म्युच्युअल फंड वि एफडी (फिक्स्ड डिपॉझिट)

Updated on September 13, 2026 , 14238 views

म्युच्युअल फंड विएफडी? पैसे वाचवण्याचा विचार करताना, बहुतेक लोक प्रथम गोष्ट जी करण्याचा विचार करतातगुंतवणूक मुदत ठेवींमध्ये (FDs). हे सहसा समजण्यास सोपे असल्यामुळे आणि पिढ्यानपिढ्या केले जात आहे. पण ही सर्वात योग्य गुंतवणूक आहे का? आणि तो सर्वोत्तम परतावा देतो का? किंवा म्युच्युअल फंड गुंतवणुकीमुळे उद्देश अधिक चांगल्या प्रकारे पूर्ण होऊ शकतो? या प्रश्नांची उत्तरे जाणून घेण्यासाठी खाली वाचा!

एफडी किंवा मुदत ठेव

फिक्स्ड डिपॉझिट, ज्याला FD म्हणून देखील ओळखले जाते ही एक लोकप्रिय आहेबँक दीर्घकालीन आणि अल्पकालीन गुंतवणुकीसाठी योग्य गुंतवणूक पर्याय. FD परतावा निश्चित केला जातो कारण FD व्याज दर भारत सरकारने पूर्व-निर्धारित केला आहे. मुदत ठेवींवरील व्याजदर निश्चित केला जात आहे, त्याचा कोणताही परिणाम होत नाहीमहागाई या गुंतवणुकीवर.

तसेच, एफडी परतावा गुंतवणूकदारांच्या हातात करपात्र असतो. तथापि, एफडी गुंतवणूक अंतर्गत कर कपातीसाठी जबाबदार आहेतकलम 80C च्याआयकर कायदा.

म्युच्युअल फंड

म्युच्युअल फंड हे तीन प्रकारचे असतात, डेट, इक्विटी आणि बॅलन्स्डम्युच्युअल फंड.डेट म्युच्युअल फंड ते आहेत जे बहुतेक मालमत्ता सरकारमध्ये गुंतवतातबंध, कॉर्पोरेट बाँड्स आणि बाकीचे इक्विटी मार्केट्समध्ये. याउलट, इक्विटी म्युच्युअल फंड त्याच्या 65% पेक्षा जास्त मालमत्ता इक्विटी मार्केटमध्ये गुंतवतात आणि उर्वरित सरकारी बाँड्स, कॉर्पोरेट बाँड्स आणि सिक्युरिटीजमध्ये गुंतवतात. तर बॅलन्स्ड म्युच्युअल फंड असे आहेत जे अंशतः कर्जामध्ये आणि अंशतः गुंतवणूक करतातइक्विटी फंड. म्युच्युअल फंड हे चलनवाढ रोखण्याचे साधन आहे, त्यामुळे ते अधिक करक्षम आहे आणि दीर्घकालीन गुंतवणुकीवर चांगले परतावा देण्याची अपेक्षा आहे.

दीर्घकालीन गुंतवणूक कोणती चांगली आहे?

आता आपल्याला माहित आहे की म्युच्युअल फंड आणि मुदत ठेवी (एफडी) दोन्ही आहेतकर बचत गुंतवणूक, उद्भवणारा प्रश्न असा आहे - कोठे गुंतवणूक करावी? जरी हा एक व्यक्तिपरक प्रश्न आहे आणि त्याचे उत्तर व्यक्तीपरत्वे बदलू शकते, खाली विविध पॅरामीटर्सवर आधारित तुलना नमूद केली आहे जी तुम्हाला अधिक चांगली निवड करण्यात मदत करू शकते.

1. म्युच्युअल फंड परतावा आणि एफडी परतावा

मुदत ठेवीवरील परतावा पूर्व-निर्दिष्ट असतो आणि संपूर्ण कार्यकाळात बदलत नाही. म्युच्युअल फंड, आर्थिकशी जोडलेले असतानाबाजार, दीर्घकालीन गुंतवणुकीवर चांगला परतावा देतात.

2. FD व्याज दर आणि म्युच्युअल फंड परतावा

FD वरील व्याज दर FD च्या प्रकारावर किंवा FD च्या कालावधीनुसार निश्चित केले जातात, त्यामुळे कोणीही मुदत ठेवींवर जास्त व्याजदराची अपेक्षा करू शकत नाही. दुसरीकडे, म्युच्युअल फंडांवरील परतावा बदलतो कारण विविध प्रकारचे फंड अस्थिर परतावा देतात. जर बाजार उंचावर गेला तर परतावा वाढतो आणि उलट.

3. जोखीम घटक

मुदत ठेवींना कोणताही धोका नसतो कारण परतावा पूर्वनिर्धारित असतो. तसेच, बँकेचा भंडाफोड झाल्यास सर्व बँक खात्यांचा INR 1 लाखांपर्यंत विमा उतरवला जातो. दुसरीकडे, म्युच्युअल फंड त्यांच्या मालमत्तेची आर्थिक बाजारपेठेत गुंतवणूक करत असल्याने त्यांना जास्त जोखीम असते. इक्विटी म्युच्युअल फंड, ज्याची बहुतेक मालमत्ता इक्विटी मार्केटमध्ये गुंतवलेली असते, त्यात जास्त जोखीम असते. डेट म्युच्युअल फंडात गुंतवणूक करणे कमी जोखमीचे असते, कारण या फंडाचा फार कमी भाग शेअर बाजारात गुंतवला जातो.

