Most equity mutual fund investors look for best performing mutual fund schemes in a longer horizon, say five and 10 years. ETMutualFunds did some data crunching and found out that around 64 equity mutual funds have offered more than 10% in 2024 so far. We considered the top 20 equity mutual funds.
Top two performers were from Quant Mutual Fund. Quant Momentum Fund, the topper in the list, offered 23.37% in 2024 so far. Quant Infrastructure Fund gave 23.02% during the same time period.
The next four schemes in the list were from the PSU fund category. ICICI Prudential PSU Equity Fund offered 22.89% and SBI PSU Fund gave 20.22%. Aditya Birla Sun Life PSU Equity Fund and Invesco India PSU Equity Fund offered 20.08% and 19.88% respectively. Also Read | 3 equity mutual fund categories gave double-digit returns in 2024 so far
Three international funds also featured on the list. Nippon India Taiwan Equity Fund offered 17.98%. Mirae Asset NYSE FANG+ETF FoF and PGIM India Global Equity Opp Fund offered 16.22% and 15.88% respectively.
These 20 schemes were from different categories. Eight thematic funds featured in the list of top 20 equity mutual funds that gave over 10% in 2024 so far. Four infrastructure funds, three international funds, a value fund, flexi cap fund, mid cap fund, large & mid cap fund, and banks & financial services also made it to the list.
The maximum schemes were from Quant Mutual Fund. Around 10 equity mutual fund schemes were there from Quant Mutual Fund. Two schemes were from ICICI Prudential Mutual Fund. The other schemes in the list were from SBI Mutual Fund, Nippon India Mutual Fund, Franklin Templeton Mutual Fund, Mirae Asset Mutual Fund, Aditya Birla Sun Life Mutual Fund, Bandhan Mutual Fund, PGIM India Mutual Fund, and Invesco Mutual Fund.
There were around 471 equity mutual funds in the market. Around 427 equity mutual funds offered positive returns, out of which 64 mutual fund schemes gave double-digit returns. Around 44 equity mutual fund schemes offered negative returns in 2024 so far.
Also Read | Two-third of inflows in hybrid category came from arbitrage funds. Here is the break up
We considered all equity mutual fund categories such as large cap, mid cap, small cap, large & mid cap, ELSS, multi cap, flexi cap, focused fund, value, contra, sectoral and thematic categories. We considered regular and growth options.
The returns for the year 2024 so far were calculated from January 1, 2024 to March 7, 2024.
Note, the above exercise is not a recommendation. The exercise was done to find out the top 20 equity mutual fund schemes in 2024 so far.
One should not make investment or redemption decisions based on the above exercise. One should always consider risk appetite, investment horizon, and goal before making investment decisions.
