The Indian stock market closed 2023 with a stellar rise, with BSE Sensex and NSE Nifty both witnessing nearly 20 per cent hike this fiscal year. This spike hugely factored in when it came to the returns of mutual fund investors.
Those who invested in mutual funds in the year bagged major returns, with the top 5 large cap firms delivering over 24 percent returns each, while mid cap and small cap firms delivered nearly over 40 percent each.
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The average annual return for large cap mutual funds was 16.15 per cent in 2023, while that of mid cap and small cap firms stood at 30.77 per cent and 34.29 per cent on average, respectively. Large cap firms offered comparatively lower returns last year, while most small cap mutual funds had over 40 percent annual returns.
The highest delivering small cap mutual fund in 2023 was Mahindra Manulife Small Cap Fund, which offered over 53 per cent annual return last year, according to data available on Association of Mutual Funds in India (AMFI).
While large cap funds offered the lowest annual percentage of return in 2023, their total AUMs (assets under management) remained the highest of all, amounting to ₹2,76,639 crore. Mentioned below are the top five small cap, mid cap and large cap funds with the highest return in 2023.
Top 5 large cap mutual funds with highest returns
Top large cap mutual funds
Annual Returns 2023
Nippon India Large Cap Fund
28.85%
Bank of India Bluechip Fund
27.05%
HDFC Top 100 Fund
26.61%
JM Large Cap Fund
26.16%
Invesco India Large Cap Fund
24.45%
Top 5 mid cap mutual funds with highest returns
Top mid cap mutual funds
Annual Returns 2023
Nippon India Growth Fund
42.93%
JM Midcap Fund
42.88%
Mahindra Manulife Mid Cap Fund
41.31%
HDFC Mid-Cap Opportunities Fund
41.11%
WhiteOak Capital Mid Cap Fund
38.53%
Top 5 small cap mutual funds with highest returns
Top small cap mutual funds
Annual Returns 2023
Mahindra Manulife Small Cap Fund
53.22%
Bandhan Small Cap Fund
49.48%
Franklin India Smaller Companies Fund
49.44%
ITI Small Cap Fund
48.54%
Quant Small Cap Fund
44.90%
(Data by Mint, AMFI till December 2023)
Mutual funds are the go-to investment options for long-term investors. One can make a large lump sum investment or sign up for a monthly SIP when it comes to investing in mutual funds, depending on the financial assets of the investor.
While mutual funds don't come without their own risks, investing in MFs is considered a less risky option since the investments are long term, increasing the possibility of a good return.
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Here are 5 mutual fund schemes with highest 3-year returns along with their expense ratios: Quant Small Cap Fund(G) tops the chart with over 39% returns followed by Quant Mid Cap Fund(G), Nippon India Small Cap Fund(G), Quant Flexi Cap Fund(G) and Motilal Oswal Midcap Fund-Reg(G) in the same pecking order.
Top performing investment funds owned by Vanguard worldwide 2023, by one-year return. As of September 2023, the Vanguard PrimeCap Fund provided the highest one-year return rate. The Vanguard Selected Value Fund ranked second having a one-year return rate of 34.05 percent.
Citadel, which ranked second in 2023, made $8.1 billion in profits after bringing in a record-breaking $16 billion in 2022. Its $74 billion in gains since inception rank it as the most successful hedge fund in history.
Easily one of the top-rated examples of the safest mutual funds, the BlackRock Exchange Portfolio (MUTF:STSEX) seeks long-term growth of capital and consequent long-term growth of income, per its prospectus.
Diversify Your Portfolio: Diversification plays a crucial role in risk reduction, optimising returns, and maintaining stability within your investment portfolio. It is important to invest in a mix of equity, debt, and possibly others like gold or real estate mutual funds to diversify your portfolio.
Two schemes - Quant Mid Cap Fund and ITI Small Cap Fund - offered 63.98% and 63.88% respectively in a one year horizon. Three schemes - JM Value Fund, HSBC Multi Cap Fund, and ITI Mid Cap Fund - offered 60.98%, 60.76%, and 60.07% respectively in one year horizon.
There are eight large cap mutual funds which have delivered over 40 percent return in the past one year. These include Quant Large Cap Fund, Bank of India Bluechip Fund, JM Large Cap Fund and Nippon India Large Cap Fund, among others.
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