Bandhan Small Cap Fund, the topper in the list, offered more than 70.06% in 2023. Mahindra Manulife Small Cap Fund gave around 69.78%.
ITI Small Cap Fund offered 65.51%. Nippon India Growth Fund and Franklin India Smaller Companies Fund gave around 63%. HSBC Multi Cap Fund gave 61.16%. Quant Small Cap Fund offered 59.49%. Nippon India Small Cap Fund and JM Value Fund offered around 58%.
These 10 schemes were from mid cap, multi cap, small cap, and value fund categories.
Two schemes from Nippon India Mutual Fund offered more than 58% returns via SIP in 2023.
There were around 247 equity schemes in the market. These 247 equity mutual fund schemes offered XIRR returns ranging between 21.36%-70.06%. A SIP investment of Rs 10,000 made on January 1,2023 would have now grown between Rs 1.19 lakh – Rs 1.56 lakh in 2023.
We considered the large cap, large & mid cap, mid cap, small cap, flexi cap, multi cap, ELSS funds, contra, value, and focused funds for the analysis. We considered regular and growth schemes.
Note, the above exercise is not a recommendation. The purpose of this exercise was to find the returns delivered by equity mutual funds invested via SIP mode in 2023.
One should not make investment or redemption decisions based on one-year SIP performance in 2023. One year is a short period to analyse the performance and choose a mutual fund scheme for investment as SIPs are meant for long-term to earn higher returns.
