Multi-Asset Mutual Funds Are Not All The Same

by Hansraj Agrawal | Apr 19, 2025 | Share Market

Multi-Asset Allocation Funds (MAAF) have surged in popularity over the last 15-18 months, outperforming many equity and hybrid categories. Currently, 28 funds in this category aim to deliver portfolio diversification across asset classes. While the common objective is to balance risk and returns, their investment approaches vary widely in terms of asset allocation strategies and risk profile.

These are some of the variations that investors need to watch out for:

No equity allocation

All funds in the category mandatorily allocate to unhedged equities except the Edelweiss Multi Asset Allocation Fund. It is a debt-oriented fund employing arbitrage positions in equities, gold, and silver along with accrual income from fixed-income instruments. This fund generates returns similar to debt and arbitrage funds. Over the last one year, it delivered 8.9 per cent while arbitrage and short duration funds categories clocked an average return of 7 per cent and 9 per cent respectively.

Exposure to gold and silver derivatives

While most funds allocate to gold ETFs or physical gold, funds like Edelweiss Multi Asset Allocation, WhiteOak Capital Multi Asset Allocation, ICICI Pru Multi-Asset and Tata Multi Asset Opportunities Fund prefer taking positions through commodity derivatives. Gold and silver derivatives offer leverage and flexibility with lower capital requirements than ETFs in India. WhiteOak Capital Multi Asset Allocation and Tata Multi Asset Opportunities delivered an annualised return of 16 per cent and 8 per cent over the last one year.

Exposure to crude oil, copper, zinc and aluminium commodities

Tata Multi Asset Opportunities Fund stands unique in the industry by investing also in crude oil, copper, zinc, and aluminium through exchange-traded commodity derivatives. It maintains an overall commodity allocation ranging from 10 to 20 per cent of the portfolio. ICICI Pru Multi-Asset has too allocated less than one percent to copper derivatives. This may allow investors to take advantage of gains in these industrial commodities to which they may not have direct access. Tata Multi Asset has a five-year track record, delivering an average one-year rolling return of 18 per cent since inception, with the lowest return being 1 per cent.

Allocation to overseas equities

Seven funds in the category allocate to overseas equities, adding another layer of diversification. Funds with higher overseas allocations include Invesco India Multi Asset Allocation (17 per cent), DSP Multi Asset Allocation (15 per cent), and Nippon India Multi Asset Allocation Fund (10 per cent). While Invesco India Multi Asset primarily allocates to US equities, DSP Multi Asset Allocation and Nippon India Multi Asset Allocation offer exposure across global markets. DSP Multi Asset Allocation and Nippon India Multi Asset Allocation posted annualised returns of 12 per cent and 10.5 per cent, respectively, over the past year. Invesco India Multi Asset Allocation, on the other hand, has been in operation for less than a year.

Allocation across seven assets

Three funds provide well-diversified exposure by allocating to as many asset classes as permissible for the industry. WhiteOak Capital Multi Asset Allocation, ICICI Pru Multi-Asset, and Aditya Birla SL Multi Asset Allocation Fund have invested across seven assets: domestic equities, arbitrage positions, debt, gold, silver, overseas equities, REITs & InvITs. Among these schemes, ICICI Pru Multi-Asset stands out with a long track record, having delivered annualised returns of 25 per cent over the past five years.

Mid & small-cap heavy equity portfolio

Some funds focus heavily on mid and small-cap stocks. The top three funds with higher exposure to this segment are Motilal Oswal Multi Asset (31 per cent), LIC MF Multi Asset Allocation (30 per cent), and HSBC Multi Asset Allocation Fund (27 per cent), compared to the category average of 15 per cent. This may lead higher equity returns than for peers but with higher volatility and downside risks. This was evident in their performance during the recent market downturn, with Motilal Oswal Multi Asset posting a negative return of 9 per cent and HSBC Multi Asset Allocation managing only a 4 per cent return over the past year. LIC MF Multi Asset Allocation, however, has a track record of less than a year.

Higher exposure to unhedged equities

Currently, 16 funds invest at least 65 per cent in equities. UTI Multi Asset Allocation and Sundaram Multi Asset Allocation Fund have consistently maintained unhedged equity levels above 65 per cent. Conversely, Motilal Oswal Multi Asset and Quant Multi Asset fund demonstrate dynamic asset allocation practices. UTI and Sundaram Multi Asset Allocation returned 8 per cent and 12 per cent annually over the past year.

Silver over gold

Some funds prefer silver over gold. According to latest portfolio data, Kotak Multi Asset Allocation, Mahindra Manulife Multi Asset Allocation, and Quant Multi Asset hold higher allocations in silver than gold. Silver functions more as an industrial commodity than a safe haven and may add higher volatility along with return potential to the portfolio. Over the last one year, Kotak Multi Asset Allocation, Mahindra Manulife Multi Asset Allocation and Quant Multi Asset delivered 7 per cent, 10 per cent and 3 per cent respectively.

Published on April 19, 2025

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Why this Value Fund Can Be Healthy Investment For The Long Term

by Hansraj Agrawal | Apr 19, 2025 | Share Market

The persistent fall in the markets from September 2024 to March 2025 has finally brought some semblance of comfort in valuations. With large, mid and small-cap indices having fallen 15-26 per cent from the peak, before slowly rallying in recent weeks, PE multiples have fallen across the board.

However, the continuing uncertainties on US trade tariffs with too much back and forth on announcements, volatile currency dynamics, questions on global growth and persisting geopolitical tensions mean that markets may continue to be choppy for a while.

Anchoring your portfolio to carefully chosen value names and quality picks can help stem the volatility and deliver over the long term.

Tata Equity P/E fund is a good choice for value investors wishing to create wealth over the long term of 7-10 years.

The fund invests at least 70 per cent of its assets in companies whose rolling PE ratios based on the past four quarters’ earnings are less than the rolling P/E of the BSE Sensex stocks.

Tata Equity P/E has a track record of almost 21 years and has delivered healthy above-average returns over this period. Investments can be made via the SIP route to average costs and ride out market volatility.

Proven performer

The scheme’s performance over the past couple of decades has been healthy. It has delivered 18.1 per cent compounded annually from its inception in June 2024.

When five-year rolling returns over the past the period January 2013 to April 2025 are considered, Tata Equity P/E has delivered mean returns of 16.1 per cent. Its benchmark Nifty 500 TRI has managed average returns of 14.1 per cent over the same timeframe.

Also, in the aforementioned 12-year period, on a 5-year rolling basis, the scheme has beaten its benchmark nearly 69 per cent of the time, which is quite robust. It has delivered more than 12 per cent nearly 68 per cent of the time over this period and more than 15 per cent more than 51 per cent of the time.

The fund’s SIP returns (XIRR) over the past 10 years are fairly robust at 16.4 per cent. An SIP in its benchmark Nifty 500 TRI would have returned 14.5 per cent over the same period.

All return figures pertain to the direct plan of Tata Equity P/E fund.

The fund has an upside capture ratio of 111.6, indicating that its NAV rises much more than the benchmark during rallies. But more importantly, it has a downside capture ratio of 88.4, indicating that the scheme’s NAV falls less than the Nifty 500 TRI during corrections. A score of 100 indicates that a fund performs in line with its benchmark. This is based on data from April 2022-April 2025.

Smart portfolio churn

Tata Equity P/E fund takes a flexicap approach to stock selection. Therefore, there is substantial proportion invested in mid and small-caps as well, though large-caps dominate the portfolio . In the last couple of years, the allocation to large-caps has been a little over 60 per cent levels. So, mid and small-caps account for 30-35 per cent of the overall holdings. As the portfolio is anchored to valuations, it suffers somewhat less during market corrections.

The fund manages to well-diversified and robust portfolio of 35-40 stocks without being too concentrated in any names barring the top few holdings.

Cash positions are taken to the tune of only 4-6 per cent of the portfolio.

Financial services, mainly banks, NBFCs and capital market companies, have always been the top holdings of Tata Equity P/E. Large banks and NBFCs have especially been resilient in the recent market correction over the past six months. This has helped the fund hold up and not suffer very heavy drawdowns.

Oil, gas and consumable fuels have also been among the top holdings of the fund over the years, as valuations remain the comfort zone for companies in these segments.

It pared exposure to automobiles and auto components as the segments faced a slowdown and also the uncertainties of the US trade tariffs. The correction in IT stocks has made the fund increase stakes in select companies of the space. Large FMCG stocks, too, have corrected significantly, thus giving value opportunities for the fund to hike stakes in a few chosen names.

The fund sticks to the value style and does not go heavy on momentum-driven stocks even in the small-cap segment.

For investors willing to stay on for the long term and take periods of underperformance in their stride, Tata Equity P/E fund can be a rewarding investment.

Published on April 19, 2025

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Mutual Funds returns

by Hansraj Agrawal | Apr 19, 2025 | Share Market

EQUITY – FOCUSED FUNDS

360 ONE Focused Equity Fund

44.6

6730

1.8

0.6

6.4

14.6

24.3

14.8

0.83

EQUITY – TAX SAVING (ELSS) FUNDS

BOI ELSS Tax Saver

150.0

1320

2.0

0.8

-2.2

15.1

25.2

14.5

0.70

HYBRID – AGGRESSIVE HYBRID FUNDS

BOI AXA Mid & Small Cap Eq&Debt

35.2

1068

2.1

0.8

4.4

14.2

26.0

–

0.74

EQUITY – LARGE CAP FUNDS

Canara Robeco Bluechip Equity Fund

60.0

14965

1.7

0.5

11.5

13.7

21.0

12.9

0.79

EQUITY – THEMATIC – CONSUMPTION FUNDS

Canara Robeco Consumer Trends Fund

104.4

1695

2.1

0.9

10.2

16.5

23.2

15.1

0.77

HYBRID – BALANCED ADVANTAGE FUNDS

Edelweiss Balanced Advantage Fund

48.5

12240

1.7

0.5

6.3

10.6

15.6

9.9

0.87

HYBRID – EQUITY SAVINGS FUNDS

Edelweiss Equity Savings Fund

24.4

577

1.6

0.6

10.1

9.8

11.4

8.6

1.05

EQUITY – LARGE & MID CAP FUNDS

HDFC Large and Mid Cap Fund

314.0

23380

1.7

1.0

7.5

18.1

28.6

13.1

0.96

HYBRID – BALANCED ADVANTAGE FUNDS

ICICI Prudential Balanced Advantage Fund

70.7

60591

1.5

0.9

10.2

12.3

16.6

10.7

1.31

EQUITY – LARGE CAP FUNDS

ICICI Prudential Bluechip Fund

104.4

64963

1.4

0.9

9.7

16.4

24.5

13.3

0.98

EQUITY – FOCUSED FUNDS

ICICI Prudential Focused Equity Fund

85.4

10484

1.8

0.7

15.3

20.1

27.6

13.8

1.02

EQUITY – SECTOR – IT FUNDS

ICICI Prudential Technology Fund

179.6

12731

1.8

1.1

7.2

5.1

31.0

16.0

0.82

EQUITY – VALUE FUNDS

ICICI Prudential Value Discovery Fund

442.1

49131

1.5

1.1

12.1

19.0

30.1

14.3

1.29

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Invesco India Infrastructure Fund

