ETMutualFunds also looked at how the assets under management of the equity mutual fund categories moved during the year.
The dividend yield fund category witnessed the highest growth in asset base in 2023. The asset under management for the dividend yield category increased by 95.07% from Rs 10,251.98 crore in January to Rs 19,998.33 crore in November. According to latest Amfi data, the category has the smallest asset base under the equity category.
Small cap category witnessed an increase in asset base by 68.21% in 2023 from Rs 1.30 lakh crore in January to Rs 2.20 lakh crore in November. The multi cap category saw an increase of 55.91% in assets under management. The asset base for the multi cap category was at Rs 66,099.74 crore in January and it grew to Rs 1.03 lakh crore in November.
The mid cap category witnessed an increase of 44.36% in assets under management from Rs 1.83 lakh crore in January to Rs 2.64 lakh crore in November, making it the third largest asset base under equity category.
The sectoral/thematic fund category witnessed an increase of 41.38% in assets under management. The asset under management was at Rs 1.67 lakh crore in January and it now stands at Rs 2.37 lakh crore.
Value/contra fund category saw an increase of 38.55% in asset base in 2023. The asset under management for the value/contra fund category was at Rs 90,344.90 crore in January. The AUM was Rs 1.25 lakh crore in November.The large & mid cap category saw an increase of 37.38% in asset base.
The flexi cap and ELSS categories witnessed an increase of 26.71% and 24.39% respectively in assets under management. Focused fund category recorded an increase of 18.35% and the large cap category witnessed an increase of 16.19% in assets under management.
Note, the above exercise is not a recommendation. The purpose of the exercise was just to find how the asset under management of equity categories moved in 2023. One should not make investment or redemption decisions based on the above exercise.
One should always consider investment horizon, risk appetite, and goal before choosing a mutual fund scheme for investment.
