The demand for mutual funds in India has seen substantial growth over the past decade, driven by increasing financial awareness, greater access to investment options, and a rising middle class, and 2024 witnessed MFs getting a significant boost from retail investors.
Systematic Investment Plans (SIP) inflows registered a steep jump with investor count going up by nearly 10 million in the first 11 months of the year.
This led to a surge of investments in active equity schemes with Rs 3.5 trillion being poured into these schemes, more than double of what was invested in 2023.
As 2024 draws to a close, ETMutualFunds of Economic Times analyzed the top 10 equity mutual funds of the year and evaluated their performance over the last three calendar years.
The data revealed interesting insights, with the top four funds hailing from Motilal Oswal Mutual Fund.
Motilal Oswal Midcap Fund: Leading the Pack
The Motilal Oswal Midcap Fund emerged as the top-performing equity mutual fund in 2024, delivering an impressive 57.47% return.
Notably, this fund has maintained positive performance over the last three years, with returns of 55.83% in 2021, 10.71% in 2022, and 41.68% in 2023.
Other Motilal Oswal Mutual Funds in the Top 10
Motilal Oswal ELSS Tax Saver Fund: This fund secured a 46.55% return in 2024, continuing its streak of positive returns over the past three years.
Motilal Oswal Flexi Cap Fund: Posting a 46.23% return in 2024, this scheme recorded positive returns in 2021 and 2023 but faced a slight loss of 3% in 2022.
Motilal Oswal Large & Midcap Fund: With a 45.18% return in 2024, this fund has avoided negative returns over the last three years, delivering 40.82% in 2021, 1.66% in 2022, and 38.05% in 2023.
Source: The Economic Times
Top Performers from Invesco Mutual Fund
Invesco India Midcap Fund: Delivered 43.22% in 2024, with consistent positive returns over the last three years.
Invesco India Focused Fund: This fund recorded a 43.21% return in 2024 and had positive returns in 2021 and 2023.
However, it saw a decline of 8.61% in 2022.
Other Notable Funds in the List
Bandhan Small Cap Fund: The fund returned 42.31% in 2024, with exceptional performances in 2021 and 2023 (over 50%) but a 6.13% loss in 2022.
HSBC Midcap Fund: Offered a 39.33% return in 2024, maintaining a positive performance streak for the last three years.
Edelweiss Mid Cap Fund: Recorded a 38.78% return in 2024 with consistent positive returns over the past three years.
LIC MF Small Cap Fund: Delivered 38.59% in 2024, also achieving positive results for the past three years.
Excluded Fund: Motilal Oswal Small Cap Fund
The Motilal Oswal Small Cap Fund, launched in December 2023, was excluded from the analysis.
This fund, however, delivered an impressive 45.77% return in 2024.
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