These mutual funds outperformed their benchmark in 2019

picture depicting atheles competing near the finish line representative of active mutual funds trying to beat their benchmarks

In the second part of the year in review series, let us look at the mutual funds that outperformed their category benchmarks in 2019. In the 1st part, we looked at 48 mutual funds outperformed the Nifty in 2019! Also see: My 2019 personal financial audit: Have you done yours?

Out of a total of 290 mutual funds across 13 categories, only 103 funds managed to beat benchmarks, that is, get a greater absolute return between 1st Jan 2019 to 23 Dec 2019.

kindly note: This list is only for information and should not be construed as investment advice. The constituents of this list can change in the remaining trading days of 2019.

Aggressive Hybrid Funds There are 34 funds in this category.  The typical category benchmark CRISIL Hybrid 35+65 – Aggressive Index moved up by 10.95%.  Only the following 12 funds managed to do better.

Scheme Name YTD
Axis Equity Hybrid Fund-Reg(G) 14.7508
BNP Paribas Substantial Equity Hybrid Fund-Reg(G) 16.4248
Canara Rob Equity Hybrid Fund-Reg(G) 11.7948
DSP Equity & Bond Fund-Reg(G) 14.2341
Essel Equity Hybrid Fund-Reg(G) 11.4559
Indiabulls Equity Hybrid Fund-Reg(G) 11.8236
Kotak Equity Hybrid Fund(D) 13.3718
LIC MF Equity Hybrid Fund(G) 13.8655
Mirae Asset Hybrid Equity Fund-Reg(G) 11.8541
Motilal Oswal Equity Hybrid Fund-Reg(G) 16.5894
SBI Equity Hybrid Fund-Reg(D) 13.3803
Sundaram Equity Hybrid Fund(G) 11.6280

Balanced Advantage Funds Three out of nine funds managed to beat CRISIL Hybrid 35+65 – Aggressive Index which moved up by 10.95%

Scheme Name YTD
ICICI Pru Balanced Advantage Fund(G) 10.7330
Kotak Balanced Advantage Fund-Reg(G) 12.1744
Union Balanced Advantage Fund-Reg(G) 10.5675

Dividend Yield Funds NIFTY DIV OPPS 50 – TRI moved up only 0.59%. Five out of six funds managed to do better.

Scheme Name YTD
IDBI Dividend Yield Fund-Reg(G) 7.5848
Principal Dividend Yield Fund(G) 4.6893
Templeton India Equity Income Fund(G) 3.7932
UTI Dividend Yield Fund-Reg(G) 2.7115
Aditya Birla SL Dividend Yield Fund(G) 1.8385
ICICI Pru Dividend Yield Equity Fund(G) -3.5366

Dynamic Asset Allocation Funds Only one out of thirteen funds managed to beat CRISIL Hybrid 35+65 – Aggressive Index which moved up by 10.95%

Scheme Name YTD
Motilal Oswal Dynamic Fund-Reg(G) 11.5329
Baroda Dynamic Equity Fund-Reg(G) 10.8696
BNP Paribas Dynamic Equity Fund-Reg(G) 10.4586
Invesco India Dynamic Equity Fund(G) 9.8153
DSP Dynamic Asset Allocation Fund-Reg(G) 8.9837
IDFC Dynamic Equity Fund-Reg(G) 8.7191
Edelweiss Balanced Advantage Fund-Reg(G) 7.6519
SBI Dynamic Asset Allocation Fund-Reg(G) 6.9460
Axis Dynamic Equity Fund-Reg(G) 6.2617
Shriram Balanced Advantage Fund-Reg(G) 4.3200
Principal Balanced Advantage Fund(G) 1.2714
UTI ULIP(G) 0.0375
BOI AXA Equity Debt Rebalancer Fund-Reg(G) -3.4539

Equity Linked Savings Scheme Out of 43 ELSS funds(!), only 9 funds managed to beat the typical category benchmark, S&P BSE 200 – TRI 10.88%.

