Equity mutual funds offer average return of 1.20% in May, sectoral funds top chart

Equity mutual funds have offered an average return of 1.20% in May, an analysis of performance showed. There were around 602 equity and equity-oriented schemes in the market in the said month. Only two equity mutual funds gave double-digit returns during the month. HDFC Defence Fund, the topper in the list, gave 14.34% return in May. Canara Robeco Infrastructure Fund gave 10.73% return in the said period.

Invesco India PSU Equity Fund, a PSU fund, gave 9.74% return in May. Two infrastructure funds – HSBC Infrastructure Fund and Invesco India Infrastructure Fund – gave 8.94% and 8.70% returns respectively in the said month.

Franklin India Feeder – Templeton European Opportunities Fund, an international fund, offered 8.46% return in May.

Kotak Emerging Equity Fund, the second largest mid cap fund, offered a return of 5.23% in May. Aditya Birla Sun Life Global Emerging Opportunities Fund gave 4.35% in the said period. Kotak Small Cap Fund offered 3.75% in the same time period.HDFC Balanced Advantage Fund, the largest fund among all equity and equity oriented funds based on assets under management, offered 2.44% return in May. Nippon India Small Cap Fund, the largest small cap fund based on assets managed, delivered 1.27% return in May. SBI Long Term Equity Fund, the oldest ELSS fund, gave 1.13% return in the said period.

Parag Parikh Flexi Cap Fund, the largest flexi cap fund based on assets under management, gave 0.98% return in May.

There were around 602 equity and equity-oriented mutual funds. Out of 602 equity mutual funds, two gave double-digit returns, 472 funds gave single-digit returns, and 128 funds delivered negative returns.

HSBC Brazil Fund, an international fund, lost the most in May. The fund offered negative returns of around 5.13%, followed by the UTI Innovation Fund which gave a negative return of 3.62% in May. SBI Healthcare Opportunities Fund lost 2.15% in the same time horizon.

Aditya Birla SL Digital India Fund lost 1.40% in the said period. Axis ELSS Tax Saver Fund, the largest ELSS fund based on assets managed, offered 1.08% return in May.

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We considered all equity and equity-oriented categories such as large cap, mid cap, large & mid cap, small cap, multi cap, flexi cap, ELSS, focused fund, value, contra, sectoral/thematic funds, aggressive hybrid, arbitrage, equity savings, and balanced advantage/dynamic asset allocation fund categories. We considered regular and growth options. We calculated returns from May 1, 2024 to May 31, 2024.

Note, the above exercise is not a recommendation. The above exercise was done to find how equity mutual funds performed in May. One should not make investment or redemption decisions based on the above exercise.

Before making any investment decision, one should always consider risk appetite, investment horizon, and goal.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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