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Over the past few years, mutual fund schemes in India have significantly grown. As a result, we see the best performance funds keep changing. In India, systems like CRISIL, Morning Star, and ICRA evaluate the performance of <keyword id="6357979" type="UNKNOWN" weightage="20" keywordseo="mutual-funds">mutual funds</keyword> on the basis of the returns they assure, standard deviation, qualitative and quantitative aspects and other factors. When these findings are summed up, we get the list of top performing <keyword id="864677" type="PERSON" weightage="20" keywordseo="Mutual-Funds-in-India">mutual funds in India</keyword> for a given financial year. This list can guide the investors in choosing the right kind of avenues to invest in the domain of mutual funds. Here we discuss the <keyword id="35457" type="PERSON" weightage="20" keywordseo="Best-Mutual-Funds">best mutual funds</keyword> for FY 2019-20. <table style="width: 279pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:162pt">Mutual Fund Name</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 117pt;">12-month change (%)</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Mirae Asset Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">58.7</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Invesco Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">49.9</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">AXIS Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">23.4</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Canara Robeco Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20.5</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">SBI Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">20.4</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Kotak Mahindra Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">16.1</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11.8</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">IDFC Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">11.6</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">PRINCIPAL Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">3.9</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">UTI Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.9</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">ICICI Prudential Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.7</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">HDFC Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">1</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Reliance Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">0.2</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">L&amp;T Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-7.1</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Motilal Oswal Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-7.7</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">BNP Paribas Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-8.1</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Sundaram Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-8.4</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Aditya Birla Sun Life Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-9.9</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Franklin Templeton Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-12.1</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">DSP Mutual Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-13.3</td> </tr></tbody></table>Source: August'19 (Motilal Oswal - Indian Mutual Fund Tracker) Nifty changed by -5.6% during the same period. The background Following the market correction in 2018, the valuations in several categories have reached highly attractive levels. This has opened up new opportunities for the investors and the fund managers. India’s top performing mutual funds are all set to assure strong returns to the investors in 2019-20. Axis Blue Chip Fund Incepted on January 5, 2010, the AUM of this large cap fund is Rs. 4,802 crore. The outperformance of this fund over the recent past is impressing the industry experts during a time when a large number of actively managed funds failed during last year. As of May 2019, the 5 year CAGR of Axis Bluechip Fund is 15.16%. This can offer a solid platform for a very powerful mutual fund portfolio in 2019. Kotak Standard Multicap Fund Considered under the category of Equity Multicap fund, the AUM of Kotak Standard Multicap Fund incepted on September 11, 2009, is Rs. 23,881 crore. It has delivered a return of 19.48% over the past five years. This fund also presents immense growth prospects in the mid cap space. Fairly diversified across 56 sticks, the investors feel they are taken care very well when they invest in it. HDFC Small Cap Fund Found under the category of small cap funds and incepted on April 3, 2008, the AUM of HDFC small cap fund is Rs. 7,660 crore. Despite the severe test of the times in 2018, the fund has managed to provide the investors a 5 year CAGR at 20.83%. About 57% of this funds has been invested in small cap companies while 36% is invested in mid-cap space leaving the remaining 6% to large caps. Franklin India Prima Fund Incepted on December 1, 1993, this fund has completed 25 years in the stock market. Categorized as mid cap fund, the AUM is Rs. 7,116 crore. It could deliver a highly amazing 19.52 CAGR. This will mean that if a sum of Rs 1 lakh was invested in during its inception, it will value at Rs 90.70 lacs now. Axis Long Term Equity Fund Incepted on December 29, 2009 and categorized as ELSS tax saving fund, the AUM of this fund is Rs. 18,852 crore. This fund is considered as a legend in the arena of tax saving schemes. For a long time, it has continuously outperformed till it reached a point when a majority of investors always had a portion of their tax saving investment in this fund. See Also:<a data-type="tilCustomLink">Top Mutual Funds to invest this Diwali for long-term prosperity of your Family</a>

