Best Mutual Funds For Senior Citizens

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	94865.7	546.85	100
HDFC Flexi Cap Fund	64928.6	2072.51	100
ICICI Pru Balanced Advantage Fund	60544.9	77.82	100
ICICI Pru Multi-Asset Fund	50648.5	773.88	100
SBI BlueChip Fund	50446.9	99.96	500
ICICI Pru Equity & Debt Fund	40203.4	411.31	100
Axis ELSS Tax Saver Fund	36533.1	107.66	500
HDFC Top 100 Fund	36467.3	1217.77	100
Axis Bluechip Fund	33236.3	68.3	100
SBI Long Term Equity Fund	27559.3	471.84	500

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 Duration Fund	0.36	1000
ICICI Pru Ultra Short Term Fund Fund	0.39	1000
HDFC Short Term Debt Fund	0.4	100
Kotak Debt Hybrid Fund	0.45	100
SBI Multi Asset Allocation Fund	0.51	500
Canara Rob ELSS Tax Saver	0.54	500
Quant ELSS Tax Saver Fund	0.59	500
Mirae Asset ELSS Tax Saver Fund	0.61	500
Kotak ELSS Tax Saver Fund	0.61	500
SBI Conservative Hybrid Fund	0.62	500

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
SBI Long Term Equity Fund	26.42	500
HDFC Flexi Cap Fund	26.05	100
Aditya Birla SL Dividend Yield Fund	24	100
HDFC Balanced Advantage Fund	23.45	100
HDFC Retirement Savings Fund-Equity Plan	21.94	100
DSP ELSS Tax Saver Fund	21.41	500
ICICI Pru Multi-Asset Fund	20.9	100
ICICI Pru Equity & Debt Fund	20.8	100
Quant ELSS Tax Saver Fund	20.59	500
Kotak ELSS Tax Saver Fund	20.02	500

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
HDFC Flexi Cap Fund	HDFC Asset Management Company Limited	1
Aditya Birla SL Dividend Yield Fund	Aditya Birla Sun Life AMC Limited	1
HDFC Balanced Advantage Fund	HDFC Asset Management Company Limited	1
ICICI Pru Multi-Asset Fund	ICICI Prudential Asset Management Company Limited	1
ICICI Pru Equity & Debt Fund	ICICI Prudential Asset Management Company Limited	1
HDFC Top 100 Fund	HDFC Asset Management Company Limited	1
SBI Multi Asset Allocation Fund	SBI Funds Management Limited	1
SBI BlueChip Fund	SBI Funds Management Limited	1
HDFC Hybrid Equity Fund	HDFC Asset Management Company Limited	1
ICICI Pru Balanced Advantage Fund	ICICI Prudential Asset Management Company Limited	1

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
SBI Long Term Equity Fund	SBI Funds Management Limited	39.44
DSP ELSS Tax Saver Fund	DSP Investment Managers Private Limited	35.45
HDFC Flexi Cap Fund	HDFC Asset Management Company Limited	33.02
Aditya Birla SL Dividend Yield Fund	Aditya Birla Sun Life AMC Limited	31.16
Kotak ELSS Tax Saver Fund	Kotak Mahindra Asset Management Company Limited	30.9
Tata ELSS Tax Saver Fund	Tata Asset Management Private Limited	28.75
Mirae Asset ELSS Tax Saver Fund	Mirae Asset Investment Managers (India) Private Limited	28.54
Canara Rob ELSS Tax Saver	Canara Robeco Asset Management Company Limited	28.04
HDFC Retirement Savings Fund-Equity Plan	HDFC Asset Management Company Limited	27
Parag Parikh ELSS Tax Saver Fund	PPFAS Asset Management Pvt. Ltd.	26.12

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 Dynamic Asset Allocation mutual fund scheme from Hdfc Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013.

HDFC Balanced Advantage Fund, a Balanced Advantage Fund category, has Assets Under Management (AUM) of Rs. 94865.7 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 21.19%. The fund has no exit load and an expense ratio of 0.74. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 51.72% Equity, 30.13% Debt, 18.15% in Others.

HDFC Flexi Cap Fund

HDFC Flexi Cap Direct Plan-Growth is a Flexi Cap mutual fund scheme from Hdfc Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

HDFC Flexi Cap Fund, a Flexi Cap Fund category, has Assets Under Management (AUM) of Rs. 64928.6 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 24.06%. The fund has no exit load and an expense ratio of 0.77. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 87.81% Equity, 0.78% Debt, 11.41% in Others.

ICICI Pru Balanced Advantage Fund

ICICI Prudential Balanced Advantage Direct-Growth is a Dynamic Asset Allocation mutual fund scheme from Icici Prudential Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

ICICI Pru Balanced Advantage Fund, a Balanced Advantage Fund category, has Assets Under Management (AUM) of Rs. 60544.9 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 13.84%. The fund has no exit load and an expense ratio of 0.87. It is classified under the Moderate-risk category by SEBI.

The actual asset composition includes : 46.83 Equity, 19.9% Debt, 33.26% in Others.

Mutual Funds For Senior Citizens – Lowest to highest expense ratio.

Axis Short Duration Fund

Axis Short Duration Fund Direct Fund-Growth is a Short Duration mutual fund scheme from Axis Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013.

Axis Short Duration Fund, a Short Duration Fund category, has Assets Under Management (AUM) of Rs. 9328.75 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 7.03%. The fund has no exit load and an expense ratio of 0.36. It is classified under the Moderate-risk category by SEBI.

The actual asset composition includes : No Equity, 98.27% Debt, 1.73% in Others.

