2023 was a golden year for mutual fund investors.!
The mutual fund market witnessed significant growth in the year 2023, with large, mid-, and small-cap funds delivering favourable returns to investors. Many mutual funds reported returns ranging from 40 to 50% for the financial year ending march 31, 2024, indicating a prosperous period for investment. Particularly, small-cap and mid-cap funds stood out, offering high returns to investors, alongside a notable increase of approximately 30% in the Nifty 50 index over the same period.
Mid-cap funds also exhibited strong performance, with ITI Mid Cap Fund generating a return of 62%, followed by Motilal oswal with 60%, mahindra Manulife Mid Cap Fund with 59%, and hdfc Mid Cap with 57% returns.
In the realm of large-cap funds, which primarily invest in large-cap stocks, Quant Large Cap Funds led the way with a return of 52% for the financial year 2023-24. bank of india Blue Chip, JM Large Cap, Nippon india Large Cap Fund, and Taurus Large Cap Fund followed closely with returns ranging from 44 to 47%.
Mid-cap funds also exhibited strong performance, with ITI Mid Cap Fund generating a return of 62%, followed by Motilal oswal with 60%, mahindra Manulife Mid Cap Fund with 59%, and hdfc Mid Cap with 57% returns.
In the realm of large-cap funds, which primarily invest in large-cap stocks, Quant Large Cap Funds led the way with a return of 52% for the financial year 2023-24. bank of india Blue Chip, JM Large Cap, Nippon india Large Cap Fund, and Taurus Large Cap Fund followed closely with returns ranging from 44 to 47%.