Top performing mutual funds in India 2019

<ul><li><keyword id="8196525" type="UNKNOWN" weightage="20" keywordseo="Kotak-Pioneer-Fund">Kotak Pioneer Fund</keyword> is a new mutual fund that will be investing in companies that focus on technology and innovation. </li><li>It is uncommon for mutual funds in India to invest in unlisted equities since they pose a high-risk. </li><li>The new fund will be managed by Harish Krishnan, the Senior Vice President and Equity Fund Manager at <keyword id="119509" type="ORGANIZATION" weightage="20" keywordseo="Kotak-Mutual-Fund">Kotak Mutual Fund</keyword>. </li></ul>Kotak Pioneer Fund launched today will invest in new-age companies be it technology pioneers innovators and ground-breaking disruptors. "The investment objective of the scheme is to generate capital which invests into such companies that utilize new forms of production, technology, distribution or process which are likely to significantly challenge existing markets and value networks, displace established market operators, products and/or business models," it said in a press release. And, it will invest in companies which are either listed or unlisted too. It’s not usual for <a href="https://www.businessinsider.in/mutual-funds-types-in-india/articleshow/69285779.cms">mutual funds</a> to invest in unlisted companies since they balance exposure between equity and debt securities. Kotak Pioneer Fund, on the other hand, will be looking to invest in unlisted equities that fall within the guidelines stipulated by market regulator, the Securities Exchange Board of India (<a href="https://www.businessinsider.in/topic/sebi">SEBI</a>). But, this fund has an underlying requirement. These startups or companies have to either be working on a new a new product, a new process, a new application of an existing process or a new way to reach out to customers — something the fund puts under the umbrella on ‘pioneering innovations’. The new fund will be managed by Harish Krishnan, the Senior Vice President and Equity Fund Manager at Kotak Mutual Fund. It has opened for subscription today, October 9, and will close on October 23. "Kotak Pioneer Fund will follow a thematic approach of investing in companies that have a proven track record of multiple revenue streams, resulting in improved customer salience," said Krishnan. High-risk bets on innovation According to <a href="https://www.businessinsider.in/topic/Kotak">Kotak</a>, the fund is recognising that business models are quickly changing in today’s economic climate. It proposes that companies that innovate and adapt to the changing environment, are more likely to succeed in the future. The aim is to bring more companies on board that are looking to apply new forms of production, technology, distribution or processes that will challenge the existing status-quo in the markets. A <a href="https://corpgov.law.harvard.edu/2017/02/26/should-mutual-funds-invest-in-startups/">University of Utah</a> <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2911394">study</a> notes that mutual fund investments in startups pose certain concerns for investors, which is why they are uncommon. It states that liquidity can be a concern since as startups don’t trade shares in the stock market. It also points out that valuations of these startups are based on the management’s discretion, as there’s no market price for guidance. And, because of the discretion in valuation, it’s possible that these funds have a greater vulnerability for misconduct. Looking beyond India The Kotak Pioneer Fund won’t exclusively be looking at companies in India, but across the globe. Nearly 35% of the funds raised could be invested in overseas securities or funds. That being said, India recently moved up on the Global Innovation Index from ranking 57th in 2018 to 52nd in 2019. So many Indian startups could gain as well. "The fund is diversified across sectors and stock to achieve risk mitigation and provides diversification across geographies as well," said Krishnan. As much as 80% to 100% of the Kotak Pioneer Fund will make investments in pioneering innovation themes while 20% can be geared towards debt security and equity. See also: <a href="https://www.businessinsider.in/top-20-mutual-funds-in-india-latest-data/articleshow/70256239.cms">The top 20 mutual funds in India and their performance over the last one year</a> <a href="https://www.businessinsider.in/google-pays-new-tactic-to-take-on-rivals-paytm-phonepe-in-india-introduces-digital-gold-offerings/articleshow/68609832.cms">Google Pay wants to offer Indians their favourite investment option – gold</a>

Kotak’s new mutual fund is looking for investors with an appetite for risk to bet on startups

