These actively-managed flexi cap schemes are benchmarked against Nifty 500-TRI and S&P BSE 500-TRI which offered 12.79% and 12.61% respectively.
Top five schemes by AUM or assets
Parag Parikh Flexi Cap Fund, the largest scheme in the category based on assets managed, gave 22.20% in 2023 this year, beating its benchmark (NIFTY 500 – TRI). The scheme manages total assets worth Rs 42,784.56 crore. HDFC Flexi Cap Fund, another large scheme, gave 15.25% in 2023 and managed to beat its benchmark (Nifty 500-TRI). The benchmark gave 12.79% in the same time period.
Some other large schemes in the flexi cap category based on assets managed such as Kotak Flexicap Fund, UTI Flexi Cap Fund, and SBI Flexicap Fund failed to beat their respective benchmarks.
JM Flexicap Fund, the topper in the category, gave 23.30% in 2023 so far. DSP Flexi Cap Fund gave 19.84%, followed by Mahindra Manulife Flexi Cap Fund which gave 19.71%. Shriram Flexi Cap Fund gave the lowest return of 9.33%.
As said earlier, there are around 32 actively-managed schemes in the flexi cap category. Around 30 schemes gave double-digit returns and only two schemes gave single digit-returns in 2023.
Quarterly performance
ETMutualFunds also looked at the performance of flexi cap funds during July-September quarter in 2023. There were 35 schemes in the category. Around 25 schemes managed to beat their respective benchmarks and 10 schemes failed to beat their respective benchmarks. Only two schemes – Bank of India Flexi Cap Fund and Taurus Flexi Cap Fund offered double digit returns.
The flexi cap funds gave an average return of 6.35% during July-September quarter in 2023.
Bank of India Flexi Cap Fund, the topper in the category, delivered 12.04% during July-September quarter. Taurus Flexi Cap Fund gave 10.72%, followed by JM Flexicap Fund which gave 9.51%. PGIM India Flexi Cap Fund gave the lowest return of around 1.71%.
Note, the above exercise is not a recommendation. The main purpose of this exercise was just to find out how flexi cap schemes performed in 2023 so far. One should not make investment or redemption decisions based on the above exercise. One should always choose schemes based on risk appetite, investment horizon and goal. Past performance does not guarantee future returns.
We considered the regular and growth options.
Flexi cap schemes offer the fund managers the freedom to invest across market capitalisations and sectors/themes. It means the fund managers can invest anywhere based on his outlook on the market. These schemes are typically recommended to moderate investors with an investment horizon of five to seven years.
If you are looking for recommendations, see : Best flexi cap mutual funds to invest in 2023
