund’s asset allocation is 89.7% in equities, 0% in debt, and 9.3% in other investment categories.
Best Mutual Funds For Senior Citizens – Exit load
Kotak ELSS Tax Saver Fund
Kotak ELSS Tax Saver Fund Direct-Growth is an Equity Mutual Fund Scheme launched by Kotak Mahindra Mutual Fund. This scheme was made available to investors on 05 Aug 1994.
The Kotak ELSS Tax Saver Fund, classified as an Equity Linked Savings Scheme (ELSS), manages assets totaling ₹5,050.36 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 20.82%. This fund does not impose any exit load and maintains an expense ratio of 0.56%. Furthermore, it falls under the SEBI risk category of Very High, indicating significant risk associated with this investment option. The fund’s asset allocation comprises predominantly equity at 97.6%, with negligible presence in debt at 0%, and a minor allocation of 2.4% to other asset classes.
Canara Robeco ELSS Tax Saver
Canara Robeco ELSS Tax Saver Direct-Growth is an Equity Mutual Fund Scheme launched by Canara Robeco Mutual Fund. This scheme was made available to investors on 19 Dec 1987.
The Canara Robeco ELSS Tax Saver Fund, categorized as an Equity Linked Savings Scheme (ELSS), manages assets totaling ₹7,332.91 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 20.22%. This fund does not charge any exit load and maintains an expense ratio of 0.62%. Additionally, it falls under the SEBI risk category of Very High, indicating significant risk associated with this investment option. The fund’s asset allocation is primarily in equities at 96.2%, with no allocation to debt, while 3.8% is allocated to other asset classes.
Parag Parikh ELSS Tax Saver Fund
Parag Parikh ELSS Tax Saver Fund Direct-Growth is an Equity Mutual Fund Scheme launched by PPFAS Mutual Fund. This scheme was made available to investors on 10 Oct 2012.
The Parag Parikh ELSS Tax Saver Fund, categorized as an Equity Linked Savings Scheme (ELSS), manages assets totaling ₹3,174.82 Crore. Over the past five years, it has experienced a Compound Annual Growth Rate (CAGR) of 0%. This fund does not have any exit load and maintains an expense ratio of 0.69%. Additionally, it falls under the SEBI risk category of Very High, indicating significant risk associated with this investment option. The fund allocates 82% of its assets to equities, 17.8% to debt securities, and a minor portion of 0.3% to other investment instruments, diversifying across various asset classes.
Best Mutual Fund For Senior Citizens In India – Absolute 1-Year Return
SBI Long Term Equity Fund
SBI Long Term Equity Fund Direct Plan Growth is an Equity Mutual Fund Scheme launched by SBI Mutual Fund. This scheme was made available to investors on 29 June 1987
The SBI Long Term Equity Fund, an Equity Linked Savings Scheme (ELSS), manages assets worth ₹21,976.26 Crore. Over the past five years, it has achieved a Compound Annual Growth Rate (CAGR) of 22.66%. This fund doesn’t impose any exit load and maintains an expense ratio of 0.96%. Furthermore, it falls under the SEBI risk category of Very High, indicating significant risk associated with this investment. This fund’s asset allocation consists of 90.2% in equities, 0% in debt, and 9.8% allocated to other types of assets.
Aditya Birla Sun Life Dividend Yield Fund
Aditya Birla Sun Life Dividend Yield Fund Direct Growth is an Equity Mutual Fund Scheme launched by Aditya Birla Sun Life Mutual Fund. This scheme was made available to investors on 23 Dec 1994.
The Aditya Birla SL Dividend Yield Fund, categorized as a Dividend Yield Fund, manages assets totaling ₹1,271.17 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 21.70%. Investors should be aware of a 1% exit load and an expense ratio of 1.49%. Additionally, this fund falls under the SEBI risk category of Very High, indicating significant risk associated with this investment option. The fund allocates 97.0% of its assets to equities, none to debt, and 3.0% to various other asset categories.
DSP ELSS Tax Saver Fund
DSP ELSS Tax Saver Direct Plan-Growth is an Equity Mutual Fund Scheme launched by DSP Mutual Fund. This scheme was made available to investors on 16 Dec 1996.
The DSP ELSS Tax Saver Fund, categorized as an Equity Linked Savings Scheme (ELSS), manages assets totaling ₹14,075.56 Crore. Over the past five years, it has demonstrated a Compound Annual Growth Rate (CAGR) of 20.82%. This fund does not impose any exit load and maintains an expense ratio of 0.79%. Additionally, it falls under the SEBI risk category of Very High, indicating significant risk associated with this investment option. This fund’s asset allocation includes 97.4% in equities, 0% in debt, and 2.6% in other investment types.
Top Mutual Funds For Senior Citizens – FAQ
Best Mutual Funds For Senior Citizens # 1:HDFC Balanced Advantage Fund
Best Mutual Funds For Senior Citizens # 2: ICICI Pru Balanced Advantage Fund
Best Mutual Funds For Senior Citizens # 3: HDFC Flexi Cap Fund
Best Mutual Funds For Senior Citizens # 4: SBI BlueChip Fund
Best Mutual Funds For Senior Citizens # 5: ICICI Pru Multi-Asset Fund
These funds are listed based on the Highest AUM.
Based on 1 Year returns, Top Mutual Funds for Senior Citizens: Quant ELSS Tax Saver, SBI Long Term Equity, Aditya Birla SL Dividend Yield, HDFC Flexi Cap, and DSP ELSS Tax Saver Funds offer tax benefits and diverse investment opportunities.
A 70-year-old can invest in mutual funds, particularly those designed for senior citizens, offering stable returns and low risk. It’s important to choose funds that provide liquidity and align with their current financial needs.
Investing in mutual funds for senior citizens is beneficial as they offer stability, regular income, and low risk, which are crucial for managing finances effectively during retirement and maintaining a comfortable lifestyle.
To invest in the best mutual funds for senior citizens, open an account with a registered broker like Alice Blue. Research funds that focus on stability and regular income, consult a financial advisor and execute transactions through the Alice Blue platform.
Here are some of the Best Stock Research Articles listed based on Top Sectors (Industries), Market Cap, and Fundamental Analysis Factors:
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
