Around eight multicap schemes gave over 30% returns in 2024. Axis Multicap Fund, the topper in the category, offered 35.54% return in 2024, followed by LIC MF Multi Cap Fund, which gave 34.84% return in the same time period. Baroda BNP Paribas Multi Cap Fund delivered 34.03% return in the mentioned period.
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Invesco India Multicap Fund and HSBC Multi Cap Fund posted a return of around 33.85% and 32.97%, respectively, in 2024. Kotak Multicap Fund offered 30.43%. SBI Multicap Fund delivered 27.34% return in the said period. Aditya Birla SL Multi-Cap Fund gave 25.05% return.
The other 10 multicap funds on the list gave returns ranging between 14.24% and 24.92% in the same period.
Performance with benchmark
ETMutualFunds compared the performance of these multicap funds with their respective benchmarks. Of 23 multicap funds in the period, 18 schemes have managed to outperform their respective benchmarks indicating an outperformance score of 78% in 2024. In other words, only five multicap funds have failed to beat their benchmarks.
All the multicap funds are benchmarked against Nifty500 Multicap 50:25:25 – TRI which gave 22.62% return in 2024.
Apart from the 13 schemes in the category, which gave more than 25% returns in 2024, five other schemes managed to outperform the benchmark. Mahindra Manulife Multi Cap Fund and Canara Robeco Multi Cap Fund offered 24.92% and 24.91% returns, respectively, in 2024.
ICICI Pru Multicap Fund, ITI Multi-Cap Fund, and HDFC Multi Cap Fund offered 23.92%, 23.82%, and 23.59%, respectively.
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Underperformers
Five multicaps have failed to beat their benchmarks in 2024. Bandhan Multi Cap Fund and Sundaram Multi Cap Fund offered 21.65% and 20.80% returns, respectively, in 2024. Mirae Asset Multicap Fund posted a return of around 20.09%
Tata Multicap Fund and Quant Active Fund delivered 15.06% and 14.24% returns, respectively, in 2024.
The multicap funds have offered an average return of 26.65% in 2024.
We have considered all multicap funds in the said period, all regular and growth options. We calculated the performance from January 1, 2024, to December 17, 2024.
Note, the above exercise is not a recommendation. It was done to evaluate the performance of multicap funds in 2024. One should not make investment or redemption decisions based on the above exercise, but consider risk appetite, investment horizon, and goals before making any investment decision.
(Disclaimer: Recommendations, suggestions, views and opinion given by the experts are their own. These do not represent the views of The Economic Times)