58.2

1410

2.1

0.8

3.0

22.6

30.7

14.7

0.81

EQUITY – FLEXI CAP FUNDS

JM Flexicap Fund

93.7

5263

1.8

0.6

7.6

21.9

27.5

15.7

0.84

EQUITY – LARGE CAP FUNDS

JM Large Cap Fund

145.1

491

2.4

0.7

1.3

13.9

18.6

9.9

0.62

EQUITY – VALUE FUNDS

JM Value Fund

91.4

988

2.2

0.9

4.4

21.2

28.3

15.4

0.85

HYBRID – CONSERVATIVE HYBRID FUNDS

Kotak Debt Hybrid Fund

57.5

3017

1.7

0.5

10.0

10.4

12.4

9.4

1.20

EQUITY – MID CAP FUNDS

Motilal Oswal Midcap Fund

90.9

26028

1.6

0.6

13.6

24.5

35.1

16.5

0.91

EQUITY – SMALL CAP FUNDS

Nippon India Small Cap Fund

154.0

55491

1.5

0.7

5.4

20.0

38.3

19.9

0.98

EQUITY – FLEXI CAP FUNDS

Parag Parikh Flexi Cap Fund

79.0

93441

1.3

0.6

12.6

17.0

27.5

16.8

1.13

EQUITY – MID CAP FUNDS

PGIM India Midcap Opportunities Fund

59.3

10302

1.7

0.5

8.6

11.3

29.6

14.1

0.92

HYBRID – AGGRESSIVE HYBRID FUNDS

Quant Absolute Fund

397.0

2000

2.1

0.7

-1.9

11.1

27.0

14.5

0.99

EQUITY – TAX SAVING (ELSS) FUNDS

Quant ELSS Tax Saver Fund

339.8

10405

1.7

0.5

-7.5

12.8

33.9

19.1

0.93

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Quant Infrastructure Fund

35.2

3158

2.0

0.8

-11.3

16.0

40.4

17.0

0.96

EQUITY – LARGE & MID CAP FUNDS

Quant Large & Mid Cap Fund

110.6

3519

1.9

0.7

-3.7

15.6

26.2

15.8

0.80

EQUITY – MID CAP FUNDS

Quant Mid Cap Fund

208.3

8356

1.8

0.6

-4.2

16.8

33.3

16.1

0.97

EQUITY – SMALL CAP FUNDS

Quant Small Cap Fund

235.9

24893

1.6

0.7

-2.8

18.4

47.3

18.8

1.07

HYBRID – CONSERVATIVE HYBRID FUNDS

SBI Conservative Hybrid Fund

70.7

9666

1.5

1.1

9.5

9.7

12.4

8.9

1.31

EQUITY – TAX SAVING (ELSS) FUNDS

SBI Long Term Equity Fund

410.3

27730

1.6

1.0

8.3

22.4

28.7

13.7

1.07

HYBRID – EQUITY SAVINGS FUNDS

Sundaram Equity Savings Fund

68.2

976

2.2

0.8

9.5

10.4

14.7

9.2

1.06

EQUITY – SECTOR – BANKING FUNDS

Sundaram Fin Serv Opportunities Fund

101.6

1415

2.2

0.9

14.5

19.6

25.0

13.4

0.72

EQUITY – DIVIDEND YIELD FUNDS

Templeton India Equity Income Fund

132.8

2286

2.1

0.9

4.8

16.0

29.1

14.4

1.26

HYBRID – BALANCED ADVANTAGE FUNDS

Aditya Birla SL Bal Advantage

101.4

7321

1.8

0.8

10.9

11.6

15.6

10.6

0.97

EQUITY – SMALL CAP FUNDS

AXIS Small Cap Fund

97.5

22736

1.6

0.6

10.4

16.1

29.6

17.2

0.91

EQUITY – LARGE & MID CAP FUNDS

Bandhan Core Equity Fund

124.3

7967

1.8

0.6

11.4

21.4

28.7

14.2

0.96

EQUITY – TAX SAVING (ELSS) FUNDS

Bandhan ELSS Tax Saver Fund

143.7

6597

1.8

0.7

4.1

12.8

28.1

13.4

0.96

EQUITY – VALUE FUNDS

Bandhan Sterling Value Fund

139.9

9430

1.8

0.7

5.2

15.0

32.9

14.1

1.07

HYBRID – AGGRESSIVE HYBRID FUNDS

Baroda BP Aggressive Hybrid Fund

26.4

1150

2.1

0.6

6.0

12.5

18.0

–

0.75

EQUITY – LARGE CAP FUNDS

Baroda BP Large Cap Fund

208.7

2432

2.0

0.8

5.7

14.4

21.0

11.7

0.76

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

BOI AXA Manufacturing & Infra

50.5

514

2.3

0.7

2.5

19.8

30.7

14.9

0.86

EQUITY – TAX SAVING (ELSS) FUNDS

Canara Robeco ELSS Tax Saver

163.8

8277

1.7

0.6

8.8

12.9

22.5

13.2

0.80

EQUITY – TAX SAVING (ELSS) FUNDS

DSP ELSS Tax Saver Fund

133.5

16218

1.7

0.8

16.0

17.7

26.9

15.2

0.96

EQUITY – LARGE CAP FUNDS

Edelweiss Large Cap Fund

79.8

1157

2.2

0.6

7.0

13.7

21.5

11.7

0.81

EQUITY – MID CAP FUNDS

Edelweiss Mid Cap Fund

91.1

8634

1.7

0.4

15.5

21.4

32.8

16.7

0.95

EQUITY – FLEXI CAP FUNDS

Franklin India Flexi Cap Fund

1553.5

17394

1.8

1.0

10.6

16.9

27.6

13.3

0.94

EQUITY – FLEXI CAP FUNDS

HDFC Flexi Cap Fund

1887.9

69639

1.4

0.8

17.1

21.6

30.1

14.7

1.12

EQUITY – FOCUSED FUNDS

HDFC Focused 30 Fund

218.3

17227

1.7

0.8

17.3

22.0

30.2

13.8

1.19

HYBRID – CONSERVATIVE HYBRID FUNDS

HDFC Hybrid Debt Fund

81.1

3310

1.7

1.2

9.3

10.5

12.4

8.8

1.22

EQUITY – MID CAP FUNDS

HDFC Mid-Cap Opportunities Fund

174.1

72610

1.4

0.9

9.2

22.8

32.4

16.5

1.07

HYBRID – BALANCED ADVANTAGE FUNDS

HSBC Balanced Advantage Fund

41.9

1471

2.1

0.8

8.0

10.7

12.1

7.4

0.76

HYBRID – EQUITY SAVINGS FUNDS

HSBC Equity Savings Fund

31.6

624

1.5

0.6

8.0

10.7

14.5

8.2

0.75

EQUITY – DIVIDEND YIELD FUNDS

ICICI Prudential Dividend Yield Equity Fund

50.1

4995

1.9

0.7

10.7

21.4

32.6

15.0

1.24

HYBRID – AGGRESSIVE HYBRID FUNDS

ICICI Prudential Equity & Debt Fund

376.2

40962

1.6

1.0

11.5

17.6

26.4

15.0

1.21

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

ICICI Prudential Infrastructure Fund

179.8

7214

1.9

1.2

6.6

27.3

37.4

15.4

1.16

EQUITY – LARGE & MID CAP FUNDS

ICICI Prudential Large & Mid Cap Fund

944.9

19353

1.7

0.9

12.6

19.7

29.7

14.4

1.09

HYBRID – CONSERVATIVE HYBRID FUNDS

ICICI Prudential Regular Savings Fund

73.7

3127

1.7

1.0

9.9

9.6

10.8

9.2

1.32

EQUITY – SECTOR – BANKING FUNDS

Invesco India Fin Serv Fund

129.1

1208

2.2

0.9

17.3

18.6

23.8

14.2

0.65

HYBRID – AGGRESSIVE HYBRID FUNDS

JM Aggressive Hybrid Fund

115.5

768

2.3

0.7

7.2

19.5

27.4

11.6

1.01

EQUITY – TAX SAVING (ELSS) FUNDS

JM ELSS Tax Saver Fund

45.1

184

2.4

1.0

9.5

16.9

26.0

14.3

0.81

EQUITY – LARGE CAP FUNDS

Kotak Bluechip Fund

537.4

9424

1.7

0.6

9.8

13.2

22.2

12.0

0.82

EQUITY – MID CAP FUNDS

Kotak Emerging Equity Fund

118.3

48129

1.5

0.5

11.2

16.9

29.7

16.2

0.90

HYBRID – AGGRESSIVE HYBRID FUNDS

Kotak Equity Hybrid Fund

57.7

6795

1.8

0.5

10.5

12.6

21.5

11.8

0.94

EQUITY – LARGE & MID CAP FUNDS

Kotak Equity Opportunities Fund

314.2

24913

1.6

0.6

6.6

16.0

24.9

14.2

0.86

HYBRID – EQUITY SAVINGS FUNDS

Kotak Equity Savings Fund

25.3

8043

1.8

0.7

7.5

10.6

12.6

9.0

1.10

EQUITY – SMALL CAP FUNDS

Kotak Small Cap Fund

238.1

15706

1.7

0.6

5.3

12.4

33.1

16.4

0.91

EQUITY – TAX SAVING (ELSS) FUNDS

Mirae Asset ELSS Tax Saver Fund

45.1

23945

1.6

0.7

7.9

13.1

24.4

–

0.86

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mirae Asset Great Consumer Fund

87.4

3872

1.9

0.5

8.9

16.7

23.6

14.4

0.76

EQUITY – LARGE & MID CAP FUNDS

Mirae Asset Large & Midcap Fund

137.3

36507

1.6

0.7

4.6

12.4

24.0

16.5

0.81

EQUITY – TAX SAVING (ELSS) FUNDS

Motilal Oswal ELSS Tax Saver Fund

45.8

3817

1.9

0.7

9.0

21.2

25.6

15.6

0.63

EQUITY – MID CAP FUNDS

Nippon India Growth Fund

3761.3

33175

1.6

0.8

12.7

21.9

32.6

16.6

0.98

EQUITY – LARGE CAP FUNDS

Nippon India Large Cap Fund

84.5

37546

1.6

0.7

7.8

18.1

26.1

13.2

0.93

EQUITY – VALUE FUNDS

Nippon India Value Fund

212.3

8101

1.9

1.1

9.5

19.3

29.6

14.8

0.95

EQUITY – FLEXI CAP FUNDS

PGIM India Flexi Cap Fund

34.0

5967

1.8

0.4

7.9

9.2

23.8

12.9

0.80

EQUITY – FOCUSED FUNDS

Quant Focused Fund

81.0

1013

2.2

0.7

-5.3

12.5

24.4

13.7

0.77

EQUITY – SECTOR – BANKING FUNDS

SBI Banking & Fin Serv Fund

40.1

7111

1.8

0.8

19.9

17.4

23.3

15.4

0.66

EQUITY – THEMATIC – CONSUMPTION FUNDS

SBI Consumption Opportunities Fund

305.4

2904

2.0

0.9

10.5

16.3

27.7

14.9

0.89

EQUITY – SECTOR – IT FUNDS

Tata Digital India Fund

42.2

10996

1.6

0.3

2.0

4.8

28.0

–

0.72

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Tata Infrastructure Fund

159.0

2033

2.1

1.2

-6.7

18.9

30.0

13.6

0.79

EQUITY – FLEXI CAP FUNDS

Union Flexi Cap Fund

47.6

2159

2.1

1.0

5.5

13.0

23.0

11.1

0.79

EQUITY – SECTOR – BANKING FUNDS

Aditya Birla SL Bank & Fin Serv

58.5

3248

2.0

1.1

15.0

15.2

24.0

13.3

0.65

EQUITY – SECTOR – IT FUNDS

Aditya Birla Sun Life Digital India Fund

151.7

4530

1.9

0.9

0.4

4.5

26.9

15.8

0.72

EQUITY – DIVIDEND YIELD FUNDS

Aditya Birla Sun Life Dividend Yield Fund

413.8

1404

2.2

1.4

2.1

16.9

25.6

11.3

0.89

EQUITY – FLEXI CAP FUNDS

Aditya Birla Sun Life Flexi Cap Fund

1671.6

21668

1.7

0.9

10.6

13.4

23.0

13.1

0.79

EQUITY – FOCUSED FUNDS

Aditya Birla Sun Life Focused Fund

132.3

7360

1.8

0.9

9.5

13.3

21.4

11.7

0.80

EQUITY – LARGE CAP FUNDS

Aditya Birla Sun Life Frontline Equity Fund

498.3

28106

1.7

1.0

10.7

13.6

22.4

11.7

0.84

EQUITY – THEMATIC – CONSUMPTION FUNDS

Aditya Birla Sun Life India GenNext Fund

205.6

5613

1.9

0.8

11.7

14.9

22.4

14.4

0.75

HYBRID – CONSERVATIVE HYBRID FUNDS

Aditya Birla Sun Life Regular Savings Fund

65.1

1377

1.9

1.0

10.6

8.2

12.2

8.3

1.23

HYBRID – CONSERVATIVE HYBRID FUNDS

Axis Conservative Hybrid Fund

29.6

272

2.2

0.9

9.4

6.7

9.3

6.8

0.78

HYBRID – EQUITY SAVINGS FUNDS

Axis Equity Savings Fund

21.6

940

2.3

1.0

7.8

9.0

11.8

–

0.80

EQUITY – MID CAP FUNDS

Axis Midcap Fund

102.0

28063

1.6

0.6

10.4

14.7

23.8

14.7

0.72

HYBRID – BALANCED ADVANTAGE FUNDS

Bandhan Balanced Advantage Fund

23.4

2217

2.1

0.8

8.8

9.3

12.8

8.1

0.69

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Bandhan Infrastructure Fund

47.0

1563

2.1

0.9

4.3

24.6

35.0

14.5

0.86

EQUITY – LARGE CAP FUNDS

Bandhan Large Cap Fund

72.2

1766

2.1

0.9

9.5

13.6

21.4

11.1

0.74

HYBRID – CONSERVATIVE HYBRID FUNDS

Baroda BNP Paribas Conser Hybrid

43.8

739

2.0

0.6

7.7

7.9

8.3

7.1

0.71

EQUITY – TAX SAVING (ELSS) FUNDS

Baroda BP ELSS Tax Saver Fund

89.7

866

2.2

1.0

10.2

15.1

21.0

11.5

0.68

EQUITY – MID CAP FUNDS

Baroda BP Mid Cap Fund

93.2

1982

2.0

0.6

7.3

16.1

27.3

14.3

0.85

HYBRID – CONSERVATIVE HYBRID FUNDS

Canara Robeco Conservative Hybrid Fund

94.7

936

1.8

0.7

9.4

7.9

9.8

7.7

0.95

EQUITY – LARGE & MID CAP FUNDS

Canara Robeco Emerging Equities

239.9

23163

1.6

0.6

12.6

14.4

24.3

14.9

0.80

HYBRID – AGGRESSIVE HYBRID FUNDS

Canara Robeco Equity Hybrid Fund

341.1

10372

1.7

0.6

9.5

11.8

17.6

11.6

0.79

EQUITY – FLEXI CAP FUNDS

Canara Robeco Flexi Cap Fund

314.9

12194

1.7

0.6

8.6

12.3

21.1

12.3

0.75

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Canara Robeco Infrastructure Fund