<ul><li>Indian markets have had a volatile one year with Nifty clocking gains of about 10% in the one year ending June 30, 2019.</li><li>While six equity mutual funds performed better than the benchmark, only one of them manged to clock double the growth rate.</li><li>3 of the top 20 equity funds, by assets under management, showed a loss in investor wealth.</li></ul>Indian markets have had a volatile one year with Nifty clocking gains of about 10% in the one year ending June 30, 2019. Only six mutual funds performed better than the benchmark. And only one of them, the ICICI Pru Value Discovery Fund, managed to clock double the growth rate compared to Nifty and Sensex. The following is the list of top 20 schemes in descending order of assets under management at the end of June 2019, and the change in value compared to June 30, 2018. <table style="width: 400pt;"> </colgroup></colgroup> <tbody><tr> <td class="xl67" style="height:31.5pt;width:200pt">Rank</td> <td class="xl68" style="border-left-width: initial; border-left-style: none; width: 200pt;">Gains in the last one year</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 200pt;">Kotak Standard Multicap Fund </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">10.80%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">HDFC Equity Fund </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">18.30%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">SBI Blue-Chip Fund </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">7.80%</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 200pt;">HDFC Midcap Opportunities Fund </td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">-0.90%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">ICICI Pru Blue-Chip Fund </td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">9%</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 200pt;">Aditya Birla SL Frontline Equity Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">6.20%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">AXIS Long Term Equity Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">6.70%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">HDFC Top 100 Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">18.30%</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 200pt;">ICICI Pru Value Discovery Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">21.90%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">Mirae Asset Large Cap Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">12.10%</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 200pt;">Motilal Oswal Multicap 35 Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">2.60%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">Reliance Large Cap Fund</td> <td class="xl71" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">14%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">Franklin India Equity Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">2.40%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">Aditya Birla SL Equity Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">4.40%</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 200pt;">Reliance Tax Saver ELSS Fund</td> <td class="xl70" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 200pt;">2.90%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">Reliance Multicap Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">15.20%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">UTI Equity Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">2.50%</td> </tr> <tr> <td class="xl69" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 200pt;">Aditya Birla SL Tax Relief'96</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-0.50%</td> </tr> <tr> <td class="xl69" style="height: 30pt; border-top-width: initial; border-top-style: none; width: 200pt;">Franklin India Focussed Equity Fund</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">14.40%</td> </tr> <tr> <td class="xl72" style="height: 15.75pt; border-top-width: initial; border-top-style: none; width: 200pt;">HDFC Small Cap Fund</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-2.10%</td> </tr></tbody></table> Mutual funds -- a pool of money collected from many investors to invest in stocks, bonds, money market instruments, and other assets-- in India ended June 2019 with record money under management. The inflow into these funds were ₹107 billion, the highest in the last seven months. People invest in mutual funds in India for financial security, to grow their wealth as well as to save on taxes. The Indian government allows a rebate on income tax on money invested in mutual funds up to a maximum of ₹150,000 a year to every individual under section 80C of the Income Tax Act. The amount of money coming into mutual funds had slowed down in the last few months as investors became wary of betting more money in the market for a variety of reasons-- from slowing economy to the risk of elections to growing global tensions, both geopolitical and economic. People who have been investing in systematic investment plans -- small monthly investments-- continued their practice. However, new signings have been lower four out of the last six months showing that there is still palpable fear among investors. SEE ALSO: <a href="https://www.businessinsider.in/videos/business/unhappy-with-salary-hikes-market-expert-nilesh-shah-explains-a-good-way-to-evaluate-your-appraisal/videoshow/70037563.cms" data-type="tilCustomLink" target="_blank">Unhappy With Salary Hikes? Market Expert Nilesh Shah Explains A Good Way To Evaluate Your Appraisal</a> Correction: The data and inference had multiple errors in the earlier version of the story which have now been fixed.

The top 20 mutual funds in India and their performance over the last one year

In the race to acquire the fund management business of <a href="http://www.businessinsider.in/searchresult.cms?query=Goldman+Sachs+Group+">Goldman Sachs Group</a> Inc in India, <a href="http://www.businessinsider.in/searchresult.cms?query=Reliance+Mutual+Fund+">Reliance Mutual Fund</a> and <keyword id="45123" type="CITY" weightage="100" keywordseo="HDFC">HDFC</keyword> Mutual Fund are trying hard. 
 
