Equity schemes with notable exposure to stocks in the infrastructure, consumption and industrial sectors gained the most. On the other hand, schemes that mainly bet on sectors like technology, pharma and commodity stocks lost the most.
Financial year 2023 was so volatile for actively managed equity mutual fund schemes. About half of them delivered negative returns during the period. The key factors that drove the markets throughout the year include resurgent geopolitical tensions, uncertain interest-rate movements and valuation concerns. After a strong upward movement in the first half of FY2023, Indian equity markets turned into a correction mode in December 2022. A strong sell-off by foreign portfolio investors (FPIs) and the failure of SVB and Signature Bank, both in the US, spooked investors. The Nifty 50-TRI gained about one percent and the Nifty Midcap 100-TRI two percent. The Nifty Smallcap 100-TRI lost 13 percent during the period. Equity schemes that had notable exposure to the stocks in the infrastructure, consumption and industrial sectors gained the most. On the other hand, schemes that mainly bet on sectors like technology, pharma and commodity lost the most. Here are the top active equity schemes that delivered the highest returns in FY2023. All active equity-oriented schemes, including diversified, sector and thematic funds, with a corpus of over Rs 1,000 crore were considered. Note: past performance is not indicative of future results. Source: ACEMF.
2/11
ICICI Prudential Infrastructure Fund Category: Infrastructure fund Top 3 sectors: Power, banks and construction projects Allocation (%) to large-cap, mid-cap, small-cap and cash: 57:12:25:6 Fund manager: Ihab Dalwai
3/11
ICICI Prudential FMCG Fund Category: Consumption fund Top 3 sectors: Diversified FMCG, personal products and food products Allocation (%) to large-cap, mid-cap, small-cap and cash: 68:10:11:10 Fund manager: Priyanka Khandelwal
4/11
Nippon India Power & Infra Fund Category: Infrastructure fund Top 3 sectors: Construction projects, power and cement & cement products Allocation (%) to large-cap, mid-cap, small-cap and cash: 50:19:28:3 Fund manager: Sanjay Doshi
Tata Small Cap Fund Category: Small-Cap fund Top 3 sectors: Industrial products, consumer durables and commercial services & supplies Allocation (%) to large-cap, mid-cap, small-cap and cash: 0:5:81:14 Fund manager: Chandraprakash Padiyar and Satish Chandra Mishra
6/11
HDFC Focused 30 Fund Category: Focused fund Top 3 sectors: Banks, IT – software and automobiles Allocation (%) to large-cap, mid-cap, small-cap and cash: 82:6:2:10 Fund manager: Roshi Jain
7/11
SBI Contra Fund Category: Contra fund Top-3 sectors: Banks, power and IT - software Allocation (%) to large-cap, mid-cap, small-cap and cash: 38:17:20:25 Fund manager: Dinesh Balachandran
8/11
DSP India T.I.G.E.R Fund Category: Infrastructure fund Top 3 sectors: Industrial products, electrical equipment and power Allocation (%) to large-cap, mid-cap, small-cap and cash: 33:23:37:7 Fund manager: Charanjit Singh and Rohit Singhania
Franklin Build India Fund Category: Infrastructure Fund Top 3 sectors: Industrial products, banks and construction projects Allocation (%) to large-cap, mid-cap, small-cap and cash: 55:14:27:4 Fund manager: Ajay Argal and Kiran Sebastian
10/11
HDFC Small Cap Fund Category: Small Cap Fund Top 3 sectors: Banks, consumer durables and industrial products Allocation (%) to large-cap, mid-cap, small-cap and cash: 4:7:81:8 Fund manager: Chirag Setalvad
11/11
UTI Transportation & Logistics Fund Category: Auto Fund Top-3 sectors: Automobiles, auto components and transport services Allocation (%) to large-cap, mid-cap, small-cap and cash: 68:20:6:6 Fund manager: Sachin Trivedi
