3 equity mutual fund categories gave double-digit returns in 2024 so far

Around three equity mutual fund categories have offered double-digit average returns in 2024 so far, an analysis of year-to-date performance by equity mutual funds showed.

PSU funds offered the highest average return of 21.72% in 2024 so far. There were around five schemes in the category and these schemes also offered double-digit returns in the year-to-date horizon. CPSE ETF, the topper in the category, offered 25.53% this year. ICICI Prudential PSU Equity Fund offered 22.89%, followed by SBI PSU Fund which gave 20.22%.

PSU funds are benchmarked against S&P BSE PSU -TRI which offered 24.07% in the year-to-date horizon.

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Infrastructure funds stood second and offered an average return of 10.74% in 2024 so far. There were 18 schemes in the infrastructure fund category. Quant Infrastructure Fund, the topper in the category, offered 23.02% in 2024 so far. Bandhan Infrastructure Fund offered 15.35%. HSBC Infrastructure Fund offered the lowest return of around 6.33%.

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Infrastructure funds are benchmarked against Nifty Infrastructure – TRI and S&P BSE India Infrastructure Index, which gave 14.26% and 22.64% respectively.

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The third category in the list was energy and power-based mutual funds. These funds gave an average return of 10.09% in this year so far. There were three schemes in the category. Nippon India Power & Infra Fund gave 12.82% on the year-to-date horizon. DSP Natural Res & New Energy Fund gave 10.51%, followed by Tata Resources & Energy Fund, which gave 6.94%.

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We considered all equity categories such as largecap, midcap, smallcap, large and midcap, ELSS, multicap, flexi cap, focused fund, value, contra, and sectoral/thematic fund categories. We considered regular and growth options.
Note that the above exercise is not a recommendation. The exercise was done to find out equity mutual fund categories that logged double-digit gains in 2024 so far.

One should not make investment or redemption decisions based on the above exercise and should always consider risk appetite, investment horizon, and goal before making investment decisions.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)