India’s top performing mutual funds for July 2020

Here is a quick rundown on how some key mutual fund (MF) categories performed in July 2020.

Aug 03, 2020 08:08 IST India Infoline News Service

For the month of July 2020, Nifty gained 7.49% and helped equity funds sustain their performance over a 5-year period. Bond yields continued to trend lower and that has been helpful to the debt funds, especially those with longer duration. While the high frequency growth data continues to be negative, the momentum indicates that the worst of the pandemic-related slowdown may be over.

The actual picture for equity and bond markets will be clear once the EMI moratorium is lifted later this year. We can get a broader picture by looking at a complete array of equity, debt, hybrid and liquid funds. Here is a quick rundown on how some key mutual fund (MF) categories performed in July 2020. (Only growth funds of Regular Plans)
  1. Equity Large Cap Funds
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
Axis Blue Chip Fund (G) 4.638% 8.634% 8.678%
Mirae Asset Large Cap (G) 0.639% 3.618% 8.004%
Canara Robeco Blue-chip (G) 9.881% 7.061% 7.887%
Data Source: Morningstar
  1. Equity Multi-Cap Funds
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
Parag Parikh Long Term (G) 18.669% 11.297% 11.430%
Quant Active Fund (G) 18.391% 8.872% 9.617%
Kotak Standard Multicap (G) -0.267% 2.223% 7.195%
Data Source: Morningstar
  1. Equity Mid Cap Funds
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
DSP Mid Cap Fund (G) 10.923% 2.447% 7.903%
Axis Mid Cap Fund (G) 12.633% 8.646% 7.307%
Kotak Emerging Equity (G) 4.003% 0.361% 6.542%
Data Source: Morningstar
  1. Equity Linked Savings Schemes (Tax Saving)
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
Quant Tax Plan (G) 15.585% 5.068% 11.545%
BOI AXA Tax Advantage (G) 17.553% 5.804% 7.960%
Axis Long Term Equity (G) 2.051% 5.065% 7.326%
Data Source: Morningstar
  1. Balanced Funds (Aggressive Allocation)
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
Mirae Asset Hybrid Equity (G) 3.251% 4.749% 8.345%
Quant Absolute Fund (G) 10.442% 6.052% 8.101%
Canara Robeco Hybrid G) 9.093% 6.002% 7.571%
Data Source: Morningstar
  1. Balanced Funds (Conservative Allocation)
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
ICICI Pru Savings Fund (G) 8.143% 6.554% 8.576%
Baroda Cons. Hybrid Fund (G) 9.874% 7.961% 7.786%
Kotak Debt Hybrid (G) 9.045% 5.511% 7.775%
Data Source: Morningstar
  1. Arbitrage Funds
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
Edelweiss Arbitrage Fund (G) 5.183% 5.950% 6.125%
Nippon Arbitrage Fund (G) 4.901% 6.024% 6.081%
Kotak Equity Arbitrage (G) 4.861% 5.890% 6.053%
Data Source: Morningstar
  1. Government Securities Funds (Gilt Funds)
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
Nippon India Gilt Sec Fund (G) 11.292% 9.260% 10.526%
IDFC G-Sec Fund (G) 13.760% 9.897% 10.364%
Aditya Birla G-Sec Fund (G) 10.612% 8.481% 10.309%
Data Source: Morningstar
  1. Credit Risk Funds
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
ICICI Pru Credit Risk Fund (G) 10.344% 7.928% 8.319%
HDFC Credit Risk Fund (G) 9.564% 7.137% 8.236%
Kotak Credit Risk Fund (G) 7.187% 6.769% 7.839%
Data Source: Morningstar
  1. Liquid Funds
The leaders in this category based on five year returns (as of 31st Jul 2020) are as under:
Name of Fund 1-Year Return 3-Year Return 5-Year Return
Quant Liquid Plan (G) 5.721% 6.657% 7.094%
Aditya Birla Liquid Plan (G) 5.248% 6.644% 7.013%
PGIM Insta Cash Fund (G) 5.264% 6.592% 6.952%
Data Source: Morningstar
 

Key takeaways from the Jul-20 Mutual Fund rankings
  • Gilt funds continued to be star performers for the third month in succession as weak bond yields gilt funds do better. RBI is expected to cut rates by another 25 bps.
  • Large cap funds have done better than mid cap funds and that is evident from the outperformance of Nifty over mid-cap index
  • There is a clear consistency appearing in the top performers across categories over the last few months and now past returns can be a useful guide for fund selection.

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