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4. महागाईचा प्रभाव

व्याजदर पूर्वनिर्धारित असल्याने मुदत ठेवींवर महागाईचा कोणताही परिणाम होत नाही. तर, म्युच्युअल फंडांसाठी, परतावा महागाई-समायोजित असतो ज्यामुळे चांगले परतावा मिळविण्याची क्षमता वाढते.

5. भांडवली नफा

नाही आहेतभांडवल एफडीच्या बाबतीत लाभ संभवतो. म्युच्युअल फंडांसाठी,भांडवली नफा होल्डिंग कालावधीवर अवलंबून आहे. वेगवेगळे म्युच्युअल फंड वेगवेगळे भांडवली नफा देतात.

6. तरलता

मुदत ठेवी आहेतइलिक्विड, गुंतवलेली रक्कम ठराविक वेळेसाठी लॉक केलेली असते. त्या कालावधीपूर्वी पैसे काढल्यास, विशिष्ट दंड वजा केला जातो. म्युच्युअल फंड तरल असतात कारण ते फारसे काही न करता कमी कालावधीत विकले जाऊ शकतातघसारा निधी मूल्य मध्ये. तथापि, काही म्युच्युअल फंडांच्या विक्रीवर लागू होणारे एक्झिट लोड तपासणे महत्त्वाचे आहे.

7. कर आकारणी

मुदत ठेवीवरील व्याजावर व्यक्तीच्या कर स्लॅबनुसार कर आकारला जातो. दुसरीकडे,म्युच्युअल फंड कर आकारणी मुख्यतः होल्डिंग कालावधीवर अवलंबून असते. शॉर्ट टर्म कॅपिटल गेन (STCG) आणि लाँग टर्म कॅपिटल गेन्स (LTCG) या दोन्हींवर वेगळ्या पद्धतीने कर आकारला जातो.

8. कर बचत FD च्या V/S इक्विटी लिंक्ड सेव्हिंग स्कीम्स (ELSS)

आयटी कायद्याच्या कलम 80c अंतर्गत कर बचतीच्या उद्देशाने एफडीचा विचार करणाऱ्या गुंतवणूकदारांसाठी. (५ वर्ष लॉकिन)ELSS म्युच्युअल फंड हे चांगले पर्याय आहेत कारण ते 3 वर्षांचे लॉक इन आहेत आणि ऐतिहासिकदृष्ट्या चांगले परतावा देऊ करतात.

चांगली गुंतवणूक योजना कोणती आहे?

चला थोडक्यात पाहू:

पॅरामीटर	म्युच्युअल फंड	मुदत ठेव
परताव्याचा दर	खात्रीशीर परतावे नाहीत	निश्चित परतावा
चलनवाढ समायोजित परतावा	उच्च चलनवाढ समायोजित परताव्यासाठी संभाव्य	सहसा कमी चलनवाढ समायोजित परतावा
धोका	मध्यम ते उच्च धोका	कमी धोका
तरलता	द्रव	द्रव
मुदतपूर्व पैसे काढणे	एक्झिट लोड/नो लोडसह परवानगी आहे	दंडासह परवानगी
गुंतवणुकीची किंमत	व्यवस्थापन खर्च/खर्चाचे प्रमाण	कोणतीही किंमत नाही
कर स्थिती	अनुकूल कर स्थिती	टॅक्स स्लॅब नुसार

2022 मध्ये गुंतवणूक करण्यासाठी सर्वोत्तम म्युच्युअल फंड

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2024 (%)
DSP World Gold Fund Growth	₹63.9982 ↑ 1.29	₹1,441	27.6	0.6	58.4	58.6	30.4	167.1
SBI PSU Fund Growth	₹33.0022 ↓ -0.81	₹6,678	-5.4	-4.3	4.2	17.9	21.3	11.3
DSP World Mining Fund Growth	₹34.9068 ↑ 0.41	₹168	11.9	9.3	66.9	31.2	20.3	79
ICICI Prudential Infrastructure Fund Growth	₹195.97 ↓ -4.91	₹8,523	-2.5	7.6	0.4	15.8	20	6.7
Motilal Oswal Midcap 30 Fund Growth	₹102.066 ↓ -2.68	₹40,036	9.3	23.9	-2.7	16.6	19.7	-12.1
DSP India T.I.G.E.R Fund Growth	₹350.678 ↓ -8.88	₹6,325	-1.3	14.3	10.9	18	19.4	-2.5
LIC MF Infrastructure Fund Growth	₹52.9699 ↓ -1.36	₹1,145	-1.7	13	5.8	21	19.3	-3.7
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 11 Sep 26

