These eight schemes were from small cap, mid cap, and ELSS categories. Small cap schemes topped the return chart. Around six small cap schemes offered more than 30% in the three-year horizon. One mid cap, and ELSS scheme also offered more than 30% in the same time period.
Quant Small Cap Fund topped the return chart and gave 37.27% in three years. Canara Robeco Small Cap Fund offered 37.09%. Bank of India Small Cap Fund gave 37.05% in the same time period.
Edelweiss Small Cap Fund offered 33.65%. Union Midcap Fund, the only mid cap scheme in the list, gave 33.28%. Union Midcap Fund manages assets of Rs 771.27 crore only.
Bandhan Emerging Businesses Fund, which completed around 3.53 years of existence, offered 32.54% in three years. Tata Small Cap Fund, which completed 4.82 years in the market, gave 32.03% in three years. Quant Tax Plan, the only tax-saving or ELSS fund in the list, offered 30.95%.
There might be some schemes that have offered good or double-digit returns in three years, but they did not make it to the list as we included only the schemes that have offered more than 30 returns in the three-year horizon.
We considered daily rolling returns of all equity schemes for a period of three years. We looked at equity categories, including large cap, mid cap, large & mid cap, small cap, multi cap, flexi cap, focused funds, value, contra, and ELSS funds. We considered regular plans and the growth option for the study. We considered the schemes that have offered more than 30% returns in a three-year horizon.
We calculated daily rolling returns for a three-year period starting from September 5, 2020 to September 5, 2023.
Note, the above exercise is not a recommendation. The purpose of the exercise was to find out those equity schemes that have offered more than 30% in a three-year horizon.
One should not make investment or redemption decisions based on the above exercise. One should always consider their risk profile, investment horizon, and goal before making any investment decision.
If you are looking for recommendation, see:
Best small cap mutual funds to invest in 2023
Best mid cap mutual funds to invest in 2023
Best tax saving mutual funds or ELSS to invest in 2023
