An Almost Four-Decade-Old Large-Cap Fund To Sell

by Hansraj Agrawal | Apr 4, 2026 | Share Market

Even as investors eagerly seek an end to the ongoing conflict in West Asia, there are no signs of a thaw as yet, with the US President’s recent address to his nation adding to the anxiety of the already beleaguered Indian equity markets.

Furthermore, there is no clarity on when the Strait of Hormuz would be opened for regular goods traffic shipments without disruptions. The sharp rise in crude prices has brought fiscal calculations of the government under the scanner.

LPG cylinder prices have already seen price hikes. Any disruption or shortage due to the war may lead to higher inflation and possibility of higher interest rates as well, later in the year.

From a market perspective, along with mid and small-caps, large-cap stocks (perceived as resilient in volatile phases) too continue to face the heat.

Given their importance to most investor portfolios, underperforming large-cap funds can hamper financial goals and would thus need careful decision-making while making investment choices.

Many large-cap funds have struggled to get past the Nifty 100 TRI or BSE 100 TRI on a consistent basis.

UTI Large Cap (UTI Master Share), which is in its 40th year, has seen returns turn lukewarm for years now, going below many peers and standard benchmarks.

Investors can exit the fund and also stop any SIPs in the scheme and move to better-performing schemes.

Slackening returns

UTI Large Cap’s track record over the past several years has been underwhelming, with the fund’s performance falling below those of standard benchmarks and peers.

Over one, three, five and 10-year timeframes, the fund has underperformed the Nifty 100 TRI by 1-2.5 percentage points. The fund’s underperformance with respect to the BSE 100 TRI is also similar.

UTI Large Cap’s five-year point-to-point returns are moderate, at 9.4 per cent. In this timeframe, the Nifty 100 TRI gave 10.1 per cent and the BSE 100 TRI delivered 11 per cent. Even on a 10-year basis the fund lags these benchmarks.

When five-year rolling returns are considered from January 2013 to March 2026, the fund has outperformed the Nifty 100 TRI a mere 36.2 per cent of the times. The mean return for the fund in this rolling period is 13.7 per cent, while for the Nifty 100 TRI it is 13.9 per cent.

When returns on monthly SIPs (XIRR) over the past 10 years are considered, UTI Large Cap fund has given 10.3 per cent. A similar SIP in the Nifty 100 TRI would have delivered 11 per cent.

UTI Large Cap has an upside capture ratio of 96, indicating that its NAV rises less than the benchmark during market rallies. The fund has a downside capture ratio of 93.8, indicating that the scheme’s NAV falls less than the benchmark during periods of corrections. A score of 100 indicates that a fund performs exactly in line with its benchmark. Overall, these ratios point to prolonged underperformance.

This inference is based on data from March 2021-March 2026. All return figures and ratios pertain to the direct plan of the fund.

Churning moderately

UTI Large cap sticks to being bluechip in character and principle with such stocks accounting for more than 87 per cent of the portfolio at most times.

Mid and small-caps find utmost 8-10 per cent weightage in the fund’s holdings. Cash and debt positions are restricted to 2-4 per cent most of the time.

As with most funds, more so from the large-cap stable, banks figure among the top holdings of the scheme.

Exposure to HDFC Bank, a major underperformer in the past few years, in recent months, and holding on to the likes of Kotak Mahindra Bank and Bajaj Finance which have had a weak run, have hurt returns.

IT software has consistently been the second largest holding for UTI Large Cap fund, despite the underperformance due to AI disruptions. Stocks such as Infosys, which corrected heavily, still find a place among the top holdings.

Not giving higher weightage to segments that have done well such as pharma/healthcare, automobiles, and so forth, has been another cause for the fund’s underperformance.

Instead, retailing and consumer durables figure among key holdings. The likes of Dmart, ITC and lackadaisical insurance picks such as HDFC Life have all added to erosion in returns.

Though there is a certain value orientation to the fund’s picks, it has not paid off well enough even over longer timeframes.