145.9

816

2.3

1.1

11.8

23.8

32.3

14.2

0.92

HYBRID – AGGRESSIVE HYBRID FUNDS

DSP Aggressive Hybrid Fund

347.0

10425

1.8

0.7

17.9

14.7

19.6

12.2

0.82

HYBRID – BALANCED ADVANTAGE FUNDS

DSP Dynamic Asset Allocation Fund

26.8

3217

1.9

0.7

11.9

10.8

12.1

8.7

0.84

EQUITY – LARGE & MID CAP FUNDS

DSP Equity Opportunities Fund

586.0

13784

1.7

0.7

13.7

18.8

25.9

14.6

0.90

EQUITY – FLEXI CAP FUNDS

DSP Flexi Cap Fund

97.4

11154

1.7

0.7

13.4

15.1

22.6

13.0

0.72

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

DSP India T.I.G.E.R. Fund

288.1

4880

1.9

0.9

3.6

24.5

33.6

14.9

0.92

EQUITY – SMALL CAP FUNDS

DSP Small Cap Fund

172.3

14269

1.7

0.9

4.8

13.8

32.0

15.3

0.85

EQUITY – FLEXI CAP FUNDS

Edelweiss Flexi Cap Fund

35.5

2419

2.0

0.5

9.3

15.8

24.4

13.5

0.80

EQUITY – LARGE & MID CAP FUNDS

Edelweiss Large & Mid Cap Fund

79.8

3608

1.9

0.4

8.6

15.0

24.3

13.3

0.80

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Franklin Build India Fund

131.4

2642

2.0

1.0

5.9

26.5

33.7

16.0

0.97

EQUITY – TAX SAVING (ELSS) FUNDS

Franklin India ELSS Tax Saver Fund

1402.3

6359

1.9

1.1

10.3

17.1

26.5

12.6

0.88

HYBRID – AGGRESSIVE HYBRID FUNDS

Franklin India Equity Hybrid Fund

259.4

2055

2.1

1.0

9.4

13.9

19.7

11.1

0.90

EQUITY – FOCUSED FUNDS

Franklin India Focused Equity Fund

101.5

11396

1.8

1.1

7.6

15.4

25.1

12.9

0.84

EQUITY – TAX SAVING (ELSS) FUNDS

HDFC ELSS Tax saver

1338.5

15556

1.7

1.1

14.9

21.1

27.7

12.6

1.12

HYBRID – EQUITY SAVINGS FUNDS

HDFC Equity Savings Fund

64.0

5430

1.9

0.9

6.7

9.5

13.3

9.4

1.06

HYBRID – AGGRESSIVE HYBRID FUNDS

HDFC Hybrid Equity Fund

113.4

23229

1.7

1.1

9.2

12.0

20.2

9.9

0.97

EQUITY – LARGE CAP FUNDS

HDFC Large Cap Fund

1095.0

36109

1.6

1.0

7.0

15.6

23.8

12.1

0.88

HYBRID – CONSERVATIVE HYBRID FUNDS

HSBC Conservative Hybrid Fund

59.6

146

2.2

1.4

10.6

9.1

9.8

7.4

0.69

EQUITY – FLEXI CAP FUNDS

HSBC Flexi Cap Fund

200.3

4547

2.0

1.2

8.7

14.7

23.8

11.8

0.71

EQUITY – LARGE CAP FUNDS

HSBC Large Cap Fund

449.5

1785

2.1

1.2

6.2

12.8

20.3

11.5

0.68

EQUITY – SMALL CAP FUNDS

HSBC Small Cap Fund

73.4

14493

1.7

0.7

1.6

16.4

34.3

17.4

0.82

EQUITY – VALUE FUNDS

HSBC Value Fund

101.0

12600

1.7

0.8

9.0

19.8

29.9

15.3

0.93

EQUITY – SECTOR – BANKING FUNDS

ICICI Prudential Banking & Fin Serv Fund

128.1

9008

1.8

1.1

18.2

15.0

23.5

13.3

0.70

EQUITY – TAX SAVING (ELSS) FUNDS

ICICI Pru Long Term Equity

887.3

13633

1.7

1.1

11.6

14.1

23.6

12.4

0.86

EQUITY – MID CAP FUNDS

ICICI Prudential Midcap Fund

257.6

5796

1.9

1.3

4.9

16.7

29.5

13.7

0.90

HYBRID – BALANCED ADVANTAGE FUNDS

Invesco India Balanced Advantage Fund

51.2

943

2.1

0.8

7.0

11.7

14.5

8.9

0.73

EQUITY – TAX SAVING (ELSS) FUNDS

Invesco India ELSS Tax Saver Fund

117.5

2638

1.9

0.8

8.4

13.7

21.9

12.7

0.66

EQUITY – LARGE & MID CAP FUNDS

Invesco India Large & Mid Cap Fund

89.6

6432

1.8

0.7

17.5

20.2

25.3

14.2

0.75

EQUITY – LARGE CAP FUNDS

Invesco India Largecap Fund

64.8

1329

2.1

0.8

9.2

14.0

22.1

11.8

0.73

EQUITY – MID CAP FUNDS

Invesco India Midcap Fund

154.6

5779

1.8

0.7

18.4

21.1

29.2

16.0

0.82

EQUITY – FOCUSED FUNDS

JM Focused Fund

18.7

247

2.4

0.7

4.4

17.2

21.1

12.2

0.64

EQUITY – TAX SAVING (ELSS) FUNDS

Kotak ELSS Tax Saver Fund

108.3

5863

1.8

0.7

4.9

13.8

23.5

13.1

0.79

EQUITY – FLEXI CAP FUNDS

Kotak Flexicap Fund

78.3

49130

1.5

0.6

8.5

14.0

21.8

13.0

0.76

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Kotak Infra & Economic Reform

58.9

2133

2.0

0.7

-0.7

21.3

31.7

14.3

0.85

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

LIC MF Infrastructure Fund

43.6

874

2.2

0.6

11.0

23.5

31.5

13.3

0.82

EQUITY – LARGE & MID CAP FUNDS

LIC MF Large & Midcap Fund

36.2

2859

1.9

0.6

13.3

13.8

23.3

13.6

0.75

EQUITY – SMALL CAP FUNDS

LIC MF Small Cap Fund

28.4

494

2.4

1.0

9.8

16.6

31.8

–

0.79

EQUITY – TAX SAVING (ELSS) FUNDS

Mahindra Manulife ELSS Tax Saver Fund

26.9

895

2.2

0.6

6.9

12.5

23.3

–

0.81

HYBRID – EQUITY SAVINGS FUNDS

Mahi Manu Eq Sav Dhan San Yojana

19.8

557

2.4

0.7

5.5

7.8

13.3

–

0.88

HYBRID – AGGRESSIVE HYBRID FUNDS

Mirae Asset Aggressive Hybrid Fund

30.5

8682

1.7

0.5

9.7

11.5

18.1

–

0.81

EQUITY – LARGE CAP FUNDS

Mirae Asset Large Cap Fund

106.3

37778

1.6

0.7

10.4

10.7

20.2

12.5

0.76

EQUITY – SECTOR – BANKING FUNDS

Nippon India Banking & Fin Serv Fund

603.3

6566

1.9

1.0

17.1

17.9

28.1

13.0

0.77

EQUITY – FOCUSED FUNDS

Nippon India Focused Equity Fund

113.8

7922

1.9

1.2

10.5

12.8

25.8

12.7

0.88

EQUITY – TAX SAVING (ELSS) FUNDS

PGIM India ELSS Tax Saver Fund

33.2

741

2.3

0.8

10.1

10.9

23.0

–

0.84

EQUITY – LARGE CAP FUNDS

SBI Blue Chip Fund

87.5

49394

1.5

0.8

9.7

12.9

21.9

11.8

0.86

HYBRID – AGGRESSIVE HYBRID FUNDS

SBI Equity Hybrid Fund

284.8

72555

1.4

0.7

13.4

11.6

17.8

11.4

0.86

HYBRID – EQUITY SAVINGS FUNDS

SBI Equity Savings Fund

23.1

5671

1.4

0.9

8.2

9.7

13.4

–

0.93

EQUITY – FOCUSED FUNDS

SBI Focused Equity Fund

331.4

35253

1.6

0.8

13.4

12.2

21.0

13.5

0.75

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

SBI Infrastructure Fund

47.3

4681

1.9

1.0

2.3

22.7

30.9

14.4

0.99

EQUITY – LARGE & MID CAP FUNDS

SBI Large & Midcap Fund

575.4

29416

1.6

0.8

10.3

15.4

26.2

13.9

0.97

EQUITY – MID CAP FUNDS

SBI Magnum Midcap Fund

223.2

20890

1.7

0.8

7.8

16.3

31.3

14.3

1.06

EQUITY – SMALL CAP FUNDS

SBI Small Cap Fund

160.7

30829

1.6

0.7

4.1

14.8

29.4

17.8

0.90

HYBRID – AGGRESSIVE HYBRID FUNDS

Sundaram Aggressive Hybrid Fund

154.9

5619

1.8

0.8

9.3

11.8

18.6

11.8

0.84

HYBRID – BALANCED ADVANTAGE FUNDS

Sundaram Balanced Advantage Fund

33.9

1491

2.1

0.7

8.5

10.3

11.5

7.4

0.62

EQUITY – FOCUSED FUNDS

Sundaram Focused Fund

151.1

1044

2.3

1.4

5.4

11.2

21.2

12.4

0.69

EQUITY – SECTOR – BANKING FUNDS

Tata Banking and Fin Serv Fund

41.4

2548

2.0

0.5

19.3

18.1

22.1

–

0.64

EQUITY – VALUE FUNDS

Tata Equity P/E Fund

328.5

8004

1.7

0.7

5.6

18.1

25.0

13.7

0.87

HYBRID – EQUITY SAVINGS FUNDS

Tata Equity Savings Fund

53.9

265

1.1

0.5

9.5

9.0

11.2

7.1

1.09

EQUITY – THEMATIC – CONSUMPTION FUNDS

Tata India Consumer Fund

42.4

2208

2.0

0.8

13.2

17.1

22.2

–

0.66

EQUITY – LARGE & MID CAP FUNDS

Tata Large & Mid Cap Fund

499.9

8058

1.7

0.6

6.5

15.6

23.5

12.7

0.88

EQUITY – LARGE CAP FUNDS

Tata Large Cap Fund

477.9

2453

2.1

1.0

6.7

12.8

22.2

11.2

0.82

EQUITY – MID CAP FUNDS

Tata Mid Cap Growth Fund

391.7

4333

1.9

0.7

4.0

16.8

27.1

14.1

0.86

EQUITY – MID CAP FUNDS

Taurus Mid Cap Fund

110.8

114

2.5

2.2

-2.0

13.4

23.5

13.7

0.67

EQUITY – VALUE FUNDS

Templeton India Value Fund

678.1

2079

2.1

1.3

4.5

17.5

30.8

13.8

1.06

EQUITY – TAX SAVING (ELSS) FUNDS

Union ELSS Tax Saver Fund

59.7

860

2.3

1.4

4.9

12.8

23.2

10.9

0.81

EQUITY – SMALL CAP FUNDS

Union Small Cap Fund

43.2

1444

2.2

1.0

3.1

13.0

29.3

13.0

0.75

HYBRID – AGGRESSIVE HYBRID FUNDS

UTI Aggressive Hybrid Fund

386.5

5910

1.9

1.2

11.8

15.6

22.7

11.6

1.06

HYBRID – CONSERVATIVE HYBRID FUNDS

UTI Conservative Hybrid Fund

67.9

1648

1.8

1.2

11.2

9.5

12.3

8.2

1.19

EQUITY – TAX SAVING (ELSS) FUNDS

UTI ELSS Tax Saver Fund

194.5

3593

1.9

0.9

9.2

10.8

21.2

11.3

0.71

EQUITY – LARGE & MID CAP FUNDS

UTI Large & Mid Cap Fund

167.0

4101

1.9

0.9

12.5

19.4

28.5

12.8

0.99

EQUITY – LARGE CAP FUNDS

UTI Large Cap Fund

261.0

12180

1.8

0.9

8.9

10.4

20.2

10.9

0.73

EQUITY – MID CAP FUNDS

UTI Mid Cap Fund

269.9

10649

1.8

0.9

4.7

13.2

26.5

12.8

0.78

EQUITY – VALUE FUNDS

UTI Value Fund

156.8

9455

1.8

1.1

13.7

16.2

24.7

12.2

0.92

HYBRID – AGGRESSIVE HYBRID FUNDS

Aditya Birla Sun Life Equity Hybrid ’95 Fund

1433.2

7193

1.9

1.1

8.5

9.5

18.2

9.8

0.76

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Aditya Birla Sun Life Infrastructure Fund

87.2

1060

2.3

1.5

1.8

20.3

30.3

12.4

0.81

EQUITY – LARGE CAP FUNDS

Axis Bluechip Fund

58.3

32349

1.6

0.7

7.6

9.4

16.6

11.5

0.54

HYBRID – AGGRESSIVE HYBRID FUNDS

Bandhan Aggressive Hybrid Fund

24.2

819

2.3

1.0

12.4

12.5

20.1

–

0.81

EQUITY – FLEXI CAP FUNDS

Bandhan Flexi Cap Fund

194.2

6886

1.9

1.2

8.6

12.7

20.3

10.0

0.71

EQUITY – SECTOR – BANKING FUNDS

Baroda BNP Paribas Bank&Fin Serv

46.3

238

2.4

0.9

19.2

17.0

20.6

11.2

0.57

HYBRID – BALANCED ADVANTAGE FUNDS

BOI Balanced Advantage Fund

23.8

132

2.3

1.2

1.5

8.9

12.0

6.8

0.54

EQUITY – LARGE & MID CAP FUNDS

BOI Large & Mid Cap Equity Fund

81.3

362

2.3

1.1

2.6

14.3

22.3

11.0

0.71

HYBRID – EQUITY SAVINGS FUNDS

DSP Equity Savings Fund

21.5

2517

1.3

0.4

11.4

9.8

12.9

–

1.26

EQUITY – FOCUSED FUNDS

DSP Focus Fund

51.8

2447

2.0

1.0

15.9

16.2

21.8

11.4

0.78

EQUITY – MID CAP FUNDS

DSP Midcap Fund

130.1

17204

1.7

0.7

8.1

13.7

21.8

13.3

0.66

HYBRID – CONSERVATIVE HYBRID FUNDS

DSP Regular Savings Fund

57.8

164

1.1

0.5

11.4

9.4

10.4

7.1

1.08

EQUITY – TAX SAVING (ELSS) FUNDS

Edelweiss Long Term Equity

102.3

384

2.3

0.7

7.9

13.0

21.6

10.9

0.73

EQUITY – LARGE CAP FUNDS

Franklin India Bluechip Fund

963.2

7343

1.9

1.2

9.7

11.9

20.5

10.4

0.75

HYBRID – CONSERVATIVE HYBRID FUNDS

Franklin India Debt Hybrid Fund

88.7

198

1.4

0.7

9.3

9.1

9.7

7.4

0.93

EQUITY – MID CAP FUNDS

Franklin India Prima Fund

2537.3

11443

1.8

1.1

13.7

20.1

27.5

14.3

0.82

EQUITY – SMALL CAP FUNDS

Franklin India Smaller Companies Fund

156.9

11970

1.8

1.0

1.4

19.8

33.4

14.9

0.86

EQUITY – SMALL CAP FUNDS

HDFC Small Cap Fund

122.7

30223

1.6

0.9

0.1

17.8

33.6

16.5

0.92

EQUITY – VALUE FUNDS

HDFC Value Fund

687.5

6806

1.9

1.1

10.5

16.1

25.7

12.9

0.91

HYBRID – AGGRESSIVE HYBRID FUNDS

HSBC Aggressive Hybrid Fund

50.1

5022

1.9

0.9

4.4

10.7

17.2

9.9

0.57

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC ELSS Tax saver Fund

124.1

3871

1.9

1.1

11.3

16.0

23.5

12.5

0.71

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HSBC Infrastructure Fund

43.5

2229

2.1

1.0

5.0

21.2

30.4

14.6

0.80

EQUITY – MID CAP FUNDS

HSBC Midcap Fund

340.8

10362

1.7

0.7

5.4

18.1

25.9

14.5

0.69

HYBRID – EQUITY SAVINGS FUNDS

ICICI Prudential Equity Savings Fund

22.0

12855

1.0

0.5

8.5

8.1

10.4

7.9

1.37

EQUITY – THEMATIC – CONSUMPTION FUNDS

ICICI Prudential FMCG Fund

476.1

1855

2.2

1.4

6.7

11.7

16.3

11.2

0.60

EQUITY – SECTOR – BANKING FUNDS

LIC MF Banking & Fin Serv Fund

19.8

254

2.4

1.1

7.6

13.1

19.2

7.1

0.54

EQUITY – TAX SAVING (ELSS) FUNDS

LIC MF ELSS Tax Saver

147.4

1088

2.2

1.0

15.8

14.1

21.7

11.1

0.74

EQUITY – FLEXI CAP FUNDS

LIC MF Flexi Cap Fund

89.3

920

2.3

1.3

2.7

10.9

16.8

7.9

0.52

EQUITY – LARGE CAP FUNDS

LIC MF Large Cap Fund

53.8

1379

2.1

1.0

10.3

10.0

18.2

10.0

0.60

HYBRID – BALANCED ADVANTAGE FUNDS

Motilal Oswal Balanced Advantage Fund

17.9

918

2.3

1.0

-8.5

5.8

8.4

–

0.26

EQUITY – FOCUSED FUNDS

Motilal Oswal Focused Fund

38.5

1401

2.2

1.0

-8.2

6.7

13.9

8.9

0.39

EQUITY – LARGE & MID CAP FUNDS

Navi Large & Midcap Fund

33.1

295

2.3

0.4

9.4

10.4

22.6

–

0.74

EQUITY – LARGE & MID CAP FUNDS

Nippon India Vision Fund

1370.7

5467

2.0

1.4

12.1

18.2

27.1

11.7

0.91

EQUITY – TAX SAVING (ELSS) FUNDS

Quantum ELSS Tax Saver Fund

118.6

209

2.0

0.9

10.2

16.2

24.0

11.9

0.99

EQUITY – VALUE FUNDS

Quantum Long Term Equity Value Fund

119.5

1123

2.0

1.1

10.4

16.2

24.1

11.9

0.98

EQUITY – FLEXI CAP FUNDS

SBI Flexicap Fund

102.8

21035

1.7

0.9

5.6

10.0

20.5

12.0

0.76

EQUITY – SECTOR – IT FUNDS

SBI Technology Opportunities Fund

191.9

4203

1.9

0.9

12.0

9.3

27.1

14.9

0.78

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram ELSS Tax Saver Fund

480.6

1288

2.3

1.7

8.4

13.2

23.7

13.0

0.85

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Sundaram Infrastructure Advantage Fund

