Examining the Performance of Select Multi-Cap Funds in India
Keywords:
Mutual Fund, Multi-Cap Fund, Portfolio Diversification, Professional ManagementAbstract
Mutual Fund offers a vast platform to all investors for active portfolio diversification through professional management of savings and investment in numerous securities with heterogenic risk-return profiles. The Assets under Management of Indian Mutual Fund industry has increased drastically from only Rs.25 Crores in 1964 to Rs.27.26 lakh Crores in December 2019. Multi-Cap Funds invest in equity and equity-related instruments, which is 65% of the total assets; that invest in Large-Cap, Mid-Cap and Small-Cap stocks. This study focuses on how the Open-ended Multi-Cap Funds has performed during the last seven years (2013-2019); based on various parameters; selecting ten schemes having net assets above Rs.5,000 Crores. It has been observed that Kotak Standard Multi-cap Fund and Axis Focused 25 Fund have outperformed the benchmark (S&P BSE 500) for return (CAGR) and risk-adjusted return respectively. Franklin India Equity Fund has outperformed the benchmark in terms of total risk. Further, Franklin India Focused Equity Fund, Nippon India Multi-Cap Fund and HDFC Equity Fund have remained aggressive during the entire period of study.
References
Bansal, S., and Kumar, S. (2012), Evaluation of Risk-Adjusted Performance of Mutual Funds in India. International Journal of Research in Economics & Social Sciences, 2 (2), 215-229.
Bialkowski, J. and Otten, R. (2011), Emerging market mutual fund performance: Evidence for Poland. North American Journal of Economics and Finance, Elsevier, 118-130.
Chisti, K.A., and Rahman, A. (2018). Performance Evaluation of Equity Linked Saving Schemes: An Evidence from India. Global Journal of Management and Business Research, 18 (6), 45-51.
Goyal. (2015). Performance Evaluation of Top 10 Mutual Funds in India. Indian Journal of Commerce and Management Studies. 6 (1), 51-55.
Kamboj, D., and Jagotra, S. (2018). An Empirical Study on the Performance of Select Multicap Equity Mutual Funds in India. MUDRA Journal of Finance and Accounting, 4 (02).
Karrupasamy, R. & Vanaja, V. (2014). Performance Evaluation of Selected Category of Public Sector Mutual Fund Schemes in India. International Research Journal of Business and Management, 1-9.
Kaushik, A. (2019). Performance Evaluation of Mid-Cap Retail Equity Mutual Funds. International Journal of Finance and Banking Studies, 8 (2). Retrieved on 07.02.2020 from http://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/301.
Rathnamani, V. (2013). Investor’s Preferences towards Mutual Fund Industry in Trichy. IOSR Journal of Business and Management, 6 (6), 48-55.
Raju, J.K., Manjunath, B.R., and Rehaman, M. (2018). A Study on Performance Evaluation of Gold ETFs in India. IJEMR, 8(2), 1-15. Retrieved on 22.02.2020 from http://ijemr.in/wp-content/uploads/2018/02/A-Study-on-Performance-Evaluation-of-Gold-ETFs-in-India.pdf.
Sarish and Jain, A. (2012). Analysis regarding Mutual Funds awareness and opinion. VSRD-International Journal of Business & Management Research, 1(10), 1-7.
Shriprakashsoni, Deepalibankapue and Bhutada, M. (2015). Comparative Analysis of Mutual Fund Schemes available at Kotak Mutual Fund and HDFC Mutual Fund. International Journal of Research in Finance and Marketing, 5(4), 69-90.
Tej, S. and Priyanka, R. (2014). An Analysis of gap between the Public and Private Sectore Mutual Funds in India. Prestige e-Journal of Management and Research, 1(1), 57-68.
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Research Articles in 'Journal of Academic Advancement' are Open Access articles published under the Creative Commons CC BY License Creative Commons Attribution 4.0 International License http://creativecommons.org/licenses/by/4.0/. This license allows you to share – copy and redistribute the material in any medium or format. Adapt – remix, transform, and build upon the material for any purpose, even commercially.
