Equity mutual fund categories under Modi s second term witnessed significant returns, with small cap funds leading at 243.94%. Nippon India Small Cap Fund topped with 304.07%. ELSS funds, large cap, and aggressive hybrid funds also showed notable performance.
Mutual fund investors look for schemes that multiply their investments twice or thrice. An ETMutualFunds analysis found that three equity mutual funds turned Rs 1 lakh to Rs 1 crore in 30 years.
Investors are shifting from smallcap to largecap funds due to better valuations and higher earnings growth expectations in large caps. Large cap schemes like Quant Large Cap Fund and Bank of India Bluechip Fund delivered high returns in FY24.
Large cap schemes are benchmarked against NIFTY 100 - TRI, and S&P BSE 100 - TRI. The benchmarks offered 4.68%, and 4.15% respectively in the January-March quarter in 2024.
Investing in mutual funds is popular for long-term growth and diversification. Factors like reputation, scheme category, and market performance influence investors decisions. Here are top-performing mutual funds based on one-year returns.