According to a person familiar with the development, both the suitors are in the final round of negotiations and hope to clinch the deal. “However, it depends on who is more aggressive," said one of them. The deal is likely to be announced shortly,” he said. 
 
The Goldman’s MF business has assets of about Rs 7,132 crore. 
 
Let’s take a look at the profile of both the suitors! 
 <keyword id="106417" type="ORGANIZATION" weightage="100" keywordseo="Reliance-Mutual-Fund">Reliance Mutual Fund</keyword>, which had assets under management of Rs 1.53 lakh crore on September 30, is likely to bid aggressively as it looks to bridge the gap with number two <a href="http://www.businessinsider.in/searchresult.cms?query=ICICI+Mutual+Fund+">ICICI Mutual Fund</a> that manages about Rs 1.65 lakh crore. 
 
On the other hand, HDFC Mutual Fund is looking at consolidating its number one position with assets of Rs 1.71 lakh crore. 
 
"The deal is expected to be valued at about 3-4% of AUM (<a href="http://www.businessinsider.in/searchresult.cms?query=ICICI+Mutual+Fund+">assets under management</a>). With an AUM of Rs 7,132 crore, the transaction value should be around Rs 250 crore," said another person who is aware about the development. 
 
Besides adding Rs 7,132 crore of AUM, a deal would also help the acquirer gain a foothold in the <a href="http://www.businessinsider.in/searchresult.cms?query=exchange-traded+fund+%28ETF%29+business+">exchange-traded fund (ETF) business</a> that is growing in popularity with local investors, mirroring global trends. 
 
ETFs have been witnessing sustained growth in markets such as the US in the past decade. 
 But for India, the ETF market is relatively new. <keyword id="6361649" type="CITY" weightage="100" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> Mutual Fund, which has 13 schemes, is primarily focused on the ETF segment. It has seven equity-oriented ETFs, one liquid ETF, one gold ETF, one international ETF, two equity schemes and an open-ended debt scheme. About 95% of its assets are in ETFs. 
 
Goldman Sachs Mutual Fund was awarded a central government mandate last year to sell the Central Public Sector Enterprise ETF. The government sold a part of its stake in state-run companies through an ETF for the first time, raising Rs 4,000 crore by disposing of shares in 10 state-controlled companies. 
 
Goldman Sachs entered the Indian mutual fund industry in 2011 by acquiring Benchmark Mutual Fund for Rs 120 crore. 
 "The (likely) exit of Goldman Sachs from the asset management business conclusively proves that the foreign <keyword id="109711" type="POSITION" weightage="40" keywordseo="Fund-manager">fund manager</keyword>s are finding it difficult to make inroads into the Indian investors' mind space," said a fund manager with a leading foreign fund. 
 He said: "In the last few years, we have witnessed the exit of Fidelity, PineBridge, <keyword id="48670" type="CITY" weightage="100" keywordseo="Morgan-Stanley">Morgan Stanley</keyword>, ING among others." 
 
Foreign firms are finding it difficult to compete against local companies such as HDFC, ICICI, Reliance, Birla and UTI, except for outfits such as Blackrock and Franklin Templeton. 
 
Dhirendra Kumar, founder and CEO of Value Research, is of the view that foreign fund managers find it difficult to navigate India's investment landscape. Value Research is an independent mutual fund research house. 
 
In 2014, PineBridge Mutual Fund sold its domestic mutual fund schemes to Kotak Mahindra AMC, Morgan Stanley sold its domestic MF business to HDFC AMC and ING MF was acquired by Birla Sun Life AMC. In 2012, L&amp;T Finance acquired Fidelity's mutual fund business in India. 
 
