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India’s best performing mutual funds for November 2021

The 10-year benchmark bond yields hovered between 6.34% and 6.38% for most part of November 2021. While the Fed taper is already factored in, the markets would be wary of front-ending of rate hikes by the Fed.

December 01, 2021 3:18 IST | India Infoline News Service
During Nov-21, benchmark Nifty-50 fell sharply through the month and closed with -3.90% losses. Mid cap indices were almost at par losing -3.84% in the month, while the impact of losses was under 1% in small caps. IPOs, especially the Paytm IPO, influenced sentiments to a great extent.

FPIs sold heavily in the secondary market but infused funds into IPOs. Global sentiments were impacted by the hawkish tone of the US Federal Reserve and there is already risk-off sentiments. Adding to these sentiments is the escalating Omicron variant challenge for the global capital markets.

The 10-year benchmark bond yields hovered between 6.34% and 6.38% for most part of November 2021. While the Fed taper is already factored in, the markets would be wary of front-ending of rate hikes by the Fed. Of course, the RBI action plan on monetary stimulus unwinding and rates would be a lot more important for Indian markets.

1. Equity Large-Cap Funds

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Axis Blue-Chip Fund (G) 28.846% 19.338% 19.351%
Canara Robeco Blue-Chip (G) 31.151% 20.266% 18.130%
Mirae Asset Large Cap (G) 33.170% 16.873% 16.739%
Data Source: Morningstar

2. Equity Multi-Cap Funds

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Quant Active Fund (G) 70.292% 31.813% 25.181%
Principal Multi-Cap Fund (G) 51.168% 19.436% 17.711%
Baroda Multi Cap (G) 50.825% 22.648% 16.375%
Data Source: Morningstar

3. Equity Mid-Cap Funds

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Axis Mid-Cap Fund (G) 44.158% 25.797% 22.610%
PGIM India Mid-Cap (G) 65.634% 33.891% 21.615%
Quant Mid-Cap Fund (G) 66.207% 27.092% 21.178%
Data Source: Morningstar

4. Equity Small-Cap Funds

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
SBI Small Cap Fund (G) 55.112% 28.049% 23.171%
Axis Small Cap Fund (G) 59.588% 31.711% 22.457%
Nippon India Small Cap (G) 75.534% 27.540% 22.432%
Data Source: Morningstar

5. Equity Linked Savings Schemes (Tax Saving)

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Quant Tax Plan (G) 74.866% 33.273% 24.771%
BOI AXA Tax Advantage (G) 45.571% 28.031% 21.806%
Mirae Tax Saver Fund (G) 40.489% 22.535% 21.028%
Data Source: Morningstar

6. Balanced Funds (Aggressive Allocation)

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Quant Absolute Fund (G) 56.201% 27.340% 19.729%
BOI AXA Mid and Small (G) 53.356% 22.746% 17.787%
ICICI Pru Equity & Debt (G) 51.560% 19.090% 15.115%
Data Source: Morningstar

7. Balanced Funds (Conservative Allocation)

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
ICICI Pru Regular (G) 11.299% 10.364% 9.243%
Kotak Debt Hybrid (G) 15.820% 13.007% 9.204%
Canara Robeco Hybrid (G) 11.264% 11.451% 8.702%
Data Source: Morningstar

8. Arbitrage Funds (Cash-Futures)

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Nippon Arbitrage Fund (G) 4.049% 4.810% 5.398%
Edelweiss Arbitrage Fund (G) 4.080% 4.893% 5.372%
Kotak Arbitrage Fund (G) 4.195% 4.837% 5.368%
Data Source: Morningstar

9. Government Securities Funds (Gilt Funds)

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Edelweiss G-Sec Fund (G) 4.824% 10.102% 7.749%
IDFC G-Sec Fund (G) 2.796% 10.336% 7.307%
DSP G-Sec Fund (G) 3.685% 10.155% 6.898%
Data Source: Morningstar

10. Corporate Bond Funds

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Birla Corporate Bond (G) 4.325% 8.751% 7.673%
HDFC Corporate Bond (G) 4.364% 8.933% 7.625%
Kotak Corporate Bond (G) 3.968% 7.840% 7.394%
Data Source: Morningstar

11. Credit Risk Funds

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
ICICI Pru Credit Risk Fund (G) 6.672% 8.700% 7.723%
HDFC Credit Risk Fund (G) 7.381% 9.024% 7.481%
Baroda Credit Risk Fund (G) 19.744% 7.851% 7.363%
Data Source: Morningstar

12. Liquid Funds

Top performing Regular Plans (Growth Option) on 5-year returns (as on 30th Nov-21):

Name of Fund 1-Year Return 3-Year Return 5-Year Return
Quant Liquid Plan (G) 3.955% 5.427% 6.002%
IDBI Liquid Fund (G) 3.355% 4.961% 5.759%
Mahindra Manulife Liquid (G) 3.257% 4.880% 5.716%
Data Source: Morningstar

During November 2021 equity fund returns were negatively impacted across large caps and mid-caps. Equity markets sentiments were also negatively impacted by the combination of FPI selling, monetary hawkishness and valuation concerns.

Like Oct-21, even Nov-21 saw tapering of monthly returns on longer duration funds, while liquid funds did better. The key triggers for bond funds in the coming month will be the speed of Fed taper, Fed language in mid-December FOMC meet and the trajectory of rates and liquidity painted by the RBI in its Dec-21 monetary policy.

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