Published on April 4, 2026

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Mutual Funds returns

by Hansraj Agrawal | Apr 4, 2026 | Share Market

EQUITY – LARGE & MID CAP FUNDS

Bandhan Large & Mid Cap Fund

125.5

14780

1.7

0.5

3.0

20.7

16.9

15.6

0.53

HYBRID – BALANCED ADVANTAGE FUNDS

Baroda BNP Paribas Balanced Advantage Fund

23.2

4767

1.9

0.8

2.6

11.7

9.9

–

0.38

HYBRID – AGGRESSIVE HYBRID FUNDS

BOI AXA Mid & Small Cap Eq&Debt

36.3

1360

2.0

0.7

3.8

17.5

15.8

–

0.45

EQUITY – LARGE CAP FUNDS

Canara Robeco Large Cap Fund

56.6

17104

1.7

0.5

-3.4

11.7

9.7

13.1

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

DSP ELSS Tax Saver Fund

126.6

17250

1.6

0.7

-2.9

16.4

13.8

15.0

0.45

HYBRID – EQUITY SAVINGS FUNDS

Edelweiss Equity Savings Fund

25.5

1270

1.6

0.6

5.6

10.5

8.6

8.9

0.65

EQUITY – MID CAP FUNDS

Edelweiss Mid Cap Fund

93.2

14355

1.7

0.5

4.0

22.2

18.6

17.7

0.54

HYBRID – BALANCED ADVANTAGE FUNDS

HDFC Balanced Advantage Fund

489.3

107590

1.4

0.8

-0.2

14.8

15.4

14.6

0.70

EQUITY – FLEXI CAP FUNDS

HDFC Flexi Cap Fund

1848.1

100455

1.3

0.7

0.4

18.1

17.9

16.0

0.63

EQUITY – LARGE & MID CAP FUNDS

HDFC Large and Mid Cap Fund

304.8

28580

1.6

0.9

-1.4

16.6

15.5

14.1

0.49

EQUITY – MID CAP FUNDS

HDFC Mid Cap Fund

182.8

94257

1.4

0.8

5.9

22.3

19.7

17.5

0.64

EQUITY – VALUE FUNDS

HSBC Value Fund

104.0

14750

1.7

0.7

5.2

19.7

17.6

15.8

0.53

EQUITY – DIVIDEND YIELD FUNDS

ICICI Prudential Dividend Yield Equity Fund

49.5

6531

1.8

0.6

1.1

19.3

19.5

15.8

0.71

HYBRID – AGGRESSIVE HYBRID FUNDS

ICICI Prudential Equity & Debt Fund

380.0

50205

1.5

0.9

3.2

16.7

17.1

15.6

0.78

EQUITY – LARGE & MID CAP FUNDS

ICICI Prudential Large & Mid Cap Fund

940.0

28506

1.6

0.8

1.7

18.2

17.7

15.4

0.62

EQUITY – LARGE CAP FUNDS

ICICI Prudential Large Cap Fund

101.2

77452

1.4

0.9

-1.0

14.4

13.2

13.9

0.46

EQUITY – SECTOR – PHARMA FUNDS

ICICI Prudential P.H.D Fund

36.6

6801

1.9

1.0

1.3

25.1

15.9

–

0.57

HYBRID – CONSERVATIVE HYBRID FUNDS

ICICI Prudential Regular Savings Fund

76.0

3341

1.7

1.0

4.0

9.2

8.2

9.2

0.83

EQUITY – VALUE FUNDS

ICICI Prudential Value Fund

440.6

60571

1.5

1.0

1.3

17.1

17.6

15.0

0.71

EQUITY – FLEXI CAP FUNDS

JM Flexicap Fund

84.8

5159

1.8

0.7

-6.8

16.2

14.6

15.7

0.44

HYBRID – CONSERVATIVE HYBRID FUNDS

Kotak Debt Hybrid Fund

57.3

3031

1.7

0.5

0.4

8.6

8.2

8.9

0.64

EQUITY – THEMATIC – CONSUMPTION FUNDS

Nippon India Consumption Fund

168.5

2512

2.0

0.6

-8.3

11.3

13.4

12.5

0.41

EQUITY – LARGE CAP FUNDS

Nippon India Large Cap Fund

83.1

51404

1.5

0.7

0.1

15.4

15.1

14.1

0.50

EQUITY – SMALL CAP FUNDS

Nippon India Small Cap Fund

150.9

67642

1.4

0.7

-0.1

18.3

20.2

19.9

0.54

EQUITY – FLEXI CAP FUNDS

Parag Parikh Flexi Cap Fund

79.0

134253

1.3

0.6

1.0

16.8

15.5

16.7

0.60

HYBRID – AGGRESSIVE HYBRID FUNDS

Quant Aggressive Hybrid Fund

398.5

1990

2.1

0.8

2.7

11.2

13.5

14.8

0.47

EQUITY – TAX SAVING (ELSS) FUNDS

Quant ELSS Tax Saver Fund

340.0

12080

1.7

0.8

2.1

14.5

16.2

18.9

0.45

EQUITY – MID CAP FUNDS

Quant Mid Cap Fund

191.4

7341

1.8

0.9

-6.7

14.5

17.2

15.7

0.48

EQUITY – SMALL CAP FUNDS

Quant Small Cap Fund

226.9

27654

1.7

0.8

-1.5

18.0

21.6

17.5

0.53

EQUITY – TAX SAVING (ELSS) FUNDS

SBI ELSS Tax Saver Fund

398.0

32171

1.6

0.9

-2.3

19.5

16.7

14.2

0.56

EQUITY – SECTOR – IT FUNDS

SBI Technology Opportunities Fund

183.6

4273

1.9

0.9

-6.8

9.7

10.9

14.7

0.29

HYBRID – EQUITY SAVINGS FUNDS

Sundaram Equity Savings Fund

68.2

1182

2.2

0.7

1.1

10.0

9.1

9.0

0.52

EQUITY – SECTOR – BANKING FUNDS

Sundaram Financial Services Opportunities Fund

96.2

1684

2.1

0.8

1.2

14.7

12.4

14.3

0.34

HYBRID – BALANCED ADVANTAGE FUNDS

Aditya Birla SL Bal Advantage

103.4

9104

1.8

0.7

3.4

11.4

9.4

10.6

0.47

EQUITY – LARGE & MID CAP FUNDS

Axis Large & Mid Cap Fund

30.0

15559

1.7

0.6

1.6

17.0

13.3

–

0.38

EQUITY – SMALL CAP FUNDS

AXIS Small Cap Fund

95.0

26008

1.6

0.6

-0.9

15.4

16.5

17.4

0.50

EQUITY – TAX SAVING (ELSS) FUNDS

Bandhan ELSS Tax Saver Fund

140.4

7056

1.8

0.7

-0.3

12.4

13.0

14.5

0.41

EQUITY – VALUE FUNDS

Bandhan Value Fund

134.7

10145

1.8

0.7

-2.4

13.8

15.4

15.3

0.49

EQUITY – TAX SAVING (ELSS) FUNDS

Bank of India ELSS Tax Saver

148.1

1384

2.0

0.8

-1.0

15.1

13.3

15.6

0.36

EQUITY – SMALL CAP FUNDS

Bank of India Small Cap Fund

41.8

1904

2.0

0.5

-0.5

17.7

17.6

–

0.43

HYBRID – AGGRESSIVE HYBRID FUNDS

Baroda BNP Paribas Aggressive Hybrid Fund

26.1

1250

2.1

0.5

0.0

11.9

10.4

–

0.37

EQUITY – THEMATIC – CONSUMPTION FUNDS

Baroda BNP Paribas India Consumption Fund

27.6

1455

2.1

0.6

-7.1

12.1

11.0

–

0.31

EQUITY – THEMATIC – CONSUMPTION FUNDS

Canara Robeco Consumer Trends Fund

94.4

1950

2.1

0.8

-6.6

11.7

11.1

14.9

0.31

EQUITY – TAX SAVING (ELSS) FUNDS

Canara Robeco ELSS Tax Saver

160.8

8800

1.7

0.6

0.2

12.5

11.0

14.1

0.34

EQUITY – SECTOR – PHARMA FUNDS

DSP Healthcare Fund

36.0

3033

1.9

0.7

-2.9

19.8

13.2

–

0.44

HYBRID – AGGRESSIVE HYBRID FUNDS