Research Highlights & Commentary of 7 Funds showcased

Commentary	DSP World Gold Fund	SBI PSU Fund	DSP World Mining Fund	ICICI Prudential Infrastructure Fund	Motilal Oswal Midcap 30 Fund	DSP India T.I.G.E.R Fund	LIC MF Infrastructure Fund
Point 1	Lower mid AUM (₹1,441 Cr).	Upper mid AUM (₹6,678 Cr).	Bottom quartile AUM (₹168 Cr).	Upper mid AUM (₹8,523 Cr).	Highest AUM (₹40,036 Cr).	Lower mid AUM (₹6,325 Cr).	Bottom quartile AUM (₹1,145 Cr).
Point 2	Established history (19+ yrs).	Established history (16+ yrs).	Established history (16+ yrs).	Established history (21+ yrs).	Established history (12+ yrs).	Oldest track record among peers (22 yrs).	Established history (18+ yrs).
Point 3	Rating: 3★ (upper mid).	Rating: 2★ (bottom quartile).	Rating: 3★ (upper mid).	Rating: 3★ (lower mid).	Rating: 3★ (lower mid).	Top rated.	Not Rated.
Point 4	Risk profile: High.	Risk profile: High.	Risk profile: High.	Risk profile: High.	Risk profile: Moderately High.	Risk profile: High.	Risk profile: High.
Point 5	5Y return: 30.37% (top quartile).	5Y return: 21.25% (upper mid).	5Y return: 20.31% (upper mid).	5Y return: 19.95% (lower mid).	5Y return: 19.73% (lower mid).	5Y return: 19.39% (bottom quartile).	5Y return: 19.25% (bottom quartile).
Point 6	3Y return: 58.62% (top quartile).	3Y return: 17.92% (lower mid).	3Y return: 31.19% (upper mid).	3Y return: 15.75% (bottom quartile).	3Y return: 16.59% (bottom quartile).	3Y return: 17.96% (lower mid).	3Y return: 20.99% (upper mid).
Point 7	1Y return: 58.38% (upper mid).	1Y return: 4.19% (lower mid).	1Y return: 66.88% (top quartile).	1Y return: 0.42% (bottom quartile).	1Y return: -2.66% (bottom quartile).	1Y return: 10.93% (upper mid).	1Y return: 5.80% (lower mid).
Point 8	Alpha: 2.59 (upper mid).	Alpha: -0.89 (bottom quartile).	Alpha: 0.00 (upper mid).	Alpha: 0.00 (lower mid).	Alpha: -9.71 (bottom quartile).	Alpha: 0.00 (lower mid).	Alpha: 5.37 (top quartile).
Point 9	Sharpe: 1.14 (upper mid).	Sharpe: 0.28 (lower mid).	Sharpe: 1.67 (top quartile).	Sharpe: 0.04 (bottom quartile).	Sharpe: -0.24 (bottom quartile).	Sharpe: 0.52 (upper mid).	Sharpe: 0.28 (lower mid).
Point 10	Information ratio: -0.56 (bottom quartile).	Information ratio: -0.34 (bottom quartile).	Information ratio: 0.00 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.06 (upper mid).	Information ratio: 0.00 (lower mid).	Information ratio: 0.56 (top quartile).

DSP World Gold Fund

Lower mid AUM (₹1,441 Cr).
Established history (19+ yrs).
Rating: 3★ (upper mid).
Risk profile: High.
5Y return: 30.37% (top quartile).
3Y return: 58.62% (top quartile).
1Y return: 58.38% (upper mid).
Alpha: 2.59 (upper mid).
Sharpe: 1.14 (upper mid).
Information ratio: -0.56 (bottom quartile).

SBI PSU Fund

Upper mid AUM (₹6,678 Cr).
Established history (16+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: High.
5Y return: 21.25% (upper mid).
3Y return: 17.92% (lower mid).
1Y return: 4.19% (lower mid).
Alpha: -0.89 (bottom quartile).
Sharpe: 0.28 (lower mid).
Information ratio: -0.34 (bottom quartile).

DSP World Mining Fund

Bottom quartile AUM (₹168 Cr).
Established history (16+ yrs).
Rating: 3★ (upper mid).
Risk profile: High.
5Y return: 20.31% (upper mid).
3Y return: 31.19% (upper mid).
1Y return: 66.88% (top quartile).
Alpha: 0.00 (upper mid).
Sharpe: 1.67 (top quartile).
Information ratio: 0.00 (upper mid).

ICICI Prudential Infrastructure Fund

Upper mid AUM (₹8,523 Cr).
Established history (21+ yrs).
Rating: 3★ (lower mid).
Risk profile: High.
5Y return: 19.95% (lower mid).
3Y return: 15.75% (bottom quartile).
1Y return: 0.42% (bottom quartile).
Alpha: 0.00 (lower mid).
Sharpe: 0.04 (bottom quartile).
Information ratio: 0.00 (lower mid).

Motilal Oswal Midcap 30 Fund

Highest AUM (₹40,036 Cr).
Established history (12+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately High.
5Y return: 19.73% (lower mid).
3Y return: 16.59% (bottom quartile).
1Y return: -2.66% (bottom quartile).
Alpha: -9.71 (bottom quartile).
Sharpe: -0.24 (bottom quartile).
Information ratio: 0.06 (upper mid).

DSP India T.I.G.E.R Fund

Lower mid AUM (₹6,325 Cr).
Oldest track record among peers (22 yrs).
Top rated.
Risk profile: High.
5Y return: 19.39% (bottom quartile).
3Y return: 17.96% (lower mid).
1Y return: 10.93% (upper mid).
Alpha: 0.00 (lower mid).
Sharpe: 0.52 (upper mid).
Information ratio: 0.00 (lower mid).

LIC MF Infrastructure Fund

Bottom quartile AUM (₹1,145 Cr).
Established history (18+ yrs).
Not Rated.
Risk profile: High.
5Y return: 19.25% (bottom quartile).
3Y return: 20.99% (upper mid).
1Y return: 5.80% (lower mid).
Alpha: 5.37 (top quartile).
Sharpe: 0.28 (lower mid).
Information ratio: 0.56 (top quartile).

*खाली ७ ची यादी आहेसर्वोत्तम म्युच्युअल फंड पेक्षा जास्त निव्वळ मालमत्ता/एयूएम असणे100 कोटी. 5 वर्षावर क्रमवारी लावलीCAGR/वार्षिक परतावा

1. DSP World Gold Fund

"The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in units of MLIIF - WGF. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities and/or units of money market/liquid schemes of DSP Merrill Lynch Mutual Fund, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized."