Scheme Name YTD
Axis Long Term Equity Fund-Reg(G) 15.4161
JM Tax Gain Fund(G) 15.1217
BNP Paribas Long Term Equity Fund(G) 14.8411
DSP Tax Saver Fund-Reg(G) 14.7758
BOI AXA Tax Advantage Fund-Reg(G) 14.2356
Mirae Asset Tax Saver Fund-Reg(G) 13.8617
Motilal Oswal Long Term Equity Fund-Reg(G) 12.6615
Kotak Tax Saver Fund(G) 12.3028
LIC MF Tax Plan(G) 12.1082
Tata India Tax Savings Fund-Reg(DP) 12.0652
Shriram Long Term Equity Fund-Reg(G) 11.6370
Union Long Term Equity Fund(G) 10.9819

Focused Funds Only 7 out of 22 funds managed to beat Nifty 50 TRI which moved up by 14.36%

Scheme Name YTD
IIFL Focused Equity Fund-Reg(G) 26.6747
Motilal Oswal Focused 25 Fund-Reg(G) 18.3695
Mirae Asset Focused Fund-Reg(G) 17.9500
DSP Focus Fund-Reg(G) 17.9089
SBI Focused Equity Fund-Reg(G) 16.1373
Sundaram Select Focus(G) 15.7819
Axis Focused 25 Fund-Reg(G) 15.5108

Large and MIdcap Funds Nifty LargeMidcap 250 Index – TRI moved up 5.62% and S&P BSE 250 LargeMidCap Index – TRI moved up by 10.64%. This is because the NSE index is made of 50% large cap and 50% mid caps while the BSE index is uniformly market cap-weighted.

The full list of funds is presented here. Funds that moved up more than the NSE index were large cap heavy in 2019.

Scheme Name YTD
Axis Growth Opp Fund-Reg(G) 16.7812
Mirae Asset Emerging Bluechip-Reg(G) 13.9285
Tata Large & Mid Cap Fund(G) 13.7993
Kotak Equity Opp Fund(G) 12.6359
Edelweiss Large & Mid Cap Fund-Reg(G) 10.9554
DSP Equity Opportunities Fund-Reg(G) 10.9115
LIC MF Large & Midcap Fund-Reg(G) 10.8628
Invesco India Growth Opp Fund(G) 10.6402
Sundaram Large and Mid Cap Fund(G) 10.4893
BOI AXA Large & Mid Cap Equity Fund-Reg(G) 8.5845
Canara Rob Emerg Equities Fund-Reg(G) 8.3006
Essel Large & Midcap Fund-Reg(G) 8.2290
Aditya Birla SL Equity Advantage Fund(D) 8.0292
HDFC Growth Opp Fund-Reg(G) 6.4427
L&T Large and Midcap Fund-Reg(G) 6.2018
SBI Large & Midcap Fund-Reg(D) 6.1625
Principal Emerging Bluechip Fund(G) 6.0645
Motilal Oswal Large & Midcap Fund-Reg(G) 5.5260
Nippon India Vision Fund(G) 5.3111
ICICI Pru Large & Mid Cap Fund(G) 4.8696
HSBC Large & Mid Cap Equity Fund-Reg(G) 4.0640
Quant Large & Mid Cap Fund(G) 3.1924
IDFC Core Equity Fund-Reg(G) 2.9685
Franklin India Equity Advantage Fund(G) 1.5908
Union Large & Midcap Fund-Reg(G) 1.0000
UTI Core Equity Fund-Reg(G) 0.3161

Large Cap Funds Only 8 out of 33 funds managed to beat NIfty 50 (14.36%)

Scheme Name YTD
Axis Bluechip Fund-Reg(G) 19.5708
BNP Paribas Large Cap Fund(G) 18.1556
HSBC Large Cap Equity Fund(G) 16.3905
Canara Rob Bluechip Equity Fund-Reg(G) 16.1909
LIC MF Large Cap Fund(G) 15.9385
DSP Top 100 Equity Fund-Reg(G) 15.4501
PGIM India Large Cap Fund(G) 15.3590
Kotak Bluechip Fund(D) 14.9152

Mid Cap Funds Out of 25 funds, 15 funds managed to Nifty Midcap 150 – TRI which fell by -0.87%.

Scheme Name YTD
Mirae Asset Midcap Fund-Reg(G) 11.2900
Axis Midcap Fund-Reg(G) 10.6252
Motilal Oswal Midcap 30 Fund-Reg(G) 8.2349
DSP Midcap Fund-Reg(G) 7.7307
Kotak Emerging Equity Fund(G) 7.1192
Sahara Midcap Fund(G) 5.9731
Tata Mid Cap Growth Fund(G) 5.2995
Nippon India Growth Fund(G) 5.0758
Mahindra Unnati Emerging Business Yojana-Reg(G) 3.7792
Edelweiss Mid Cap Fund-Reg(G) 3.6213
BNP Paribas Mid Cap Fund(G) 2.9734
Franklin India Prima Fund(G) 2.6771
Invesco India Midcap Fund(G) 1.9640
Taurus Discovery (Midcap) Fund-Reg(G) 0.4666
PGIM India Midcap Opp Fund-Reg(G) 0.4530