Edelweiss Aggressive Hybrid Fund

59.7

3546

1.9

0.4

14.0

13.0

12.1

0.53

HYBRID – BALANCED ADVANTAGE FUNDS

Edelweiss Balanced Advantage Fund

49.3

13176

1.7

0.5

2.3

10.8

9.2

10.5

0.39

EQUITY – FLEXI CAP FUNDS

Edelweiss Flexi Cap Fund

35.1

3203

1.9

0.4

0.9

15.4

13.1

14.1

0.40

EQUITY – DIVIDEND YIELD FUNDS

Franklin India Dividend Yield Fund

128.5

2409

2.1

1.2

-2.8

13.3

14.9

0.60

EQUITY – FLEXI CAP FUNDS

Franklin India Flexi Cap Fund

1472.8

19598

1.7

0.9

-2.9

15.0

13.6

13.1

0.42

EQUITY – TAX SAVING (ELSS) FUNDS

HDFC ELSS Tax saver

1272.0

16618

1.7

1.1

-2.3

16.8

16.6

13.6

0.59

HYBRID – EQUITY SAVINGS FUNDS

HDFC Equity Savings Fund

65.2

5901

1.9

0.9

3.1

9.0

8.7

9.5

0.56

HYBRID – CONSERVATIVE HYBRID FUNDS

HDFC Hybrid Debt Fund

80.9

3340

1.8

1.2

0.7

8.5

8.4

8.6

0.74

EQUITY – LARGE CAP FUNDS

HDFC Large Cap Fund

1030.9

40085

1.6

1.0

-3.7

11.8

12.1

12.8

0.40

HYBRID – BALANCED ADVANTAGE FUNDS

ICICI Prudential Balanced Advantage Fund

72.8

71151

1.4

0.9

4.8

11.4

10.4

11.0

0.61

EQUITY – SECTOR – IT FUNDS

ICICI Prudential Technology Fund

167.6

13572

1.8

1.0

-10.1

8.3

8.7

15.0

0.21

EQUITY – SECTOR – BANKING FUNDS

Invesco India Financial Services Fund

129.2

1650

2.1

0.8

5.2

17.7

13.6

15.1

0.36

EQUITY – MID CAP FUNDS

Invesco India Midcap Fund

159.7

10772

1.7

0.5

4.0

23.1

18.0

17.4

0.49

EQUITY – SMALL CAP FUNDS

Invesco India Smallcap Fund

37.5

9716

1.7

0.4

2.0

20.9

19.2

–

0.50

HYBRID – AGGRESSIVE HYBRID FUNDS

JM Aggressive Hybrid Fund

107.3

735

2.3

0.9

-4.8

14.7

12.6

11.5

0.44

EQUITY – TAX SAVING (ELSS) FUNDS

JM ELSS Tax Saver Fund

43.1

217

2.4

1.0

-3.4

15.4

12.9

14.9

0.37

EQUITY – LARGE CAP FUNDS

JM Large Cap Fund

139.2

443

2.4

0.9

-2.3

12.1

10.8

10.6

0.33

HYBRID – AGGRESSIVE HYBRID FUNDS

Kotak Aggressive Hybrid Fund

58.4

8653

1.7

0.5

2.7

12.5

11.3

12.4

0.43

HYBRID – EQUITY SAVINGS FUNDS

Kotak Equity Savings Fund

26.1

9853

1.8

0.7

4.6

10.0

9.2

9.1

0.62

EQUITY – LARGE CAP FUNDS

Kotak Large Cap Fund

523.5

10925

1.7

0.6

-0.7

12.1

10.5

12.2

0.33

EQUITY – MID CAP FUNDS

Mahindra Manulife Mid Cap Fund

31.2

4440

1.9

0.6

3.2

21.7

17.9

–

0.53

EQUITY – TAX SAVING (ELSS) FUNDS

Mirae Asset ELSS Tax Saver Fund

44.7

26203

1.6

0.6

1.1

13.9

11.7

16.5

0.36

HYBRID – EQUITY SAVINGS FUNDS

Mirae Asset Equity Savings Fund

20.1

1901

1.4

0.4

4.6

10.4

8.8

–

0.53

EQUITY – MID CAP FUNDS

Motilal Oswal Midcap Fund

83.3

33689

1.6

0.8

-10.4

19.0

20.4

15.9

0.52

EQUITY – SECTOR – BANKING FUNDS

Nippon India Banking & Financial Services Fund

574.4

7869

1.8

1.0

0.2

14.5

14.2

13.7

0.39

EQUITY – MID CAP FUNDS

Nippon India Growth Mid Cap Fund

3880.4

43983

1.5

0.7

4.7

23.0

19.6

18.2

0.59

EQUITY – VALUE FUNDS

Nippon India Value Fund

204.6

9034

1.8

1.1

-1.5

19.1

16.0

15.4

0.49

EQUITY – FLEXI CAP FUNDS

PGIM India Flexi Cap Fund

32.5

6004

1.8

0.5

-2.3

9.7

9.5

13.2

0.28

EQUITY – LARGE & MID CAP FUNDS

Quant Large & Mid Cap Fund

101.6

3070

2.0

0.8

-6.8

13.7

14.1

14.9

0.40

HYBRID – CONSERVATIVE HYBRID FUNDS

SBI Conservative Hybrid Fund

72.9

9871

1.5

1.0

3.9

9.1

8.7

8.6

0.80

EQUITY – LARGE & MID CAP FUNDS

SBI Large & Midcap Fund

585.8

38766

1.6

0.7

2.9

15.0

14.6

0.52

EQUITY – LARGE CAP FUNDS

SBI Large Cap Fund

85.2

55246

1.5

0.8

-0.7

11.3

10.2

11.8

0.33

EQUITY – FLEXI CAP FUNDS

Union Flexi Cap Fund

45.9

2349

2.0

0.9

-1.9

12.5

11.1

12.5

0.33

HYBRID – AGGRESSIVE HYBRID FUNDS

UTI Aggressive Hybrid Fund

382.1

6663

1.9

1.2

0.3

14.0

12.9

12.0

0.53

HYBRID – EQUITY SAVINGS FUNDS

UTI Equity Savings Fund

18.3

835

1.7

0.7

3.3

9.5

8.8

–

0.61

EQUITY – LARGE & MID CAP FUNDS

UTI Large & Mid Cap Fund

168.4

5724

1.8

0.9

2.6

19.4

16.1

13.9

0.53

EQUITY – SECTOR – BANKING FUNDS

Aditya Birla SL Bank & Fin Serv

55.9

3673

2.0

1.0

13.3

10.8

13.2

0.27

EQUITY – THEMATIC – CONSUMPTION FUNDS

Aditya Birla Sun Life Consumption Fund

187.3

6184

1.8

0.8

-5.6

11.3

10.9

13.7

0.31

EQUITY – FLEXI CAP FUNDS

Aditya Birla Sun Life Flexi Cap Fund

1686.1

25207

1.7

0.9

2.6

15.7

12.2

13.8

0.37

EQUITY – LARGE CAP FUNDS

Aditya Birla Sun Life Large Cap Fund

475.3

30094

1.6

1.0

-2.1

12.0

10.8

11.8

0.34

HYBRID – CONSERVATIVE HYBRID FUNDS

Aditya Birla Sun Life Regular Savings Fund

67.2

1523

1.8

0.9

4.1

8.4

7.8

8.4

0.65

HYBRID – BALANCED ADVANTAGE FUNDS

Axis Balanced Advantage Fund

20.2

3799

1.9

0.7

12.6

9.6

–

0.47

HYBRID – EQUITY SAVINGS FUNDS

Axis Equity Savings Fund

21.8

902

2.3

1.0

2.2

9.2

7.4

8.2

0.37

EQUITY – MID CAP FUNDS

Axis Midcap Fund

104.0

31977

1.6

0.6

3.0

17.3

13.6

16.2

0.40

HYBRID – AGGRESSIVE HYBRID FUNDS

Bandhan Aggressive Hybrid Fund

24.8

1747

2.1

0.6

4.1

13.9

11.7

–

0.42

EQUITY – FLEXI CAP FUNDS

Bandhan Flexi Cap Fund

190.2

7427

1.9

1.1

0.1

13.4

10.9

10.8

0.33

EQUITY – LARGE CAP FUNDS

Bandhan Large Cap Fund

70.7

2024

2.0

0.9

0.1

13.9

11.0

12.2

0.33

EQUITY – LARGE & MID CAP FUNDS

BOI Large & Mid Cap Equity Fund

83.7

456

2.3

1.1

4.1

15.2

13.7

12.6

