Mutual funds have gained the trust of investors due to their impressive returns.
One of the most popular ways to invest in these funds is through a Systematic Investment Plan (SIP).
Introduced in India in 1993 by Franklin Templeton Mutual Fund (previously known as Kothari Pioneer), SIPs have allowed common investors to grow their wealth by investing small amounts regularly.
Over the last 30 years, several mutual fund schemes have turned small investments into large fortunes.
Here are eight such funds that have helped investors become millionaires.
1. Franklin India Prima Fund
Originally named Kothari Pioneer Prima, this fund was launched on December 1, 1993. With an Asset Under Management (AUM) of Rs 12,529 crore, this midcap fund has provided a 21.4% return (XIRR) over 30 years.
If you had started a SIP of Rs 1,000 per month in September 1994, your investment would have grown to Rs 2.1 crore today.
2. Franklin India Flexicap Fund
This flexicap fund, launched on September 29, 1994, has an AUM of Rs 17,417 crore.
A monthly SIP of Rs 1,000 starting in September 1994 would have grown to Rs 1.7 crore today, with a 20.5% return (XIRR) over 30 years.
3. SBI Long Term Equity Fund
Previously known as SBI Magnum Taxgain, this tax fund was launched on March 31, 1993, and has an AUM of Rs 27,517 crore.
A Rs 1,000 SIP starting in September 1994 would now be worth Rs 1.37 crore, delivering a 19.3% return (XIRR) over 30 years.
4. Franklin India Bluechip Fund
Launched on December 1, 1993, as Kothari Pioneer Bluechip, this large-cap fund has an AUM of Rs 8,257 crore.
A Rs 1,000 SIP starting in September 1994 would have grown to Rs 1.2 crore today, with an 18.6% return (XIRR) over 30 years.
5. ICICI Prudential Multicap Fund
This multicap fund, initially called ICICI Prudential Top 200, was launched on October 1, 1994.
With an AUM of Rs 13,921 crore, a Rs 1,000 SIP from September 1994 would now be worth Rs 1.05 crore, offering an 18.1% return (XIRR) over 30 years.
6. HDFC Capital Builder Value Fund
Formerly known as HDFC Capital Builder, this value fund was launched on February 1, 1994, and has an AUM of Rs 7,608 crore.
A Rs 1,000 SIP from September 1994 would now be Rs 1.06 crore, with an 18% return (XIRR) over 30 years.
7. SBI Large & Midcap Fund
Launched on February 28, 1993, as SBI Magnum Multiplier Plus, this large and midcap fund has an AUM of Rs 27,382 crore.
A Rs 1,000 SIP from September 1994 would have grown to Rs 93 lakh, providing a 17.4% return (XIRR) over 30 years.
8. Canara Robeco ELSS Tax Saver
Initially named CAN Equity Tax Saver, this tax fund was launched on March 31, 1993, with an AUM of Rs 8,876 crore.
A Rs 1,000 SIP from September 1994 would now be worth Rs 73.4 lakh, yielding a 16.2% return (XIRR) over 30 years.
These funds demonstrate the power of long-term investing and the potential of SIPs to transform modest investments into significant wealth.
