Best mutual funds 2024: These MF schemes across market cap gave highest returns in the past five years. Full list here

Are you planning to invest in a mutual fund scheme? If yes, there are 1,485 open-ended schemes across equity and debt categories. Investors are encouraged to examine a scheme based on a host of factors such as the category it belongs to (active or passive), the fund house which runs it and the sub-category it falls under (large cap or flexi cap, etc), among others.

However, one key factor determining the growth potential of a mutual fund scheme is its past returns.

This means that if a scheme has performed quite well in the recent past, investors gravitate towards it, and conversely, if a scheme underperforms over a period of time, investors feel disenchanted with it.

It is a different matter that the past returns may be a key consideration but it should not be seen as a sole criterion for investing.

Having said this, here we list out the past returns of equity mutual funds across market capitalisation

Large cap mutual funds

A large cap mutual fund is a mutual fund scheme which invests a minimum of 80 percent of its assets in the large cap stocks, as per the Sebi’s guidelines on categorisation of mutual fund schemes. For the uninitiated, large cap stock refers to the securities of top 100 companies when ranked on the basis of their market capitalisation.

Here we have listed the top performing large cap mutual fund schemes on the basis of their five-year performance as on Sept 27, 2024.

(Source: AMFI; Returns as on Sept 27, 2024)

As we can see in the table above, eight large cap mutual funds delivered more than 20 percent return in the past five years. The highest return was given by Nippon India Large Cap Fund followed by ICICI Prudential Bluechip Fund.

Mid-cap mutual funds

A mid cap mutual fund refers to a scheme which invests a minimum of 65 percent of its assets in the mid cap stocks, as per the Sebi’s guidelines on categorisation of schemes.

Mid cap stock refers to the securities of companies that are ranked between 101-249 when measured on the basis of their market capitalisation.

Here we have listed the top performing mid cap mutual fund schemes which have delivered over 30 percent return in the past five years as on Sept 27, 2024.

(Source: AMFI; Returns as on Sept 27, 2024)

As we can see in the table above, seven mid cap mutual fund schemes have delivered over 30 percent return in the past five years with Quant Mid Cap Fund delivering the highest return followed by Motilal Oswal Midcap Fund.

Small Cap mutual funds

A small cap mutual fund refers to a scheme which invests a minimum of 65 percent of its assets in the small cap stocks, as per the Sebi’s guidelines on categorisation of schemes.

These companiesare below the top 250 companies when measured on the basis of their market capitalisation.

Here we have listed the top performing small cap mutual fund schemes which gave over 30 percent return in the past five years as on Sept 27, 2024.

(Source: AMFI; Returns as on Sept 27, 2024)

As we can see in the table above, nearly 15 small cap schemes gave more than 30 percent return in the past five years. However, it is vital to note that the past returns of a mutual fund scheme do not guarantee its future returns. 

Put simply, if a scheme performed exceptionally well in the past five years, it may or may not grow at the same pace in the future.

Note: This story is for informational purposes only. Please speak to a SEBI-registered investment advisor before making any investment related decision.