86.8

882

2.5

2.3

3.7

18.8

29.8

12.8

0.85

EQUITY – LARGE & MID CAP FUNDS

Sundaram Large and Mid Cap Fund

79.7

6381

1.8

0.9

8.5

13.2

23.2

13.1

0.74

EQUITY – MID CAP FUNDS

Sundaram Mid Cap Fund

1249.5

11333

1.7

0.9

11.8

20.5

28.5

13.9

0.85

EQUITY – TAX SAVING (ELSS) FUNDS

Tata ELSS Tax Saver Fund

41.6

4335

1.7

0.6

9.2

13.5

22.7

13.4

0.77

HYBRID – AGGRESSIVE HYBRID FUNDS

Tata Hybrid Equity Fund

418.2

3936

1.9

1.0

6.4

11.5

18.4

9.3

0.81

EQUITY – LARGE CAP FUNDS

Union Largecap Fund

22.3

432

2.5

1.3

3.1

10.9

20.1

–

0.72

EQUITY – DIVIDEND YIELD FUNDS

UTI Dividend Yield Fund

164.9

3855

2.0

1.4

11.8

15.3

24.5

12.9

0.90

EQUITY – FLEXI CAP FUNDS

UTI Flexi Cap Fund

306.5

24532

1.7

1.1

13.3

7.3

19.8

11.5

0.60

EQUITY – THEMATIC – CONSUMPTION FUNDS

UTI India Consumer Fund

54.9

651

2.5

1.5

8.8

12.9

18.3

10.2

0.57

EQUITY – TAX SAVING (ELSS) FUNDS

Aditya Birla Sun Life ELSS Tax Saver Fund

55.6

14462

1.7

1.0

8.2

11.0

15.9

9.6

0.55

EQUITY – LARGE & MID CAP FUNDS

Aditya Birla Sun Life Equity Advantage Fund

832.5

5410

1.9

1.2

5.5

8.6

20.4

11.0

0.58

HYBRID – EQUITY SAVINGS FUNDS

Aditya Birla Sun Life Equity Savings Fund

21.4

632

1.1

0.6

7.9

7.2

10.8

7.5

0.68

EQUITY – MID CAP FUNDS

Aditya Birla Sun Life Midcap Fund

714.5

5502

1.9

1.1

7.2

14.5

27.5

12.7

0.83

EQUITY – VALUE FUNDS

Aditya Birla Sun Life Pure Value Fund

115.3

5791

1.9

1.1

1.9

15.9

25.9

11.6

0.74

EQUITY – SMALL CAP FUNDS

Aditya Birla Sun Life Small Cap Fund

77.3

4416

1.9

1.0

2.9

13.2

27.6

12.2

0.72

EQUITY – TAX SAVING (ELSS) FUNDS

Axis ELSS Tax Saver Fund

92.0

34176

1.5

0.8

8.0

9.8

17.7

11.3

0.50

EQUITY – FOCUSED FUNDS

Axis Focused Fund

52.3

12347

1.7

0.8

6.7

6.6

16.3

11.5

0.45

HYBRID – CONSERVATIVE HYBRID FUNDS

Bandhan Conservative Hybrid Fund

31.5

115

2.0

1.0

9.0

6.7

7.6

6.6

0.63

EQUITY – FOCUSED FUNDS

Bandhan Focused Equity Fund

81.0

1685

2.1

0.9

13.7

14.6

21.7

11.1

0.68

EQUITY – LARGE CAP FUNDS

DSP Top 100 Equity Fund

456.8

5070

1.9

1.0

16.0

17.5

21.8

11.0

0.87

EQUITY – LARGE & MID CAP FUNDS

Franklin India Equity Advantage Fund

174.2

3273

2.1

1.4

9.8

12.6

24.3

10.7

0.81

EQUITY – SECTOR – IT FUNDS

Franklin India Technology Fund

457.5

1754

2.1

1.0

0.5

12.0

25.2

14.9

0.72

EQUITY – LARGE CAP FUNDS

Groww Largecap Fund

40.0

120

2.4

1.0

3.1

11.8

18.3

10.4

0.62

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

HDFC Infrastructure Fund

44.5

2329

2.0

1.0

5.0

28.0

33.8

9.9

0.93

HYBRID – AGGRESSIVE HYBRID FUNDS

LIC MF Aggressive Hybrid Fund

183.2

497

2.5

1.4

7.7

10.5

14.5

7.5

0.59

EQUITY – MID CAP FUNDS

LIC MF Midcap Fund

26.4

302

2.5

1.3

10.1

16.0

25.5

–

0.72

EQUITY – FLEXI CAP FUNDS

Motilal Oswal Flexi Cap Fund

56.3

12267

1.7

0.9

15.5

19.5

21.8

12.7

0.64

EQUITY – TAX SAVING (ELSS) FUNDS

Nippon India ELSS Tax Saver Fund

121.3

14392

1.7

1.1

9.5

15.7

25.0

9.6

0.82

HYBRID – AGGRESSIVE HYBRID FUNDS

Nippon India Equity Hybrid Fund

99.1

3688

2.0

1.1

8.5

13.8

21.0

9.4

0.94

HYBRID – EQUITY SAVINGS FUNDS

Nippon India Equity Savings Fund

15.6

692

1.8

0.7

6.2

8.0

10.3

–

0.87

HYBRID – CONSERVATIVE HYBRID FUNDS

Nippon India Hybrid Bond Fund

56.3

835

1.9

1.1

8.1

8.8

5.3

1.18

EQUITY – LARGE CAP FUNDS

PGIM India Large Cap Fund

323.7

569

2.4

0.9

6.4

10.9

18.5

9.7

0.65

EQUITY – THEMATIC – CONSUMPTION FUNDS

Sundaram Consumption Fund

93.4

1445

2.2

1.3

14.2

17.6

21.9

13.8

0.73

EQUITY – DIVIDEND YIELD FUNDS

Sundaram Dividend Yield Fund

129.7

863

2.3

1.2

4.1

14.5

23.0

13.7

0.87

EQUITY – SMALL CAP FUNDS

Sundaram Small Cap Fund

232.3

2955

2.0

0.9

3.0

16.1

31.7

12.3

0.83

EQUITY – FLEXI CAP FUNDS

Taurus Flexi Cap Fund

213.6

338

2.6

3.9

11.6

19.9

8.5

0.65

EQUITY – SECTOR – BANKING FUNDS

UTI Banking and Fin Serv Fund

183.4

1211

2.2

1.1

18.4

16.5

23.1

10.8

0.65

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

UTI Infrastructure Fund

135.5

2097

2.2

1.8

5.6

20.1

26.7

11.8

0.82

HYBRID – BALANCED ADVANTAGE FUNDS

UTI-Unit Linked Insurance Plan

40.9

5352

1.6

1.0

12.7

8.0

12.4

7.8

0.79

EQUITY – THEMATIC – MNC FUNDS

Aditya Birla Sun Life MNC Fund

–

1218.2

3371

2.0

1.4

3.2

8.5

12.5

7.3

0.42

HYBRID – AGGRESSIVE HYBRID FUNDS

Axis Aggressive Hybrid Fund

–

19.6

1521

2.2

1.1

11.3

8.5

15.9

–

0.62

HYBRID – BALANCED ADVANTAGE FUNDS

Axis Balanced Advantage Fund

–

20.4

2808

2.0

0.8

13.5

13.2

14.3

–

0.83

EQUITY – FLEXI CAP FUNDS

Axis Flexi Cap Fund

–

24.9

12040

1.7

0.7

11.1

10.6

18.3

–

0.54

EQUITY – LARGE & MID CAP FUNDS

Axis Growth Opportunities Fund

–

30.0

13321

1.7

0.6

7.9

13.2

24.2

–

0.73

HYBRID – EQUITY SAVINGS FUNDS

Bandhan Equity Savings Fund

–

30.7

272

1.1

0.2

7.5

7.2

9.7

6.6

1.21

HYBRID – BALANCED ADVANTAGE FUNDS

Baroda BP Balanced Advantage Fund

–

23.0

4073

1.9

0.8

7.5

12.2

17.1

–

0.82

EQUITY – FOCUSED FUNDS

Baroda BP Focused Fund

–

20.7

634

2.3

0.5

3.4

11.9

19.8

–

0.58

EQUITY – THEMATIC – CONSUMPTION FUNDS

Baroda BP India Consumption Fund

–

30.7

1369

2.1

0.7

13.2

16.2

21.5

–

0.69

EQUITY – MULTI CAP FUNDS

Baroda BP Multi Cap Fund

–

268.3

2616

2.0

1.0

9.0

15.5

26.7

13.0

0.78

HYBRID – CONSERVATIVE HYBRID FUNDS

BOI Conservative Hybrid Fund

–

33.4

2.1

1.1

4.1

6.9

12.0

7.4

1.09

EQUITY – SMALL CAP FUNDS

BOI Small Cap Fund

–

43.2

1574

2.0

0.5

9.3

17.5

34.9

–

0.84

EQUITY – SMALL CAP FUNDS

Canara Robeco Small Cap Fund

–

35.3

11087

1.7

0.5

3.8

12.5

34.0

–

0.93

EQUITY – SECTOR – PHARMA FUNDS

DSP Healthcare Fund

–

37.2

3019

1.9

0.6

15.2

18.7

24.8

–

0.88

HYBRID – AGGRESSIVE HYBRID FUNDS

Edelweiss Aggressive Hybrid Fund

–

60.1

2487

1.9

0.4

11.0

15.5

21.3

11.8

1.01

EQUITY – SMALL CAP FUNDS

Edelweiss Small Cap Fund

–

39.8

4064

1.8

0.4

6.2

17.2

33.9

–

0.95

HYBRID – EQUITY SAVINGS FUNDS

Franklin India Equity Savings Fund

–

16.0

637

1.1

0.4

7.5

7.7

11.2

–

0.85

HYBRID – AGGRESSIVE HYBRID FUNDS

Groww Aggressive Hybrid Fund

–

19.9

2.3

0.9

4.6

10.6

16.5

–

0.69

EQUITY – TAX SAVING (ELSS) FUNDS

Groww ELSS Tax Saver Fund

–

18.2

2.3

0.6

0.8

11.4

18.0

–

0.59

EQUITY – VALUE FUNDS

Groww Value Fund

–

25.1

2.3

0.9

5.7

13.7

21.6

–

0.77

HYBRID – BALANCED ADVANTAGE FUNDS

HDFC Balanced Advantage Fund

–

496.2

94824

1.4

0.9

8.8

18.9

25.0

13.8

1.15

EQUITY – LARGE & MID CAP FUNDS

HSBC Large & Mid Cap Fund

–

24.0

3769

1.9

0.9

5.9

14.9

23.5

–

0.61

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC Tax Saver Equity Fund

–

87.5

227

2.5

1.6

14.7

15.7

23.9

12.5

0.71

EQUITY – MULTI CAP FUNDS

ICICI Prudential Multicap Fund

–

748.4

13938

1.8

1.0

9.4

18.5

26.5

14.0

0.93

EQUITY – SECTOR – PHARMA FUNDS

ICICI Prudential P.H.D Fund

–

36.5

4915

1.9

1.2

20.0

22.3

25.4

–

0.99

EQUITY – SMALL CAP FUNDS

ICICI Prudential Smallcap Fund

–

78.7

7392

1.8

0.9

2.1

15.1

32.5

13.9

1.01

HYBRID – AGGRESSIVE HYBRID FUNDS

Invesco India Aggressive Hybrid Fund

–

21.5

618

2.4

0.8

12.6

14.6

18.1

–

0.71

EQUITY – CONTRA FUNDS

Invesco India Contra Fund

–

126.4

17265

1.7

0.6

14.1

18.1

25.9

15.0

0.86

HYBRID – EQUITY SAVINGS FUNDS

Invesco India Equity Savings Fund

–

16.4

399

2.3

0.7

8.8

9.4

10.2

–

0.62

EQUITY – MULTI CAP FUNDS

Invesco India Multicap Fund

–

121.7

3651

1.9

0.7

10.2

16.4

24.9

13.0

0.74

EQUITY – SMALL CAP FUNDS

Invesco India Smallcap Fund

–

37.6

5885

1.8

0.4

12.7

21.2

32.7

–

0.85

HYBRID – BALANCED ADVANTAGE FUNDS

Kotak Balanced Advantage Fund

–

19.6

16542

1.7

0.6

9.8

10.9

14.8

–

0.96

EQUITY – CONTRA FUNDS

Kotak India EQ Contra Fund

–

139.0

3935

1.9

0.6

7.0

18.3

26.5

14.3

0.92

HYBRID – CONSERVATIVE HYBRID FUNDS

LIC MF Conservative Hybrid Fund

–

80.3

2.3

1.2

8.5

6.1

7.2

6.3

0.58

EQUITY – DIVIDEND YIELD FUNDS

LIC MF Dividend Yield Fund

–

28.6

490

2.4

0.7

12.1

18.1

24.9

–

0.81

HYBRID – EQUITY SAVINGS FUNDS

LIC MF Equity Savings Fund

–

26.6

2.3

1.3

8.3

8.2

10.7

6.6

0.65

EQUITY – FOCUSED FUNDS

LIC MF Focused Fund

–

20.1

127

2.5

1.6

7.4

9.8

19.4

–

0.65

EQUITY – SECTOR – PHARMA FUNDS

LIC MF Healthcare Fund

–

28.2

2.5

1.2

18.3

15.4

18.2

–

0.70

EQUITY – VALUE FUNDS

LIC MF Value Fund

–

22.4

149

2.4

1.0

5.2

11.8

21.8

–

0.62

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mahindra Manulife Consumption Fund