Research Highlights for DSP World Gold Fund

Lower mid AUM (₹1,441 Cr).
Established history (19+ yrs).
Rating: 3★ (upper mid).
Risk profile: High.
5Y return: 30.37% (top quartile).
3Y return: 58.62% (top quartile).
1Y return: 58.38% (upper mid).
Alpha: 2.59 (upper mid).
Sharpe: 1.14 (upper mid).
Information ratio: -0.56 (bottom quartile).
Higher exposure to Basic Materials vs peer median.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Equity-heavy allocation (~92%).
Largest holding BGF World Gold I2 (~66.2%).
Top-3 holdings concentration ~98.4%.

Below is the key information for DSP World Gold Fund

DSP World Gold Fund Growth
Launch Date	14 Sep 07
NAV (11 Sep 26)	₹63.9982 ↑ 1.29 (2.06 %)
Net Assets (Cr)	₹1,441 on 31 Jul 26
Category	Equity - Global
AMC	DSP BlackRock Invmt Managers Pvt. Ltd.
Rating	☆☆☆
Risk	High
Expense Ratio	1.41
Sharpe Ratio	1.14
Information Ratio	-0.56
Alpha Ratio	2.59
Min Investment	1,000
Min SIP Investment	500
Exit Load	0-12 Months (1%),12 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Aug 21	₹10,000
31 Aug 22	₹7,679
31 Aug 23	₹9,692
31 Aug 24	₹12,678
31 Aug 25	₹21,230
31 Aug 26	₹37,198

DSP World Gold Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹642,208.
Net Profit of ₹342,208 Invest Now

Returns for DSP World Gold Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Sep 26

Duration	Returns
1 Month	8.8%
3 Month	27.6%
6 Month	0.6%
1 Year	58.4%
3 Year	58.6%
5 Year	30.4%
10 Year
15 Year
Since launch	10.3%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	167.1%
2023	15.9%
2022	7%
2021	-7.7%
2020	-9%
2019	31.4%
2018	35.1%
2017	-10.7%
2016	-4%
2015	52.7%

Fund Manager information for DSP World Gold Fund

Name	Since	Tenure
Kaivalya Nadkarni	1 May 25	1.25 Yr.

Data below for DSP World Gold Fund as on 31 Jul 26

Equity Sector Allocation

Sector	Value
Basic Materials	91.57%

Asset Allocation

Asset Class	Value
Cash	6.38%
Equity	91.78%
Debt	0.01%
Other	1.84%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
BGF World Gold I2 Investment Fund \| -	66%	₹954 Cr	983,452
VanEck Gold Miners ETF - \| GDX	28%	₹405 Cr	573,719
Treps / Reverse Repo Investments CBLO/Reverse Repo \| -	4%	₹58 Cr
Net Receivables/Payables Net Current Assets \| -	2%	₹23 Cr

2. SBI PSU Fund

The objective of the scheme would be to provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings and in debt and money market instruments issued by PSUs AND others.

Research Highlights for SBI PSU Fund

Upper mid AUM (₹6,678 Cr).
Established history (16+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: High.
5Y return: 21.25% (upper mid).
3Y return: 17.92% (lower mid).
1Y return: 4.19% (lower mid).
Alpha: -0.89 (bottom quartile).
Sharpe: 0.28 (lower mid).
Information ratio: -0.34 (bottom quartile).
Higher exposure to Financial Services vs peer median.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~98%).
High-quality debt (AAA/AA ~100%).
Largest holding State Bank of India (~16.7%).
Top-3 holdings concentration ~35.0%.

Below is the key information for SBI PSU Fund

SBI PSU Fund Growth
Launch Date	7 Jul 10
NAV (15 Sep 26)	₹33.0022 ↓ -0.81 (-2.38 %)
Net Assets (Cr)	₹6,678 on 31 Jul 26
Category	Equity - Sectoral
AMC	SBI Funds Management Private Limited
Rating	☆☆
Risk	High
Expense Ratio	1.89
Sharpe Ratio	0.28
Information Ratio	-0.34
Alpha Ratio	-0.89
Min Investment	5,000
Min SIP Investment	500
Exit Load	0-1 Years (1%),1 Years and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Aug 21	₹10,000
31 Aug 22	₹11,785
31 Aug 23	₹15,512
31 Aug 24	₹28,188
31 Aug 25	₹24,899
31 Aug 26	₹28,344

SBI PSU Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹518,033.
Net Profit of ₹218,033 Invest Now

Returns for SBI PSU Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Sep 26

Duration	Returns
1 Month	-4.7%
3 Month	-5.4%
6 Month	-4.3%
1 Year	4.2%
3 Year	17.9%
5 Year	21.3%
10 Year
15 Year
Since launch	7.7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	11.3%
2023	23.5%
2022	54%
2021	29%
2020	32.4%
2019	-10%
2018	6%
2017	-23.8%
2016	21.9%
2015	16.2%

Fund Manager information for SBI PSU Fund

Name	Since	Tenure
Rohit Shimpi	1 Jun 24	2.17 Yr.

