Sector and themes of 2023: Can the winners do an encore in 2024?
Sector and thematic mutual fund Categories such as PSU, infrastructure and auto funds were the winners while Banks & Financial Services, MNC and ESG funds categories were the laggards in 2023
Despite the sluggish start, the year of 2023 was good for equity markets. The S&P BSE Sensex crossed 70,000 points and the Nifty 50 index crossed 21,000 points. All the equity oriented mutual fund categories managed to register positive returns. Performance of major equity fund categories (average return) in 2023: • Largecap funds: 23% • Midcap funds: 38% • Smallcap funds: 42% • Flexicap funds: 28%.
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All the sector and thematic mutual funds registered impressive returns in 2023. Sectors funds categories such as PSU, infrastructure and auto funds were the winners while Banks & Financial Services, MNC and ESG funds categories were the laggards. But will these sectors continue to perform in 2024 as well? Moneycontrol takes a look at the latest additions to their portfolios to gauge how they are gearing up to face the year ahead. Below graphs exhibit the yearly performance and the new stock additions in the portfolio of major sector and thematic funds. Portfolio data as of November 2023. Source: ACEMF.
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2023 rank # 12: Banks & Financial Services Funds Top performing schemes in the category: Sundaram Financial Services Opportunities and Invesco India Financial Services
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2023 rank # 11: MNC Funds Top performing schemes in the category: ICICI Pru MNC and SBI Magnum Global