(Image: Indiatimes)

Who will buy Goldman’s MF business in India?  Reliance Mutual Fund or HDFC

<ul><li>The campaign talks about ETW Approach (E- Easy to invest, T - a taxing saving investment, W – helps in long term wealth creation).</li><li>It has been conceptualized and creatively led by Mirum India.</li></ul><keyword id="112970" type="General" weightage="20" keywordseo="axis-mutual-fund" source="Orion">Axis Mutual Fund</keyword>, one of the country’s leading <keyword id="6354820" type="General" weightage="20" keywordseo="mutual-fund" source="Orion">mutual fund</keyword> houses, unveiled its new campaign for the upcoming tax season called #ELSSHaiNa. The investor education campaign aims to reiterate the importance of investing in ELSS (Equity Linked Savings Schemes that offer tax benefits under section 80C of the Income Tax Act) as a preferred and hassle-free option to save on tax. One of the most crucial mistakes that most investors make is that they leave tax planning for the last minute. Towards the end of the year, people realise that they need to invest in the right financial instruments to save tax but aren’t able to choose the right one. One can often hear the phrase “Tax ka kya socha hai?” and conversations around it gain momentum as investors rush to understand how can they save tax or how much time is left to make the right investment or even what are the right instruments to invest in! Chandresh Nigam, MD &amp; CEO, Axis AMC said, “At Axis AMC, we have always upheld the importance of Responsible Investing. As money managers, it is our duty to not only educate investors about the significance of investing in quality assets over the long term but also help them grow wealth while saving on tax in an efficient manner. ELSS is an option that is known to all investors. But without having spent the adequate time to optimize the right tax planning solution, investors often make hasty decisions and miss out on the most logical and easy option.” The new campaign by Axis Mutual Fund builds on the insight that the tax season can be anxiety-inducing, only if you have not planned well in advance. Through a series of three films, #ELSSHaiNa aims to make investors realise that at any given point in their lives, investing in ELSS for tax saving should be a ‘no-brainer’ option. The films use humour as a tool to highlight how planning for tax via ELSS is simple and hassle free. In the first film, the protagonist is aware that he needs to plan for the tax saving season. He has taken the advice of several people around him but has still reached no desirable solution. <div type="Youtube" id="JwaLZz_U0QU" title="Tax savings ke liye sochna kya hai, #ELSSHaiNa!" thumbUrl="https://i.ytimg.com/vi/JwaLZz_U0QU/mqdefault.jpg"></div> In the second film, a newly married couple is can’t seem to decide on their honeymoon destination despite the multiple suggestions by their family members. <div type="Youtube" id="Qp9H3uQ-V-g" title="Iss tax season sochna kya hai, #ELSSHaiNa!" thumbUrl="https://i.ytimg.com/vi/Qp9H3uQ-V-g/mqdefault.jpg"></div> On the other hand, in the third film, the key character is confused over what to gift an extended cousin for their wedding. <div type="Youtube" id="XR8764psAN8" title="When it's about tax-saving, tab sochna kya hai, #ELSSHaiNa!" thumbUrl="https://i.ytimg.com/vi/XR8764psAN8/mqdefault.jpg"></div> All three films tie back to the proposition that all these aforementioned decisions seem worrying at best. But, when it comes to tax planning, “Sochna Kya Hai?”, because “#ELSSHaiNa”. Raghav Iyengar, Chief Business Officer, Axis AMC asserted, “Thanks to the continued efforts by MF industry, ELSS has started to gain widespread acceptance amongst the investor community. However, tax planning is still viewed as a strenuous and chaotic task. We need more awareness initiatives and campaigns such as ours, will be instrumental in connecting with the wider masses. The three distinct narratives of #ELSSHaiNa focus on capturing investment sentiment across age categories, genders, geographies. Furthermore, Axis Mutual Fund’s 360-degree approach for the campaign will leverage the power of digital, TV, radio, and the print medium to resonate and engage with the target audience.”

