Best mutual funds: These top performing equity funds gave over 40 per cent return in fiscal 2024

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Nifty50 jumping 30 percent in fiscal 2024. Here, we sift through the data and shortlist the mutual funds which have performed exceedingly well. At the outset, we find out the stellar performance of small cap mutual funds.

Small cap mutual funds represent the mutual funds which invest a minimum of 65 percent of their assets in small cap stocks which essentially are securities of companies ranked below 250 companies as per the market capitalisation. (Source: AMFI; returns as on Mar 28, 2024) As we can see in the table above, Bandhan Small Cap Fund gave 69 percent return in the past one year and three other schemes delivered over 60 percent. These are Quant Small Cap, Mahindra Manulife Small Cap and ITI Small Cap.

ALSO READ: Retail investors’ inflow to mutual funds spiked 40% in the past one year, AMFI data shows These funds refer to the schemes which, as per the Sebi instructions, are mandated to invest a minimum of 65 percent in mid-cap stocks. And the mid cap stocks are securities of companies that are ranked between 101 to 249 of companies ranked in order of market capitalisation. (Source: AMFI; returns as on Mar 28, 2024) As one can see in the table above, top performing mid cap funds gave as high as 65 percent return in the past one year.

There are three schemes which gave more than 60 percent return. These are Quant mid cap, ITI Mid cap and Motilal Oswal Midcap Fund. These funds are mandated to invest a minimum of 80 percent of their assets in the large cap stocks.