Large cap schemes: January-March quarterly performance

Mutual fund advisors always ask investors to look at the performance of their schemes once a year. However, most investors still look at the performance at every available opportunity. That is why ETMutualFunds decided to look at the performance of equity mutual fund categories in every quarter.

The large cap mutual fund category that invests in top 100 companies offered an average return of (4.16%) in the January-March quarter in 2023. The stock market has been in the negative zone since the beginning of 2023. In January to March 2023 quarter, Nifty50 was down by 4.12% and S&P BSE Sensex was down by 3.04%. The large cap schemes are benchmarked against Nifty 100-TRI and S&P BSE 100-TRI. During the quarter that ended in March 2023, Nifty 100-TRI and S&P BSE 100-TRI lost 5.78% and 4.26% respectively.

There were 31 schemes in the large cap category. All the schemes in the category were in the negative territory. Top losers in the category lost around 8%. Taurus Largecap Equity Fund lost the most around 8.61% in the quarter that ended in March 2023. Quant Large Cap Fund also lost around 8.23% in the quarter that ended in March 2023.
Around 10 large cap schemes lost around 4%. Edelweiss Large Cap Fund lost the lowest of around 2.01% in the quarter that ended in March 2023.

ETMutualFunds compared the performance of large cap schemes for the quarter that ended in March 2023 with their respective benchmarks. Out of 31 schemes, 25 schemes managed to beat their benchmarks. Note, we only considered actively – managed schemes for this review.

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We considered the regular and growth options. The quarterly returns for the quarter that ended in March 2023 were calculated from January 2, 2023 to March 31, 2023.

As per recent AMFI data, the large cap category in the quarter that ended in March 2023, received a total inflow of Rs 1,981.14 crore, with the highest inflow in March of Rs 911.29 crore. The net asset under management for the large cap category as on March 31, 2023 was Rs 2.35 lakh crore.

Large cap schemes are considered ideal for conservative investors. These schemes fare better in a volatile market. The large cap category managed to limit the downside volatility in the quarter that ended in March 2023 as compared to Nifty50 and underperformed compared to S&P BSE Sensex.

If you are looking for recommendations, see : best large cap schemes to invest in 2023

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