Best Mutual Fund Categories and Schemes:How will the year 2024 hold for which categories of equity mutual funds? Which segment and sector related funds have given the highest returns to investors and which scheme has been number one in which category? Amidst the preparations to welcome the New Year, let us take a look at the performance of the mutual fund industry during the passing year under the pretext of these questions.
Good performance of Mid Cap, Contra and ELSS
Mid Cap Funds have won in terms of mutual funds giving better returns to investors in 2024. The one year average return of schemes falling in this category has been 28.60%, which is more than all other categories. Apart from this, the performance of Contra Funds and Equity Linked Savings Scheme (ELSS) has also been good. The categories of Large Cap Funds and Index Funds and ETFs have given comparatively low, but stable returns. In the categories for which we have given performance figures, except index funds and ETFs, all others come under the category of equity funds. We have included index funds and ETFs here because schemes that invest entirely in equity are also included in this category.
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Categories of mutual funds. 1 year return
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Mid Cap Fund: 28.60%
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Contra Fund: 24.20%
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ELSS: 21.70%
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Multi Cap Fund: 21.60%
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Small Cap Fund: 19.10%
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Sectoral. Thematic: 19.60%
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Focused Fund: 19.60%
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Dividend Yield Fund: 18.20%
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Value Fund: 17.30%
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Large & Mid Cap Fund: 17.20%
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Large Cap Fund: 13.10%
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Index Funds. ETFs: 11.60%
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Who became the topper scheme in every category?
Topper schemes of every category have given huge profits to investors in 2024. Among these, the name of Motilal Oswal Mid Cap Fund is at the top, which has given returns of up to 58.79% in one year. HDFC Pharma and Healthcare Fund is at second place by giving 51.31% return in one year, while Motilal Oswal ELSS Tax Saver Fund is at third place by giving 48% return.
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Who was the topper in which category of mutual fund?
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Mid Cap Fund: Motilal Oswal Midcap Fund – 58.79% (Direct), 57.08% (Regular)
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Sectoral/Thematic: HDFC Pharma And Healthcare Fund – 51.31% (Direct), 49.44% (Regular)
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ELSS: Motilal Oswal ELSS Tax Saver Fund – 48.00% (Direct), 46.25% (Regular)
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Small Cap Fund: Quant Small Cap Fund – 47.22% (Direct), 45.42% (Regular)
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Focused Fund: Invesco India Focused Fund – 44.80% (Direct), 42.93% (Regular)
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Large & Mid Cap Fund: Motilal Oswal Large and Midcap Fund – 46.79% (Direct), 44.89% (Regular)
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Index Funds/ETFs: ICICI Prudential Nifty Pharma Index Fund – 37.57% (Direct), 36.74% (Regular)
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Multi Cap Fund: LIC MF Multi Cap Fund – 33.71% (Direct), 31.53% (Regular)
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Dividend Yield Fund: LIC MF Dividend Yield Fund – 32.14% (Direct), 30.67% (Regular)
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Contra Fund: Invesco India Contra Fund – 31.45% (Direct), 29.96% (Regular)
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Value Fund: Axis Value Fund – 29.38% (Direct), 27.65% (Regular)
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Large Cap Fund: WhiteOak Capital Large Cap Fund – 22.87% (Direct), 20.82% (Regular)
(Source: AMFI)
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Focus on long term investment
Although the mutual funds in the list given above have given excellent returns to their investors in different categories in 2024, it cannot be considered as a guarantee that the same performance will continue in the future. Apart from this, investing in mutual funds should always be done with a long term perspective. It is possible that a fund which has performed very well in the last 1 year may not perform the same in the next 3 or 5 years. It is also possible that the scheme giving low returns in 2024 may be performing well in the long run or may do so in future. Therefore, while investing money in mutual funds, investors should focus on long term wealth creation, for which it is necessary to make regular investments.
(Disclaimer: The purpose of this article is only to provide information and not to advise investment in any fund. Decisions related to investment should be taken only after taking the advice of SEBI authorized investment advisor.)
