The Indian stock market closed the fiscal year 2023 on a triumphant note, witnessing significant surges in both BSE Sensex and NSE Nifty, with nearly a 20% rise. Mutual fund investors reaped the rewards of this bullish trend, as the top-performing large, mid, and small-cap funds delivered remarkable returns.
Overview of Market Performance:
- BSE Sensex and NSE Nifty recorded a nearly 20% hike in the fiscal year 2023.
- Mutual fund investors enjoyed substantial returns, with the top 5 large-cap firms delivering over 24%, while mid and small-cap firms yielded around 40%.
Average Annual Returns in 2023:
- Large-cap mutual funds: 16.15%
- Mid-cap mutual funds: 30.77%
- Small-cap mutual funds: 34.29%
Top 5 Funds in Each Category:
Large Cap:
- Nippon India Large Cap Fund
- Annual Returns 2023: 28.85%
- Bank of India Bluechip Fund
- Annual Returns 2023: 27.05%
- HDFC Top 100 Fund
- Annual Returns 2023: 26.61%
- JM Large Cap Fund
- Annual Returns 2023: 26.16%
- Invesco India Large Cap Fund
- Annual Returns 2023: 24.45%
Mid Cap:
- Nippon India Growth Fund
- Annual Returns 2023: 42.93%
- JM Midcap Fund
- Annual Returns 2023: 42.88%
- Mahindra Manulife Mid Cap Fund
- Annual Returns 2023: 41.31%
- HDFC Mid-Cap Opportunities Fund
- Annual Returns 2023: 41.11%
- WhiteOak Capital Mid Cap Fund
- Annual Returns 2023: 38.53%
Small Cap:
- Mahindra Manulife Small Cap Fund
- Annual Returns 2023: 53.22%
- Bandhan Small Cap Fund
- Annual Returns 2023: 49.48%
- Franklin India Smaller Companies Fund
- Annual Returns 2023: 49.44%
- ITI Small Cap Fund
- Annual Returns 2023: 48.54%
- Quant Small Cap Fund
- Annual Returns 2023: 44.90%
(Data by Mint, AMFI till December 2023)
Investor’s Playground: Mutual funds remain the preferred choice for long-term investors. Whether opting for lump sum investments or monthly SIPs, investors find the mutual fund arena a lucrative space. Despite inherent risks, mutual funds are considered relatively less risky due to their long-term nature, offering the potential for substantial returns.
