How India’s top equity funds have performed in 5 years?

An analysis of the performance of top 25 active equity funds in terms of AUM shows that 13 of them have outperformed their respective benchmarks in five-year period ending on December 2023.

Among top 25 funds, SBI Contra Fund, Nippon India Small Cap Fund and Parag Parikh Flexi Cap Fund are the top three outperforming schemes. These three funds have generated alpha of over 5%.

SBI Contra Fund which manages AUM of Rs.21,450 crore generated alpha of over 7% in five-year period. The fund delivered CAGR of 25% as against 17% CAGR of its benchmark.

While Nippon India Small Cap Fund delivered alpha of 6%, Parag Parikh Flexi Cap Fund made an additional 5% for its investors in five-year period ending on December 2023. 

Other outperforming schemes were - ICICI Prudential Value Discovery Fund (3.46%) Nippon India Growth Fund (1.61%), HDFC Flexi Cap Fund (1.59%), Mirae Asset ELSS Tax Saver Fund (1.53%), ICICI Prudential Bluechip Fund (1.11%), SBI Small Cap Fund (1.05), Mirae Asset Large & Midcap Fund (0.54), Nippon India Large Cap Fund (0.52), HDFC Top 100 Fund (0.23) and HDFC Small Cap Fund (0.01).

India’s largest MF scheme – HDFC Mid Cap Opportunities Fund that manages AUM of Rs.56,000 crore performed in line with its benchmark with marginal underperformance of 39 bps. The next two largest schemes - Parag Parikh Flexi Cap Fund and ICICI Prudential Bluechip Fund, which manage Rs.52000 crore and Rs.48000 crore, respectively outperformed their respective benchmarks in five-year period. 

Among the top three underperforming schemes were - Axis ELSS Tax Saver Fund, Axis Midcap Fund and Axis Bluechip Fund.

Please note that we have considered only regular plans for this analysis. Now, let us look at the performance of top 25 actively managed scheme based on their AUM. Outperformers market in yellow: