iconiifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

India’s best performing mutual funds for March 2023

3 Apr 2023 , 09:44 AM

The overall number may be positive, but that is more due to the big block investment in Adani group stocks by GQG Investments. Even as the Adani sell-off appeared to subside, there was a new devil on the street as global banks folded up like nine pins. For the month of March 2023, the markets were very mixed. The Nifty and Sensex ended March 2023 with gains of 0.32% and 0.05% respectively. However, the Mid cap index fell by -0.27% while the Small Cap index fell by -1.76% in March. Small cap index fell nearly 13.8% for FY23 overall.

Bond markets saw tapering of yields. The banking crisis led bond yields higher to 7.5%, which later tapered to 7.32% by close of the month. While the markets have been factoring in more hawkishness since early February 2023, the banking crisis raised hopes that the Fed may go slow on rate hikes. After all, a good part of the banking crisis was also an outcome of sharply higher yields. However, the latest US policy statement shows that it has not changes its stance; only modified its strategy. Here is the mutual fund show; on equity and debt.

  1. Equity Large-Cap Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund 

1-Year Return

3-Year Return

5-Year Return

Canara Robeco Blue-Chip (G)

0.671%

24.856%

14.287%

Edelweiss Large Cap Fund (G)

3.762%

27.103%

12.773%

Baroda BNP Large Cap (G)

2.419%

23.698%

12.659%

Category Average

-0.272%

24.191%

10.565%

BSE 100 (TR) Index

-0.057%

27.424%

11.958%

Data Source: Morningstar
  1. Equity Multi-Cap Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Quant Active Fund (G)

-2.342%

47.076%

19.694%

Mahindra Manulife Multi (G)

-1.088%

33.524%

15.663%

Nippon India Multi Cap (G)

8.336%

36.248%

13.156%

Category Average

1.216%

31.580%

12.857%

BSE 500 (TR) Index

-1.473%

28.681%

11.454%

Data Source: Morningstar
  1. Equity Flexi-Cap Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Quant Flexi Cap Fund (G)

1.721%

48.387%

18.089%

PPFAS Flexi Cap Fund (G)

0.207%

33.817%

17.965%

PGIM India Flexi Cap Fund (G)

-3.171%

35.239%

15.777%

Category Average

-1.667%

26.142%

11.105%

BSE 500 (TR) Index

-1.473%

28.681%

11.454%

Data Source: Morningstar
  1. Equity Mid-Cap Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Quant Mid-Cap Fund (G)

3.387%

46.844%

19.633%

PGIM India Mid-Cap Fund (G)

-0.086%

44.684%

18.574%

MOSL Mid-Cap 30 (G)

12.035%

37.837%

15.754%

Category Average

1.361%

33.097%

12.025%

BSE Midcap (TR) Index

1.161%

32.725%

9.574%

Data Source: Morningstar
  1. Equity Small-Cap Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Quant Small Cap Fund (G)

6.475%

68.590%

22.912%

Axis Small Cap Fund (G)

1.361%

37.867%

18.921%

Nippon Small Cap Fund (G)

8.271%

50.533%

16.740%

Category Average

2.222%

42.461%

13.247%

BSE Midcap (TR) Index

-3.593%

42.064%

10.388%

Data Source: Morningstar
  1. Equity Linked Savings Schemes (Tax Saving)

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Quant Tax Plan (G)

0.529%

51.331%

22.518%

Mirae Asset Tax Saver (G)

-0.069%

31.994%

15.707%

Canara Robeco Tax Saver (G)

0.812%

29.186%

15.627%

Category Average

0.217%

27.198%

10.593%

BSE 200 (TR) Index

-0.609%

28.553%

12.176%

Data Source: Morningstar
  1. Index Funds (Equity)

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Nippon India Sensex Fund (G)

1.823%

26.900%

13.299%

HDFC India Sensex Fund (G)

1.778%

27.082%

13.267%

Tata S&P BSE Sensex Fund (G)

1.707%

26.403%

13.215%

Category Average

-1.547%

26.777%

11.384%

Benchmark Index

N.A.

N.A.

N.A.