Axis Mutual Fund’s investor awareness campaign aims to reiterate the importance of investing in ELSS

<ul><li><keyword id="8536595" type="UNKNOWN" weightage="20" keywordseo="Tata-Quant-Fund">Tata Quant Fund</keyword> is India’s first fund that claims it can beat the market using artificial intelligence by cutting out human bias. </li><li>Business Insider spoke to <keyword id="1124629" type="PERSON" weightage="20" keywordseo="Utpal-Sharma">Utpal Sharma</keyword>, the Head of Business Analytics at Tata Asset Management about how the fund works and how it would react in case of unpredictable events — like wire.</li><li>Sharma also explains why the Tata Quant Fund doesn’t use National Language Processing (NLP) and what the main challenges are in using AI for predicting the market.</li></ul>Your next mutual fund might be managed by an AI algorithm instead of a man in a suit. But it is not a very new concept. In fact, there are already plenty of funds using AI in the US and Europe. India is joining the trend with <keyword id="1515303" type="COMPANY" weightage="20" keywordseo="Tata-Mutual-Funds">Tata Mutual Funds</keyword> launching its first AI-driven quant fund based on the BSE 200 index. Instead of having fund managers analyse market trends to pick the best stocks, a combination of rule-based algorithms picks the winners and losers. Some, like the $54 billion Pangora Asset Management Quant Fund, even use natural language processing (NLP) to keep tabs on traders to predict upcoming market trends. "We have tried that, we didn’t get much of a lift from using that data. So, currently, we are not reading opinions and we’re not reacting to events. We have got structured data in place and making calls based on that structured data," Utpal Sharma, the Head of Business Analytics at Tata Asset Management told Business Insider. But, human intervention comes with its own set of advantages like experience, the ability to understand complex problems and instinct. And, Indian markets — since they are a part of a developing economy — can sometimes be unpredictable. "In our structure, though we are machine-driven, we have a fund manager. In the event of something seriously very different from what has happened in the past years occurs — like a war — he can intervene," explained Sharma. Why do we want to remove human judgement? One of the primary reasons to use AI to beat the market is to remove human bias from affecting choices. But it’s not that easy to measure what needs to be left out. "It’s very hard to pinpoint how human biases impacted what performances by quantum. That’s not something that we measured. We definitely think if you do it in a systematic manner where you are eliminating judgements which are not completely objectively, which are not non-deterministic," said Sharma. Using AI to beat the market Tata Mutual Funds plans to use artificial intelligence (AI) and machines learning (ML) to beat the market. It is India’s first mutual fund to offer an AI-driven investment strategy. Even though the fund may not know how to react to a situation like an unexpected war, that’s not a day-to-day occurrence. For normal events like policy changes, budget declarations and earnings, the model is geared to predict how the market will react — and figure out how to beat it. It relies on data from the past 22 years to forecast how the market will move and they claim that they’ve been testing the model since 2011. "Yes [it will beat the market]. So our index is the BSE 200. Our objective would be to deliver better results than the index. The index itself has generated around — from January to December — 10.25 per cent. Our objective is to do better than those returns," he said. However, not every quant fund is a story of success. The AI Global Equity Fund managed by Aberdeen Standard Investment underperformed in comparison to the market. The explanation offered by the fund manager was that financial market data is finite and that algorithms can only learn so much from past data. "We got two models. One which chooses the best portfolio to invest in, in the coming period. Another model which predicts whether the absolute direction is positive or negative. When we combine them, we have the ability to participate in uptrending markets while avoiding markets which are headed downwards," said Sharma. The model makes its predictions on a monthly basis and is retrained every six months, learning from past events. "We have tried this for different frequencies of relearning and tweaking the model based on recent data. We found that when we take six months incremental data and rebalance or readjust our models, that when we see the best results," explained Sharma. See also: <a href="https://www.businessinsider.in/tech/news/artificial-intelligence-in-2020-needs-to-be-about-ethics-in-india/articleshow/72935214.cms">Rise of the machines: 2020 will be a good year for India to teach AI some ethics</a> <a href="https://www.businessinsider.in/tech/news/india-wants-to-be-on-the-cusp-of-artificial-intelligence-but-lacks-the-laws-to-back-it-up/articleshow/72349825.cms">India wants to be on the cusp of artificial intelligence but lacks the laws to back it up</a> <a href="https://www.businessinsider.in/tech/enterprise/news/5g-airports-ai-powered-safe-cities-and-many-more-that-huawei-has-on-offer-at-the-india-mobile-congress-2019/articleshow/71591351.cms">5G airports, AI-powered safe cities and many more that Huawei has on offer at the India Mobile Congress 2019</a>

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