Data below for SBI PSU Fund as on 31 Jul 26

Equity Sector Allocation

Sector	Value
Financial Services	33.66%
Utility	31.89%
Industrials	14.38%
Energy	11.69%
Basic Materials	6.17%

Asset Allocation

Asset Class	Value
Cash	1.87%
Equity	98.05%
Debt	0.07%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
State Bank of India (Financial Services) Equity, Since 31 Jul 10 \| SBIN	17%	₹1,112 Cr	10,827,500
GAIL (India) Ltd (Utilities) Equity, Since 31 May 24 \| 532155	9%	₹620 Cr	34,150,000 ↓ -4,000,000
NTPC Ltd (Utilities) Equity, Since 31 Jul 10 \| 532555	9%	₹606 Cr	17,443,244 ↑ 2,000,000
Power Grid Corp Of India Ltd (Utilities) Equity, Since 31 Jul 10 \| 532898	8%	₹567 Cr	19,935,554
Bharat Electronics Ltd (Industrials) Equity, Since 30 Jun 24 \| BEL	8%	₹550 Cr	14,185,000
Oil & Natural Gas Corp Ltd (Energy) Equity, Since 31 May 20 \| 500312	5%	₹355 Cr	14,655,000
Bank of Baroda (Financial Services) Equity, Since 31 Aug 24 \| 532134	5%	₹348 Cr	14,350,000
Bharat Petroleum Corp Ltd (Energy) Equity, Since 31 Aug 24 \| 500547	5%	₹310 Cr	9,700,000
Bharat Heavy Electricals Ltd (Industrials) Equity, Since 30 Jun 25 \| 500103	4%	₹265 Cr	6,500,000
NMDC Ltd (Basic Materials) Equity, Since 31 Oct 23 \| 526371	4%	₹237 Cr	27,900,000

3. DSP World Mining Fund

The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in the units of BlackRock Global Funds – World Mining Fund. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities and/or money market/liquid schemes of DSP BlackRock Mutual Fund, in order to meet liquidity requirements from time to time.

Research Highlights for DSP World Mining Fund

Bottom quartile AUM (₹168 Cr).
Established history (16+ yrs).
Rating: 3★ (upper mid).
Risk profile: High.
5Y return: 20.31% (upper mid).
3Y return: 31.19% (upper mid).
1Y return: 66.88% (top quartile).
Alpha: 0.00 (upper mid).
Sharpe: 1.67 (top quartile).
Information ratio: 0.00 (upper mid).
Higher exposure to Basic Materials vs peer median.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Equity-heavy allocation (~94%).
Largest holding BGF World Mining I2 (~95.9%).
Top-3 holdings concentration ~100.0%.

Below is the key information for DSP World Mining Fund

DSP World Mining Fund Growth
Launch Date	29 Dec 09
NAV (11 Sep 26)	₹34.9068 ↑ 0.41 (1.18 %)
Net Assets (Cr)	₹168 on 31 Jul 26
Category	Equity - Global
AMC	DSP BlackRock Invmt Managers Pvt. Ltd.
Rating	☆☆☆
Risk	High
Expense Ratio	1.14
Sharpe Ratio	1.67
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	500
Exit Load	0-12 Months (1%),12 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Aug 21	₹10,000
31 Aug 22	₹9,847
31 Aug 23	₹11,099
31 Aug 24	₹11,646
31 Aug 25	₹14,040
31 Aug 26	₹25,070

DSP World Mining Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹505,644.
Net Profit of ₹205,644 Invest Now

Returns for DSP World Mining Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Sep 26

Duration	Returns
1 Month	3.1%
3 Month	11.9%
6 Month	9.3%
1 Year	66.9%
3 Year	31.2%
5 Year	20.3%
10 Year
15 Year
Since launch	7.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	79%
2023	-8.1%
2022	0%
2021	12.2%
2020	18%
2019	34.9%
2018	21.5%
2017	-9.4%
2016	21.1%
2015	49.7%

Fund Manager information for DSP World Mining Fund

Name	Since	Tenure
Kaivalya Nadkarni	1 May 25	1.25 Yr.

Data below for DSP World Mining Fund as on 31 Jul 26

Equity Sector Allocation

Sector	Value
Basic Materials	93.15%
Energy	1.01%

Asset Allocation

Asset Class	Value
Cash	5.83%
Equity	94.15%
Debt	0.01%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
BGF World Mining I2 Investment Fund \| -	96%	₹161 Cr	141,034
Treps / Reverse Repo Investments CBLO/Reverse Repo \| -	3%	₹6 Cr
Net Receivables/Payables Net Current Assets \| -	1%	₹1 Cr

4. ICICI Prudential Infrastructure Fund

To generate capital appreciation and income distribution to unit holders by investing predominantly in equity/equity related securities of the companies belonging to the infrastructure development and balance in debt securities and money market instruments.

Research Highlights for ICICI Prudential Infrastructure Fund

Upper mid AUM (₹8,523 Cr).
Established history (21+ yrs).
Rating: 3★ (lower mid).
Risk profile: High.
5Y return: 19.95% (lower mid).
3Y return: 15.75% (bottom quartile).
1Y return: 0.42% (bottom quartile).
Alpha: 0.00 (lower mid).
Sharpe: 0.04 (bottom quartile).
Information ratio: 0.00 (lower mid).
Higher exposure to Industrials vs peer median.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~97%).
High-quality debt (AAA/AA ~100%).
Largest holding InterGlobe Aviation Ltd (~7.9%).

