Many mutual fund investors look for those equity mutual funds which have doubled or tripled their investments in a short span of time. ETMutualFunds did some analysis and found that around 40 equity mutual funds doubled lumpsum investments in the last three years. There were around 209 equity mutual funds in the market that completed three years of existence.
Quant Small Cap Fund multiplied lumpsum investments by 2.70 times in the last three years. A lumpsum investment of Rs 1 lakh in this scheme made three years ago would have been Rs 2.69 lakh now with a CAGR of 39.17%. Motilal Oswal Midcap Fund multiplied investments by 2.48 times in the last three years. A lumpsum investment made in this fund of Rs 1 lakh three years ago would have been Rs 2.48 lakh now.
Nippon India Small Cap Fund, the largest scheme in the small cap category based on assets managed, multiplied investors wealth by 2.40 times. HDFC Mid-Cap Opportunities Fund, the largest scheme in the mid cap category based on assets managed, multiplied wealth by 2.16 times. A lumpsum investment in the fund of Rs 1 lakh would have been Rs 2.16 lakh now.
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SBI Long Term Equity Fund, the oldest scheme in the ELSS category, multiplied investors wealth by 2.08 times in the last three years. ICICI Prudential Value Discovery Fund multiplied wealth by 2.03 times in the last three years.
These 40 equity mutual fund schemes were from contra, ELSS, flexi cap, focused fund, large & mid cap, mid cap, multi cap, small cap and value fund categories. No large cap scheme made it to the list of schemes which doubled investors wealth in the last three years.
Maximum schemes in the list were from HDFC Mutual Fund and Quant Mutual Fund. There were around six equity mutual fund schemes each from HDFC Mutual Fund and Quant Mutual Fund. Four schemes were Nippon India Mutual Fund, three schemes from ICICI Prudential Mutual Fund featured on the list of schemes which doubled wealth in the last three years. Six fund houses had two schemes each and nine fund houses had one scheme each.
We considered all equity mutual fund categories such as large cap, mid cap, large & mid cap, small cap, flexi cap, focused fund, multi cap, ELSS, value and contra fund categories. We considered regular and growth options. We looked at lumpsum investments made on April 9, 2021 to April 8, 2024.
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Note, the above exercise is not a recommendation. The exercise was done to find which equity mutual funds doubled wealth in the last three years. One should not make investment or redemption decisions based on the above exercise. One should always consider risk appetite, goal and investment horizons before making any investment decision.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)