Nippon India Growth Fund (Earlier known as Reliance India Growth Fund)- A hidden gem in the midcap category of mutual funds has completed 27 years since its launch.
We often come across extraordinary returns of a particular stock like ITC, Infosys, TCS, etc. but never have we given a thought to mutual funds being multibaggers. One of India’s oldest mutual funds in the midcap category, this fund has performed exceptionally well over the years, matching the returns of some famous multibaggers. Launched in October 1995 at a NAV Rs. 10, this fund has achieved a NAV of 2,205 as of September 9, 2022.
A simple SIP of Rs. 1000 in this fund since inception would have created a corpus of Rs. 1.37 crores (on a nominal investment of Rs. 3.23 lacs only) with XIRR 22.3% and absolute returns 4,000%. MIND BLOWING? This is the power of compounding and of course, patience.
We can not go back to change our past but we can surely take steps to secure our future.