0.41

EQUITY – TAX SAVING (ELSS) FUNDS

Baroda BNP Paribas ELSS Tax Saver Fund

88.9

906

2.2

1.0

1.2

16.3

11.5

12.2

0.33

EQUITY – LARGE CAP FUNDS

Baroda BNP Paribas Large Cap Fund

201.6

2639

2.0

0.8

-2.0

12.7

11.1

12.3

0.35

EQUITY – MID CAP FUNDS

Baroda BNP Paribas Mid Cap Fund

96.6

2341

2.0

0.5

5.1

18.6

15.4

15.2

0.47

HYBRID – CONSERVATIVE HYBRID FUNDS

Canara Robeco Conservative Hybrid Fund

94.7

887

1.9

0.7

0.8

7.0

6.3

7.6

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

Canara Robeco Equity Hybrid Fund

337.9

11268

1.7

0.6

0.9

11.5

9.7

12.0

0.36

EQUITY – FLEXI CAP FUNDS

Canara Robeco Flexi Cap Fund

307.4

13390

1.7

0.6

-0.2

12.3

10.6

13.6

0.33

EQUITY – LARGE & MID CAP FUNDS

Canara Robeco Large and Mid Cap Fund

224.6

24731

1.6

0.6

-4.6

13.1

11.4

14.7

0.34

HYBRID – AGGRESSIVE HYBRID FUNDS

DSP Aggressive Hybrid Fund

326.2

11928

1.7

0.7

-3.9

12.9

9.8

11.9

0.36

HYBRID – BALANCED ADVANTAGE FUNDS

DSP Dynamic Asset Allocation Fund

27.1

3732

1.9

0.6

2.3

11.3

7.9

8.6

0.42

HYBRID – EQUITY SAVINGS FUNDS

DSP Equity Savings Fund

21.7

3758

1.5

0.7

2.2

9.2

7.9

8.0

0.62

EQUITY – FLEXI CAP FUNDS

DSP Flexi Cap Fund

92.1

12165

1.7

0.7

-3.2

13.9

10.6

13.6

0.31

EQUITY – LARGE & MID CAP FUNDS

DSP Large & Mid Cap Fund

566.5

17653

1.7

0.6

-1.8

17.2

13.7

14.6

0.44

HYBRID – CONSERVATIVE HYBRID FUNDS

DSP Regular Savings Fund

58.3

184

1.2

0.5

1.8

8.7

7.2

7.0

0.58

EQUITY – SMALL CAP FUNDS

DSP Small Cap Fund

181.1

16886

1.7

0.8

6.1

18.6

17.6

16.0

0.46

EQUITY – LARGE & MID CAP FUNDS

Edelweiss Large & Mid Cap Fund

80.2

4485

1.8

0.4

2.1

16.0

13.1

14.1

0.41

EQUITY – LARGE CAP FUNDS

Edelweiss Large Cap Fund

76.7

1477

2.1

0.6

-2.0

11.6

10.6

12.3

0.33

HYBRID – AGGRESSIVE HYBRID FUNDS

Franklin India Aggressive Hybrid Fund

249.8

2350

2.0

0.9

-2.2

11.6

10.2

10.7

0.38

HYBRID – CONSERVATIVE HYBRID FUNDS

Franklin India Conservative Hybrid Fund

89.0

197

1.4

0.7

1.4

7.9

6.7

7.0

0.46

EQUITY – TAX SAVING (ELSS) FUNDS

Franklin India ELSS Tax Saver Fund

1317.8

6407

1.8

1.1

-3.8

14.8

13.2

12.3

0.40

EQUITY – LARGE CAP FUNDS

Franklin India Large Cap Fund

935.5

7580

1.9

1.1

-1.2

11.6

9.1

10.5

0.28

EQUITY – SECTOR – IT FUNDS

Franklin India Technology Fund

435.0

1670

2.1

1.1

-7.5

13.9

9.1

14.2

0.22

HYBRID – AGGRESSIVE HYBRID FUNDS

HDFC Hybrid Equity Fund

107.3

23811

1.7

1.0

-3.5

8.2

9.5

10.9

0.36

EQUITY – SMALL CAP FUNDS

HDFC Small Cap Fund

122.2

37424

1.6

0.7

0.3

15.3

17.8

17.0

0.49

EQUITY – VALUE FUNDS

HDFC Value Fund

684.0

7413

1.8

1.0

2.2

16.3

14.1

13.4

0.44

HYBRID – BALANCED ADVANTAGE FUNDS

HSBC Balanced Advantage Fund

41.4

1535

2.1

0.8

0.3

9.6

7.5

7.9

0.33

HYBRID – CONSERVATIVE HYBRID FUNDS

HSBC Conservative Hybrid Fund

60.4

139

2.1

1.1

2.1

8.8

7.1

7.3

0.40

HYBRID – EQUITY SAVINGS FUNDS

HSBC Equity Savings Fund

33.9

780

1.5

0.7

8.3

12.7

10.3

9.0

0.48

EQUITY – FLEXI CAP FUNDS

HSBC Flexi Cap Fund

196.9

5279

1.9

1.2

-0.3

15.5

12.7

12.4

0.35

EQUITY – SECTOR – BANKING FUNDS

ICICI Prudential Banking & Financial Services Fund

118.9

10886

1.8

1.0

-2.7

11.4

10.3

13.7

0.28

EQUITY – TAX SAVING (ELSS) FUNDS

ICICI Pru Long Term Equity

858.8

14353

1.7

1.1

-0.4

14.1

12.0

12.9

0.38

EQUITY – MID CAP FUNDS

ICICI Prudential Midcap Fund

291.8

7280

1.9

1.0

12.7

22.8

17.8

16.1

0.54

EQUITY – SMALL CAP FUNDS

ICICI Prudential Smallcap Fund

77.2

8355

1.8

0.8

-0.5

13.6

16.0

15.2

0.49

HYBRID – BALANCED ADVANTAGE FUNDS

Invesco India Balanced Advantage Fund

49.7

1066

2.1

0.8

-2.2

9.9

8.4

9.3

0.32

EQUITY – LARGE & MID CAP FUNDS

Invesco India Large & Mid Cap Fund

88.4

9392

1.8

0.6

0.9

20.5

14.9

15.0

0.42

EQUITY – LARGE CAP FUNDS

Invesco India Largecap Fund

62.5

1702

2.0

0.7

-0.5

13.9

11.8

12.1

0.35

EQUITY – VALUE FUNDS

JM Value Fund

82.5

858

2.3

1.2

-6.9

15.2

14.2

15.4

0.40

HYBRID – BALANCED ADVANTAGE FUNDS

Kotak Balanced Advantage Fund

19.6

17591

1.7

0.6

0.9

9.3

8.1

–

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Kotak ELSS Tax Saver Fund

104.2

6355

1.8

0.6

-1.7

12.1

11.8

13.7

0.36

EQUITY – FLEXI CAP FUNDS

Kotak Flexicap Fund

78.2

56853

1.5

0.6

1.9

13.8

11.4

13.5

0.35

EQUITY – LARGE & MID CAP FUNDS

Kotak Large & Midcap Fund

317.5

30712

1.6

0.6

2.8

16.0

13.9

15.1

0.44

EQUITY – MID CAP FUNDS

Kotak Midcap Fund

124.1

61694

1.4

0.4

5.6

18.6

16.5

17.3

0.49

EQUITY – SMALL CAP FUNDS

Kotak Small Cap Fund

224.1

16871

1.7

0.6

-5.1

12.5

13.1

15.7

0.36

EQUITY – DIVIDEND YIELD FUNDS

LIC MF Dividend Yield Fund

27.3

662

2.3

0.8

-2.6

17.6

14.0

–

0.42

EQUITY – TAX SAVING (ELSS) FUNDS

Mahindra Manulife ELSS Tax Saver Fund

25.6

936

2.2

0.7

-2.3

10.9

11.1

–

0.34

HYBRID – EQUITY SAVINGS FUNDS

Mahi Manu Eq Sav Dhan San Yojana

20.5

553

2.4

0.8

4.1

9.3

7.9

–

0.40

HYBRID – AGGRESSIVE HYBRID FUNDS

Mirae Asset Aggressive Hybrid Fund

30.8

9530

1.7

0.4

2.9

12.1

10.2

12.2

0.38

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mirae Asset Great Consumer Fund