ICICI Pru Ultra Short Term Fund Fund

ICICI Prudential Ultra Short Term Fund Direct-Growth is an Ultra Short Duration mutual fund scheme from Icici Prudential Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

ICICI Pru Ultra Short Term Fund, an Ultra Short Duration Fund category, has Assets Under Management (AUM) of Rs. 14550.9 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 6.40%. The fund has no exit load and an expense ratio of 0.39. It is classified under the Moderate-risk category by SEBI.

The actual asset composition includes : No Equity, 85.77% Debt, 14.23% in Others.

HDFC Short Term Debt Fund

HDFC Short Term Debt Fund Direct Plan-Growth is a Short Duration mutual fund scheme from Hdfc Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013.

HDFC Short Term Debt Fund, a Short Duration Fund category, has Assets Under Management (AUM) of Rs. 14975.8 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 7.10%. The fund has no exit load and an expense ratio of 0.40. It is classified under the Moderate-risk category by SEBI.

The actual asset composition includes : No Equity, 96.31% Debt, 3.69% in Others.

Top Mutual Funds For Senior Citizens – The Highest 3Y CAGR.

SBI Long Term Equity Fund

SBI Long Term Equity Fund Direct Plan-Growth is a ELSS mutual fund scheme from Sbi Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013.

SBI Long Term Equity Fund, a Equity Linked Savings Scheme (ELSS) category, has Assets Under Management (AUM) of Rs. 27559.3 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 25.88%. The fund has no exit load and an expense ratio of 0.94. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 90.9% Equity, No Debt, 9.1% in Others.

Aditya Birla SL Dividend Yield Fund

Aditya Birla Sun Life Dividend Yield Fund Direct-Growth is a Dividend Yield mutual fund scheme from Aditya Birla Sun Life Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

Aditya Birla SL Dividend Yield Fund, a Dividend Yield Fund category, has Assets Under Management (AUM) of Rs. 1539.79 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 24.88%. The fund has no exit load and an expense ratio of 1.42. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 96.98 Equity, No Debt, 3.02% in Others.

HDFC Retirement Savings Fund-Equity Plan

HDFC Retirement Savings Fund Equity Plan Direct-Growth is a Retirement Solutions mutual fund scheme from Hdfc Mutual Fund. This fund has been in existence for 8 years 10 months, having been launched on 05/02/2016. 

HDFC Retirement Savings Fund-Equity Plan, a Flexi Cap Fund category, has Assets Under Management (AUM) of Rs. 5970.04 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 25.67%. The fund has no exit load and an expense ratio of 0.71. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 91.83% Equity, No Debt, 8.17% in Others.

Best Mutual Funds For Senior Citizens – Exit load

ICICI Pru Multi-Asset Fund

ICICI Prudential Multi Asset Fund Direct-Growth is a Multi Asset Allocation mutual fund scheme from Icici Prudential Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

ICICI Pru Multi-Asset Fund, a Multi Asset Allocation Fund category, has Assets Under Management (AUM) of Rs. 50648.5 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 21.59%. The fund has no exit load and an expense ratio of 0.70. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 48.82% Equity, 14.83% Debt, 36.35% in Others.

ICICI Pru Equity & Debt Fund

ICICI Prudential Equity & Debt Fund Direct-Growth is a Aggressive Hybrid mutual fund scheme from Icici Prudential Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

ICICI Pru Equity & Debt Fund, an Aggressive Hybrid Fund category, has Assets Under Management (AUM) of Rs. 40203.4 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 22.48%. The fund has no exit load and an expense ratio of 0.98. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 69.32% Equity, 23.03% Debt, 7.65% in Others.

HDFC Top 100 Fund

HDFC Top 100 Fund Direct Plan-Growth is a Large Cap mutual fund scheme from Hdfc Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

HDFC Top 100 Fund, a Large Cap Fund category, has Assets Under Management (AUM) of Rs. 36467.3 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 18.53%. The fund has no exit load and an expense ratio of 1.01. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 96.96% Equity, No Debt, 3.04% in Others.

Best Mutual Fund For Senior Citizens In India – Absolute 1-Year Return

DSP ELSS Tax Saver Fund

DSP ELSS Tax Saver Direct Plan-Growth is a ELSS mutual fund scheme from Dsp Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013.

DSP ELSS Tax Saver Fund, an Equity Linked Savings Scheme (ELSS) category, has Assets Under Management (AUM) of Rs. 16841.5 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 23.15%. The fund has no exit load and an expense ratio of 0.75. It is classified under the Very high-risk category by SEBI.

The actual asset composition includes : 97.06% Equity, No Debt, 2.94% in Others.

Kotak ELSS Tax Saver Fund

Kotak ELSS Tax Saver Fund Direct-Growth is an ELSS mutual fund scheme from Kotak Mahindra Mutual Fund. This fund has been in existence for 11 years 11 months, having been launched on 01/01/2013. 

Kotak ELSS Tax Saver Fund, an Equity Linked Savings Scheme (ELSS) category, has Assets Under Management (AUM) of Rs. 6148.14 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 22.21%. The fund has no exit load and an expense ratio of 0.61. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 98.51% Equity, No Debt, 1.49% in Others.

Tata ELSS Tax Saver Fund

Tata ELSS Tax Saver Fund Direct-Growth is a ELSS mutual fund scheme from Tata Mutual Fund. This fund has been in existence for 10 years 1 months, having been launched on 13/10/2014. 

Tata ELSS Tax Saver Fund, a Equity Linked Savings Scheme (ELSS) category, has Assets Under Management (AUM) of Rs. 4680.1 Cr. It boasts a 5-year Compound Annual Growth Rate (CAGR) of 18.51%. The fund has no exit load and an expense ratio of 0.72. It is classified under the Very High-risk category by SEBI.

The actual asset composition includes : 96.34% Equity, No Debt, 3.66% in Others.

Top Mutual Funds For Senior Citizens – FAQ

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