–

21.6

446

2.4

0.7

7.3

15.7

20.8

–

0.68

EQUITY – LARGE CAP FUNDS

Mahindra Manulife Large Cap Fund

–

22.2

611

2.4

0.7

9.2

12.3

21.3

–

0.77

EQUITY – MID CAP FUNDS

Mahindra Manulife Mid Cap Fund

–

30.4

3398

1.9

0.5

7.4

19.6

29.6

–

0.85

EQUITY – MULTI CAP FUNDS

Mahindra Manulife Multi Cap Fund

–

32.6

4883

1.8

0.4

7.1

15.0

27.7

–

0.81

HYBRID – EQUITY SAVINGS FUNDS

Mirae Asset Equity Savings Fund

–

19.5

1360

1.4

0.4

9.5

9.9

14.0

–

1.05

EQUITY – SECTOR – PHARMA FUNDS

Mirae Asset Healthcare Fund

–

36.2

2667

2.0

0.6

17.4

16.8

23.0

–

0.85

HYBRID – AGGRESSIVE HYBRID FUNDS

Navi Aggressive Hybrid Fund

–

19.4

116

2.3

0.4

8.0

10.7

16.3

–

0.72

EQUITY – TAX SAVING (ELSS) FUNDS

Navi ELSS Tax Saver Fund

–

27.3

2.3

0.4

5.9

10.4

19.3

–

0.65

EQUITY – FLEXI CAP FUNDS

Navi Flexi Cap Fund

–

21.1

241

2.3

0.4

3.8

10.1

19.6

–

0.67

HYBRID – BALANCED ADVANTAGE FUNDS

Nippon India Balanced Advantage Fund

–

170.5

8808

1.8

0.6

9.1

11.9

15.5

9.6

0.99

EQUITY – THEMATIC – CONSUMPTION FUNDS

Nippon India Consumption Fund

–

192.2

2183

2.0

0.6

11.6

18.7

26.9

14.0

0.90

EQUITY – MULTI CAP FUNDS

Nippon India Multi Cap Fund

–

273.1

38637

1.6

0.8

8.9

20.8

31.0

13.7

0.95

EQUITY – SECTOR – PHARMA FUNDS

Nippon India Pharma Fund

–

487.3

8081

1.8

0.9

14.9

18.1

22.5

13.5

0.85

HYBRID – EQUITY SAVINGS FUNDS

PGIM India Equity Savings Fund

–

48.4

1.3

0.5

7.2

6.5

9.9

7.1

1.26

HYBRID – AGGRESSIVE HYBRID FUNDS

PGIM India Hybrid Equity Fund

–

124.2

204

2.3

0.8

9.8

10.6

16.7

7.8

0.63

EQUITY – MULTI CAP FUNDS

Quant Active Fund

–

595.0

9389

1.8

0.6

-7.6

10.3

30.4

16.8

0.83

EQUITY – FLEXI CAP FUNDS

Quant Flexi Cap Fund

–

93.7

6712

1.8

0.6

-3.0

15.6

34.1

18.2

0.95

EQUITY – CONTRA FUNDS

SBI Contra Fund

–

363.1

42220

1.5

0.6

5.3

20.3

34.4

14.9

1.32

EQUITY – SECTOR – PHARMA FUNDS

SBI Healthcare Opportunities Fund

–

413.3

3611

1.9

0.9

20.3

22.5

25.1

11.3

0.96

EQUITY – THEMATIC – MNC FUNDS

SBI Magnum Global Fund

–

343.4

5973

1.9

1.2

2.0

8.1

15.9

9.6

0.58

HYBRID – AGGRESSIVE HYBRID FUNDS

Shriram Aggressive Hybrid Fund

–

30.3

2.4

0.9

1.5

9.9

14.9

8.6

0.58

EQUITY – TAX SAVING (ELSS) FUNDS

Shriram ELSS Tax Saver Fund

–

20.2

2.3

0.8

-2.3

9.8

16.4

–

0.47

EQUITY – FLEXI CAP FUNDS

Shriram Flexi Cap Fund

–

19.5

133

2.4

0.8

-3.9

10.3

17.2

–

0.49

HYBRID – CONSERVATIVE HYBRID FUNDS

Sundaram Conservative Hybrid Fund

–

29.4

2.2

1.5

8.9

7.7

9.6

6.9

1.01

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram Diversified Equity

–

208.5

1428

2.2

1.7

8.1

12.0

21.9

10.9

0.80

EQUITY – MULTI CAP FUNDS

Sundaram Multi Cap Fund

–

351.8

2615

2.0

1.0

9.0

13.6

25.2

13.8

0.82

HYBRID – BALANCED ADVANTAGE FUNDS

Tata Balanced Advantage Fund

–

19.7

10075

1.6

0.4

5.4

10.2

14.5

–

1.02

EQUITY – FLEXI CAP FUNDS

Tata Flexi Cap Fund

–

23.0

2967

2.0

0.7

12.2

13.3

19.9

–

0.72

EQUITY – SECTOR – PHARMA FUNDS

Tata India Pharma & Healthcare Fund

–

28.9

1184

2.2

0.7

15.9

18.5

22.1

–

0.82

EQUITY – SMALL CAP FUNDS

Tata Small Cap Fund

–

36.7

9203

1.7

0.3

7.9

19.5

33.9

–

0.93

EQUITY – SECTOR – BANKING FUNDS

Taurus Banking & Fin Serv Fund

–

52.4

2.3

1.6

12.5

15.1

20.9

11.5

0.59

EQUITY – TAX SAVING (ELSS) FUNDS

Taurus ELSS Tax Saver Fund

–

176.1

2.5

2.3

9.0

15.2

21.9

12.2

0.82

EQUITY – THEMATIC – INFRASTRUCTURE FUNDS

Taurus Infrastructure Fund

–

62.2

2.5

2.4

-0.3

15.4

24.7

12.6

0.70

EQUITY – LARGE CAP FUNDS

Taurus Large Cap Fund

–

149.4

2.6

2.3

5.5

12.5

19.8

8.9

0.62

HYBRID – BALANCED ADVANTAGE FUNDS

Union Balanced Advantage Fund

–

19.4

1365

2.2

0.9

6.3

9.2

13.7

–

0.93

HYBRID – EQUITY SAVINGS FUNDS

Union Equity Savings Fund

–

16.4

136

2.0

1.5

6.1

7.4

9.7

–

0.81

EQUITY – VALUE FUNDS

Union Value Fund

–

26.0

292

2.5

1.1

6.9

15.4

24.7

–

0.87

HYBRID – EQUITY SAVINGS FUNDS

UTI Equity Savings Fund

–

17.9

668

1.6

0.4

8.2

10.4

13.1

–

1.14

EQUITY – SECTOR – PHARMA FUNDS

UTI Healthcare Fund

–

268.0

1042

2.3

1.2

20.9

18.9

22.4

10.5

0.82

EQUITY – THEMATIC – MNC FUNDS

UTI MNC Fund

–

355.1

2640

2.0

1.2

1.1

10.5

14.8

8.9

0.56

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Are low volatility funds a safe harbour?

by Hansraj Agrawal | Apr 12, 2025 | Share Market

Market volatility and economic uncertainty have dominated the last six months, triggering a sharp correction across equity markets. Amid these challenges, low volatility, factor-based mutual funds have demonstrated resilience, containing losses more effectively than both their parent index and other factor-based funds.

The Nifty100 Low Volatility 30 declined 15.1 per cent from its September 2024 peak, while its parent index Nifty 100 fell slightly more at 15.7 per cent. In contrast, other factor indices saw deeper cuts: Nifty200 Momentum 30 (-31 per cent), Nifty100 Alpha 30 (-26 per cent), Nifty Quality 30 (-19 per cent), and Nifty200 Value 30 (-16.5 per cent). Total return index (TRI) is considered.

Considering their strong performance in volatile markets, should investors allocate to low-volatility factor-based funds? These strategies effectively limit downside risk, but their performance lags during trending bull markets. We explore the fundamental characteristics of this strategy and compares it with other factor-based approaches.

Cyclical nature

Low volatility is one of several smart-beta investment strategies designed to outperform traditional market capitalisation-based indices in specific market conditions. Smart beta funds passively track indices that are derived from conventional benchmarks using various fundamental, technical, and other filters applied by NSE and BSE. The Nifty 100 Low Volatility 30 index represents 30 stocks from the Nifty 100 that have shown the lowest volatility over the past year.

Other widely used factors in smart beta investing include quality, value, momentum, and alpha. The performance of smart beta strategies tends to be cyclical—some periods see strong returns, while others bring underperformance. Low volatility tends to outperform during uncertain or turbulent markets. In contrast, value strategies often shine during recovery phases, quality performs well in volatile or bear markets, and momentum tends to lead in strongly trending bull markets.

Low volatility portfolios are constructed based on price performance, specifically by evaluating the standard deviation of daily price returns over the last one year. Currently, 11 mutual fund schemes employ the low volatility strategy. Of these, nine track the Nifty 100 Low Volatility 30 index, selecting low-volatility stocks from the Nifty 100 universe. The remaining two follow the BSE Low Volatility index, which selects 30 low-volatility stocks from a broader pool of 250 large and midcap companies. Additionally, five mutual fund schemes incorporate low volatility as part of a multi-factor approach.

Defensive portfolio

Low volatility portfolios generally include companies with stable businesses. These portfolios tend to steer clear of highly cyclical or speculative stocks, instead leaning toward defensive sectors such as consumer staples, utilities, and healthcare. Over the last five years, the top sectors (as classified by ACEMF database) that were part of the Nifty 100 Low Volatility 30 index are IT (an average weight of 14.5 per cent), pharma (10 per cent), banks (8 per cent), food products (8 per cent) diversified FMCG (7.4 per cent) and automobiles (7.2 per cent).

These portfolios typically avoid sectors prone to volatile earnings and stock prices, such as commodities, real estate, capital goods, and cyclical consumer discretionary segments like luxury goods. Among the top stocks that have consistently featured in the index with significant allocations are Nestle India, Hindustan Unilever, Britannia Industries, Tata Consultancy Services, and ITC.

Performance in various cycles

The low volatility strategy exhibits distinct performance behaviour depending on market conditions. It tends to perform well in rangebound markets. But its true strength becomes apparent during market corrections and bear phases, where it typically experiences smaller declines than the overall market, leading to notable relative outperformance. The accompanying table shows that during downturns such as those from March 2015 to February 2016, January 2020 to March 2020, October 2021 to March 2023, and the ongoing phase, the low volatility index has effectively cushioned losses.

However, this strategy tends to lag during strong bull runs, largely because it avoids high-beta stocks. Such underperformance is a known trade-off for the protection it offers in downturns. Low volatility strategies generally trail the broader market during phases marked by high risk appetite, economic rebounds that favour cyclical stocks, and sector rotations toward growth and momentum themes.

Should you invest?

The inherently defensive nature of low volatility funds may result in slower portfolio growth over time. Limited exposure to mid-cap and avoidance of small-cap stocks can restrict further upside potential especially when compared to other factor-based strategies. However, the strategy’s ability to minimize drawdowns positions these funds to deliver more balanced returns and potentially stronger long-term outperformance. The accompanying rolling return chart shows that the low volatility funds can generate steady, moderate returns over longer horizons, such as 10 years or more. It posted a 15 per cent annualized return based on a 10-year rolling analysis over the past 15 years.

For investors who prioritize stability and lower risk, especially during uncertain market periods, these funds offer a compelling option.

Multi-factor funds that incorporate low volatility into their approach may present an even better alternative. By blending multiple factors, they reduce dependency on a single strategy and are better equipped to perform consistently across varying market cycles. At present, five such schemes combining alpha and low volatility are available. A portfolio allocation of around 15–20 per cent to these strategies could be a well-balanced choice for investors with moderate risk profile.

Published on April 12, 2025

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Choosing an active large-midcap fund

by Hansraj Agrawal | Apr 12, 2025 | Share Market

After several rounds of tariffs and counter tariffs, India’s Nifty-50 has corrected by 14 per cent starting from peak in Sep-24 to April 9, 2025. With a recently announced pause in tariffs, the markets recovered 2 per cent on Friday. The short-term outlook will be still clouded by uncertainty about global trade, inflation and growth after the 90-day pause.

Considering the uncertainty and despite the marginal relief rally, investors can consider a small position in Nifty Large-midcap universe through an active fund. The reason for selecting a large-midcap segment is to address the more resilient basket when facing operational volatility while an active fund can be preferred considering the varying degrees of opportunity. While a modest prescription is owing to continued volatility as the last word on tariff is yet to be spoken.

Active management and timing

The stocks in the large-midcap basket, going by the 250 stocks in Nifty Large-midcap index, have corrected by 30 per cent on average from their 52-week high. This includes erstwhile outperformers including, Cochin Shipyard, Tata Motors, Prestige Estates, Rail Vikas, Bharat Forge and Hindustan Zinc falling by around 45-50 per cent from peaks. Even strictly domestic focussed businesses like Motilal Oswal Financial services, Trent, IRB and HUDCO have fallen by around 40 per cent in the recent rout.

Overall, the slide can be attributed to a mix of factors across the board: US operational exposure, high optimism in valuations prior, or general uncertainty.