81.2

4473

1.9

0.4

-3.9

12.6

14.8

0.35

EQUITY – SECTOR – PHARMA FUNDS

Mirae Asset Healthcare Fund

37.3

2844

1.9

0.5

3.5

22.7

14.5

–

0.50

EQUITY – LARGE & MID CAP FUNDS

Mirae Asset Large & Midcap Fund

138.6

42943

1.5

0.6

2.3

14.4

11.8

16.6

0.36

EQUITY – LARGE CAP FUNDS

Mirae Asset Large Cap Fund

101.9

40184

1.5

0.6

-2.1

9.9

9.0

12.6

0.27

EQUITY – TAX SAVING (ELSS) FUNDS

Motilal Oswal ELSS Tax Saver Fund

46.9

4175

1.8

0.7

2.8

20.4

15.9

16.0

0.39

HYBRID – BALANCED ADVANTAGE FUNDS

Nippon India Balanced Advantage Fund

170.0

9688

1.7

0.6

1.3

10.7

9.1

10.7

0.45

EQUITY – SECTOR – PHARMA FUNDS

Nippon India Pharma Fund

485.3

8306

1.8

0.9

1.7

21.4

13.9

14.0

0.49

EQUITY – LARGE & MID CAP FUNDS

Nippon India Vision Large & Mid Cap Fund

1334.2

6963

1.9

1.1

-0.7

17.5

14.5

12.4

0.46

EQUITY – MID CAP FUNDS

PGIM India Midcap Fund

56.8

10877

1.7

0.5

-2.7

10.8

12.3

14.9

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Quantum ELSS Tax Saver Fund

110.2

218

2.1

0.9

-5.7

13.3

10.7

11.2

0.38

EQUITY – SECTOR – BANKING FUNDS

SBI Banking & Financial Services Fund

40.0

10725

1.8

0.7

4.0

17.4

12.0

16.0

0.32

EQUITY – THEMATIC – CONSUMPTION FUNDS

SBI Consumption Opportunities Fund

267.7

2970

2.0

0.9

-9.6

10.3

13.8

13.6

0.40

HYBRID – AGGRESSIVE HYBRID FUNDS

SBI Equity Hybrid Fund

286.5

82318

1.4

0.7

2.3

13.0

10.5

11.7

0.43

HYBRID – EQUITY SAVINGS FUNDS

SBI Equity Savings Fund

24.0

5731

1.5

0.9

5.5

10.9

8.7

0.51

EQUITY – FLEXI CAP FUNDS

SBI Flexicap Fund

98.9

23297

1.7

0.8

-1.9

10.2

9.2

11.7

0.28

EQUITY – SECTOR – PHARMA FUNDS

SBI Healthcare Opportunities Fund

409.1

4077

1.9

0.9

1.0

23.4

15.7

11.9

0.58

EQUITY – MID CAP FUNDS

SBI Midcap Fund

210.4

23154

1.7

0.9

-3.9

13.8

14.2

13.7

0.45

HYBRID – AGGRESSIVE HYBRID FUNDS

Sundaram Aggressive Hybrid Fund

149.2

8142

1.8

0.8

-2.0

10.4

9.5

11.7

0.35

EQUITY – TAX SAVING (ELSS) FUNDS

Sundaram ELSS Tax Saver Fund

461.4

1349

2.2

1.5

-1.5

12.4

11.7

13.3

0.37

EQUITY – MID CAP FUNDS

Sundaram Mid Cap Fund

1292.4

13235

1.7

0.9

4.5

21.8

17.3

14.7

0.51

EQUITY – SMALL CAP FUNDS

Sundaram Small Cap Fund

235.1

3306

1.9

0.8

4.1

17.3

17.0

13.9

0.43

HYBRID – AGGRESSIVE HYBRID FUNDS

Tata Aggressive Hybrid Fund

403.4

4024

1.9

1.0

-2.1

8.6

9.1

9.5

0.32

EQUITY – SECTOR – BANKING FUNDS

Tata Banking and Financial Services Fund

39.5

3261

1.9

0.5

0.7

13.5

11.0

14.6

0.29

EQUITY – TAX SAVING (ELSS) FUNDS

Tata ELSS Fund

41.2

4674

1.8

0.7

13.5

12.0

13.4

0.36

EQUITY – FLEXI CAP FUNDS

Tata Flexi Cap Fund

21.9

3699

1.9

0.6

-1.5

13.5

10.1

–

0.31

EQUITY – THEMATIC – CONSUMPTION FUNDS

Tata India Consumer Fund

39.1

2491

2.0

0.8

-4.3

14.2

12.4

15.1

0.35

EQUITY – LARGE CAP FUNDS

Tata Large Cap Fund

459.9

2784

2.0

1.0

-2.0

11.9

10.7

11.4

0.34

EQUITY – MID CAP FUNDS

Tata Mid Cap Fund

404.4

5505

1.8

0.6

3.7

18.9

15.4

15.6

0.47

EQUITY – SMALL CAP FUNDS

Tata Small Cap Fund

31.7

10715

1.7

0.4

-13.4

10.6

15.5

–

0.41

EQUITY – VALUE FUNDS

Templeton India Value Fund

659.7

2257

2.0

0.9

-0.1

14.4

15.6

14.1

0.50

HYBRID – BALANCED ADVANTAGE FUNDS

Union Balanced Advantage Fund

19.1

1305

2.2

1.0

-0.1

7.8

6.5

–

0.24

EQUITY – TAX SAVING (ELSS) FUNDS

Union ELSS Tax Saver Fund

58.4

876

2.3

1.3

-1.2

12.3

11.7

12.2

0.36

EQUITY – SMALL CAP FUNDS

Union Small Cap Fund

45.8

1787

2.1

1.0

6.9

17.8

16.4

15.0

0.42

EQUITY – VALUE FUNDS

Union Value Fund

26.2

375

2.5

1.2

2.0

15.8

13.7

–

0.43

HYBRID – CONSERVATIVE HYBRID FUNDS

UTI Conservative Hybrid Fund

67.7

1686

1.8

1.3

0.5

8.1

7.9

7.7

0.61

EQUITY – DIVIDEND YIELD FUNDS

UTI Dividend Yield Fund

165.7

3880

2.0

1.5

1.2

17.4

14.2

13.9

0.49

EQUITY – LARGE CAP FUNDS

UTI Large Cap Fund

245.2

12658

1.8

0.9

-4.1

9.7

8.5

11.2

0.25

EQUITY – VALUE FUNDS

UTI Value Fund

152.2

9787

1.8

1.2

-2.0

15.4

12.7

13.3

0.41

EQUITY – SECTOR – IT FUNDS

Aditya Birla Sun Life Digital India Fund

141.3

3883

1.9

0.8

-10.7

6.4

7.5

14.8

0.18

EQUITY – DIVIDEND YIELD FUNDS

Aditya Birla Sun Life Dividend Yield Fund

422.9

1495

2.2

1.4

1.6

16.5

16.4

12.8

0.53

HYBRID – AGGRESSIVE HYBRID FUNDS

Aditya Birla Sun Life Equity Hybrid ’95 Fund

1415.9

7287

1.9

1.1

0.3

11.5

9.0

9.9

0.30

HYBRID – EQUITY SAVINGS FUNDS

Aditya Birla Sun Life Equity Savings Fund

22.4

1076

1.0

0.5

6.0

9.3

6.8

8.0

0.30

EQUITY – MID CAP FUNDS

Aditya Birla Sun Life Midcap Fund

708.0

6130

1.9

1.0

-0.4

17.6

14.8

13.1

0.43

EQUITY – VALUE FUNDS

Aditya Birla Sun Life Value Fund

116.5

6259

1.9

1.0

1.1

17.6

14.1

11.9

0.38

HYBRID – CONSERVATIVE HYBRID FUNDS

Axis Conservative Hybrid Fund

29.5

232

2.2

1.2

0.7

6.4

5.7

6.4

0.32

EQUITY – FLEXI CAP FUNDS

Axis Flexi Cap Fund

23.9

12871

1.7

0.7

-1.7

12.5

8.8

–

0.23

HYBRID – BALANCED ADVANTAGE FUNDS

Bandhan Balanced Advantage Fund

23.2

2231

2.1

0.8

0.6

9.6

7.3

8.2

0.27

HYBRID – BALANCED ADVANTAGE FUNDS

Bank of India Balanced Advantage Fund

24.8

148

2.3

1.2

5.7

10.5

9.5

7.0

0.39

EQUITY – SECTOR – BANKING FUNDS

Baroda BNP Paribas Bank&Fin Serv

43.8

397

2.4

0.8

-0.6

13.7

9.5

12.2

0.24

HYBRID – CONSERVATIVE HYBRID FUNDS

Baroda BNP Paribas Conser Hybrid

44.4

817

2.0

0.5

2.3

7.4

6.1

6.9

0.37

EQUITY – LARGE CAP FUNDS

DSP Large Cap Fund

427.7

7270

1.8

0.9

-4.0

14.4

10.8

11.3

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Edelweiss Long Term Equity

102.6

439

2.3

0.7

1.6

13.7

11.5

11.7

0.35

HYBRID – EQUITY SAVINGS FUNDS

Franklin India Equity Savings Fund

16.5

675

1.1

0.4

3.7

7.9

7.3

–

0.44

EQUITY – LARGE & MID CAP FUNDS

Franklin India Large & Mid Cap Fund

171.0

3464

2.0

1.3

-0.8

13.7

11.4

11.1

0.34

EQUITY – MID CAP FUNDS

Franklin India Mid Cap Fund

2433.0

12328

1.8

1.0

-3.1

18.1

14.0

14.1

0.40

EQUITY – SMALL CAP FUNDS

Franklin India Small Cap Fund

149.5

12934

1.8

0.9

-2.4

15.7

17.1

14.6

0.44

HYBRID – AGGRESSIVE HYBRID FUNDS

HSBC Aggressive Hybrid Fund

51.9

5459

