Best mutual funds to buy: From SBI Small-cap, Mirae Asset Large-cap to ICICI Prudential Equity, check top 5 recommendations

Best mutual funds to buy is a top search for the majority of mutual fund investors. However, when we approach the end of the year, this search goes higher as people want to start fresh investments or even try and get tax sops for the same. We consulted Mumbai-based tax and investment expert Balwant Jain to let our readers know about the best mutual funds to buy in 2020.

Speaking on the best mutual funds to buy, Jain said, "Mutual funds investment are subject to investment goal and time-horizon. If someone is looking for an investment for 10 years or above, then mid-cap mutual funds or small-cap mutual funds are advisable for such investors. However, for those who want to invest for a period of 5 years to 7 years, he or she should go for the Aggressive Hybrid Fund or Balance Fund. For 7-10 years investment horizon, Long-term mutual funds are advisable." 

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However, he said that sometimes people do mutual fund investment in the month of January to save income tax too. So, ELSS Mutual Funds are also a category in which they can invest at the beginning of the new year.

Asked about best mutual fund plans to invest in, Jain named category-wise plans for investors. Check best mutual funds to invest in below:

1] Small-cap: SBI Small-cap fund;

2] Large-cap: Mirae Asset Large-cap Fund;

3] Aggressive Hybrid Fund: ICICI Prudential Equity and Debt Fund;

4] Mid-cap: Kotak Emerging Equity Fund;

5] Tax Saving fund: Axis Long-term Equity Fund.

These, according to Jain, are the top 5 mutual funds to buy in 2020.