An active manager would be necessary here to separate the wheat from the chaff in the midst of a broad correction. While a portion of the correction may be justified from a valuation perspective, some others could be at a discount to growth trajectories in the eventual post-tariff world.

Further allocation will be subjective to active managers’ investment style for other stocks like Indigo, Bharti Airtel, HDFC Bank, and cement companies which have been untouched by the rout. An index fund which may “average out” the three categories of stocks may not yield optimally.

The global cues remain foggy, especially with US growth coming under cloud following the trade tariff flip-flops and the possibility of a recession also not being ruled out. Though India cannot be completely immune to these factors, domestic macros are reasonably well-placed. Inflation is under check, the RBI has cut rates while changing its stance to ‘accommodative,’ thus infusing more liquidity into the system, while growth continues to be healthy even if revised to 6.5 per cent for FY26. With the recent budget’s tax relief and the pay commission for government employees set to kick in from 2026, the consumption story could witness a revival.

The healthy correction in the broader markets have brought a semblance of valuation comfort in select mid-cap pockets, apart from a large swathe of large caps. A mix of the two could deliver well over the long term of five-plus years.

Investors can consider a modest lumpsum exposure in the active section of the large-midcap category. Alternatively, an SIP with a long-term perspective can also work well when directed towards saving towards specific goals that are 7-10 years away.

Fund choices

Despite our active recommendation at the moment, the index is a strong performer in the category. Only five of the funds have beaten index on a daily five-year rolling return CAGR average in the past decade and have similar performance across 1 and 3-year formats as well.

The top five active funds over 1, 3, and 5-year categories are listed in the table. Mirae Asset fund has demonstrated a strong performance in the category, and so have Canara Robeco, Quant and Motilal Oswal. Mirae’s five year rolling return CAGR has beaten the index 89 per cent of time in the last decade and has returned 607 bps over the index average. Even during drawdowns, the fund’s lowest point is still 520 bps over the index in the similar time frame. Though Mirae Asset’s recent performance has been lukewarm, its longer term performance has been strong and maintains a less volatile portfolio. Canara Robeco, Motilal Oswal and Quant also have healthy track records.

An SIP in the last ten years would have yielded better returns in Quant fund with an XIRR of 17 per cent followed by ICICI Pru and Mirae fund with returns of around 16.5 per cent. The index SIP would have returned a healthy 15.9 per cent, which is ahead of 78 per cent of the category funds.

The table also indicates improving performance over time, which is true for the equity class. Investors will have to stick to the fund for longer timeframes to achieve a tangible alpha over the index.

Considering the wide disparity in correction and valuations now, and diverse growth trajectories in the post-tariff world, we recommend investors to consider an active fund with a modest lumpsums or SIPs for longer terms in the current phase of correction. Further investments if required will depend on how the current market phase pans out and can be revisited in the future.

