equity mutual fund categories have offered double-digit returns in 2023. To be precise, seven equity categories offered over 12% in the current year. The toppers have offered even better returns.
Predictably, small cap funds topped the return chart. The small cap category gave an average return of around 24.13% in 2023. The category has around 24 schemes and Mahindra Manulife Small Cap Fund offered the highest return of around 34.65%, followed by Union Small Cap Fund which offered 30.83%.
Mid cap category gave an average return of 18.96% in 2023. The category has around 29 schemes and Mahindra Manulife Mid Cap Fund was the topper in the category. The scheme gave 26.27%, followed by JM Midcap Fund which gave 26.26%.
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The multi cap category gave 15.93% average return in 2023 so far. The category has around 16 schemes. Nippon India Multi Cap Fund, the topper in the category, gave 22.41%. HDFC Multi Cap Fund gave 21.24%. Quant Active Fund gave the lowest return of around 6.63%.
Value and contra fund categories gave an average return of around 14.93% and 14.52% respectively. JM Value Fund, the topper in the value fund category, gave 26.53%. Aditya Birla Sun Life Pure Value Fund gave 22.92% in 2023. The contra fund category has three schemes. SBI Contra Fund offered the highest return of around 18.83%, followed by Kotak India EQ Contra Fund which gave 13.49%.
Large & Mid Cap Fund gave an average return of around 13.09% in 2023 so far. The category has around 26 schemes. Motilal Oswal Large & Midcap Fund, the topper in the category, gave 19.24%. HDFC Large and Mid Cap Fund gave 17.86%.
The flexi cap, ELSS, and focused