1.9

0.8

5.1

12.8

9.8

10.4

0.29

EQUITY – TAX SAVING (ELSS) FUNDS

HSBC ELSS Tax saver Fund

122.4

4023

1.9

1.2

-0.4

16.2

12.5

13.1

0.35

EQUITY – LARGE CAP FUNDS

HSBC Large Cap Fund

438.5

1894

2.1

1.3

-0.2

12.2

9.8

12.0

0.28

EQUITY – SMALL CAP FUNDS

HSBC Small Cap Fund

69.5

15375

1.7

0.7

-4.8

13.7

17.9

17.2

0.43

HYBRID – EQUITY SAVINGS FUNDS

ICICI Prudential Equity Savings Fund

22.7

18027

1.0

0.5

3.9

7.7

7.3

8.1

0.88

HYBRID – AGGRESSIVE HYBRID FUNDS

Invesco India Aggressive Hybrid Fund

19.8

789

2.2

0.7

-6.3

11.9

9.3

–

0.30

EQUITY – TAX SAVING (ELSS) FUNDS

Invesco India ELSS Tax Saver Fund

106.8

2602

1.9

0.8

-6.7

12.4

9.3

12.2

0.25

EQUITY – LARGE & MID CAP FUNDS

LIC MF Large & Midcap Fund

34.7

3045

1.9

0.6

-3.3

15.2

12.2

14.1

0.37

EQUITY – LARGE CAP FUNDS

LIC MF Large Cap Fund

49.3

1422

2.2

1.1

-4.6

8.5

7.6

10.1

0.21

EQUITY – FLEXI CAP FUNDS

Motilal Oswal Flexi Cap Fund

52.2

12890

1.7

0.8

-8.5

18.7

10.4

12.2

0.27

HYBRID – AGGRESSIVE HYBRID FUNDS

Navi Aggressive Hybrid Fund

19.2

112

2.3

0.5

10.3

9.5

–

0.33

EQUITY – FLEXI CAP FUNDS

Navi Flexi Cap Fund

21.3

261

2.2

0.6

2.4

10.9

10.3

–

0.31

HYBRID – AGGRESSIVE HYBRID FUNDS

Nippon India Aggressive Hybrid Fund

98.6

4063

2.0

1.0

1.4

12.4

11.5

9.6

0.44

EQUITY – TAX SAVING (ELSS) FUNDS

Nippon India ELSS Tax Saver Fund

119.2

14959

1.7

1.0

15.5

13.5

10.7

0.43

EQUITY – TAX SAVING (ELSS) FUNDS

PGIM India ELSS Tax Saver Fund

30.2

726

2.3

0.8

-6.7

7.8

9.9

12.0

0.31

EQUITY – SMALL CAP FUNDS

SBI Small Cap Fund

151.0

34932

1.6

0.8

-4.5

11.6

13.3

17.0

0.39

HYBRID – BALANCED ADVANTAGE FUNDS

Sundaram Balanced Advantage Fund

33.0

1695

2.1

0.6

-1.3

8.5

7.3

7.2

0.29

EQUITY – THEMATIC – CONSUMPTION FUNDS

Sundaram Consumption Fund

82.8

1458

2.2

1.2

-7.8

11.8

10.7

12.2

0.30

EQUITY – LARGE & MID CAP FUNDS

Sundaram Large and Mid Cap Fund

77.7

6868

1.8

0.7

-0.7

13.9

11.9

13.6

0.35

EQUITY – SECTOR – PHARMA FUNDS

Tata India Pharma & Healthcare Fund

27.9

1301

2.1

0.7

-2.0

20.6

13.5

11.5

0.47

EQUITY – LARGE & MID CAP FUNDS

Tata Large & Mid Cap Fund

442.5

8143

1.8

0.7

-9.9

8.5

9.4

11.9

0.29

EQUITY – VALUE FUNDS

Tata Value Fund

322.5

8774

1.8

0.8

0.0

16.4

14.2

14.7

0.45

EQUITY – MID CAP FUNDS

Taurus Mid Cap Fund

106.5

123

2.5

1.9

-2.3

14.0

11.6

14.3

0.31

HYBRID – EQUITY SAVINGS FUNDS

Union Equity Savings Fund

16.6

144

1.9

1.5

1.8

7.2

5.9

–

0.27

EQUITY – LARGE CAP FUNDS

Union Largecap Fund

21.3

453

2.5

1.7

-3.1

9.8

9.0

–

0.27

EQUITY – SECTOR – BANKING FUNDS

UTI Banking and Financial Services Fund

175.4

1425

2.1

1.1

0.7

13.2

10.9

11.6

0.28

EQUITY – TAX SAVING (ELSS) FUNDS

UTI ELSS Tax Saver Fund

183.8

3602

1.9

0.9

-3.6

11.0

9.0

11.5

0.25

EQUITY – FLEXI CAP FUNDS

UTI Flexi Cap Fund

275.4

22886

1.7

1.1

-8.2

7.7

5.1

11.1

0.11

EQUITY – THEMATIC – CONSUMPTION FUNDS

UTI India Consumer Fund

50.8

690

2.5

1.6

-4.6

11.5

9.7

10.7

0.26

EQUITY – MID CAP FUNDS

UTI Mid Cap Fund

270.7

11734

1.8

0.9

1.0

14.9

12.7

13.6

0.37

EQUITY – TAX SAVING (ELSS) FUNDS

Aditya Birla Sun Life ELSS Tax Saver Fund

55.5

14788

1.7

1.0

2.0

13.0

7.5

10.3

0.20

EQUITY – LARGE & MID CAP FUNDS

Aditya Birla Sun Life Large & Mid Cap Fund

825.7

5761

1.9

1.1

0.5

12.7

8.5

11.3

0.21

EQUITY – SMALL CAP FUNDS

Aditya Birla Sun Life Small Cap Fund

78.0

4882

1.9

0.9

2.8

16.3

12.5

12.4

0.31

HYBRID – AGGRESSIVE HYBRID FUNDS

Axis Aggressive Hybrid Fund

19.2

1505

2.2

1.1

-0.4

10.1

7.9

–

0.24

EQUITY – TAX SAVING (ELSS) FUNDS

Axis ELSS Tax Saver Fund

85.9

33186

1.5

0.8

-4.2

12.2

6.9

11.4

0.16

EQUITY – LARGE CAP FUNDS

Axis Large Cap Fund

54.5

32437

1.6

0.7

-4.1

9.6

6.9

11.6

0.18

HYBRID – CONSERVATIVE HYBRID FUNDS

Bandhan Conservative Hybrid Fund

31.7

2.0

1.0

1.6

6.8

5.1

6.3

0.22

HYBRID – EQUITY SAVINGS FUNDS

Bandhan Equity Savings Fund

31.3

414

1.1

0.2

2.9

7.1

6.2

0.48

EQUITY – MID CAP FUNDS

DSP Midcap Fund

134.5

19641

1.7

0.7

3.5

17.7

11.7

14.3

0.34

EQUITY – LARGE CAP FUNDS

Groww Largecap Fund

39.5

132

2.5

1.3

1.1

11.4

9.5

10.9

0.27

EQUITY – MID CAP FUNDS

HSBC Midcap Fund

371.4

12448

1.7

0.7

9.8

22.4

16.0

16.1

0.42

HYBRID – AGGRESSIVE HYBRID FUNDS

LIC MF Aggressive Hybrid Fund

180.5

518

2.5

1.4

-0.7

10.6

8.0

8.9

0.26

EQUITY – SECTOR – BANKING FUNDS

LIC MF Banking & Financial Services Fund

19.5

277

2.5

1.2

3.5

9.2

9.3

9.2

0.24

EQUITY – TAX SAVING (ELSS) FUNDS

LIC MF ELSS Tax Saver

133.0

1045

2.2

1.0

-8.5

11.4

10.1

11.6

0.30

EQUITY – FLEXI CAP FUNDS

LIC MF Flexi Cap Fund

88.8

1000

2.3

1.6

0.7

11.6

9.0

9.4

0.25

EQUITY – MID CAP FUNDS

LIC MF Midcap Fund

25.7

337

2.5

1.4

-2.8

17.6

12.4

–

0.33

EQUITY – SMALL CAP FUNDS

LIC MF Small Cap Fund

27.0

606

2.4

1.0

-3.8

15.6

16.4

–

0.41

EQUITY – VALUE FUNDS

LIC MF Value Fund

23.2

203

2.5

1.4

4.1

14.2

12.0

–

0.32

EQUITY – THEMATIC – CONSUMPTION FUNDS

Mahindra Manulife Consumption Fund

19.6

513

2.4

0.8

-6.1

11.5

10.9

–

0.31

HYBRID – BALANCED ADVANTAGE FUNDS

Motilal Oswal Balanced Advantage Fund

17.0

769

2.3

1.1

-4.6

5.2

2.9

–

0.03

EQUITY – LARGE & MID CAP FUNDS

Navi Large & Midcap Fund

31.6

307

2.3

0.5

-3.0

10.0

10.3

12.3

0.30

HYBRID – CONSERVATIVE HYBRID FUNDS

Nippon India Conservative Hybrid Fund

59.7

948

1.9

1.1

6.8

8.1

7.9

5.7

1.02

HYBRID – EQUITY SAVINGS FUNDS

Nippon India Equity Savings Fund

16.0

929

1.6

0.5

3.3

7.0

6.8

4.7

0.41

HYBRID – AGGRESSIVE HYBRID FUNDS

PGIM India Aggressive Hybrid Equity Fund

117.9

207

2.3

0.8

-3.0

8.0

7.1

8.2

0.21

EQUITY – LARGE CAP FUNDS

PGIM India Large Cap Fund

302.7

568

2.4

0.8

-4.3

7.8

7.2

9.7

0.20

EQUITY – VALUE FUNDS

Quantum Value Fund

110.9

1151

2.1

1.1

-5.8

13.4

10.7

11.2

0.37

EQUITY – FLEXI CAP FUNDS

Shriram Flexi Cap Fund

18.1

131

2.4

0.5

-4.6

8.2

7.5

–

0.18

EQUITY – DIVIDEND YIELD FUNDS

Sundaram Dividend Yield Fund

126.5

894

2.3

1.1

-0.8

13.7

12.0

14.5

0.42