Below is the key information for ICICI Prudential Infrastructure Fund

ICICI Prudential Infrastructure Fund Growth
Launch Date	31 Aug 05
NAV (15 Sep 26)	₹195.97 ↓ -4.91 (-2.44 %)
Net Assets (Cr)	₹8,523 on 31 Jul 26
Category	Equity - Sectoral
AMC	ICICI Prudential Asset Management Company Limited
Rating	☆☆☆
Risk	High
Expense Ratio	1.89
Sharpe Ratio	0.04
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	0-1 Years (1%),1 Years and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Aug 21	₹10,000
31 Aug 22	₹12,240
31 Aug 23	₹16,251
31 Aug 24	₹26,185
31 Aug 25	₹25,249
31 Aug 26	₹27,106

ICICI Prudential Infrastructure Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹493,520.
Net Profit of ₹193,520 Invest Now

Returns for ICICI Prudential Infrastructure Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Sep 26

Duration	Returns
1 Month	-4.1%
3 Month	-2.5%
6 Month	7.6%
1 Year	0.4%
3 Year	15.8%
5 Year	20%
10 Year
15 Year
Since launch	15.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.7%
2023	27.4%
2022	44.6%
2021	28.8%
2020	50.1%
2019	3.6%
2018	2.6%
2017	-14%
2016	40.8%
2015	2%

Fund Manager information for ICICI Prudential Infrastructure Fund

Name	Since	Tenure
Ihab Dalwai	3 Jun 17	9.17 Yr.
Sharmila D’mello	30 Jun 22	4.09 Yr.

Data below for ICICI Prudential Infrastructure Fund as on 31 Jul 26

Equity Sector Allocation

Sector	Value
Industrials	43.42%
Basic Materials	13.66%
Utility	10.45%
Financial Services	9.8%
Real Estate	8.34%
Energy	7.84%
Consumer Cyclical	2.16%
Communication Services	0.06%

Asset Allocation

Asset Class	Value
Cash	3.29%
Equity	96.71%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
InterGlobe Aviation Ltd (Industrials) Equity, Since 28 Feb 23 \| INDIGO	8%	₹673 Cr	1,301,985
Larsen & Toubro Ltd (Industrials) Equity, Since 30 Nov 09 \| LT	6%	₹500 Cr	1,268,485
Reliance Industries Ltd (Energy) Equity, Since 31 Jul 23 \| RELIANCE	5%	₹396 Cr	3,029,725 ↑ 1,050,000
Oberoi Realty Ltd (Real Estate) Equity, Since 31 May 23 \| OBEROIRLTY	4%	₹373 Cr	2,038,517 ↓ -100,909
NTPC Ltd (Utilities) Equity, Since 29 Feb 16 \| 532555	4%	₹300 Cr	8,626,448
Shree Cement Ltd (Basic Materials) Equity, Since 30 Apr 24 \| 500387	3%	₹279 Cr	106,892
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jan 22 \| HDFCBANK	3%	₹251 Cr	3,357,506
Brigade Enterprises Ltd (Real Estate) Equity, Since 30 Nov 25 \| 532929	3%	₹247 Cr	4,257,556
Kalpataru Projects International Ltd (Industrials) Equity, Since 30 Sep 06 \| KPIL	3%	₹236 Cr	1,830,742
AIA Engineering Ltd (Industrials) Equity, Since 28 Feb 21 \| AIAENG	3%	₹233 Cr	507,392 ↓ -48,354

5. Motilal Oswal Midcap 30 Fund

(Erstwhile Motilal Oswal MOSt Focused Midcap 30 Fund)

The investment objective of the Scheme is to achieve long term capital appreciation by investing in a maximum of 30 quality mid-cap companies having long-term competitive advantages and potential for growth. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Research Highlights for Motilal Oswal Midcap 30 Fund

Highest AUM (₹40,036 Cr).
Established history (12+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately High.
5Y return: 19.73% (lower mid).
3Y return: 16.59% (bottom quartile).
1Y return: -2.66% (bottom quartile).
Alpha: -9.71 (bottom quartile).
Sharpe: -0.24 (bottom quartile).
Information ratio: 0.06 (upper mid).
Higher exposure to Technology vs peer median.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~96%).
Largest holding Kalyan Jewellers India Ltd (~8.9%).

Below is the key information for Motilal Oswal Midcap 30 Fund

Motilal Oswal Midcap 30 Fund Growth
Launch Date	24 Feb 14
NAV (15 Sep 26)	₹102.066 ↓ -2.68 (-2.56 %)
Net Assets (Cr)	₹40,036 on 31 Jul 26
Category	Equity - Mid Cap
AMC	Motilal Oswal Asset Management Co. Ltd
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	1.56
Sharpe Ratio	-0.24
Information Ratio	0.06
Alpha Ratio	-9.71
Min Investment	5,000
Min SIP Investment	500
Exit Load	0-1 Years (1%),1 Years and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Aug 21	₹10,000
31 Aug 22	₹12,549
31 Aug 23	₹15,866
31 Aug 24	₹25,879
31 Aug 25	₹25,890
31 Aug 26	₹27,113

Motilal Oswal Midcap 30 Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹493,520.
Net Profit of ₹193,520 Invest Now

Returns for Motilal Oswal Midcap 30 Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Sep 26

Duration	Returns
1 Month	-2%
3 Month	9.3%
6 Month	23.9%
1 Year	-2.7%
3 Year	16.6%
5 Year	19.7%
10 Year
15 Year
Since launch	20.3%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	-12.1%
2023	57.1%
2022	41.7%
2021	10.7%
2020	55.8%
2019	9.3%
2018	9.7%
2017	-12.7%
2016	30.8%
2015	5.2%

Fund Manager information for Motilal Oswal Midcap 30 Fund

Name	Since	Tenure
Varun Sharma	21 Jan 26	0.53 Yr.
Swapnil Mayekar	18 Nov 25	0.7 Yr.
Ajay Khandelwal	1 Oct 24	1.83 Yr.
Ankit Agarwal	21 Jan 26	0.53 Yr.
Rakesh Shetty	22 Nov 22	3.69 Yr.

