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%.
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.
2023 rank # 12: Banks & Financial Services Funds
Top performing schemes in the category: Sundaram Financial Services Opportunities and Invesco India Financial Services
2023 rank # 11: MNC Funds
Top performing schemes in the category: ICICI Pru MNC and SBI Magnum Global
2023 rank # 10: ESG Funds
Top performing schemes in the category: ICICI Pru ESG and Quantum India ESG Equity
2023 rank # 9: Service Industry Funds
Top performing schemes in the category: Sundaram Services and ICICI Pru Exports & Services
Top 8: Consumption Funds
Top performing schemes in the category: Tata India Consumer and ICICI Pru Bharat Consumption
Top 7: Commodities Funds
Top performing schemes in the category: SBI Magnum Comma and ICICI Pru Commodities
Top 6: Pharma & Health Care Funds
Top performing schemes in the category: ICICI Pru Pharma Healthcare & Diagnostics (P.H.D) and Nippon India Pharma
Top 5: Technology Funds
Top performing schemes in the category: Franklin India Technology and Aditya Birla SL Digital India
Top 4: Energy & Power Funds
Top performing schemes in the category: Nippon India Power & Infra and DSP Natural Res & New Energy
Top 3: Auto Funds
Top performing schemes in the category: ICICI Pru Transportation and Logistics and UTI Transportation & Logistics
Top 2: Infrastructure Funds
Top performing schemes in the category: HDFC Infrastructure and Franklin Build India
Top 1: PSU Funds
Top performing schemes in the category: CPSE ETF and Bharat 22 ETF
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