EQUITY – SECTOR – IT FUNDS

Tata Digital India Fund

38.8

9896

1.7

0.5

-12.8

7.3

8.1

14.1

0.19

EQUITY – FLEXI CAP FUNDS

Taurus Flexi Cap Fund

201.1

346

2.7

2.6

-4.5

12.4

9.7

9.3

0.28

EQUITY – SECTOR – PHARMA FUNDS

UTI Healthcare Fund

270.2

1107

2.3

1.3

1.7

23.4

14.0

12.1

0.47

HYBRID – BALANCED ADVANTAGE FUNDS

UTI-Unit Linked Insurance Plan

39.4

5035

1.7

1.1

-2.4

7.2

6.0

7.1

0.24

HYBRID – CONSERVATIVE HYBRID FUNDS

Bank of India Conservative Hybrid Fund

–

34.1

2.1

1.2

3.2

6.9

9.8

7.1

0.84

EQUITY – MULTI CAP FUNDS

Baroda BNP Paribas Multi Cap Fund

–

256.5

3096

2.0

0.9

-2.3

15.5

14.2

13.6

0.40

EQUITY – SMALL CAP FUNDS

Canara Robeco Small Cap Fund

–

34.3

12769

1.7

0.6

-0.6

13.3

16.9

–

0.47

EQUITY – SMALL CAP FUNDS

Edelweiss Small Cap Fund

–

39.1

5481

1.8

0.5

0.1

16.8

16.9

–

0.47

HYBRID – AGGRESSIVE HYBRID FUNDS

Groww Aggressive Hybrid Fund

–

19.2

2.5

1.5

-1.6

9.1

7.9

–

0.25

EQUITY – TAX SAVING (ELSS) FUNDS

Groww ELSS Tax Saver Fund

–

17.4

2.4

0.9

-3.4

10.3

8.6

–

0.24

EQUITY – VALUE FUNDS

Groww Value Fund

–

24.3

2.5

1.1

-0.6

13.9

11.3

9.9

0.35

EQUITY – LARGE & MID CAP FUNDS

HSBC Large & Mid Cap Fund

–

25.0

4706

1.9

0.8

5.5

17.6

13.7

–

0.34

EQUITY – MULTI CAP FUNDS

ICICI Prudential Multicap Fund

–

731.3

16315

1.7

0.9

-0.5

17.1

15.1

14.2

0.49

EQUITY – CONTRA FUNDS

Invesco India Contra Fund

–

119.0

19948

1.6

0.5

-3.7

16.0

13.2

14.9

0.40

HYBRID – EQUITY SAVINGS FUNDS

Invesco India Equity Savings Fund

–

16.0

354

2.3

0.8

-1.6

8.7

6.4

–

0.27

EQUITY – MULTI CAP FUNDS

Invesco India Multicap Fund

–

110.1

4001

1.9

0.7

-8.2

13.1

11.8

12.8

0.33

EQUITY – CONTRA FUNDS

Kotak Contra Fund

–

138.4

5225

1.9

0.6

1.4

17.0

14.4

15.5

0.46

HYBRID – CONSERVATIVE HYBRID FUNDS

LIC MF Conservative Hybrid Fund

–

81.2

2.3

1.4

1.9

5.6

5.1

6.2

0.26

HYBRID – EQUITY SAVINGS FUNDS

LIC MF Equity Savings Fund

–

26.9

2.4

1.3

2.5

8.4

6.6

6.4

0.28

EQUITY – SECTOR – PHARMA FUNDS

LIC MF Healthcare Fund

–

26.9

2.4

0.6

-3.6

19.3

10.6

–

0.34

EQUITY – LARGE CAP FUNDS

Mahindra Manulife Large Cap Fund

–

20.9

737

2.3

0.8

-3.1

11.2

9.6

–

0.29

EQUITY – MULTI CAP FUNDS

Mahindra Manulife Multi Cap Fund

–

32.8

6174

1.8

0.5

2.7

17.7

15.9

–

0.45

EQUITY – TAX SAVING (ELSS) FUNDS

Navi ELSS Tax Saver Fund

–

26.0

2.3

0.4

-3.2

9.4

8.4

10.3

0.24

EQUITY – MULTI CAP FUNDS

Nippon India Multi Cap Fund

–

272.0

50820

1.5

0.7

1.3

18.6

18.9

15.1

0.59

HYBRID – EQUITY SAVINGS FUNDS

PGIM India Equity Savings Fund

–

49.0

1.3

0.6

2.3

6.0

6.2

6.8

0.49

EQUITY – FLEXI CAP FUNDS

Quant Flexi Cap Fund

–

89.7

6354

1.9

0.7

-1.8

14.8

17.3

18.2

0.48

EQUITY – MULTI CAP FUNDS

Quant Multi Cap Fund

–

552.6

7274

1.8

0.7

-5.8

10.2

12.5

16.2

0.33

EQUITY – CONTRA FUNDS

SBI Contra Fund

–

352.3

49111

1.5

0.7

-1.8

15.8

17.8

15.5

0.66

HYBRID – AGGRESSIVE HYBRID FUNDS

Shriram Aggressive Hybrid Fund

–

29.7

2.4

0.9

0.2

9.7

7.8

9.1

0.24

EQUITY – TAX SAVING (ELSS) FUNDS

Shriram ELSS Tax Saver Fund

–

18.9

2.3

0.7

-3.9

8.3

7.5

–

0.17

HYBRID – CONSERVATIVE HYBRID FUNDS

Sundaram Conservative Hybrid Fund

–

28.8

1.1

0.8

-1.1

5.7

6.5

6.3

0.47

EQUITY – MULTI CAP FUNDS

Sundaram Multi Cap Fund

–

340.1

2827

2.0

0.9

-1.7

14.3

13.3

14.2

0.40

EQUITY – VALUE FUNDS

Sundaram Value Fund

–

199.0

1392

2.3

1.7

-2.0

10.3

10.1

11.1

0.32

HYBRID – BALANCED ADVANTAGE FUNDS

Tata Balanced Advantage Fund

–

19.5

9604

1.7

0.5

-0.2

8.7

8.2

–

0.40

EQUITY – SECTOR – BANKING FUNDS

Taurus Banking & Financial Services Fund

–

49.2

2.5

1.9

-1.1

10.3

9.4

12.7

0.23

EQUITY – TAX SAVING (ELSS) FUNDS

Taurus ELSS Tax Saver Fund

–

162.3

2.5

1.7

-6.6

11.1

10.9

12.6

0.36

EQUITY – LARGE CAP FUNDS

Taurus Large Cap Fund

–

146.6

2.6

2.3

0.3

14.3

10.6

10.0

0.31

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Smart strategies in bond investing

by Hansraj Agrawal | Apr 4, 2026 | Share Market

With the US-Israel-Iran conflict rattling markets, oil prices rising and risk assets under pressure, fixed income tends to regain appeal. In India, it is still often viewed as a conservative space dominated by bank fixed deposits and small savings schemes. But access is widening through RBI Retail Direct, online bond platforms and broker terminals. Fixed income today is not just about earning interest; returns also depend on how portfolios are positioned across interest-rate cycles and credit risk. Here, we explain the main strategies and what retail investors can take away from them.

Accrual strategy

The accrual strategy is essentially a buy-and-hold approach in bonds. Investors hold securities until maturity to earn steady interest income, much like a bank fixed deposit. It suits those seeking predictable income and capital preservation.

Beyond bank FDs, investors can consider corporate fixed deposits and non-convertible debentures issued by public and private institutions. Returns on these vary with the issuer’s credit rating. For instance, a five-year NCD from AAA-rated Power Finance Corporation offered a coupon of 6.85 per cent per annum, while Adani Enterprises, rated AA-, offered around 8.9 per cent for a similar tenure over the last five months.

Government securities are another key option. Issued by the RBI, these include central government bonds, state development loans and treasury bills, and carry minimal default risk. Retail investors can access them through RBI Retail Direct as well as online bond platforms.

Credit quality, however, remains critical. Investors should generally prefer higher-rated instruments such as AAA and AA+ to reduce default risk.

As bonds are usually held to maturity, this strategy has limited sensitivity to interim rate movements and offers relatively predictable cash flows. But it is not risk-free. Rising rates can lock investors into lower yields, and exiting before maturity may still be difficult or costly.

Within debt mutual funds, overnight, liquid and money market funds broadly follow an accrual-oriented approach.

