Top mutual funds in India - April 2019

The latest classification of funds provided by SEBI is a lot more streamlined and that is what we are using for our classification.

Apr 17, 2019 09:04 IST India Infoline News Service

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What exactly do we mean by top funds? There are different ways to look at the top funds. We can look at Asset Management Companies in terms of assets under management. That is a very macro approach. Another way is to look at top funds specifically based on the performance. Ideally, a time period of 5 years is best suited to judge best performing funds as shorter periods may not be appropriate. Let us look at the ranking of AMCs first based on AUM.
 
AMC Name AUM Dec-18 (Rs. Crore) AUM Sep-18 (Rs. Crore) AUM change (%)
HDFC Mutual Fund 334,964 306,360 +9.34%
ICICI Pru AMC 307,735 310,257 -0.81%
SBI Mutual Fund 264,353 253,829 +4.15%
Aditya Birla AMC 242,344 254,223 -4.67%
Reliance Mutual 236,256 244,843 -3.51%
UTI Mutual Fund 157,586 165,946 -5.04%
Kotak AMC 139,427 134,412 +3.73%
Franklin Templeton 109,525 110,400 -0.79%
Axis AMC 81,622 87,631 -6.86%
DSP Blackrock 79,245 95,457 -16.98%
Date Source: AMFI
 
The fall in assets in the December 2018 quarter is due to the heavy redemptions that some fund houses saw post the NBFC crisis. This fall has been more acute with respect to fund houses with a larger exposure to such troubled NBFC paper in their debt funds. But that is the macro picture of the top AMCs based on AUM. We now turn to the top funds in terms of performance. We will consider 5-year performance to get a long term perspective of the performance of the fund. We shall look at equity and equity oriented hybrid funds.
 
How have funds performed over a 5-year period?
The latest classification of funds provided by SEBI is a lot more streamlined and that is what we are using for our classification. We shall break the equity funds into various sub components and then look at top performers in each category. We shall only consider regular plans and ignore direct plans for easier comparison of performance.
 
EQUITY FUNDS – INFRASTRUCTURE
Fund Name 5 year returns (%) 3 year returns (%)
Franklin Build India (G) 21.22% 16.15%
L&T Infrastructure Fund (G) 17.69% 16.53%
Kotak Infrastructure Fund (G) 15.77% 10.58%
Invesco India Infra Fund (G) 14.73% 11.54%
DSP T.I.G.E.R. Fund (G) 14.45% 13.62%
EQUITY FUNDS – SAVINGS
Fund Name 5 year returns (%) 3 year returns (%)
Aditya Birla MNC Fund 20.51% 11.89%
DSP Natural Resources Fund 18.82% 20.51%
Aditya Birla Gen Next Fund 18.35% 16.84%
Sundaram Rural Fund 18.14% 16.96%
Canara Robeco Consumer Fund 17.99% 19.10%
EQUITY FUNDS – CONTRA
Fund Name 5 year returns (%) 3 year returns (%)
Invesco India Contra Fund 19.02% 17.74%
Kotak India Contra Fund 14.07% 17.79%
SBI Contra Fund 12.01% 10.82%
EQUITY FUNDS – LARGE CAP
Fund Name 5 year returns (%) 3 year returns (%)
Quant Focused Fund 18.85% 11.93%
JM Core 11 Fund 17.24% 21.94%
Reliance Large Cap Fund 16.53% 17.91%
SBI Blue Chip Fund 15.19% 12.41%
ICICI Pru Blue Chip Fund 14.21% 16.20%
EQUITY FUNDS – MID CAP
Fund Name 5 year returns (%) 3 year returns (%)
Kotak Emerging Equity Fund 21.74% 14.85%
L&T Mid Cap Fund 21.73% 17.32%
Tata Mid Cap Growth Fund 19.53% 13.75%
Edelweiss Mid Cap Fund 19.49% 13.15%
DSP Mid Cap Fund 19.47% 13.15%
EQUITY FUNDS – ELSS (TAX SAVING)
Fund Name 5 year returns (%) 3 year returns (%)
Quant Tax Plan Growth 19.40% 15.96%
Aditya Birla Tax Relief - 96 18.22% 15.39%
Axis Long Term Equity Growth 18.11% 15.34%
JM Tax Gain Fund 17.73% 18.78%
Aditya Birla Tax Plan 17.53% 14.84%
Data Source: Morningstar (All data is as of 09th April 2019)
 
In all the above cases, only the growth plans have been considered. One thing that needs to be remembered is that these are purely ranked based on long term returns. This does not talk about the risk taken and the returns per unit of risk. For that, a better perspective on ranking can be got by using risk adjusted measures like Sharpe and Treynor.

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