03/12/2024
*32 equity mutual funds completed 25 years in 2024. How much returns did they offer?*
With several mutual fund houses launching new schemes hitting the market every day, 32 equity mutual funds have completed 25 years in the Indian mutual fund industry this year. Around seven of these 32 schemes are ELSS funds, six are largecap funds, five are flexi and large cap, four midcap, two value, and one contra, multi, and smallcap funds.
*_ELSS Funds_*
Seven ELSS Funds have offered a CAGR ranging between 10.60% to 23.59%. The oldest ELSS fund SBI Long Term Equity Fund (earlier known as SBI Magnum TaxGain’93 Fund) was launched in March 1993. The scheme has offered 16.68% CAGR since its inception. HDFC ELSS Tax saver (earlier known as HDFC TaxSaver Fund) has offered 23.59% CAGR since its inception in March 1996 and is managed by Roshi Jain.
Sundaram ELSS Tax Saver Fund (earlier known as Sundaram Tax Savings Fund) and Ta**us ELSS Tax Saver Fund (earlier known as Ta**us Tax Shield Fund) posted a CAGR of 16.18% and 12.29% respectively since their inception in March 1996.
LIC MF ELSS Tax Saver (earlier known as LIC MF ELSS) has offered 10.60% CAGR since its inception in March 1998. Franklin India ELSS Tax Saver Fund (earlier known as Franklin India Taxshield Fund) and ICICI Prudential ELSS Tax Saver Fund (ICICI Prudential LT Equity Fund (Tax Saving)) have offered 21.43% and 19.40% CAGR respectively since their inception in April 1999 and August 1999.
*_Large Cap Funds_*
Six largecap funds have offered a CAGR ranging between 9.70% to 19.30%. Franklin India Bluechip Fund has offered 19.30% CAGR since its inception in December 1993. Launched in February 1995, Ta**us Large Cap Fund (earlier known as Ta**us Largecap Equity Fund) has offered a CAGR of 11.02% since its inception.
JM Large Cap Fund (previously known as JM Equity Fund) has offered 9.70% CAGR since its inception in April 1995. HDFC Top 100 Fund (HDFC Top 200 Fund) posted a CAGR of 18.98% since its inception in September 1996.
Launched in March and May 1998, LIC MF Large Cap Fund (previously known as LIC MF Growth Fund) and Tata Large Cap Fund (previously known as Tata Pure Equity Fund) have offered 10.55% and 19.22% CAGR respectively since their inception.
*_Flexi Cap Funds_*
Five flexi cap funds have offered a CAGR between 9.88% to 21.61%. Ta**us Flexi Cap Fund (earlier known as Ta**us Starshare (Multi Cap) Fund) and Franklin India Flexi Cap Fund (Franklin India Equity Fund) have offered a CAGR of 10.68% and 18.32% respectively since their inception in January and September 1994.
HDFC Flexi Cap Fund (previously known as HDFC Equity Fund) has offered 19.09% CAGR since its inception in January 1995 and is managed by Roshi Jain. LIC MF Flexi Cap Fund (earlier known as LIC MF Multi Cap Fund) and Aditya Birla SL Flexi Cap Fund (Aditya Birla SL Equity Fund) gave a CAGR of 9.88% and 21.61% respectively since their inception in March and August 1998.
*_Large & Mid Cap Funds_*
The oldest equity scheme is the Tata Large & Mid Cap Fund (earlier known as Tata Equity Opportunities Fund), a large & mid cap fund, that was launched in 1993. The scheme has offered 13.24% CAGR since its inception.
SBI Large & Midcap Fund (earlier known as SBI Magnum Multiplier Fund ) has given 15.12% CAGR since its inception in February 1993. HDFC Large and Mid Cap Fund (earlier known as HDFC Growth Opportunities Fund) delivered 13.10% CAGR since its inception in February 1994. Nippon India Vision Fund and ICICI Prudential Large & Mid Cap Fund (earlier known as Top 100 Fund) delivered 18.52% and 18.75% CAGR since their respective inception in October 1995 and July 1998.
*_Mid Cap Funds_*
Franklin India Prima Fund, the oldest midcap fund, has given 19.80% CAGR since its launch in December 1993. Tata Mid Cap Growth Fund and Ta**us Mid Cap Fund (earlier known as Ta**us Discover (Midcap) Fund) delivered 13.12% and 8.61% CAGR respectively since their respective inception in July and September 1994.
Nippon India Growth Fund has given a CAGR of 22.84% since its inception in October 1995.
*_Value Funds_*
HDFC Capital Builder Value Fund (previously known as HDFC Capital Builder Fund) and JM Value Fund (previously known as JM Basic Fund) offered 14.84% and 17.34% CAGR since their inception in February 1994 and June 1997.
*_Contra Fund_*
SBI Contra Fund (earlier known as SBI Magnum Contra Fund) has given a CAGR of 19.24% since its launch in July 1999. The scheme is managed by Dinesh Balachandran and Pradeep Kesavan
*_Multi Cap Fund_*
ICICI Pru Multicap Fund (earlier known as ICICI Pru Top 200 Fund) delivered a CAGR of 15.50% in October 1994. The scheme is managed by Sankaran Naren and Anand Sharma.
*_Small Cap Fund_*
Quant Small Cap Fund (previously known as Quant Income Bond) gave a CAGR of 12.86% since its launch in October 1996. The scheme is managed by Ankit Pande, Vasav Sahgal, and Sanjeev Sharma.
We considered all equity mutual funds. We considered regular and growth options. We looked at the CAGR performance of these 25 year old schemes since their respective inception.
Note, the above exercise is not a recommendation. The exercise was done to find which equity schemes have completed 25 years of existence in the market and how they have performed since their inception.
One should not make investment or redemption decisions based on the above exercise. One should always consider risk appetite, investment horizon, and goals before making any investment decisions.