Data below for Motilal Oswal Midcap 30 Fund as on 31 Jul 26

Equity Sector Allocation

Sector	Value
Technology	28.34%
Financial Services	27.66%
Consumer Cyclical	17.34%
Industrials	13.7%
Real Estate	2.58%
Communication Services	2.55%
Health Care	2.2%
Energy	0.91%
Consumer Defensive	0.6%

Asset Allocation

Asset Class	Value
Cash	4.13%
Equity	95.87%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Kalyan Jewellers India Ltd (Consumer Cyclical) Equity, Since 29 Feb 24 \| KALYANKJIL	9%	₹3,553 Cr	58,000,000 ↓ -3,413,395
One97 Communications Ltd (Technology) Equity, Since 30 Sep 24 \| PAYTM	8%	₹3,237 Cr	24,100,476
Eternal Ltd (Consumer Cyclical) Equity, Since 31 Aug 25 \| ETERNAL	6%	₹2,552 Cr	84,386,866
Coforge Ltd (Technology) Equity, Since 31 Mar 23 \| COFORGE	6%	₹2,235 Cr	12,988,926 ↓ -2,464,386
Aditya Birla Capital Ltd (Financial Services) Equity, Since 30 Jun 25 \| ABCAPITAL	5%	₹2,082 Cr	51,500,000 ↓ -959,381
KEI Industries Ltd (Industrials) Equity, Since 30 Nov 24 \| KEI	5%	₹1,925 Cr	3,850,000 ↓ -20,834
Persistent Systems Ltd (Technology) Equity, Since 31 Jan 23 \| PERSISTENT	5%	₹1,901 Cr	3,425,000 ↓ -551,493
Billionbrains Garage Ventures Ltd (Financial Services) Equity, Since 31 Jan 26 \| GROWW	4%	₹1,635 Cr	84,095,094 ↓ -521,566
Shriram Finance Ltd (Financial Services) Equity, Since 31 Jan 26 \| SHRIRAMFIN	4%	₹1,500 Cr	14,328,296 ↑ 737,429
Dixon Technologies (India) Ltd (Technology) Equity, Since 31 Mar 23 \| DIXON	3%	₹1,395 Cr	992,735 ↓ -32,000

6. DSP India T.I.G.E.R Fund

To generate capital appreciation, from a portfolio that is substantially constituted of equity securities and equity related securities of corporates, which could benefit from structural changes brought about by continuing liberalization in economic policies by the government and/or continuing investments in infrastructure, both by the public and private sector.

Research Highlights for DSP India T.I.G.E.R Fund

Lower mid AUM (₹6,325 Cr).
Oldest track record among peers (22 yrs).
Top rated.
Risk profile: High.
5Y return: 19.39% (bottom quartile).
3Y return: 17.96% (lower mid).
1Y return: 10.93% (upper mid).
Alpha: 0.00 (lower mid).
Sharpe: 0.52 (upper mid).
Information ratio: 0.00 (lower mid).
Top sector: Industrials.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~90%).
Largest holding Reliance Industries Ltd (~6.8%).

Below is the key information for DSP India T.I.G.E.R Fund

DSP India T.I.G.E.R Fund Growth
Launch Date	11 Jun 04
NAV (15 Sep 26)	₹350.678 ↓ -8.88 (-2.47 %)
Net Assets (Cr)	₹6,325 on 31 Jul 26
Category	Equity - Sectoral
AMC	DSP BlackRock Invmt Managers Pvt. Ltd.
Rating	☆☆☆☆
Risk	High
Expense Ratio	1.89
Sharpe Ratio	0.52
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	500
Exit Load	0-12 Months (1%),12 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Aug 21	₹10,000
31 Aug 22	₹11,274
31 Aug 23	₹15,130
31 Aug 24	₹24,720
31 Aug 25	₹22,070
31 Aug 26	₹26,291

DSP India T.I.G.E.R Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹493,520.
Net Profit of ₹193,520 Invest Now

Returns for DSP India T.I.G.E.R Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Sep 26

Duration	Returns
1 Month	-3.8%
3 Month	-1.3%
6 Month	14.3%
1 Year	10.9%
3 Year	18%
5 Year	19.4%
10 Year
15 Year
Since launch	17.3%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	-2.5%
2023	32.4%
2022	49%
2021	13.9%
2020	51.6%
2019	2.7%
2018	6.7%
2017	-17.2%
2016	47%
2015	4.1%

Fund Manager information for DSP India T.I.G.E.R Fund

Name	Since	Tenure
Rohit Singhania	21 Jun 10	16.12 Yr.