Published on April 12, 2025

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Mutual Funds returns

by Hansraj Agrawal | Apr 12, 2025 | Share Market

DEBT – BANKING AND PSU FUNDS

Aditya Birla SL Bank & PSU Debt

361.8

8588

0.7

0.4

8.9

7.9

6.9

–

DEBT – DYNAMIC BOND FUNDS

Aditya Birla Sun Life Dynamic Bond Fund

45.9

1767

1.2

0.6

10.5

8.7

8.5

7.8

8.32

DEBT – MONEY MARKET FUNDS

Aditya Birla Sun Life Money Manager Fund

364.7

25581

0.4

0.2

7.9

7.8

7.1

6.2

–

DEBT – CREDIT RISK FUNDS

Baroda BNP Paribas Credit Risk Fund

21.8

173

1.6

0.8

8.8

8.2

7.2

9.1

64.70

DEBT – FLOATER FUNDS

HDFC Floating Rate Debt Fund

49.2

14724

0.5

0.3

8.7

8.3

7.5

7.0

5.71

DEBT – BANKING AND PSU FUNDS

ICICI Prudential Banking & PSU Debt Fund

32.3

10368

0.7

0.4

8.7

8.1

7.4

7.1

–

DEBT – CORPORATE BOND FUNDS

ICICI Prudential Corporate Bond Fund

29.4

29929

0.6

0.4

8.9

8.3

7.6

7.3

–

DEBT – GILT FUNDS

ICICI Prudential Gilt Fund

101.8

7133

1.1

0.6

9.9

9.0

8.2

7.6

–

DEBT – MEDIUM DURATION FUNDS

ICICI Prudential Medium Term Bond Fund

44.1

5684

1.4

0.7

9.1

8.1

7.4

41.44

DEBT – LOW DURATION FUNDS

ICICI Prudential Savings Fund

535.2

21474

0.5

0.4

8.1

8.0

7.3

6.7

3.68

DEBT – SHORT DURATION FUNDS

ICICI Prudential Short Term Fund

59.3

20428

1.0

0.5

8.7

8.1

7.5

7.2

6.47

DEBT – CORPORATE BOND FUNDS

Nippon India Corporate Bond Fund

59.1

6738

0.7

0.4

9.4

8.4

7.5

7.1

–

DEBT – MONEY MARKET FUNDS

Nippon India Money Market Fund

4090.7

15230

0.4

0.3

7.9

7.8

7.2

6.1

–

DEBT – ULTRA SHORT DURATION FUNDS

Nippon India Ultra Short Duration Fund

3971.5

6498

1.1

0.4

7.3

7.1

6.6

6.5

10.15

DEBT – GILT FUNDS

SBI Magnum Gilt Fund

66.0

11489

0.9

0.5

10.5

9.1

8.3

7.4

–

DEBT – LOW DURATION FUNDS

UTI Low Duration Fund

3493.9

2735

0.5

0.4

8.0

7.7

6.9

7.3

7.52

DEBT – MEDIUM TO LONG DURATION FUNDS

UTI Medium to Long Duration Fund

72.8

320

1.6

1.2

9.7

8.1

9.9

9.3

4.72

DEBT – SHORT DURATION FUNDS

UTI Short Duration Fund

31.3

2566

0.8

0.4

8.5

7.9

7.0

7.7

3.53

DEBT – ULTRA SHORT DURATION FUNDS

UTI Ultra Short Duration Fund

4179.7

3143

0.9

0.4

7.3

7.1

6.5

6.1

6.58

DEBT – DYNAMIC BOND FUNDS

360 ONE Dynamic Bond Fund

22.2

724

0.5

0.3

9.9

9.0

7.4

7.0

3.44

DEBT – CORPORATE BOND FUNDS

Aditya Birla Sun Life Corporate Bond Fund

111.5

24570

0.5

0.3

9.5

8.5

7.4

7.5

–

DEBT – FLOATER FUNDS

Aditya Birla Sun Life Floating Rate Fund

342.5

13275

0.4

0.2

8.2

8.0

7.2

6.7

–

DEBT – ULTRA SHORT DURATION FUNDS

Aditya Birla Sun Life Savings Fund

539.5

13294

0.6

0.3

7.9

7.7

7.0

6.3

14.77

DEBT – SHORT DURATION FUNDS

Aditya Birla Sun Life Short Term Fund

46.9

8068

1.0

0.4

8.8

7.9

7.1

7.3

3.42

DEBT – CORPORATE BOND FUNDS

Axis Corporate Bond Fund

16.8

6203

0.9

0.3

9.1

8.1

7.0

7.1

–

DEBT – GILT FUNDS

Axis Gilt Fund

25.5

868

0.8

0.4

11.1

9.4

7.9

7.1

–

DEBT – SHORT DURATION FUNDS

Axis Short Duration Fund

30.4

9024

0.9

0.4

8.9

7.9

7.0

6.7

0.83

DEBT – MEDIUM DURATION FUNDS

Axis Strategic Bond Fund

27.6

1899

1.2

0.6

9.5

8.5

7.5

7.3

45.89

DEBT – LOW DURATION FUNDS

Axis Treasury Advantage Fund

3046.3

5830

0.7

0.4

7.9

7.6

6.9

6.2

0.95

DEBT – ULTRA SHORT DURATION FUNDS

Baroda BNP Paribas Ultra Short Duration

1519.5

1073

0.5

0.3

7.6

7.5

6.9

5.8

0.75

DEBT – BANKING AND PSU FUNDS

DSP Banking & PSU Debt Fund

23.8

3409

0.7

0.3

9.2

8.2

7.1

6.7

–

DEBT – GILT FUNDS

DSP Gilt Fund

95.8

1566

1.2

0.6

10.7

9.4

8.0

7.3

–

DEBT – DYNAMIC BOND FUNDS

DSP Strategic Bond Fund

3370.5

1504

1.2

0.5

10.5

9.7

7.8

7.0

–

DEBT – GILT FUNDS

Edelweiss Government Securities Fund

24.5

171

1.2

0.5

10.1

8.7

7.5

7.3

–

DEBT – BANKING AND PSU FUNDS

HDFC Banking and PSU Debt Fund

22.7

5996

0.7

0.4

8.8

7.9

6.9

6.8

–

DEBT – CORPORATE BOND FUNDS

HDFC Corporate Bond Fund

32.1

32527

0.6

0.4

9.3

8.5

7.3

7.2

–

DEBT – LOW DURATION FUNDS

HDFC Low Duration Fund

56.9

18185

1.0

0.5

7.7

7.5

6.7

6.3

7.36

DEBT – SHORT DURATION FUNDS

HDFC Short Term Debt Fund

31.5

14208

0.7

0.4

8.9

8.2

7.2

7.1

3.43

DEBT – ULTRA SHORT DURATION FUNDS

HDFC Ultra Short Term Fund

14.9

13225

0.7

0.4

7.5

7.4

6.7

5.9

2.45

DEBT – DYNAMIC BOND FUNDS

ICICI Prudential All Seasons Bond Fund

36.5

14363

1.3

0.6

9.6

8.6

7.9

7.5

21.29

DEBT – MEDIUM TO LONG DURATION FUNDS

ICICI Prudential Bond Fund

39.8

2816

1.0

0.6

10.1

8.9

7.9

7.2

–

DEBT – CREDIT RISK FUNDS

ICICI Prudential Credit Risk Fund

31.1

6131

1.4

0.8

8.8

8.2

7.4

7.5

62.50

DEBT – MONEY MARKET FUNDS

ICICI Prudential Money Market Fund

374.1

24184

0.3

0.2

7.9

7.8

7.1

6.1

–

DEBT – ULTRA SHORT DURATION FUNDS

ICICI Prudential Ultra Short Term Fund

27.3

12674

0.8

0.4

7.5

7.3

6.7

6.0

6.92

DEBT – BANKING AND PSU FUNDS

Kotak Banking and PSU Debt Fund

64.5

6011

0.8

0.4

8.9

8.0

7.0

6.9

–

DEBT – CREDIT RISK FUNDS

Nippon India Credit Risk Fund

34.3

1001

1.5

0.7

9.0

8.5

7.4

8.5

62.25

DEBT – LOW DURATION FUNDS

Nippon India Low Duration Fund

3686.6

6876

1.0

0.4

7.6

7.3

6.6

6.0

7.18

DEBT – DYNAMIC BOND FUNDS

SBI Dynamic Bond Fund

35.5

3410

1.4

0.6

9.7

8.6

7.9

6.8

–

DEBT – MEDIUM TO LONG DURATION FUNDS

SBI Magnum Income Fund

70.0

1918

1.5

0.8

9.4

8.2

7.4

7.0

17.18

DEBT – MEDIUM DURATION FUNDS

SBI Magnum Medium Duration Fund

50.5

6481

1.2

0.7

9.0

8.1

7.2

33.74

DEBT – SHORT DURATION FUNDS

Sundaram Short Duration Fund

43.6

202

1.1

0.3

8.8

7.8

6.8

6.6

–

DEBT – MONEY MARKET FUNDS

Tata Money Market Fund

4654.6

26844

0.4

0.2

7.9

7.8

7.1

6.2

–

DEBT – LOW DURATION FUNDS

Tata Treasury Advantage Fund

3872.4

2324

0.6

0.3

7.7

7.4

6.6

6.1

–

DEBT – GILT FUNDS

UTI Gilt Fund

62.7

733

0.9

0.7

10.1

8.6

7.6

6.5

–

DEBT – MONEY MARKET FUNDS

UTI Money Market Fund

3039.5

16265

0.2

0.1

8.0

7.8

7.2

6.2

–

DEBT – GILT FUNDS

Aditya Birla Sun Life Government Securities

81.3

1972

1.1

0.5

10.1

8.8

7.3

7.0

–

DEBT – MEDIUM TO LONG DURATION FUNDS

Aditya Birla Sun Life Income Fund

124.7

2242

1.2

0.7

9.7

8.1

6.8

7.3

–

DEBT – LOW DURATION FUNDS

Aditya Birla Sun Life Low Duration Fund

646.9

11919

1.2

0.4

7.4

7.1

6.5

6.0

4.70

DEBT – BANKING AND PSU FUNDS

Axis Banking & PSU Debt Fund

2597.5

12961

0.6

0.4

8.6

7.6

6.7

6.5

–

DEBT – CREDIT RISK FUNDS

Axis Credit Risk Fund

21.0

360

1.6

0.8

8.7

7.8

7.0

6.9

70.01

DEBT – ULTRA SHORT DURATION FUNDS

Axis Ultra Short Duration Fund

14.5

4801

1.2

0.4

7.1

6.9

6.3

5.4

4.60

DEBT – BANKING AND PSU FUNDS

Bandhan Banking & PSU Debt Fund

24.3

13397

0.6

0.3

8.5

7.5

6.7

6.6

–

DEBT – SHORT DURATION FUNDS

Bandhan Bond Fund – Short Term Plan

56.3

9674

0.8

0.3

8.9

7.8

6.7

6.4

–

DEBT – CORPORATE BOND FUNDS

Bandhan Corporate Bond Fund

19.0

14114

0.7

0.3

9.0

7.8

6.5

6.8

–

DEBT – GILT FUNDS

Bandhan GSec Fund – Investment Plan

35.3

3542

1.1

0.5

10.5

9.1

7.4

7.0

–

DEBT – LOW DURATION FUNDS

Bandhan Low Duration Fund

38.0

5531

0.6

0.3

7.7

7.3

6.6

5.9

–

DEBT – ULTRA SHORT DURATION FUNDS

Bandhan Ultra Short Term Fund

15.0

3556

0.5

0.3

7.5

7.4

6.7

5.7

–

DEBT – DYNAMIC BOND FUNDS

Baroda BNP Paribas Dynamic Bond Fund

45.6

164

1.7

0.7

9.8

8.3

7.5

6.1

–

DEBT – LOW DURATION FUNDS

Canara Robeco Savings Fund

41.5

992

0.6

0.3

7.7

7.4

6.6

5.8

–

DEBT – LOW DURATION FUNDS

DSP Low Duration Fund

19.5

4196

0.6

0.3

7.7

7.4

6.7

5.9

–

DEBT – MONEY MARKET FUNDS

DSP Savings Fund

51.9

4325

0.5

0.3

7.4

6.6

5.8

–

DEBT – SHORT DURATION FUNDS

DSP Short Term Fund

45.9

3061

1.0

0.3

8.5

7.6

6.5

6.2

–

DEBT – BANKING AND PSU FUNDS

Edelweiss Banking and PSU Debt Fund

24.3

263

0.7

0.4

9.1

7.9

7.0

7.3

–

DEBT – BANKING AND PSU FUNDS

Franklin India Banking & PSU Debt Fund

22.1

547

0.5

0.2

8.5

7.7

6.7

6.4

5.61

DEBT – CORPORATE BOND FUNDS

Franklin India Corporate Debt Fund

97.0

759

0.8

0.2

8.5

7.5

6.5

5.56

DEBT – MONEY MARKET FUNDS

Franklin India Money Market Fund

49.5

2547

0.3

0.1

8.0

7.7

7.0

5.9

–

DEBT – CREDIT RISK FUNDS

HDFC Credit Risk Debt Fund

23.6

7230

1.6

1.0

8.4

7.8

6.8

7.4

51.91

DEBT – DYNAMIC BOND FUNDS

HDFC Dynamic Debt Fund

89.1

778

1.5

0.8

9.5

8.3

7.1

–

DEBT – GILT FUNDS

HDFC Gilt Fund

55.2

2907

0.9

0.5

10.5

8.7

7.5

6.4

–

DEBT – MEDIUM DURATION FUNDS

HDFC Medium Term Debt Fund

55.5

3861

1.3

0.7

8.9

8.0

6.9

6.8

22.18

DEBT – MONEY MARKET FUNDS

HDFC Money Market Fund

5635.1

26034

0.4

0.2

7.9

7.7

7.0

6.2

–

DEBT – DYNAMIC BOND FUNDS

HSBC Dynamic Bond Fund

29.5

152

0.8

0.2

10.2

8.5

7.3

6.4

–

DEBT – LOW DURATION FUNDS

HSBC Low Duration Fund

27.9

538

1.1

0.4

7.8

7.6

6.7

6.0

5.57

DEBT – MEDIUM DURATION FUNDS

HSBC Medium Duration Fund

20.1

658

1.1

0.4

9.3

8.2

7.0

6.9

22.65

DEBT – FLOATER FUNDS

ICICI Prudential Floating Interest Fund

417.7

6964

1.2

0.6

8.3

8.2

7.4

6.9

17.14

DEBT – CORPORATE BOND FUNDS

Invesco India Corporate Bond Fund

3133.9

5643

0.7

0.3

9.1

8.0

6.8

6.6

–

DEBT – LOW DURATION FUNDS

Invesco India Low Duration Fund

3726.4

1431

0.6

0.3

7.7

7.4

6.6

6.0

2.32

DEBT – ULTRA SHORT DURATION FUNDS

Invesco India Ultra Short Duration Fund

2658.9

859

0.7

0.2

7.4

7.3

6.5

5.4

3.97

DEBT – MEDIUM TO LONG DURATION FUNDS

Kotak Bond Fund

76.1

2031

1.7

0.7

9.2

8.1

7.0

6.5

–

DEBT – SHORT DURATION FUNDS

Kotak Bond Short Term Fund

51.4

16681

1.1

0.4

8.7

7.7

6.6

6.4

–

DEBT – CORPORATE BOND FUNDS

Kotak Corporate Bond Fund

3718.6

14639

0.7

0.3

9.2

8.2

7.1

6.8

–

DEBT – DYNAMIC BOND FUNDS

Kotak Dynamic Bond Fund

37.1

2826

1.3

0.6

9.7

8.8

7.1

–

DEBT – FLOATER FUNDS

Kotak Floating Rate Fund

1485.6

3218

0.6

0.3

8.9

8.1

7.0

7.1

0.78

DEBT – GILT FUNDS

Kotak Gilt Fund

96.5

3934

1.5

0.5

9.9

8.5

7.4

6.6

–

DEBT – LOW DURATION FUNDS

Kotak Low Duration Fund

3293.3

11266

1.2

0.4

7.6

7.2

6.5

6.0

6.34

DEBT – MEDIUM DURATION FUNDS

Kotak Medium Term Fund

22.3

1766

1.6

0.7

9.0

8.3

6.8

33.57

DEBT – MONEY MARKET FUNDS

Kotak Money Market Fund

4426.9

25008

0.4

0.2

7.9

7.7

7.1

6.0

–

DEBT – ULTRA SHORT DURATION FUNDS

Kotak Savings Fund

42.3

11873

0.8

0.4

7.3

7.1

6.6

5.6

2.53

DEBT – BANKING AND PSU FUNDS

LIC MF Banking & PSU Fund

34.3

1702

0.8

0.3

8.8

7.8

6.6

6.2

–

DEBT – MEDIUM TO LONG DURATION FUNDS

LIC MF Medium to Long Duration Fund

71.7

191

1.2

0.2

10.0

8.5

7.5

6.3

–

DEBT – BANKING AND PSU FUNDS

Nippon India Banking & PSU Debt Fund

20.5

5702

0.8

0.4

8.9

7.9

6.8

–

DEBT – FLOATER FUNDS

Nippon India Floating Rate Fund

44.5

7646

0.6

0.3

8.9

8.2

7.1

–

DEBT – GILT FUNDS

Nippon India Gilt Securities Fund

38.1

2060

1.3

0.5

10.1

8.6

7.4

6.4

–

DEBT – MEDIUM TO LONG DURATION FUNDS

Nippon India Income Fund

89.1

420

1.5

0.7

9.3

8.1

7.3

6.2

–

DEBT – SHORT DURATION FUNDS

Nippon India Short Term Fund

52.0

6232

0.9

0.4

8.8

8.0

6.8

6.7

4.13

DEBT – DYNAMIC BOND FUNDS

PGIM India Dynamic Bond Fund

2622.0

103

1.6

0.4

10.1

8.5

7.0

6.3

–

DEBT – GILT FUNDS

PGIM India Gilt Fund

30.2

116

1.5

0.5

10.0

8.6

7.2

6.3

–

DEBT – ULTRA SHORT DURATION FUNDS

PGIM India Ultra Short Duration Fund

33.6

204

0.9

0.3

7.0

6.8

6.3

5.4

–

DEBT – CORPORATE BOND FUNDS

SBI Corporate Bond Fund

15.3

22154

0.8

0.4

9.0

7.9

6.8

6.6

–

DEBT – CREDIT RISK FUNDS

SBI Credit Risk Fund

44.9

2255

1.6

0.9

8.9

7.9

7.5

7.3

77.15

DEBT – LOW DURATION FUNDS

SBI Magnum Low Duration Fund

3441.8

14392

0.9

0.4

7.6

7.3

6.5

5.8

–

DEBT – ULTRA SHORT DURATION FUNDS

SBI Magnum Ultra Short Duration Fund

5888.0

12470

0.5

0.3

7.5

7.4

6.7

5.8

–

DEBT – MONEY MARKET FUNDS

SBI Savings Fund

40.9

24003

0.7

0.3

7.5

7.3

6.6

5.7

–

DEBT – SHORT DURATION FUNDS

SBI Short Term Debt Fund

31.6

13959

0.9

0.4

8.7

7.7

6.7

6.4

4.96

DEBT – CORPORATE BOND FUNDS

Sundaram Corporate Bond Fund

39.6

699

0.5

0.3

9.1

7.8

6.7

–

DEBT – MONEY MARKET FUNDS

Sundaram Money Market Fund

14.8

1292

0.5

0.2

7.8

7.5

6.9

5.7

–

DEBT – SHORT DURATION FUNDS

Tata Short Term Bond Fund

47.3

2834

1.2

0.4

8.4

7.4

6.5

6.2

–

DEBT – CORPORATE BOND FUNDS

UTI Corporate Bond Fund

16.2

5007

0.6

0.3

9.0

8.0

6.9

–

DEBT – CREDIT RISK FUNDS

UTI Credit Risk Fund

16.8

288

1.7

1.2

8.5

7.6

6.7

7.5

60.95

DEBT – DYNAMIC BOND FUNDS

UTI Dynamic Bond Fund

30.7

