Mutual funds are investment vehicles that pool money from various investors and invest in different assets such as stocks, bonds, gold, etc. There are different types of mutual funds based on their investment objectives, risk profiles, and asset classes. Some of the common types are equity funds, debt funds, hybrid funds, index funds, etc.
1) Quant Small Cap Fund Direct Plan-Growth: This fund invests in small cap stocks that have high growth potential and are undervalued by the market. The fund has delivered a whopping 62.16% return in the last three years and 27.01% return in the last five years².
2) UTI Nifty Index Fund: This fund tracks the performance of the Nifty 50 index, which consists of 50 large cap companies that represent various sectors of the Indian economy. The fund has a low expense ratio and a high tracking error. The fund has given a return of 17.75% in the last three years and 16.54% in the last five years³.
3) Mirae Asset Large Cap Fund: This fund invests in large cap stocks that have strong fundamentals, competitive advantages, and consistent growth. The fund follows a blend of growth and value investing styles and has a diversified portfolio across sectors. The fund has generated a return of 18.07% in the last three years and 17.14% in the last five years².
4) Parag Parikh Flexi Cap Fund: This fund invests in stocks across market capitalizations and geographies, with a focus on value investing and behavioral finance principles. The fund has a high exposure to international stocks, especially US-based technology companies. The fund has given a return of 25.97% in the last three years and 21.74% in the last five years³.
5) Axis Midcap Fund: This fund invests in mid cap stocks that have strong growth prospects and competitive edge. The fund follows a bottom-up stock selection approach and has a concentrated portfolio of around 30-40 stocks. The fund has delivered a return of 24.02% in the last three years and 20.04% in the last five years².
These are some of the top mutual funds of 2023 based on my web search. However, you should note that past performance is not indicative of future returns and you should do your own research before investing in any mutual fund. You should also consider your risk appetite, investment horizon, and financial goals before choosing a mutual fund.
If you want to know more about these or other mutual funds, you can refer to these sources:
(1) Best Mutual Funds To Invest in India 2023 – ET Money.
(2) Top 10 Best Mutual Funds to invest in 2023 – Myinvestmentideas.com.
(3) Top 10 mutual funds to invest in 2023 – The Economic Times.
(4) Best value mutual funds to invest in 2023 – The Economic Times.