Data Source: Morningstar
  1. Balanced Funds (Aggressive Allocation)

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Quant Absolute Fund (G)

3.800%

38.962%

19.388%

ICICI Pru Equity & Debt (G)

5.092%

31.552%

14.314%

Baroda BNP Paribas AEH (G)

2.628%

21.380%

13.517%

Category Average

1.491%

22.780%

10.256%

CRISIL MIF Blended Index PR

3.008%

8.983%

8.045%

Data Source: Morningstar
  1. Balanced Funds (Conservative Allocation)

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Kotak Debt Hybrid (G)

5.366%

14.374%

9.931%

Canara Robeco Hybrid (G)

3.742%

11.222%

9.386%

ICICI Pru Regular Savings (G)

4.979%

11.100%

8.893%

Category Average

3.615%

10.800%

6.746%

CRISIL MIP Blended Index PR

3.008%

8.983%

8.045%

Data Source: Morningstar
  1. Dynamic Asset Allocation Funds (BAF)

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

HDFC BAF (G)

14.045%

29.910%

13.214%

Edelweiss BAF (G)

3.065%

19.333%

11.979%

Nippon India BAF (G)

5.183%

18.380%

10.308%

Category Average

2.943%

16.030%

8.187%

Benchmark Index

N.A.

N.A.

N.A.

Data Source: Morningstar
  1. Arbitrage Funds (Cash-Futures)

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Edelweiss Equity Arbitrage (G)

5.865%

4.893%

5.749%

Nippon Arbitrage Fund (G)

5.742%

4.869%

5.703%

Invesco Arbitrage Fund (G)

6.578%

5.025%

5.653%

Category Average

5.091%

4.090%

4.931%

Benchmark Index

N.A.

N.A.

N.A.

Data Source: Morningstar
  1. Government Securities Funds (Gilt Funds)

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Bandhan G-Sec Fund (G)

3.034%

5.478%

8.428%

DSP G-Sec Fund (G)

4.922%

5.787%

8.390%

Edelweiss Gilt Fund (G)

4.566%

6.437%

8.233%

Category Average

4.261%

4.923%

7.058%

I-SEC MIBEX Index TR

3.984%

5.555%

7.400%

Data Source: Morningstar
  1. Corporate Bond Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

HSBC Corporate Bond (G)

3.497%

5.587%

7.595%

ABSL Corporate Bond (G)

4.824%

6.618%

7.439%

HDFC MF Corporate Bond (G)

4.297%

6.162%

7.312%

Category Average

3.946%

5.612%

6.585%

CRISIL ST Bond Fund Index PR

4.113%

5.758%

6.877%

Data Source: Morningstar
  1. Credit Risk Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

ICICI Pru Credit Risk Fund (G)

5.869%

7.467%

8.084%

HDFC Credit Risk Fund (G)

4.694%

7.371%

7.653%

Baroda Credit Risk Fund (G)

5.771%

10.264%

7.513%

Category Average

4.876%

7.382%

4.511%

CRISIL ST Bond Fund Index PR

4.113%

5.758%

6.877%

Data Source: Morningstar
  1. Liquid Funds

Top performing Direct Plans (Growth Option) on 5-year returns (as on 31st Mar-23):

Name of Fund

1-Year Return

3-Year Return

5-Year Return

Quant Liquid Plan (G)

5.677%

4.908%

5.885%

IDBI Liquid Fund (G)

5.720%

4.362%

5.418%

Mahindra Manulife Liquid (G)

5.812%

4.358%

5.417%

Category Average

4.982%

3.756%

4.827%

CRISIL Liquid Fund Index PR

5.811%

4.520%

5.505%

Data Source: Morningstar

 

Here are some key takeaways from the March 2023 mutual fund rankings.

  1. The volatility in the equity indices resulted in 1-year returns on equity funds tapering in March 2023. However, longer period returns are not impacted. There has been a surge in 3-year returns, but that is due to the March 2020 COVID base effect.

     

  2. Across categories, the top-3 funds have comfortably the benchmark index returns on TRI basis. This is indicative of alpha generation by the category leaders on a consistent basis.

     

  3. Debt funds have given better returns on a 1-year basis compared to last month. That is because bond yields tapered in the second half of March after the global banking crisis raised hopes that central banks may go slow on rate hikes.

But, the big takeaway is that rankings across equity and debt categories have been largely consistent with previous months. This makes historical returns on a rolling basis, predictive and indicative of future returns on these funds.

Related Tags

  • Best MF
  • Best Mutual Funds
  • MF
  • MFs
  • mutual fund
  • mutual funds
sidebar mobile

BLOGS AND PERSONAL FINANCE

Images
29 Mar 2024   |   10:14 AM
Images
28 Mar 2024   |   03:36 PM
Images
28 Mar 2024   |   03:01 PM
Images
28 Mar 2024   |   01:21 PM
Read More

Invest Right News

26 Mar 2024   |   02:39 PM
26 Mar 2024   |   02:31 PM
26 Mar 2024   |   02:26 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.