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Business News/ Money / Personal Finance/  Mutual fund returns: 5 top performing value funds of 2023
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Mutual fund returns: 5 top performing value funds of 2023

Value mutual funds refer to the mutual fund schemes which use value investment strategy and have a minimum of 65 percent allocation to stocks.

There are 23 value mutual funds with total assets under management (AUMs) amounting to ₹1.25 lakh crore. Premium
There are 23 value mutual funds with total assets under management (AUMs) amounting to 1.25 lakh crore.

Before investing in a mutual fund scheme, investors tend to view the historical returns as one of the key criteria. Apart from the past returns of a mutual fund, other significant factors that impact an investor’s decision of whether to invest or not include the fund house’s reputation, category of scheme, and the overall market performance, among others.

The ideal way to judge a fund’s relative performance is to compare its returns with those of its rivals within the same category.

Here, we zero in on the performance of value mutual funds in the year 2023 and shortly year at the top performing ones. At the outset, let us explain the concept behind value mutual funds.

Value mutual funds

Value funds refer to the mutual fund schemes which use value investment strategy and have a minimum of 65 percent allocation to stocks.

In the calendar year 2023, value funds – as a category gave a return of 33.29 percent, the Morning Star data shows.

There are 23 value mutual funds with total assets under management (AUMs) amounting to 1.25 lakh crore.

The AUMs of value funds are nearly half of the large cap schemes’ assets ( 2.76 lakh crore) but more than that of multi cap funds (1.03 lakh crore AUMs).

Out of these 23 schemes, the top performing five funds are listed below:

Top performing value funds

Value Funds                                                                         1-year-returns (%)
Aditya Birla Sun Life Pure Value Fund                                42.36
JM Value Fund                                                                   46.62
Nippon India Value Fund                                                    39.33
HSBC Value Fund                                                              39.04
Axis Value Fund                                                                   38.65

(Source: AMFI, returns as on Dec 22, 2023)

As we can see in the table above, the top performing scheme is Aditya Birla Sun Life Pure Value Fund that gave a return of a whopping 42.36 percent. JM Value Fund delivered the return of 46.62 percent and Axis Value Fund gave the return of 38.65 percent.

It is vital to note that the historical returns — albeit key to evaluating a scheme’s performance — do not guarantee the future returns.

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Published: 27 Dec 2023, 02:26 PM IST
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