So far this year, four funds have delivered returns of over 25%. The Canara Robeco Manufacturing Fund, launched in March, has delivered the highest return since inception of around 26.90%. The Motilal Oswal Large Cap Fund, launched in February, has delivered a return of 26.70% since inception.
In March, the Baroda BNP Paribas Innovation Fund and the Kotak Technology Fund, a thematic and sector-specific fund respectively, were launched. The schemes generated returns of 26.41% and 25.74% respectively.
Quantitative PSU Fund PGIM India Large and Mid Cap Fund, a large and midcap fund launched in February, returned 24.81% and was launched in February.
Quantitative Consumption Fund and SBI Energy Opportunities Fund have offered returns of 17.35% and 17.24% respectively. The plans were launched in January and February respectively.
Helios Mutual Fund, a relatively new entrant in the mutual fund industry, launched its balanced advantage fund in March, which offered a return of 10.90% since inception. SBI Mutual Fund, the largest mutual fund, launched a sectoral fund, SBI Automotive Opportunities Fund, in June, which offered a return of 7.99% since inception. Kotak Special Opportunities Fund, launched in June, offered a return of 2.41% since inception. Edelweiss Business Cycle Fund and Samco Special Opportunities Fund gave returns of 0.66% and 0.60% respectively since their respective inception date. The schemes were launched in July and June respectively. Baroda BNP Paribas Manufacturing Fund offered negative returns of around 0.21% since inception in June.
Further analysis of the data showed that around 26 mutual funds launched new mutual funds so far in 2024. Of these 26 mutual funds, Motilal Oswal Mutual Fund and WhiteOak Capital Mutual Fund launched three funds each so far this year. Six mutual funds launched two new funds each and the rest launched only one new fund.
Around 11 new funds were launched in June, followed by nine new funds in February. Six new funds were launched in March and three each in January and July. Two and one new mutual funds were launched in April and May respectively.
In terms of category, the largest number of new funds came from sector and thematic categories. Around 25 sector and thematic categories thematic funds They were launched in 2024 so far, followed by three multi-cap funds. Two new funds each from large-cap, mid-cap and balanced advantage/dynamic asset allocation categories. One new fund each from flexible cap, focused fund, large cap and small cap categories was launched.
No investment or redemption decisions should be made based on the previous exercise. Risk appetite, investment horizon and objective should always be taken into account before making any investment decision.
(Disclaimer:The recommendations, suggestions, views and opinions of the experts are their own and do not represent the views of The Economic Times.
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