Duration strategy

The duration strategy involves positioning bond portfolios based on the expected direction of interest rates. As bond prices and yields move inversely, investors prefer longer-duration bonds when rates are expected to fall, as these tend to gain more in price. Conversely, when rates are likely to rise, shorter-duration bonds help limit losses.

Unlike accrual investing, this approach relies more on active buying and selling and close tracking of macroeconomic indicators, yield movements and timing decisions. For this reason, it is largely used by institutional investors such as mutual funds.

Retail participation remains limited, though not absent. While platforms such as RBI Retail Direct and online bond platforms provide access, assessing yields and timing trades can be difficult without sufficient expertise. This strategy can deliver capital gains when rates fall, but it also carries higher mark-to-market risk. If interest-rate expectations go wrong, longer-duration bonds can see sharper price declines.

Within debt mutual funds, gilt funds, long duration funds and medium duration funds actively employ duration strategies. In 2024, many such funds extended portfolio maturity on expectations that rates had peaked, helping deliver around 10 per cent one-year returns as of October 31, 2024.

Target maturity strategy

Target maturity investing involves choosing bonds or funds that mature around a specific year aligned with an investor’s goal. Instead of actively trading, the portfolio is held until maturity, allowing investors to lock in yields at the time of investment. As the maturity date approaches, interest rate risk reduces and returns become more predictable.

Many investors use target maturity funds (TMFs), which are ETFs or index funds that passively track a basket of bonds with similar maturity profiles. This approach offers visibility on potential returns, lower volatility over time, and simplicity. Still, the strategy works best when aligned to the holding period. Selling before maturity can lead to price volatility, and returns are only as sound as the credit quality of the underlying portfolio.

New TMF issuances typically come during periods of higher interest rates and are currently limited. According to ACEMF data, there are over 100 TMFs in the market. TMF ETFs can be traded on exchanges, while index fund variants can be bought or redeemed like regular mutual funds. For instance, the Bharat Bond ETF maturing in April 2031 offers a yield to maturity of around 7.5 per cent as of April 2, 2026.

Laddering strategy

A laddering strategy involves spreading investments across bonds with different maturity periods instead of concentrating on a single tenure. For example, an investor may hold bonds maturing in 1, 3, 5, 7, 10, and 20 years. As each bond matures, the proceeds are reinvested at prevailing interest rates.

This approach reduces the need to time interest rate movements. By investing and reinvesting at different points, it helps smooth out the impact of rate changes over time and provides periodic liquidity. But, it is not risk-free. The strategy still depends on the credit quality of the underlying bonds, and its staggered structure can limit upside in a strong falling-rate cycle.

Some debt mutual funds follow a similar approach in practice, even if they do not explicitly call it laddering. This is commonly seen in corporate bond funds and banking & PSU funds, where investments are spread across maturity buckets. For example, funds such as HDFC Corporate Bond Fund and ICICI Prudential Corporate Bond Fund held bonds maturing over 2 to 7 years during the post-Covid period, especially through the 2022–2023 rate hike cycle, helping balance risk and returns.

Barbell strategy

The barbell strategy involves investing at two ends of the maturity spectrum, in short-term and long-term bonds, while largely avoiding the middle segment. Short-term instruments provide liquidity and flexibility, allowing reinvestment if interest rates rise. Long-term bonds, on the other hand, offer higher yields and the potential for capital gains if rates fall.

This approach is often used when the interest rate outlook is uncertain or when the yield curve is steep. It helps balance stability and return potential, making the portfolio both defensive and opportunistic. The trade-off is that the long-end exposure can still make returns volatile, while maintaining the right balance between short and long maturities requires active monitoring.

In late 2025, Axis Mutual Fund highlighted the use of a barbell approach in its debt portfolios, allocating to short-term corporate bonds while maintaining selective exposure to long-term government and state debt.

Takeaways

Retail investors do not need to imitate institutional bond strategies, but they do need to avoid random product selection. Use accrual and target maturity products when income visibility matters. Use duration funds only when you understand interest-rate risk and can tolerate mark-to-market swings. Use laddering when you want staggered liquidity and less interest-rate timing risk. In fixed income, the biggest mistake is reaching for extra yield without understanding the trade-off in credit risk, duration risk or liquidity.

Published on April 4, 2026

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Escalating War Drives Energy Crisis: Surging Prices and Rising Inflation Risks

by Hansraj Agrawal | Apr 4, 2026 | Share Market

Last Updated : Apr 04 2026 | 4:50 PM IST

The worlds energy markets fell first with the war and in the 2nd month the conflict is escalating beyond petrol price hikes, triggering a slew of economic pressures for India, one of the worlds largest crude oil importers. Growth forecasts were trimmed, inflation risks are flashing red, the import bill is set to rise and the government has to handle a fiscal burden of nearly Rs 2 lakh crore.

Oil price uncertainty index captured the scale of the disruption better than every other indicator. By December 2025, it had climbed to 208 while it surged to 773.5, nearly four times the December peak in March 2026.

Sehul Bhatt, director at Crisil Intelligence, says that In March, Brent crude increased to $110120 per barrel, while spot prices of Asian liquefied natural gas nearly doubled to $2025 per MMBtu, and suggests that even though there are early signs of demand moderation, supply uncertainty and logistics constraints are keeping import costs elevated.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 04 2026 | 4:50 PM IST

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Vikran Engineering bags LoAs worth Rs 530.80 crore from

by Hansraj Agrawal | Apr 4, 2026 | Share Market

Vikran Engineering (VEL) said that it has received two major letters of award (LoA) aggregating to Rs 530.80 crore from Maharashtra State Electricity Distribution Co. (MSEDCL), a Government of Maharashtra undertaking.

Vikran Engineering said that it has secured Rs 530.80 crore worth of distribution infrastructure orders from Maharashtra State Electricity Distribution Company (MSEDCL), a Government of Maharashtra undertaking.

These contracts are for undertaking distribution infrastructure strengthening works in the Nashik and Kolhapur zones under the ADB-funded power distribution enhancement program.

The Nashik package is valued at Rs 235.63 crore, while the Kolhapur package stands at Rs 295.17 crore.

The scope includes end-to-end EPC execution covering survey, design, engineering, supply, installation and commissioning of distribution infrastructure, including new substations, transmission lines, transformer augmentation, underground cabling and GIS-based asset mapping.

Both projects are to be executed on a turnkey basis with a completion timeline of 21 months from the respective award dates.

Rakesh Markhedkar, chairman and managing director, Vikran Engineering, said: “These two LoAs from MSEDCL under the ADB-funded program are a strong validation of our technical capabilities and our consistent execution track record in large-scale power distribution infrastructure.

Winning both the Nashik and Kolhapur Zone packages through competitive national bidding is a clear vote of confidence in our engineering depth and project management capabilities.”

Vikran Engineering provides end-to-end services from conceptualization, design, supply, installation, testing, and commissioning on a turnkey basis and has a presence across multiple sectors, including power, water, and railway infrastructure.

The company had reported a 37.9% decline in standalone net profit to Rs 20.91 crore on a 0.5% rise in net sales to Rs 266.46 crore in Q3 FY26 as compared with Q3 FY25.

The scrip had lost 0.34% to end at Rs 55.38 on the BSE yesterday.

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Bajaj Housing Finance clocks 23% YoY jump in gross disbursements in Q4 FY26

by Hansraj Agrawal | Apr 4, 2026 | Share Market

Last Updated : Apr 04 2026 | 3:50 PM IST

Bajaj Housing Finance has reported 23% increase in gross disbursements to Rs 17,530 crore in Q4 FY26 from Rs 14,254 crore in Q4 FY25.

The companys assets under management (AUM) rose 23% YoY to Rs 1,40,700 crore as on 31 March 2026.

“AUM in Q4 FY26 grew by approximately Rs 7,290 crore”, the company stated.

The companys loan assets (AR) stood at approximately Rs 1,23,740 crore as of 31 March 2026 as compared to Rs 99,513 crore as of 31 March 2025.

Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans.

The companys standalone net profit jumped 21.32% to Rs 664.89 crore on a 17.8% increase in total income to Rs 2,886.04 crore in Q3 FY26 over Q3 FY25.

The scrip had risen 1.06% to end at Rs 77.97 on the BSE on Friday.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 04 2026 | 3:50 PM IST

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