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Predictably, small cap funds topped the return chart. The small cap category gave an average return of around 24.13% in 2023. The category has around 24 schemes and Mahindra Manulife Small Cap Fund offered the highest return of around 34.65%, followed by Union Small Cap Fund which offered 30.83%.
According to the firm, if an investor started a monthly SIP of Rs 10,000 in HDFC large and midcap funds five years ago, then today they would have Rs 10.6 lakh.
These actively-managed large & mid cap schemes are benchmarked against NIFTY LargeMidcap 250 - TRI and S&P BSE 250 LargeMidCap Index - TRI. NIFTY LargeMidcap 250 - TRI and S&P BSE 250 LargeMidCap Index - TRI gave 18.23% and 11.83% respectively in 2023.
These actively-managed schemes are benchmarked against Nifty Midcap 100 - TRI, Nifty Midcap 150 - TRI, and S&P BSE 150 MidCap - TRI and these benchmarks offered an average return of 29.36%, 28.07%, and 26.29% respectively.
The contra fund category gave an average return of around 29.19% in the three year horizon. The category has three schemes. They have offered returns ranging between 23.18%-38.87%. SBI Contra Fund offered the highest return of around 38.87% in the three year horizon.