Multi-Asset Allocation Funds The full list of seven funds in this category are listed below. The Axis fund beat CRISIL Hybrid 35+65 – Aggressive Index (10.94%) and Nifty 50 TRI (14.36%)

Scheme Name YTD
Axis Triple Advantage Fund-Reg(G) 15.1017
Quant Multi-Asset Fund(G) 10.8807
SBI Multi Asset Allocation Fund-Reg(G) 10.2753
Essel 3 in 1 Fund(G) 8.8533
HDFC Multi-Asset Fund(G) 8.7238
ICICI Pru Multi-Asset Fund(G) 6.4576
UTI Multi Asset Fund-Reg(G) 3.7357

Multi-Cap Funds Out of 36 funds, 16 funds beat NIFTY 500 – TRI that moved up by 9.25%.

Scheme Name YTD
Axis Multicap Fund-Reg(G) 18.0147
JM Multicap Fund(G) 17.3758
DSP Equity Fund-Reg(D) 15.6532
LIC MF Multi-Cap Fund(G) 14.1919
Parag Parikh Long Term Equity Fund-Reg(G) 14.0586
Mahindra MF Badhat Yojana-Reg(G) 13.6873
Essel Multi-Cap Fund-Reg(G) 13.4596
BNP Paribas Multi Cap Fund(G) 13.1536
Kotak Standard Multicap Fund(G) 12.7133
ITI Multi-Cap Fund-Reg(G) 12.6140
Canara Rob Equity Diver Fund-Reg(G) 12.5347
Union Multi-Cap Fund-Reg(G) 12.2570
Tata Multicap Fund-Reg(G) 11.0435
SBI Magnum Multicap Fund-Reg(G) 10.8022
UTI Equity Fund-Reg(D) 10.8010
PGIM India Diversified Equity Fund-Reg(G) 9.2563

Small Cap Funds Out of 21 small cap funds (full list below), 16 funds managed to do better than S&P BSE Small-Cap – TRI that fell by -8.05%

Scheme Name YTD
Axis Small Cap Fund-Reg(G) 17.2555
Edelweiss Small Cap Fund-Reg(G) 8.2700
ICICI Pru Smallcap Fund(G) 8.0357
SBI Small Cap Fund-Reg(G) 5.6992
Kotak Small Cap Fund(G) 2.8830
BOI AXA Small Cap Fund-Reg(G) 2.5896
Invesco India Smallcap Fund-Reg(G) 1.8304
Tata Small Cap Fund-Reg(G) 1.5808
Principal Small Cap Fund-Reg(G) 1.4000
Union Small Cap Fund-Reg(G) 1.1687
DSP Small Cap Fund-Reg(G) -2.2792
Nippon India Small Cap Fund(G) -4.6376
Canara Rob Small Cap Fund-Reg(G) -6.3000
Franklin India Smaller Cos Fund(G) -6.5257
IDBI Small Cap Fund(G) -6.5332
Sundaram Small Cap Fund(G) -7.8519
L&T Emerging Businesses Fund-Reg(G) -9.8196
HDFC Small Cap Fund-Reg(G) -10.5863
HSBC Small Cap Equity Fund(G) -12.8288
Aditya Birla SL Small Cap Fund(G) -13.1927
Quant Small Cap Fund(G) -25.4063

Value Funds There are 14 funds in this category (full list below). S&P BSE Enhanced Value Index fell by -10.81% while S&P BSE 500 – TRI moved up by 9.25%. Only two funds have done better than this.

Scheme Name YTD
JM Value Fund(G) 12.3201
UTI Value Opp Fund-Reg(G) 9.8908
Tata Equity P/E Fund(G) 5.8219
Nippon India Value Fund(G) 5.2297
Union Value Discovery Fund-Reg(G) 4.7619
L&T India Value Fund-Reg(G) 4.2744
IDBI Long Term Value Fund-Reg(G) 1.1788
ICICI Pru Value Discovery Fund(G) 0.4460
Indiabulls Value Fund-Reg(G) -0.4470
HDFC Capital Builder Value Fund(G) -0.5050
Quantum Long Term Equity Value Fund(G)-Direct Plan -1.0699
Templeton India Value Fund(D) -2.0433
IDFC Sterling Value Fund-Reg(G) -7.7848
Aditya Birla SL Pure Value Fund(G) -11.5949

How did your funds do? In the next part, we will compare different benchmarks themselves.

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