Best Mutual Fund Returns for 2023

Updated on October 2, 2024 , 833 views

Mutual Fund is an investment avenue that is formed when numerous individuals sharing the same idea come together and invest their money. The Mutual Fund scheme then invests in various financial instruments on behalf of these individuals and earns profit. There are various categories of Mutual Fund schemes that are designed to cater the diverse requirements of the individuals. The broad categories of Mutual fund schemes Equity Funds, Debt fund, and Hybrid Fund. In 2023, the performance of all scheme categories was good. The Mutual Funds were able to earn commensurate returns for their investors. So, let us look at the performance of these schemes for 2023.

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Top Performing Equity Funds based on 2023 Performance

Fund	NAV	Net Assets (Cr)	2023 (%)	2022 (%)	2021 (%)	2020 (%)	2019 (%)
Nippon India Power and Infra Fund Growth	₹366.531 ↓ -4.04	₹7,638	58	10.9	48.9	10.8	-2.9
HDFC Infrastructure Fund Growth	₹48.733 ↓ -0.43	₹2,568	55.4	19.3	43.2	-7.5	-3.4
Invesco India PSU Equity Fund Growth	₹65.16 ↓ -0.55	₹1,593	54.5	20.5	31.1	6.1	10.1
SBI PSU Fund Growth	₹33.1966 ↓ -0.23	₹4,851	54	29	32.4	-10	6
Franklin India Opportunities Fund Growth	₹251.503 ↓ -2.28	₹5,381	53.6	-1.9	29.7	27.3	5.4
Franklin India Smaller Companies Fund Growth	₹182.165 ↓ -1.05	₹14,423	52.1	3.6	56.4	18.7	-5
Franklin India Technology Fund Growth	₹541.509 ↓ -6.28	₹1,892	51.1	-22.3	39	56.8	12.4
Invesco India Infrastructure Fund Growth	₹66.52 ↓ -0.62	₹1,660	51.1	2.3	55.4	16.2	6.1
Franklin Build India Fund Growth	₹143.247 ↓ -1.10	₹2,904	51.1	11.2	45.9	5.4	6
L&T Infrastructure Fund Growth	₹50.014 ↓ -0.50	₹2,848	50.7	3.1	56.3	1.6	-3.1
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 4 Oct 24

Top Performing Debt Funds based on 2023 Performance

Fund	NAV	Net Assets (Cr)	2023 (%)	2022 (%)	2021 (%)	Debt Yield (YTM)	Mod. Duration	Eff. Maturity
DSP BlackRock Credit Risk Fund Growth	₹41.2541 ↓ -0.04	₹191	15.6	9.3	2.9	8.1%	2Y 7M 2D	3Y 7M 2D
Invesco India Credit Risk Fund Growth	₹1,789.47 ↓ -2.88	₹141	11.6	2.2	2.8	7.59%	2Y 11M 12D	4Y 29D
SBI Credit Risk Fund Growth	₹42.8633 ↓ -0.02	₹2,363	8.3	4.2	5	8.45%	2Y 14D	2Y 8M 16D
ICICI Prudential Gilt Fund Growth	₹96.6127 ↓ -0.12	₹6,511	8.3	3.7	3.8	7.12%	3Y 10M 13D	7Y 2M 26D
Nippon India Credit Risk Fund Growth	₹32.7506 ↓ 0.00	₹1,028	7.9	3.9	13.5	8.84%	1Y 10M 6D	2Y 5M 5D
DSP BlackRock Strategic Bond Fund Growth	₹3,221.05 ↓ -17.22	₹1,503	7.9	1.6	2.4	7.19%	11Y 4M 6D	28Y 8M 12D
ICICI Prudential Floating Interest Fund Growth	₹400.626 ↓ -0.01	₹8,963	7.7	4.3	3.8	8.18%	11M 8D	6Y 3M 4D
ICICI Prudential Constant Maturity Gilt Fund Growth	₹23.0485 ↓ -0.08	₹2,387	7.7	1.2	2.8	7%	6Y 8M 19D	9Y 6M 11D
DSP BlackRock 10Y G-Sec Fund Growth	₹20.463 ↓ -0.07	₹55	7.7	0.1	0.7	6.98%	6Y 7M 24D	9Y 6M
ICICI Prudential Bond Fund Growth	₹37.8044 ↓ -0.06	₹2,952	7.7	3.1	2.9	7.36%	5Y 1M 6D	8Y 4M 6D
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 4 Oct 24

Top Performing Hybrid Funds based on 2023 Performance

Fund	NAV	Net Assets (Cr)	2023 (%)	2022 (%)	2021 (%)	2020 (%)	2019 (%)
JM Equity Hybrid Fund Growth	₹126.707 ↓ -0.69	₹578	33.8	8.1	22.9	30.5	-8.1
BOI AXA Mid and Small Cap Equity and Debt Fund Growth	₹38.63 ↓ -0.11	₹978	33.7	-4.8	54.5	31.1	-4.7
HDFC Balanced Advantage Fund Growth	₹507.545 ↓ -2.10	₹95,391	31.3	18.8	26.4	7.6	6.9
UTI Multi Asset Fund Growth	₹73.2192 ↓ -0.26	₹3,460	29.1	4.4	11.8	13.1	3.9
ICICI Prudential Equity and Debt Fund Growth	₹381.24 ↓ -1.93	₹40,095	28.2	11.7	41.7	9	9.3
UTI Hybrid Equity Fund Growth	₹402.765 ↓ -2.77	₹6,189	25.5	5.6	30.5	13.2	2.5
Edelweiss Multi Asset Allocation Fund Growth	₹62.56 ↓ -0.39	₹2,077	25.4	5.3	27.1	12.7	10.4
DSP BlackRock Equity and Bond Fund Growth	₹348.295 ↓ -3.26	₹10,323	25.3	-2.7	24.2	17	14.2
SBI Multi Asset Allocation Fund Growth	₹56.6281 ↑ 0.01	₹6,064	24.4	6	13	14.2	10.6
L&T Hybrid Equity Fund Growth	₹54.9318 ↓ -0.21	₹5,893	24.3	-3.7	23.1	13.6	6.5
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 4 Oct 24

How to Select Best Mutual Funds?

The process of selecting best mutual funds are as follows.

Investment Objective: Individuals do any investment to accomplish a particular objective. Therefore, it is important to decide why the investment is being done. Some of the objectives for which individuals invest in Mutual Funds are purchasing a house, purchasing a vehicle, Retirement planning, planning for marriage, and much more.
Tenure, Expected Returns, & Risk-Appetite: Once you determine the investment objective, the next step is to determine the tenure of the investment along with expected returns and risk-appetite. Individuals should decide the tenure till which they need to invest. Along with tenure, individuals should also check for expected returns and risk-appetite. Determining the three parameters will help you decide the type of scheme that you can choose to invest.
Check Details About Mutual Fund Scheme: After deciding the type of scheme to invest, individuals should understand about the scheme. People should check various aspects of the scheme such as the fund age, its AUM or asset size of the scheme, expense ratio, and fund performance. Along with these parameters, individuals should also check the credentials of the fund manager managing the scheme.
Check the Credentials of Fund House: Apart from assessing the details of Mutual Fund scheme, individuals should also check the credentials of the fund house or the Asset Management Company (AMC). It is because, it is the fund house that is responsible for managing the schemes. As a result, the fund house is also responsible for the performance of the scheme.
Review Your Investments Regularly: Just Investing is not enough. Individuals should not take a back seat after investing in Mutual Funds. They should review their investments regularly and in a timely manner so that they can earn maximum returns on their investments.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.