Around 43 equity mutual fund schemes have offered up to 70% in FY24, an analysis by ETMutualFunds showed. There were 249 equity mutual fund schemes in the market during the year.
Quant Value Fund, the topper in the list, offered 69.40% CAGR on a lumpsum investment made in this fund on April 1, 2023. A lumpsum investment of Rs 1 lakh in this fund would have been Rs 1.69 lakh now.
Bandhan Small Cap Fund gave 67.88 CAGR in FY24. If an investor invested Rs 1 lakh in the scheme, the current value of the investment would have been Rs 1.67 lakh.
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SBI Long Term Equity Fund, the oldest scheme in the ELSS category, gave 58.18% CAGR in FY24. The total value of lumpsum investment of Rs 1 lakh would have been Rs 1.58 lakh.
HDFC Mid-Cap Opportunities Fund, the largest scheme in the mid cap category based on assets managed, offered 55.43% CAGR in FY24. A lumpsum investment of Rs 1 lakh in this fund made on April 1, 2023 would have been Rs 1.55 lakh now.
Nippon India Small Cap Fund, the largest scheme in the small cap category based on assets managed, offered 53.46% CAGR on lumpsum investments.
These 43 equity mutual fund schemes were from different categories. Around 13 mid cap funds gave upto 70% in FY24 on lumpsum investments. Seven small cap, six value funds, five flexi cap, four ELSS, three multi cap, two large & mid cap and focused funds, and a large cap fund featured on the list.
Maximum schemes among these 43 equity mutual funds were from Quant Mutual Fund. Around eight schemes were from Quant Mutual Fund. Four schemes were from ITI Mutual Fund. Two schemes each were from Bandhan Mutual Fund, Mahindra Manulife Mutual Fund, Invesco Mutual Fund, and Bank of India Mutual Fund. The other 11 schemes were from different mutual fund houses.
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The other equity mutual fund schemes in the list offered CAGR ranging between 20.93% – 49.47% in FY24. A lumpsum investment of Rs 1 lakh in these funds would have been between Rs 1.20 lakh to Rs 1.49 lakh.
We considered all equity categories such as large cap, mid cap, large & mid cap, small cap, ELSS, multi cap, flexi cap, focused fund, value, and contra fund categories for the analysis. We considered regular and growth option. We calculated returns from April 1, 2023 to March 26, 2024.
Note, the above exercise is not a recommendation. The exercise was done to find how lumpsum investments made in the beginning of FY24 i.e. on April 1, 2023 performed. One should not make investment or redemption decisions based on the above exercise. Past performance does not guarantee future returns.
One should always consider risk appetite, investment horizon, and goal before making any investment decisions.
