Only two equity schemes offered double-digit returns in three months in 2023

Only two equity schemes have managed to offer double-digit returns in the current year. There are 491 equity schemes in the market. Most of them failed to offer positive returns in this year so far, reflecting the poor sentiment in the stock market. Out of 491 schemes, only 42 schemes offered positive returns in the first three months of the year. Around 40 schemes offered single-digit returns.

ETMutualFunds considered all equity and equity-oriented schemes such as large cap, small cap, multi-cap, flexi cap, mid cap, large & mid cap, aggressive hybrid, arbitrage fund, multi asset allocation, and dynamic asset allocation categories for the study.

Nippon India Taiwan Equity Fund and ICICI Prudential NASDAQ 100 Index Fund, both international funds, have offered around 19.65% and 15.68% returns respectively in the current year. Taiwan Capitalization Weighted Stock Index offered 12.57% returns and Nasdaq-100 offered 16.70% returns in the current year.

Source: ACE MF, Returns as on March 24, 2023

The international fund category offered 5.56% returns in the current year. Two schemes that offered double-digit returns were from two different geographies: Taiwan and US. However, the other US-focused schemes could only manage single-digit returns. ICICI Prudential US Bluechip Equity Fund offered 7.91% and Nippon India US Equity Opportunities Fund offered 3.52% return.

Note, this is just a quarterly review of how equity mutual funds performed. If you are looking for recommendations, follow our monthly updates on various equity categories. Always choose schemes based on your investment objectives and risk appetite.

Source: ACE MF, Returns as on March 24, 2023