The performance of the indices remained muted in 22-23 due to the geo-political tensions, interest rate hikes by the central banks, and the slowdown in the economy. These factors also affected the performance of different equity mutual fund categories.
Contra Funds offered the highest average return of around 5.01%, followed by the Value Fund category. The Contra Fund category also offered double-digit returns in the last two financial years. The category offered 90.28% return in the financial year that ended on March 31, 2021 and around 21.21% return in the financial year that ended on March 31,2022.
Value fund category offered around 1.75% return in the financial year that ended on March 31,2023 , marginally higher than the average returns offered by the category benchmark. In the financial year that ended in March 2021, the category offered 85.80% and in the next financial year, it offered 21.58%.
The small cap fund category offered 0.35% returns, compared to the negative average return of 7.13% by the benchmark. In the financial year that ended on March 31,2021, the category offered 106.58% return followed by 35.70% return in 2022.
The last category in the list to offer positive return in the financial year mid cap category. The category offered 0.12% returns, compared to an average return of 1.21% by the benchmark. The category has managed to offer double-digit returns in the last two financial years. The category offered 89.61% returns in the financial year that ended in March 31,2021 and 23.29% in the financial year 2022. Multi cap category lost around 0.27% in the financial year that ended recently. In the financial year that ended in March 31,2022, the category managed to outperform the average returns offered by benchmark. The category offered 26.06% compared to average return of 23.65% by the benchmark.
The large & mid cap category lost around 1.08% in the financial year 2023. The category has offered 21.87% return in the financial year that ended in March 31,2022 compared to 21% return offered by benchmark during the same period.
ELSS Funds, considered by the investors for tax saving purposes, lost around 1.27% in the last financial year. The category has offered lower returns, compared to the average returns offered by the benchmark in the last three financial years.
Large cap funds,which helps to manage the volatility better, lost around 1.41% in the last financial year.The category offered 16.52% and 68.52% returns in the last two financial years..
Focused funds lost around 2.24% in the financial year that ended in March 31,2023. In the last two financial years, the category has offered lower returns compared to the average returns by the category benchmarks.
Flexi Cap category which offers the flexibility to the fund managers to invest across market capitalisations based on their outlook, lost the most in the financial year that ended in March 31,2023.The category offered 73.56% in the financial year that ended in March 31,2021. In the financial year that ended in March 31.2022, the category offered average returns in line with the average returns of the benchmarks. The category offered 20.20% returns compared to 20.66% returns by the benchmark.
