India’s Top Performing 30 Equity Mutual Funds

Over the past five years ending in June 2024, an analysis of the top 30 active equity funds by AUM reveals that 12 funds outperformed their respective benchmarks. Notably, the Quant Small Cap Fund, SBI Contra Fund, and Nippon India Small Cap Fund stood out, each generating over 5% alpha. The Quant Small Cap Fund, ranked 30th with Rs. 23,000 crores in AUM, delivered an impressive 14% alpha and a five-year CAGR of 42%, compared to its benchmark’s 28%. The SBI Contra Fund and Nippon India Small Cap Fund achieved 8% and 5% alpha, respectively.

Several other funds also performed well. The Parag Parikh Flexi Cap Fund, ICICI Prudential Value Discovery Fund, and SBI Long Term Equity Fund each secured over 4% alpha. Additional outperforming funds included ICICI Prudential Bluechip Fund, Nippon India Large Cap Fund, HDFC Flexi Cap Fund, Mirae Asset ELSS Tax Saver Fund, Nippon India Multi Cap Fund, and SBI Small Cap Fund.

Interestingly, the Parag Parikh Flexi Cap Fund surpassed the HDFC Mid Cap Opportunities Fund to become India’s largest fund by AUM, managing Rs. 71,700 crore in June 2024. It achieved a CAGR of 25%, outpacing its benchmark’s 20%. Meanwhile, the HDFC Mid Cap Opportunities Fund, the second-largest fund with Rs. 70,600 crore in AUM, underperformed its benchmark by 92 basis points.

Among the top underperformers were the Axis ELSS Tax Saver Fund, Axis Midcap Fund, and Axis Bluechip Fund. This analysis focused solely on regular plans of these funds.

Here’s a summary of the performance of the top 30 actively managed equity funds based on their AUM, with the outperformers highlighted in yellow.

Data As of June 30, 2024

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.