Best funds to invest in Indian equity
Updated:
22 APR, 2026
Emerging markets. Its combination of economic expansion, structural reforms, and business dynamism has turned the country into one of the most attractive markets of the last decade; that's why the Indian stock market has caught the attention of investors worldwide.
In a global context marked by the search for diversification and growth, we discover what opportunities there are to invest in the country's equity market. Next, we show you what are the best funds to invest in Indian equities. All strategies have achieved returns above 10% during this period.
3 funds to invest in Indian equities
India is shaping up as one of the main protagonists of global growth in the coming decades, following a trajectory reminiscent of China in the 2000s or Japan in the 60s.
With forecasts pointing to it becoming the third largest economy in the world in the coming years, some investment funds have been able to capitalize on this potential better than others.
How do we select these funds?
The following investment funds that invest in Indian equities have been selected based on the highest returns achieved in the last 5 years —according to data from Morningstar—, among those whose base currency is the euro. The data was collected on April 20, 2026.
| Investment Fund | ISIN | YTD Return | 3-Year Return | 5-Year Return |
|---|---|---|---|---|
| Jupiter India Select | LU0946219846 | -9.69% | 16.40% | 16.25% |
| Robeco Indian Equities | LU0971565493 | -7,12% | 7,30% | 14.50% |
| Morgan Stanley Investment Funds - Indian Equity Fund | LU0266116010 | -7,38% | 9,26% | 10,18% |
Source: Morningstar as of April 20, 2026.
Jupiter India Select
The Jupiter India Select fund, managed by Avinash Vazirani and Colin Croft of Jupiter Asset Management, aims to outperform the MSCI India index in the long term, a goal it addresses through a clearly defined strategy that is far from traditional market constraints.
The management team focuses its philosophy on capital appreciation by investing mainly in Indian companies, but without subjecting itself to the usual limits of indices, styles or capitalization. This flexibility translates into the application of a GARP (Growth at a Reasonable Price) approach, which seeks to identify companies with solid structural growth that, at the same time, trade at attractive valuations.
This process results in a diversified portfolio that consistently presents more contained multiples than the benchmark index —whether in terms of P/E, price/cash flow or price/book value— without giving up comparable or even superior earnings growth. In other words, the fund aspires to combine growth and discipline in valuation, a key equation in emerging markets.
The managers prioritize companies with sustained cash generation, attractive returns on capital, solid balances and, especially, valuations that justify their growth potential. The result is a balanced exposure to different sectors and company sizes, capturing multiple growth drivers within the Indian economy.
From a historical perspective, the fund has stood out for maintaining significantly lower valuations than the market and much of its competitors, which reinforces its differential positioning within the universe of Indian equities.
"India is an extremely attractive country for investment. Not only does it offer investors access to one of the fastest growing economies on the planet, it is also a broad and diverse market, with over 5,000 listed companies and nearly 500 companies with market capitalizations exceeding $1 billion", state Avinash Vazirani and Colin Croft, managers of the Jupiter India Select fund.
Robeco Indian Equities
The Robeco Indian Equities fund positions itself as an active management strategy aimed at leveraging the structural dynamism of the Indian economy through a portfolio focused on listed equity. Its goal is clear: to beat the market through a selection of values based on rigorous fundamental analysis.
The strategy relies on identifying companies with solid fundamentals, capable of benefiting from the major trends that are transforming India, such as the growth of domestic consumption and infrastructure development. This disciplined approach allows the fund to build a portfolio with a bias towards large-cap companies, complemented with selective opportunities in the mid-cap segment with high conviction.
One of the differentiating elements of the fund is the combination of local knowledge and global capabilities. The management is carried out by the Robeco Asia-Pacific equity team, based in Hong Kong, which integrates an average of 13 years of experience per professional and a wide track record in international markets. This team adapts its analysis of the Indian market to a broader context, incorporating regional and global factors in decision-making.
To this vision is added the support of the local advisor Canara Robeco, based in Mumbai, which provides a deep understanding of the terrain and direct access to the dynamics of the domestic market. This collaboration allows the fund to combine proximity and perspective, a key factor in a market as diverse and evolving as the Indian one.
Together, Robeco Indian Equities offers a balanced proposition: exposure to one of the emerging markets with the greatest growth potential, backed by a structured investment process and an effective combination of local and international experience.
Morgan Stanley Investment Funds - Indian Equity Fund
The Morgan Stanley Investment Funds – Indian Equity fund presents itself as a consolidated strategy within the universe of emerging equities, with a clear focus on long-term capital appreciation through investment in companies linked to the Indian economy.
At the helm of management is Amay Hattangadi, Co-Head of Emerging Markets Equity at Morgan Stanley Investment Management, who has nearly three decades of experience in financial markets after joining the firm in 1997. His career provides an experienced approach in such a dynamic environment as India.
The fund's investment philosophy is based on identifying opportunities in companies domiciled in India or with a substantial part of their activity in the country, thus capturing the structural growth of one of the most dynamic economies in the world. The strategy combines a long-term vision with active management that allows adaptation to changing market conditions.
Recent portfolio movements
The management team has maintained a dynamic attitude in portfolio management. Among the most notable operations is the entry into Fractal Analytics through its IPO, a company with a strong position in data analysis and artificial intelligence globally, reflecting the interest in capturing structural growth trends.
On the contrary, the fund has reduced exposure to Infosys due to the lack of visibility on how technological disruption will affect the sector, waiting for more clarity in upcoming quarters. Likewise, positions in companies such as Reliance, Eternal, Motherson and Mahindra & Mahindra have been adjusted.
Part of that capital has been redirected towards higher conviction ideas, with increases in values such as Colgate-Palmolive and Supreme Industries, thus reinforcing the positioning in companies with more defensive profiles or with clearer growth visibility.
This article is for informational purposes and does not constitute financial advice.
