- Indian markets have had a volatile one year with Nifty clocking gains of about 10% in the one year ending June 30, 2019.
- While six equity mutual funds performed better than the benchmark, only one of them manged to clock double the growth rate.
- 3 of the top 20 equity funds, by assets under management, showed a loss in investor wealth.
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.
| Rank | Gains in the last one year |
| Kotak Standard Multicap Fund | 10.80% |
| HDFC Equity Fund | 18.30% |
| SBI Blue-Chip Fund | 7.80% |
| HDFC Midcap Opportunities Fund | -0.90% |
| ICICI Pru Blue-Chip Fund | 9% |
| Aditya Birla SL Frontline Equity Fund | 6.20% |
| AXIS Long Term Equity Fund | 6.70% |
| HDFC Top 100 Fund | 18.30% |
| ICICI Pru Value Discovery Fund | 21.90% |
| Mirae Asset Large Cap Fund | 12.10% |
| Motilal Oswal Multicap 35 Fund | 2.60% |
| Reliance Large Cap Fund | 14% |
| Franklin India Equity Fund | 2.40% |
| Aditya Birla SL Equity Fund | 4.40% |
| Reliance Tax Saver ELSS Fund | 2.90% |
| Reliance Multicap Fund | 15.20% |
| UTI Equity Fund | 2.50% |
| Aditya Birla SL Tax Relief'96 | -0.50% |
| Franklin India Focussed Equity Fund | 14.40% |
| HDFC Small Cap Fund | -2.10% |
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.
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Correction: The data and inference had multiple errors in the earlier version of the story which have now been fixed.