9 mins read . 07 Feb 2023
January 2023 was again a month of negative returns on the key indices. The Nifty was down -2.45% in January 2023, Mid Cap index down -2.64% and the Small Cap index was down -2.36%. The fall in the markets was an outcome of too much hawkishness by the central banks as well as persistent selling by the foreign portfolio investors (FPIs). In January 2023 alone, FPIs sold equities worth $3.52 billion, adding to the pressure on the stock markets.
While equity funds saw tapering of short term performance, the debt funds also came under pressure. Amidst the vagaries in interest rate signals, the bond yields were locked in a slightly higher range of 7.3% to 7.4%. This again impacted short term returns on the bond funds. The pressure on bond yields came from hawkish tone of the Fed and the RBI. Here is how mutual funds across 12 key categories performed in January 2023.
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Canara Robeco Blue-Chip (G) | 0.480% | 15.973% | 13.498% |
Axis Blue-Chip Fund (G) | -5.580% | 10.469% | 11.708% |
Kotak Bluechip Fund (G) | 2.513% | 15.728% | 11.501% |
Category Average | 0.580% | 13.450% | 9.485% |
BSE 100 (TR) Index | 3.266% | 15.618% | 10.903% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Quant Active Fund (G) | 5.591% | 34.030% | 20.418% |
Mahindra Manulife Multi (G) | -1.544% | 21.384% | 14.553% |
Baroda BNP Multi Cap (G) | -0.490% | 19.851% | 11.531% |
Category Average | 2.396% | 18.552% | 12.045% |
BSE 500 (TR) Index | 1.656% | 16.472% | 10.545% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Quant Mid-Cap Fund (G) | 12.907% | 34.303% | 20.128% |
PGIM India Mid-Cap Fund (G) | -0.849% | 32.037% | 18.044% |
Axis Mid-Cap Fund (G) | -3.231% | 17.569% | 15.698% |
Category Average | 1.776% | 19.938% | 11.529% |
BSE Midcap (TR) Index | 1.414% | 18.194% | 8.444% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Quant Small Cap Fund (G) | 6.653% | 49.657% | 24.210% |
Axis Small Cap Fund (G) | 3.538% | 23.980% | 19.235% |
Kotak Small Cap Fund (G) | -0.559% | 28.121% | 16.060% |
Category Average | 1.565% | 27.141% | 12.582% |
BSE Midcap (TR) Index | -2.693% | 25.482% | 9.536% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Quant Tax Plan (G) | 6.603% | 37.537% | 21.540% |
Canara Robeco Tax Saver (G) | -0.900% | 19.114% | 14.486% |
Mirae Asset Tax Saver (G) | 0.006% | 18.766% | 13.762% |
Category Average | 0.167% | 14.879% | 9.340% |
BSE 200 (TR) Index | 2.267% | 16.069% | 10.923% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Quant Absolute Fund (G) | 10.529% | 29.379% | 18.261% |
ICICI Pru Equity & Debt (G) | 7.475% | 20.848% | 13.500% |
Baroda BNP Paribas AEH (G) | 3.148% | 14.087% | 12.619% |
Category Average | 1.712% | 13.579% | 9.274% |
CRISIL MIF Blended Index PR | 3.705% | 7.688% | 7.895% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Kotak Debt Hybrid (G) | 5.091% | 11.670% | 9.790% |
Canara Robeco Hybrid (G) | 3.558% | 9.464% | 9.073% |
ICICI Pru Regular Savings (G) | 4.855% | 9.250% | 8.785% |
Category Average | 4.885% | 8.216% | 6.473% |
CRISIL MIP Blended Index PR | 3.705% | 7.688% | 7.895% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Edelweiss Arbitrage (G) | 5.125% | 4.923% | 5.686% |
Nippon Arbitrage Fund (G) | 4.942% | 4.793% | 5.684% |
Invesco Arbitrage Fund (G) | 5.806% | 4.967% | 5.578% |
Category Average | 4.299% | 4.019% | 4.874% |
Benchmark Comparison | N.A. | N.A. | N.A. |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
DSP G-Sec Fund (G) | 3.675% | 6.743% | 8.506% |
IDFC G-Sec Fund (G) | 2.588% | 6.323% | 8.417% |
ICICI Pru G-Sec Fund (G) | 5.507% | 7.160% | 8.226% |
Category Average | 3.825% | 5.606% | 7.133% |
I-SEC MIBEX Index TR | 3.217% | 5.997% | 7.409% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
HSBC Corporate Bond (G) | 3.439% | 6.347% | 7.664% |
ABSL Corporate Bond (G) | 4.485% | 6.662% | 7.449% |
ICICI Pru Corporate Bond (G) | 5.210% | 6.515% | 7.363% |
Category Average | 3.558% | 5.731% | 6.230% |
CRISIL ST Bond Fund Index PR | 3.951% | 5.931% | 6.951% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
ICICI Pru Credit Risk Fund (G) | 5.640% | 7.494% | 8.175% |
HDFC Credit Risk Fund (G) | 4.651% | 7.592% | 7.717% |
Baroda Credit Risk Fund (G) | 5.400% | 9.130% | 7.552% |
Category Average | 12.913% | 6.164% | 4.523% |
CRISIL ST Bond Fund Index PR | 3.951% | 5.931% | 6.951% |
Data Source: Morningstar |
Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Jan-23):
Name of Fund | 1-Year Return | 3-Year Return | 5-Year Return |
Quant Liquid Plan (G) | 5.214% | 4.884% | 5.881% |
IDBI Liquid Fund (G) | 5.175% | 4.338% | 5.430% |
Mahindra Manulife Liquid (G) | 5.236% | 4.297% | 5.420% |
Category Average | 4.492% | 3.698% | 4.832% |
CRISIL Liquid Fund Index PR | 5.324% | 4.461% | 5.540% |
Data Source: Morningstar |
What are the broad inferences that follow from the above analysis of 12 categories of mutual funds in India for January 2023? Here are some key takeaways.
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