Data below for DSP India T.I.G.E.R Fund as on 31 Jul 26

Equity Sector Allocation

Sector	Value
Industrials	27.78%
Energy	12.96%
Basic Materials	11.37%
Utility	9.41%
Financial Services	8.76%
Health Care	5.86%
Consumer Cyclical	5.03%
Communication Services	2.65%
Real Estate	1.51%
Technology	1%
Consumer Defensive	0.13%

Asset Allocation

Asset Class	Value
Cash	10.3%
Equity	89.7%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Reliance Industries Ltd (Energy) Equity, Since 31 Aug 19 \| RELIANCE	7%	₹427 Cr	3,267,164 ↑ 246,542
NTPC Ltd (Utilities) Equity, Since 30 Nov 17 \| 532555	5%	₹321 Cr	9,249,176
Apollo Hospitals Enterprise Ltd (Healthcare) Equity, Since 31 Dec 24 \| APOLLOHOSP	4%	₹270 Cr	301,630
Larsen & Toubro Ltd (Industrials) Equity, Since 30 Jun 04 \| LT	4%	₹232 Cr	588,665
Hindustan Aeronautics Ltd Ordinary Shares (Industrials) Equity, Since 31 Oct 25 \| HAL	3%	₹197 Cr	423,779
Nifty Aug26 - \| -	3%	₹190 Cr	77,805 ↑ 77,805
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Oct 18 \| BHARTIARTL	3%	₹168 Cr	849,969
Bharat Electronics Ltd (Industrials) Equity, Since 31 May 26 \| BEL	3%	₹158 Cr	4,081,390
Oil & Natural Gas Corp Ltd (Energy) Equity, Since 31 Mar 24 \| 500312	2%	₹143 Cr	5,888,442 ↑ 2,674,891
UltraTech Cement Ltd (Basic Materials) Equity, Since 31 Dec 14 \| 532538	2%	₹140 Cr	118,010

7. LIC MF Infrastructure Fund

The investment objective of the scheme is to provide long term growth from a portfolio of equity / equity related instruments of companies engaged either directly or indirectly in the infrastructure sector.

Research Highlights for LIC MF Infrastructure Fund

Bottom quartile AUM (₹1,145 Cr).
Established history (18+ yrs).
Not Rated.
Risk profile: High.
5Y return: 19.25% (bottom quartile).
3Y return: 20.99% (upper mid).
1Y return: 5.80% (lower mid).
Alpha: 5.37 (top quartile).
Sharpe: 0.28 (lower mid).
Information ratio: 0.56 (top quartile).
Higher exposure to Industrials vs peer median.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~95%).
Largest holding Indo MIM Ltd (~5.5%).

Below is the key information for LIC MF Infrastructure Fund

LIC MF Infrastructure Fund Growth
Launch Date	29 Feb 08
NAV (15 Sep 26)	₹52.9699 ↓ -1.36 (-2.50 %)
Net Assets (Cr)	₹1,145 on 31 Jul 26
Category	Equity - Sectoral
AMC	LIC Mutual Fund Asset Mgmt Co Ltd
Rating	Not Rated
Risk	High
Expense Ratio	2.21
Sharpe Ratio	0.28
Information Ratio	0.56
Alpha Ratio	5.37
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	0-1 Years (1%),1 Years and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Aug 21	₹10,000
31 Aug 22	₹11,438
31 Aug 23	₹14,078
31 Aug 24	₹25,080
31 Aug 25	₹22,664
31 Aug 26	₹26,211

LIC MF Infrastructure Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹493,520.
Net Profit of ₹193,520 Invest Now

Returns for LIC MF Infrastructure Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Sep 26

Duration	Returns
1 Month	-4.9%
3 Month	-1.7%
6 Month	13%
1 Year	5.8%
3 Year	21%
5 Year	19.3%
10 Year
15 Year
Since launch	9.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	-3.7%
2023	47.8%
2022	44.4%
2021	7.9%
2020	46.6%
2019	-0.1%
2018	13.3%
2017	-14.6%
2016	42.2%
2015	-2.2%

Fund Manager information for LIC MF Infrastructure Fund

Name	Since	Tenure
Mahesh Bendre	1 Jul 24	2.08 Yr.

Data below for LIC MF Infrastructure Fund as on 31 Jul 26

Equity Sector Allocation

Sector	Value
Industrials	36.3%
Consumer Cyclical	19.93%
Financial Services	9.79%
Basic Materials	9.64%
Utility	9.62%
Real Estate	5.65%
Communication Services	3.64%

Asset Allocation

Asset Class	Value
Cash	5.32%
Equity	94.68%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Indo MIM Ltd (Industrials) Equity, Since 31 Jul 26 \| INDOMIM	5%	₹63 Cr	805,997 ↑ 805,997
Tata Motors Passenger Vehicles Ltd (Consumer Cyclical) Equity, Since 28 Feb 26 \| TMPV	4%	₹42 Cr	1,224,915
Tata Motors Ltd (Consumer Cyclical) Equity, Since 31 Oct 25 \| TMCV	4%	₹41 Cr	944,348
Garware Hi-Tech Films Ltd (Basic Materials) Equity, Since 31 Aug 23 \| 500655	4%	₹41 Cr	57,317
Phoenix Mills Ltd (Real Estate) Equity, Since 31 Jul 26 \| 503100	3%	₹39 Cr	206,535 ↑ 206,535
Larsen & Toubro Ltd (Industrials) Equity, Since 30 Apr 09 \| LT	3%	₹38 Cr	96,023
Tata Power Co Ltd (Utilities) Equity, Since 29 Feb 24 \| 500400	3%	₹33 Cr	861,040
KSH International Ltd (Industrials) Equity, Since 31 Dec 25 \| KSHINTL	3%	₹31 Cr	367,501
Carraro India Ltd (Consumer Cyclical) Equity, Since 31 Dec 24 \| CARRARO	3%	₹30 Cr	565,917
Hitachi Energy India Ltd Ordinary Shares (Industrials) Equity, Since 31 May 26 \| POWERINDIA	3%	₹29 Cr	9,105 ↑ 3,628

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