Blast from the past: Can these mega funds regain their mojo?

livemint.com:

₹50 trillion-MF industry can boast of a track record of 20-30 years. While these funds have grown in size over the years, their performances have also seen ups and downs across different time-periods. Here, we look at three such funds; their recent and historical performance and what investors can expect from them.

It is a large-cap fund with assets under management (AUM) of close to ₹26,000 crore as of 24 January, as well as one of the oldest MFs; it has delivered annualized returns of 19% since its launch on 30 August 2002. The fund is managed by the chief investment officer of Aditya Birla Sun Life Mutual fund— Mahesh Patil —one of the longest-serving fund managers. Patil has been managing the fund for 18.5 years now.

Over longer periods, the fund’s performance stacks up well compared to its peer group. For instance, the fund’s 15-year-return in annualized terms stands at 17% as on 22 January, which is in the top quintile of returns—the fund is ranked fifth compared to other large-cap funds over the same period. A quintile is used to divide fund performances into groups of five, wherein the top quintile accounts for the top-five performers and the bottom quintile for the bottom-five.

Over the last 10 years, the fund has delivered 15% annualized returns— in it is in the second quintile and ranked ninth. Over the last seven years, it delivered 13.7% annualized returns, in fourth quintile (ranked 17th). The fund has lagged benchmark index— Nifty 100 Total Return Index (TRI)— which has clocked 15.6% annualized returns over the same period.

In the last five years, the fund has 15% annualized returns—the third quintile and ranked 15th. The Nifty 100 TRI has 15.8% annualized returns in same period. “The focus of ABSL