447

1.5

0.7

9.4

8.1

9.6

9.4

–

DEBT – ULTRA SHORT DURATION FUNDS

WhiteOak Capital Ultra Short Duration Fund

1343.2

395

1.0

0.5

7.0

6.8

6.2

5.1

–

DEBT – DYNAMIC BOND FUNDS

Axis Dynamic Bond Fund

29.3

1355

0.6

0.3

9.7

8.4

7.4

7.2

–

DEBT – CREDIT RISK FUNDS

Bandhan Credit Risk Fund

16.2

286

1.7

0.7

8.0

7.0

6.2

5.9

54.33

DEBT – DYNAMIC BOND FUNDS

Bandhan Dynamic Bond Fund

34.0

2962

1.6

0.7

10.0

8.6

6.9

6.5

–

DEBT – ULTRA SHORT DURATION FUNDS

BOI Ultra Short Duration

3119.1

155

0.9

0.3

6.9

6.6

6.2

5.2

–

DEBT – GILT FUNDS

Baroda BNP Paribas Gilt Fund

42.4

1627

0.5

0.1

11.0

9.3

7.9

6.4

–

DEBT – LOW DURATION FUNDS

Baroda BNP Paribas Low Duration Fund

39.5

274

1.1

0.3

7.3

7.1

6.3

5.7

1.83

DEBT – MONEY MARKET FUNDS

Baroda BNP Paribas Money Market Fund

1358.8

1219

0.4

0.2

7.7

7.4

6.6

5.2

–

DEBT – SHORT DURATION FUNDS

Baroda BNP Paribas Short Duration Fund

28.8

204

1.1

0.4

8.6

7.8

6.7

6.0

2.45

DEBT – CORPORATE BOND FUNDS

Canara Robeco Corporate Bond Fund

21.5

119

1.0

0.4

8.1

7.2

6.2

6.0

–

DEBT – DYNAMIC BOND FUNDS

Canara Robeco Dynamic Bond Fund

29.4

125

1.8

0.6

8.9

7.5

6.6

5.7

–

DEBT – GILT FUNDS

Canara Robeco Gilt Fund

75.6

133

1.3

0.5

9.9

8.3

7.2

6.4

–

DEBT – MEDIUM TO LONG DURATION FUNDS

Canara Robeco Income Fund

55.1

119

1.9

0.8

8.6

7.1

6.1

5.6

–

DEBT – ULTRA SHORT DURATION FUNDS

Canara Robeco Ultra Short Term Fund

3747.2

514

1.0

0.4

7.0

6.8

6.1

5.0

–

DEBT – MEDIUM DURATION FUNDS

DSP Bond Fund

80.6

305

0.8

0.4

9.1

8.1

7.0

6.7

–

DEBT – ULTRA SHORT DURATION FUNDS

DSP Ultra Short Fund

3359.6

3349

1.0

0.3

7.2

7.1

6.4

5.3

1.54

DEBT – FLOATER FUNDS

Franklin India Floating Rate Fund

40.2

314

1.0

0.3

9.0

8.3

7.3

6.2

4.89

DEBT – MEDIUM TO LONG DURATION FUNDS

HDFC Income Fund

57.8

885

1.4

0.8

9.8

8.4

7.0

5.9

–

DEBT – CORPORATE BOND FUNDS

HSBC Corporate Bond Fund

71.9

5808

0.6

0.3

8.9

7.7

6.8

7.0

–

DEBT – CREDIT RISK FUNDS

HSBC Credit Risk Fund

28.7

598

1.7

0.9

9.2

7.8

6.8

6.3

62.21

DEBT – MONEY MARKET FUNDS

HSBC Money Market Fund

26.0

2536

0.4

0.2

7.7

7.5

6.7

5.5

–

DEBT – SHORT DURATION FUNDS

HSBC Short Duration Fund

26.1

3683

0.8

0.3

8.7

7.6

6.4

6.1

–

DEBT – BANKING AND PSU FUNDS

Invesco India Banking and PSU Fund

2235.7

102

0.6

0.3

8.8

7.9

6.5

6.4

–

DEBT – GILT FUNDS

Invesco India Gilt Fund

2838.1

953

1.3

0.5

10.5

9.2

7.8

6.0

–

DEBT – MONEY MARKET FUNDS

Invesco India Money Market Fund

3004.0

5446

0.5

0.2

7.6

7.4

6.6

5.7

–

DEBT – SHORT DURATION FUNDS

Invesco India Short Duration Fund

3512.0

715

1.1

0.4

8.4

7.6

6.4

6.0

2.39

DEBT – LOW DURATION FUNDS

LIC MF Low Duration Fund

39.0

1450

1.0

0.3

7.4

7.0

6.3

5.9

–

DEBT – LOW DURATION FUNDS

Mirae Asset Low Duration Fund

2225.7

1415

0.9

0.2

7.7

7.3

6.5

5.7

2.12

DEBT – SHORT DURATION FUNDS

Mirae Asset Short Duration Fund

15.5

347

1.1

0.3

8.7

7.5

6.5

6.0

4.61

DEBT – DYNAMIC BOND FUNDS

Nippon India Dynamic Bond Fund

36.8

4358

0.7

0.3

10.0

8.6

7.5

6.8

–

DEBT – MEDIUM DURATION FUNDS

Nippon India Strategic Debt Fund

15.3

1.1

0.5

9.3

7.9

6.8

7.9

43.63

DEBT – BANKING AND PSU FUNDS

SBI Banking and PSU Fund

3072.2

3835

0.8

0.4

8.6

7.7

6.6

6.4

7.22

DEBT – BANKING AND PSU FUNDS

Sundaram Banking & PSU Fund

42.5

353

0.4

0.3

9.0

8.0

6.8

6.0

–

DEBT – LOW DURATION FUNDS

Sundaram Low Duration Fund

3411.2

342

1.2

0.4

7.6

7.1

6.4

5.4

2.93

DEBT – GILT FUNDS

Tata Gilt Securities Fund

77.8

1003

1.4

0.3

9.5

8.4

7.6

6.1

–

DEBT – ULTRA SHORT DURATION FUNDS

Tata Ultra Short Term Fund

14.0

3938

1.1

0.3

7.1

6.9

6.3

5.3

6.49

DEBT – CORPORATE BOND FUNDS

Union Corporate Bond Fund

15.1

320

0.7

0.4

9.0

7.9

6.5

–

DEBT – MEDIUM TO LONG DURATION FUNDS

Bandhan Bond Fund – Income Plan

64.4

491

2.0

1.3

8.3

7.2

6.0

5.6

–

DEBT – MEDIUM DURATION FUNDS

Bandhan Bond Fund – Medium Term Plan

45.2

1459

1.3

0.6

8.8

7.4

6.1

5.9

–

DEBT – MONEY MARKET FUNDS

Bandhan Money Manager Fund

39.7

10048

0.4

0.1

7.6

7.2

6.5

5.4

–

DEBT – CORPORATE BOND FUNDS

Baroda BNP Paribas Corporate Bond Fund

27.0

196

0.6

0.2

9.2

8.2

6.8

6.2

–

DEBT – SHORT DURATION FUNDS

Canara Robeco Short Duration Fund

25.0

334

1.0

0.4

8.0

7.2

6.2

5.9

–

DEBT – CORPORATE BOND FUNDS

DSP Corporate Bond Fund

15.7

2669

0.6

0.3

8.3

7.5

6.3

6.0

–

DEBT – MONEY MARKET FUNDS

Edelweiss Money Market Fund

28.1

1371

0.8

0.2

7.3

7.0

6.1

5.1

–

DEBT – GILT FUNDS

Franklin India Government Securities Fund

58.5

150

1.2

0.6

9.5

7.4

6.3

5.5

–

DEBT – BANKING AND PSU FUNDS

HSBC Banking and PSU Debt Fund

23.9

4251

0.6

0.2

8.1

7.4

6.1

6.0

–

DEBT – GILT FUNDS

HSBC Gilt Fund

66.1

251

1.7

0.5

9.4

7.6

6.7

5.8

–

DEBT – LOW DURATION FUNDS

JM Low Duration Fund

36.5

224

0.7

0.4

7.7

7.3

6.5

9.5

4.48

DEBT – CREDIT RISK FUNDS

Kotak Credit Risk Fund

28.8

709

1.7

0.8

7.0

7.4

5.4

5.7

59.50

DEBT – SHORT DURATION FUNDS

LIC MF Short Duration Fund

14.4

111

1.3

0.4

8.3

7.3

6.0

5.6

–

DEBT – LOW DURATION FUNDS

Mahindra Manulife Low Duration Fund

1611.1

557

1.1

0.3

7.5

7.2

6.4

5.6

7.02

DEBT – DYNAMIC BOND FUNDS

Mirae Asset Dynamic Bond Fund

15.9

117

1.0

0.2

7.6

6.7

5.7

5.2

–

DEBT – ULTRA SHORT DURATION FUNDS

Motilal Oswal Ultra Short Term Fund

16.3

517

1.1

0.5

6.0

5.5

4.4

–

DEBT – ULTRA SHORT DURATION FUNDS

Sundaram Ultra Short Duration Fund

2651.9

1723

1.5

0.2

6.5

6.4

5.8

4.7

–

DEBT – DYNAMIC BOND FUNDS

Union Dynamic Bond Fund

23.3

1.6

1.3

10.0

8.3

6.9

6.0

–

DEBT – BANKING AND PSU FUNDS

UTI Banking & PSU Fund

21.6

785

0.5

0.3

8.4

7.5

9.0

7.5

–

DEBT – FLOATER FUNDS

UTI Floater Fund

1475.1

1385

0.8

0.5

7.5

7.2

6.5

5.8

–

DEBT – CREDIT RISK FUNDS

Aditya Birla Sun Life Credit Risk Fund

–

21.9

970

1.5

0.7

16.7

11.7

10.5

9.6

62.39

DEBT – MEDIUM DURATION FUNDS

Aditya Birla Sun Life Medium Term Plan

–

39.1

2206

1.6

0.9

13.9

10.3

14.2

12.8

38.15

DEBT – MONEY MARKET FUNDS

Axis Money Market Fund

–

1410.4

14611

0.3

0.2

7.9

7.8

7.1

6.1

–

DEBT – FLOATER FUNDS

Bandhan Floating Rate Fund

–

12.7

257

0.8

0.3

9.1

7.9

6.9

–

21.52

DEBT – GILT FUND WITH 10 YEAR CONSTANT DURATION

Bandhan Government Securities Fund – Constant Maturity Plan

–

45.3

342

0.4

0.1

11.4

9.4

8.3

6.9

–

DEBT – CREDIT RISK FUNDS

Bank of India Credit Risk Fund

–

12.1

110

1.4

1.0

5.4

6.1

5.4

10.6

59.20

DEBT – SHORT DURATION FUNDS

Bank of India Short Term Income Fund

–

26.4

114

1.0

0.5

9.9

7.9

9.2

8.2

–

DEBT – BANKING AND PSU FUNDS

Baroda BNP Paribas Banking & PSU Bond

–

12.5

0.8

0.4

8.8

7.7

6.3

–

DEBT – GILT FUND WITH 10 YEAR CONSTANT DURATION

DSP 10Y G-Sec Fund

–

21.6

0.5

0.3

10.7

8.9

8.0

6.0

–

DEBT – CREDIT RISK FUNDS

DSP Credit Risk Fund

–

48.5

207

1.2

0.4

22.1

18.6

13.8

10.8

63.84

DEBT – FLOATER FUNDS

DSP Floater Fund

–

13.0

537

0.5

0.2

9.8

9.1

7.6

–

DEBT – CORPORATE BOND FUNDS

Edel Nifty PSU Bond Pl SDL Apr26 50:50 Index Fund

–

12.8

7610

0.4

0.2

7.9

7.3

6.3

–

DEBT – SHORT DURATION FUNDS

Franklin India Short Term Income Plan

–

5149.4

0.0

1.9

3.1

6.2

–

DEBT – DYNAMIC BOND FUNDS

Groww Dynamic Bond Fund

–

1461.3

1.5

0.5

8.4

6.8

6.0

5.7

–

DEBT – SHORT DURATION FUNDS

Groww Short Duration Fund

–

2050.4

1.6

0.4

8.0

6.7

5.7

5.0

–

DEBT – MEDIUM TO LONG DURATION FUNDS

HSBC Medium to Long Duration Fund Fund

–

41.9

1.8

0.6

9.1

7.3

6.2

5.3

–

DEBT – ULTRA SHORT DURATION FUNDS

HSBC Ultra Short Duration Fund

–

1334.2

2260

0.5

0.2

7.5

7.4

6.8

5.7

–

DEBT – GILT FUND WITH 10 YEAR CONSTANT DURATION

ICICI Prudential Constant Maturity Gilt Fund

–

24.4

2537

0.4

0.2

11.3

9.3

8.2

7.1

–

DEBT – LONG DURATION FUNDS

ICICI Prudential Long Term Bond Fund

–

89.6

1078

1.0

0.4

11.1

9.5

8.2

6.4

–

DEBT – CREDIT RISK FUNDS

Invesco India Credit Risk Fund

–

1904.3

144

1.5

0.3

10.3

9.1

8.6

7.1

52.84

DEBT – BANKING AND PSU FUNDS

ITI Banking & PSU Debt Fund

–

12.8

0.7

0.2

8.1

7.4

6.7

–

DEBT – DYNAMIC BOND FUNDS

JM Dynamic Bond Fund

–

41.3

1.0

0.5

10.1

8.2

7.2

6.5

–

DEBT – MEDIUM TO LONG DURATION FUNDS

JM Medium to Long Duration Fund

–

61.5

1.1

0.5

9.8

8.1

6.8

5.8

–

DEBT – GILT FUNDS

LIC MF Gilt Fund

–

59.8

1.5

1.7

9.7

8.2

6.8

6.1

–

DEBT – ULTRA SHORT DURATION FUNDS

LIC MF Ultra Short Duration Fund

–

1303.8

307

1.0

0.3

7.0

6.6

6.1

5.1

–

DEBT – DYNAMIC BOND FUNDS

Mahindra Manulife Dynamic Bond Fund

–

14.2

1.6

0.4

9.2

7.8

6.5

5.0

6.44

DEBT – SHORT DURATION FUNDS

Mahindra Manulife Short Duration Fund

–

12.6

1.3

0.3

8.4

7.5

6.4

–

2.00

DEBT – ULTRA SHORT DURATION FUNDS

Mahindra Manulife Ultra Short Duration Fund

–

1356.2

217

0.7

0.3

7.5

7.3

6.6

5.6

1.94

DEBT – BANKING AND PSU FUNDS

Mirae Asset Banking and PSU Fund

–

12.8

0.8

0.3

8.7

7.7

6.5

–

DEBT – CORPORATE BOND FUNDS

Mirae Asset Corporate Bond Fund

–

12.6

0.6

0.2

9.0

7.8

6.6

–

DEBT – ULTRA SHORT DURATION FUNDS

Mirae Asset Ultra Short Duration Fund

–

1288.5

1415

0.4

0.2

7.8

7.6

6.9

–

3.11

DEBT – LONG DURATION FUNDS

Nippon India Nivesh Lakshya Fund

–

17.8

9659

0.6

0.3

11.0

9.7

8.9

7.1

–

DEBT – CORPORATE BOND FUNDS

PGIM India Corporate Bond Fund

–

42.6

1.0

0.3

8.6

7.6

6.5

6.6

–

DEBT – MONEY MARKET FUNDS

PGIM India Money Market Fund

–

1308.8

161

0.5

0.2

7.5

7.3

6.7

5.5

–

DEBT – DYNAMIC BOND FUNDS

Quantum Dynamic Bond Fund

–

21.3

133

1.0

0.5

10.3

9.1

8.1

6.9

–

DEBT – FLOATER FUNDS

SBI Floating Rate Debt Fund

–

13.1

1226

0.4

0.3

8.5

8.3

7.3

–

DEBT – GILT FUND WITH 10 YEAR CONSTANT DURATION

SBI Magnum Constant Maturity Fund

–

63.2

1831

0.6

0.3

10.9

9.0

8.1

6.7

–

DEBT – MEDIUM DURATION FUNDS

Sundaram Medium Duration Fund

–

68.3

2.2

1.4

7.4

6.2

5.2

4.8

–

DEBT – BANKING AND PSU FUNDS

TRUSTMF Banking & PSU Fund

–

1249.8

131

0.7

0.2

8.3

7.5

6.2

–

DEBT – MEDIUM DURATION FUNDS

UTI Medium Duration Fund

–

18.0

1.5

0.8

8.6

7.6

6.6

5.9

21.47

SOLUTION ORIENTED – CHILDREN’S FUNDS

Axis Children’s Fund

–

24.1

865

2.3

1.3

6.6

5.8

14.9

–

0.58

SOLUTION ORIENTED – RETIREMENT FUNDS

Franklin India Pension Plan

–

208.3

506

2.3

1.5

5.6

9.1

10.8

7.7

0.70

SOLUTION ORIENTED – CHILDREN’S FUNDS

HDFC Children’s Fund

–

271.7

9590

1.7

0.9

3.8

13.4

21.9

12.2

0.97

SOLUTION ORIENTED – RETIREMENT FUNDS

HDFC Retirement Savings Fund – Equity Plan

–

46.0

5983

1.8

0.9

2.0

15.7

28.1

–

1.05

SOLUTION ORIENTED – RETIREMENT FUNDS

HDFC Retire Savings-Hybrid-Debt

–

21.0

159

2.1

1.0

6.4

8.5

9.5

–

0.95

SOLUTION ORIENTED – RETIREMENT FUNDS

HDFC Retirement Savings-Hybrid-Eq

–

35.8

1567

2.1

1.0

2.8

12.5

20.2

–

0.92

SOLUTION ORIENTED – CHILDREN’S FUNDS

ICICI Prudential Child Care Fund (Gift Plan)

–

290.5

1273

2.2

1.5

1.7

14.2

19.8

10.7

0.86

SOLUTION ORIENTED – CHILDREN’S FUNDS

LIC MF Children’s Fund

–

30.0

2.5

1.7

-0.6

8.1

14.5

7.1

0.51

SOLUTION ORIENTED – RETIREMENT FUNDS

LIC MF Unit Linked Insurance Scheme

–

33.9

470

2.4

1.3

3.4

7.3

16.4

8.4

0.66

SOLUTION ORIENTED – RETIREMENT FUNDS

Nippon Ind Retire-Income Gene

–

19.8

153

2.1

1.0

7.5

8.5

7.0

0.56

SOLUTION ORIENTED – RETIREMENT FUNDS

Nippon Ind Retire-Wealth Cre

–

25.9

3044

2.0

1.0

1.1

13.4

23.3

9.7

0.73

SOLUTION ORIENTED – CHILDREN’S FUNDS

SBI Mag Children’s Benefit – Sav

–

106.5

123

1.2

0.9

12.5

11.6

15.1

11.2

1.34

SOLUTION ORIENTED – RETIREMENT FUNDS

Tata Retirement Savings Con

–

30.3

172

2.2

1.0

5.2

6.9

8.7

7.4

0.61

SOLUTION ORIENTED – RETIREMENT FUNDS

Tata Retirement Savings Fund Moderate Plan

–

58.2

2008

2.1

0.6

4.1

11.0

16.9

10.7

0.65

SOLUTION ORIENTED – RETIREMENT FUNDS

Tata Retirement Savings Progre

–

58.1

1914

2.0

0.6

1.9

11.2

18.1

11.3

0.59

SOLUTION ORIENTED – CHILDREN’S FUNDS

Tata Young Citizens Fund

–

56.1

340

2.5

1.8

0.5

10.3

21.4

10.1

0.75

SOLUTION ORIENTED – CHILDREN’S FUNDS

UTI Children’s Equity Fund

–

76.7

1058

2.3

1.2

1.9

8.4

20.4

10.5

0.66

SOLUTION ORIENTED – CHILDREN’S FUNDS

UTI Children’s Hybrid Fund

–

38.6

4457

1.7

1.6

7.0

8.2

13.2

8.1

0.90

SOLUTION ORIENTED – RETIREMENT FUNDS

UTI Retirement Fund

–

47.4

4564

1.7

1.0

7.9

11.1

15.5

9.0

1.17

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