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How your mutual fund schemes have fared in the past 5 years

Large-cap funds fared poorly over the past 1 and 3 years. Small- and multi-cap funds boast nearly 100% outperformance relative to benchmarks over past 5 years.

, ET Bureau|
Updated: Jan 07, 2019, 11.45 AM IST
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ET Online
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Small- & multi-cap funds boast nearly 100% outperformance relative to benchmark over past 5 years in terms of value.
In this story, ET Wealth analyses the return profile of equity mutual funds across different time periods for all categories and fund houses, in 2018.

Large-cap funds fared poorly over the past 1 and 3 years. Over 5 years, only 40% of large-cap funds have outperformed, but these comprise a healthy 84% of the category AUM. Small- & multi-cap funds boast nearly 100% outperformance relative to benchmark over past 5 years in terms of value.


The prize for beating the benchmark went to…

% of schemes outperforming benchmark
Category 1 year return 3 year returns 5 year returns
Small cap 73% 64% 91%
Mid cap 61% 39% 78%
Multi cap 13% 21% 75%
ELSS 8% 15% 73%
Large & mid cap 12% 24% 65%
Large cap 7% 0% 41%

% of AUM outperforming benchmark
Category 1 year 3 years 5 years
Small Cap 79% 78% 99%
Multi Cap 4% 40% 98%
Mid Cap 84% 56% 88%
ELSS 39% 3% 87%
Large Cap 3% 0% 84%
Large & Mid Cap 6% 25% 71%
Note: The study includes open-ended diversified equity schemes with a minimum 5 year track record and excludes sector & thematic funds. Data as on 28 Dec 2018 | Compiled by ETIG Database | Source: Ace MF

Percentage of AUM outperforming benchmark in ELSS and mid-cap funds over past 1 year is much higher compared to number of schemes outperforming. This means some of the bigger funds have outperformed.

The healthiest performers over the past 5 years were…
Fund house No. of outperformers Total schemes % of schemes outperforming
Aditya Birla Sun Life AMC 6 6 100%
Axis AMC 5 5 100%
Invesco AMC 5 5 100%
Kotak Mahindra AMC 5 5 100%
SBI AMC 4 4 100%
Franklin Templeton AMC 6 7 86%
DSP AMC 5 6 83%
L&T AMC 5 6 83%
These AMCs have shown the ability to outperform across different scheme mandates over the long-term.

Some fund houses delivered outperformance in a large chunk of their assets.
Fund house AUM outperforming (Rs crore) Total AUM (Rs crore) % of AUM outperforming
Edelweiss AMC 1,270 1,355 94%
ICICI Prudential AMC 45,496 49,236 92%
L&T AMC 18,580 19,014 98%
Tata AMC 6,948 7,698 90%
*The above list includes only fund houses with four or more diversified equity schemes with minimum track record of 5 years. Performance pertains to past 5 years.
These are apart from the AMCs that have exhibited 100% outperformance.

Schemes that exhibited higher consistency
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The schemes outperformed in at least four out of past five calendar years and across past three and five-year time periods.

The highest alpha generators were…
ELSS AUM (Rs crore) 5 Year CAGR (%) Alpha (%)
Quant Tax Plan 8 21.3 8.4
Axis Long Term Equity 17,626 20.0 5.4
IDBI Equity Advantage 627 18.6 4.0
Large Cap
Reliance Large Cap 11,410 17.3 2.8
SBI BlueChip 20,287 15.9 2.3
Aditya Birla SL Frontline Equity 20,884 14.8 1.9
Large & Mid Cap
Canara Rob Emerg Equities 3,937 25.8 11.3
Mirae Asset Emerging Bluechip 6,130 27.3 9.7
Principal Emerging Bluechip 2,021 23.1 5.6

Midcap
L&T Midcap 3,438 24.3 5.6
Kotak Emerging Equity Scheme 3,314 23.0 4.4
Edelweiss Mid Cap 787 21.5 2.8
Small Cap
SBI Small Cap 1,281 30.0 11.5
Reliance Small Cap 7,227 26.7 8.2
Axis Small Cap 358 21.5 6.6
Multi Cap
Quant Active 7 20.4 7.1
Kotak Standard Multicap 21,369 18.8 4.6
Aditya Birla SL Equity 10,092 19.0 4.4
These schemes have generated highest outperformance relative to benchmark index over past 5 years.
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