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Largecap funds deliver 6% in Jan-Mar quarter; Mirae Asset Large Cap Fund offers 1.69% return

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Large cap mutual funds offered an average return of 5.50% in the January-March quarter in 2024. There were around 30 large cap schemes in the market.

Large cap schemes are benchmarked against NIFTY 100 – TRI, and S&P BSE 100 – TRI. The benchmarks offered 4.68%, and 4.15% respectively in the January-March quarter in 2024.

Quant Large Cap Fund, the topper in the large cap category, gave 9.53% in the January – March quarter in 2024. Baroda BNP Paribas Large Cap Fund gave 8.90% in the said period.

Taurus Large Cap Fund, the smallest scheme in the large cap category based on assets managed, gave 7.56%. The scheme manages assets of Rs 43.81 crore. Nippon India Large Cap Fund offered 7.04% in the quarter.

Also Read | International funds deliver up to 15% CAGR in 10 yearsFranklin India Bluechip Fund, the oldest scheme in the large cap category, offered 4.67% in the January – March quarter 2024.Aditya Birla Sun Life Frontline Equity Fund, the largest scheme in the large cap category based on assets managed, gave 4.47%.

ETMutualFunds also compared the performance of large cap schemes for the quarter that ended in March 2024 with the performance of their respective benchmarks. Out of 30 schemes in the large cap category, 19 large cap schemes outperformed their respective benchmarks. In other words, 11 large cap schemes failed to beat their respective benchmarks.

The oldest scheme in the large cap category, Franklin India Bluechip Fund, failed to beat its benchmark in the quarter. The scheme offered 4.67% against 4.68% by its benchmark (Nifty 100 – TRI). Kotak Bluechip Fund underperformed against its benchmark. SBI BlueChip Fund also failed to outperform its benchmark in the quarter. The scheme offered 2.65% in the January – March quarter in 2024. The scheme is benchmarked against S&P BSE 100 – TRI which gave 4.15% during the quarter.

All the 30 large cap schemes offered positive returns in the quarter.

Also Read | Tech-betting mutual fund investors lose over 4% in March. Will April be different?

As per the last available AMFI data (as on February 29, 2024), the large cap category in the quarter that ended in March 2024 received a total inflow of Rs 2,208.19 crore. The net asset under management for the large cap category as on February 29, 2024 was Rs 3.05 lakh crore.

Large cap schemes are recommended to conservative investors looking for equity mutual fund schemes to achieve your long-term goals. These schemes are mandated to invest in top 100 companies by market capitalisation. These large companies fare better in a volatile market as these companies may be market leaders and resilient to downturns. This makes these schemes relatively less risky and volatile.

(Disclaimer: All large funds, regular and growth options available for investment in the market were considered for this report. This exercise is not a recommendation. It was done to find how large cap funds performed in the January – March quarter in 2024. One should not make investment or redemption decisions based on the above exercise. One should always consider risk appetite, investment horizon, and goal before making investment decisions. 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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Sromplexport offers international trade services, including product sourcing, quality control, logistics, and customs clearance. Our ethical and transparent approach simplifies the import/export process for clients in various industries.

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