ETMutualFunds looked at equity mutual fund categories such as large cap, mid cap, large & mid cap, small cap, multi cap, ELSS, flexi cap, focused fund, value, and contra funds.
Around 20 small cap and mid cap schemes doubled investors’ wealth in three years. Eight ELSS and large & mid cap schemes also doubled investors’ wealth. Seven value funds, six multi cap funds, five flexi cap funds, four focused funds, two large cap, and one contra fund also managed to double investors’ wealth.
Quant Small Cap Fund and Nippon India Small Cap Fund were the only two schemes in the list that multiplied investors’ wealth by three times. Quant Small Cap Fund and Nippon India Small Cap Fund multiplied wealth by 3.18 times and 3.01 times respectively. In simpler words, a lumpsum investment of Rs 1 lakh made on September 13, 2020 in these two schemes would have been now around Rs 3 lakh to Rs 3.18 lakh.
Among the 81 equity schemes, HDFC Top 100 Fund offered the lowest CAGR of 26.28% in three years. The scheme managed to double investors’ wealth in three years.
Maximum schemes were from HDFC Mutual Fund, Nippon India Mutual Fund, Quant Mutual Fund. Each of these fund houses had around seven schemes that doubled investors’ wealth in three years.
We considered regular and growth option schemes for the analysis. We considered CAGR for the period starting from September 13, 2020 to September 13, 2023.
Note, the above exercise is not a recommendation. The main purpose of the exercise was to find which equity schemes have doubled investors in three years. One should not make investment or redemption decisions based on the above exercise. One should always consider risk appetite, investment horizon and goal before making investment decisions. Past performance of the scheme does not guarantee future performance.
If you are looking for recommendations, see:
Best mutual funds to invest in 2023
