Best flexi cap mutual funds in the past 3 years: Top 6 schemes beat the benchmark index returns | Mint
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Business News/ Money / Personal Finance/  Best flexi cap mutual funds in the past 3 years: Top 6 schemes beat the benchmark index returns
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Best flexi cap mutual funds in the past 3 years: Top 6 schemes beat the benchmark index returns

Flexi cap funds is a category introduced in November 2020 in order to offer more flexibility to the mutual funds. There are 37 schemes in this category with total AUMs of ₹2.90 lakh crore

Flexi cap funds are mandated to invest a minimum of 65 percent of  assets in equity Premium
Flexi cap funds are mandated to invest a minimum of 65 percent of  assets in equity

Flexi cap funds refer to the mutual fund schemes that are mandated to invest their assets across large cap, mid cap and small cap stocks with a minimum of 65 percent of assets in equity and equity-related instruments.

This is a category introduced by the capital markets regulator Sebi in November 2020. The idea behind the introduction of this category was to offer more flexibility to the mutual funds in the pursuit of recommendations made by the mutual fund advisory committee (MFAC).

The markets regulator even permitted fund houses to convert their existing schemes into flexi cap in pursuance of the prescribed norms.

There are 37 schemes in this category with total assets under management (AUMs) of 2.90 lakh crore, reveals AMFI (Association of Mutual Funds in India) data as on Sep 30, 2023.

These flexi cap mutual funds delivered maximum returns in the past three years:

Flexi cap funds                                        3-year-returns (%) Benchmark (%)
HDFC Flexi Cap Fund                                                  30.7421.24
Quant Flexi Cap Fund                                                30.8421.24
JM Flexicap Fund                                                              28.4221.38
Franklin India Flexi Cap Fund                               26.2121.24
Bank of India Flexi Cap Fund                               24.9521.38
Parag Parikh Flexi Cap Fund                                        22.9921.24

(Source: AMFI, data as on Oct 23, 2023)

As one can see in the table above, nearly half a dozen flexi cap schemes have managed to beat the benchmark indices in the past three years. The top performing schemes gave annualised returns in the range of 28-30 percent, while others have delivered a return in the range of 22-26 percent per annum.

These are the top-performing flexi cap funds:

HDFC Flexi Cap Fund: It was launched on Jan 1, 1995 and has delivered an annualised return of 18.5 percent since inception.

The key constituent stocks in the scheme are HDFC Bank, ICICI Bank, Treps, NTPC and Cipla. It is a large fund with an asset size of 38,668 crore.

Quant Flexi Cap Fund: It was launched on Aug 28, 2008 and has delivered an annualised return of 13.95 percent since inception. The key constituent stocks are Treps, HDFC Bank, Future on Tata Steel, RIL and Jio Financial Services. The asset size of this scheme is 1,908 crore.

JM Flexicap Fund: It was launched on Sept 23, 2008 and has given an annualised return of 13.63 percent since inception. The key constituent stocks of the scheme are REC, L&T, Treps-Tri Party Repo, Infosys and One 97 Communications. It is a relatively smaller fund with an asset size of 545 crore.

 

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Published: 25 Oct 2023, 10:22 AM IST
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