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New Delhi. There are many ways to invest in the stock market. One of the most popular ways is to invest in mutual funds. You can become a millionaire by investing in the right mutual fund. One such fund is SBI Long Term Equity Fund. This scheme of the country's leading fund house SBI Mutual Fund has made SIP investors millionaires in 17 years.
In this mutual fund scheme, if an investor had started a monthly SIP of Rs 10,000 17 years ago, today he would have a corpus of Rs 1,00,09,049, which would have included an annual return of 16.69 percent. It is worth noting that the total investment amount of the investor in 17 years is only Rs 20,40,000 and the rest would have been earned through compound interest and returns.
Where has the scheme invested?
The assets under management (AUM) of this fund is Rs 27,559 crore as on October 31, 2024. The top 5 stocks of the fund include HDFC Bank, Reliance Industries, ICICI Bank, Bharti Airtel and Torrent Power.
The scheme was launched in 1993
This scheme was launched in March 1993. It is an ELSS scheme, which is also a tax saving tool. SBI Long Term Equity Fund has given a return of 38.44% in the last 1 year, 25.57% in the last 5 years and 14.98% in the last 10 years. This scheme of SBI Mutual Fund has given a great return of 17.32% since its launch.
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