DSP Mutual Fund

DSP Mutual Fund was launched in 1997, but its story goes back much further than its mutual fund business. The DSP family entered the financial sector in 1860. Over the years, the business has gone through partnerships with Merrill Lynch and BlackRock before it became DSP Mutual Fund in 2018. Today, the fund house offers active and passive products across multiple categories.

Here’s a quick overview of the DSP MF:

Data as of 31 August, 2026.

DSP Mutual Fund is known for putting the investment process ahead of short-term market calls. This is visible in the way its fund managers document their investment frameworks. For example, its approach looks at growth, business quality, return on equity, and valuation together. It also looks for companies with strong competitive advantages and healthy cash generation.

The fund house has a dedicated Quantitative Investment and Analytics (QIA) function and a separate passive-investments team. Its DSP Quant Fund uses a rules-based model and filters out companies with issues such as high leverage or accounting concerns.

Its investment leadership changed in April 2026 when Anish Tawakley became CIO, overseeing equity and fixed income. He is focused on bringing greater alignment across asset classes while strengthening research and risk management.

DSP offers a broad product range with 88 schemes as per the August 2026 factsheet. It has traditional active funds alongside ETFs, index funds, and fund-of-funds. This gives you options beyond simply choosing between equity and debt funds. Here’s how the 88 schemes are classified:

DSP’s passive funds include ETFs and index funds that track broad-market indices and areas such as IT, healthcare, banking, along with equal-weight strategies.

DSP’s active range includes diversified funds, sectoral funds, thematic funds, and a quantitative strategy. So DSP is not only an active equity fund house. If you prefer rules-based investing, you can find many products that simply aim to track an index.

DSP MF schemes operate within the regulatory framework set by SEBI. Your money is invested according to the objectives of the scheme. The AMC handles the investments. The trustee acts in the interest of unit holders and oversees whether the fund is functioning as per the rules.

The fund’s investments are kept separate from the AMC’s own assets. They are held separately with a custodian. So the whole process around mutual fund schemes is safe. However, safe does not mean that your investment can earn guaranteed returns. Your investment value can fluctuate depending on market conditions.

The risk can also vary across DSP MF schemes. An equity fund can carry more risk than short-term debt funds. So although its schemes are regulated investment products, the level of risk depends on the scheme you choose.

Looking at past performance tells you how the AMC’s schemes have performed against their category peers. Here’s a list of some of the DSP mutual fund schemes that have beaten their respective category’s 3-year and 5-year averages.

3-year returns vs category comparison

5-year returns vs category comparison

Note: This list just mentions some of the DSP schemes. It is not an exhaustive list. The 3-year and 5-year returns tell you how the fund has performed over time. They do not predict future returns. Actual future returns can be different.

While searching for the top DSP mutual funds to invest in, don’t simply rely on the historical returns. There are other important considerations before you shortlist funds. Here’s the process you can follow:

• Start with your goal: Your goal could be buying a dream car, planning a vacation, or building long-term wealth. Each goal can point you towards a different type of fund.
• Then look at your time frame: Equity funds suit longer-term goals, but they are more volatile, whereas some debt funds suit shorter-term goals and offer lower returns.
• Fix the level of risk you can take: If you stop your SIP based on a sharp market correction, then perhaps your fund has a higher risk profile than your appetite. Risks should be under your comfort level.

Once these points are clear, choose the fund category that fits your needs. Then compare DSP MF schemes within that category to pick a suitable fund.

You can invest in DSP SIP plans or make a lump-sum investment on Millions within minutes. Download the Millions app from the Google Play Store or iOS App Store, create a free account, and complete your KYC. After that:

1. Go to the ‘MF’ tab on the dashboard.
2. Search for ‘DSP Mutual Funds’.
3. Choose the scheme you wish to explore.
4. Check its latest NAV, performance, holdings, fund managers, and scheme document to see if it matches your requirements.
5. Once ready, tap ‘SIP’ or ‘One-time’, depending on how you want to invest.
6. Enter the amount. For SIP, select the frequency and debit date.
7. Verify the accuracy of all the details and tap ‘Invest Now’.
8. Enter OTP to authorise your payment. And you’re done!

For most DSP mutual fund schemes, the minimum investment on the Millions app is ₹100 for SIPs and one-time payments. However, this amount can vary by scheme. Check the ‘Scheme Snapshot’ before investing.

If you are considering regular investing, you can use the SIP Calculator to estimate how your investment may grow based on the SIP amount, investment period, and expected return. The result is only an estimate, so actual returns can be different.

However, to improve your net return, you can consider a Direct Plan, which generally has a lower expense ratio than the Regular Plan. Compare the scheme and its costs before deciding.