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6 mins read . 09 Dec 2022
The month of November 2022, saw an improved performance by equity funds and debt funds. While equity funds gained from a solid performance by the large cap and mid cap indices, the bond funds also gained from bond yields tapering. After hovering around the 7.5% levels for most of the previous month, the toned down aggression of the Fed led to lower bond yields in India. This helped debt funds, especially at the longer end. For equity funds, long term returns were stable, but short term returns got a big boost in November.
Here is how mutual funds across 12 key categories performed in November 2022.
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Canara Robeco Blue-Chip (G) | 8.118% | 19.095% | 16.002% |
| Axis Blue-Chip Fund (G) | 0.040% | 13.942% | 14.409% |
| Edelweiss Large Cap Fund (G) | 11.038% | 17.642% | 14.119% |
| Category Average | 8.347% | 15.780% | 11.947% |
| BSE 100 (TR) Index | 11.828% | 17.833% | 13.745% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Quant Active Fund (G) | 15.999% | 36.395% | 22.962% |
| Mahindra Manulife Multi (G) | 8.980% | 25.151% | 16.322% |
| Nippon India Multi Cap (G) | 20.066% | 21.319% | 13.197% |
| Category Average | 9.287% | 21.184% | 13.871% |
| BSE 500 (TR) Index | 10.727% | 19.278% | 13.308% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
| Category Average | 7.818% | 23.917% | 12.637% |
| BSE Midcap (TR) Index | 6.452% | 21.236% | 10.140% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Quant Small Cap Fund (G) | 14.326% | 53.854% | 23.890% |
| Axis Small Cap Fund (G) | 9.939% | 29.204% | 19.605% |
| Nippon Small Cap Fund (G) | 16.643% | 36.303% | 17.147% |
| Category Average | 7.908% | 31.820% | 13.677% |
| BSE Midcap (TR) Index | 6.553% | 30.775% | 11.122% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Quant Tax Plan (G) | 19.558% | 40.837% | 24.065% |
| Canara Robeco Tax Saver (G) | 7.919% | 23.068% | 17.113% |
| Mirae Asset Tax Saver (G) | 7.399% | 21.267% | 16.175% |
| Category Average | 7.954% | 17.671% | 11.508% |
| BSE 200 (TR) Index | 11.554% | 18.733% | 13.850% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Quant Absolute Fund (G) | 19.561% | 31.893% | 20.383% |
| ICICI Pru Equity & Debt (G) | 16.215% | 21.792% | 14.820% |
| Baroda BNP Paribas AEH (G) | 9.712% | 16.685% | 14.143% |
| Category Average | 7.278% | 15.531% | 10.810% |
| CRISIL MIF Blended Index PR | 3.359% | 8.132% | 8.059% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Kotak Debt Hybrid (G) | 6.508% | 12.129% | 9.864% |
| Canara Robeco Hybrid (G) | 5.030% | 10.354% | 9.307% |
| ICICI Pru Regular Savings (G) | 6.976% | 9.850% | 9.131% |
| Category Average | 6.240% | 8.651% | 6.711% |
| CRISIL MIP Blended Index PR | 3.359% | 8.132% | 8.056% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Nippon Equity Arbitrage (G) | 4.552% | 4.738% | 5.737% |
| Edelweiss Arbitrage Fund (G) | 4.543% | 4.848% | 5.691% |
| Axis Arbitrage Fund (G) | 4.563% | 4.681% | 5.578% |
| Category Average | 3.737% | 3.944% | 4.864% |
| Benchmark Comparison | N.A. | N.A. | N.A. |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Edelweiss G-Sec Fund (G) | 2.890% | 7.177% | 8.087% |
| DSP G-Sec Fund (G) | 2.856% | 6.751% | 7.987% |
| IDFC G-Sec Fund (G) | 1.619% | 6.342% | 7.816% |
| Category Average | 2.142% | 5.494% | 6.556% |
| I-SEC MIBEX Index TR | 1.846% | 5.882% | 7.103% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| HSBC Corporate Bond (G) | 2.175% | 6.314% | 7.507% |
| ABSL Corporate Bond (G) | 3.893% | 6.709% | 7.333% |
| Axis Corporate Bond (G) | 4.202% | 6.894% | 7.303% |
| Category Average | 2.988% | 5.774% | 6.486% |
| CRISIL ST Bond Fund Index PR | 3.239% | 5.962% | 6.766% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| ICICI Pru Credit Risk Fund (G) | 5.336% | 7.670% | 8.098% |
| HDFC Credit Risk Fund (G) | 4.169% | 7.584% | 7.567% |
| Baroda Credit Risk Fund (G) | 5.356% | 9.243% | 7.504% |
| Category Average | 13.289% | 6.001% | 4.439% |
| CRISIL ST Bond Fund Index PR | 3.239% | 5.962% | 6.766% |
| Data Source: Morningstar | |||
Top performing Direct Plans (Growth Option) on 5-year returns (as on 30th Nov-22):
Name of Fund
|
1-Year Return
|
3-Year Return
|
5-Year Return
|
| Quant Liquid Plan (G) | 4.835% | 4.873% | 5.888% |
| IDBI Liquid Fund (G) | 4.654% | 4.263% | 5.433% |
| Mahindra Manulife Liquid (G) | 4.713% | 4.224% | 5.421% |
| Category Average | 0.358% | 0.486% | 2.053% |
| CRISIL Liquid Fund Index PR | 4.809% | 4.399% | 5.530% |
| Data Source: Morningstar | |||
In all the 12 categories of funds above, we have not only charted the fund returns across the short term and the medium to long term, but also benchmarked. In fact, the returns are benchmarked against the segment average as well as the benchmark index. At the end of the day, any active fund needs to convincingly outperform the benchmark indices to justify active stock or bond selection.
What we see in the above tables is that across major equity and debt categories, the top 3 performers have managed to convincingly better the returns offered by the benchmark index. That is alpha. But that is not about all there is to it. The rankings of top funds under various categories are consistent month after month and that is what is important. It makes these rankings an important decision point for fund selection, since the past returns are actually a good indicator of future performance.
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