Around four funds have offered over 25% return in this year so far. Canara Robeco Manufacturing Fund, a thematic fund launched in March, offered the highest return of around 26.90% since the time it was launched. Motilal Oswal Large Cap Fund which was launched in February offered 26.70% return since its inception.
Baroda BNP Paribas Innovation Fund and Kotak Technology Fund, a thematic and sectoral fund respectively, were launched in March. The schemes gave 26.41% and 25.74% returns respectively.
Quant PSU Fund delivered 24.81% return and was launched in February. PGIM India Large and Mid Cap Fund, a large & mid cap fund launched in February, gave 21.30% return.
Quant Consumption Fund and SBI Energy Opportunities Fund have offered 17.35% and 17.24% returns respectively. The schemes 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 10.90% return since its inception. SBI Mutual Fund, the largest mutual fund, launched a sectoral fund – SBI Automotive Opportunities Fund in June which offered 7.99% return since its inception. Kotak Special Opportunities Fund, launched in June, offered 2.41% return since its inception. Edelweiss Business Cycle Fund and Samco Special Opportunities Fund gave 0.66% and 0.60% returns 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 its inception in June.
A further analysis of the data showed that around 26 mutual funds came up with their new mutual funds in 2024 so far. Out of these 26 mutual funds, Motilal Oswal Mutual Fund and WhiteOak Capital Mutual Fund came up with three funds each in this year so far. Six mutual funds came up with two new funds each and the others just launched one new fund.
In June, around 11 new funds were launched , followed by nine new funds in February. Six new funds were launched in March and three each in January and July. In April and May, two and one new mutual funds were launched respectively.
Looking at the category wise, the maximum number of new funds were from sectoral and thematic categories. Around 25 sectoral and thematic funds were launched in 2024 so far, followed by three multi cap funds. Two new funds each from large & mid cap and balanced advantage/ dynamic asset allocation categories. One new fund each was launched from flexi cap, focused fund, large cap, and small cap categories.
One should not make investment or redemption decisions based on the above exercise. One should always consider risk appetite, investment horizon, and goal before making any investment decision.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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