ETMutualFunds also compared the performance of these 20 equity schemes with their respective benchmarks. Out of these 20 schemes, four schemes have failed to beat their respective benchmarks.
Predictably, small cap funds topped the return chart. The small cap category gave an average return of around 24.13% in 2023. The category has around 24 schemes and Mahindra Manulife Small Cap Fund offered the highest return of around 34.65%, followed by Union Small Cap Fund which offered 30.83%.
We considered all equity schemes like large cap, mid cap, large & mid cap, small cap, ELSS, multi cap, flexi cap,focused fund, contra and value. We considered regular and growth options.
Boasting at least 33% return this year, Mahindra Manulife Small Cap Fund, Franklin India Smaller Cos Fund, Bandhan Emerging Businesses Fund, Union Small Cap Fund and Nippon India Small Cap Fund top the list of best-performing funds.