Top performing mutual funds of 2023 across market capitalisation: Large, mid and small cap
small caps are among the most volatile, offering unpredictable returns. But when it comes to returns, small and mid-cap can outpace their larger peers, although for a short duration. In the year 2023, something similar took place.
While large cap funds, on an average, delivered an annual return of 16.15 percent. Mid cap funds delivered a return of 30.77 percent, and small caps gave the maximum average return of 34.29 per cent. It is vital to note that the large cap funds, despite offering muted returns, have drawn the maximum investment with total AUMs (assets under management) amounting to ₹2,76,639 crore.
And the smallest asset size amounting to ₹2,20,176 crore belongs to small cap mutual funds (shows the table below). (Source: AMFI, data as on Nov 30, 2023) We further examine the data to sort out the top performing five mutual funds in each of the three categories across market capitalisation: large cap, mid cap and small caps. Large cap mutual funds refer to the mutual fund schemes which invest a minimum of 80 percent of their AUMs in large cap stocks.
The large cap stocks are the stocks of top 100 companies, ranked according to their market capitalisation. The average one-year return given by large cap mutual funds stood at 16.15 percent as on December 21, 2023, reveals the MorningStar data. (Source: AMFI; data as on Dec 21, 2023) Mid cap mutual funds refer to the schemes which invest a minimum of 65 percent of their AUMs in large cap stocks.
The mid cap stocks are the stocks of companies which are ranked between 101 to 250, as per market capitalisation. The average one-year return for mid cap mutual funds stood at 30.77 percent, the MorningStar data shows. Small cap mutual funds refer to the schemes, which invest a
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