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Top Mutual Fund Schemes: You must have heard about stocks that have doubled investors’ wealth in just 12 months. Do you know that at least eight mutual funds schemes have rallied over 100% in the last one year despite looming uncertainty over the Covid-19 pandemic?
With a jump of nearly 160% in net asset value (NAV), the Quant Small Cap Regular scheme has emerged as the top gainer in the list, according to data available with Value Research. Sectorwise, the mutual fund has given maximum weightage to chemicals, healthcare, FMCG and technology.
In terms of stocks, the mutual fund has given 8.59% weightage to Stylam Industries, followed by Neuland Labs (6.22%), Tata Steel Long Products (5.12%) and Tata Elxsi (5.02%). Only regular plans have been considered for this article.
Overall, market sentiment remained buoyant on Dalal Street in the past one year. Going with market analysts, sustained inflows by foreign institutional investors and liquidity measures taken by central bank and government-aided the rally. As a result, the benchmark BSE Sensex, BSE Midcap and BSE Smallcap indices have gained 52%, 68% and 90%, respectively, since April 19 last year.
ICICI Prudential Technology (up 134.89%) and ICICI Prudential Commodities (up 130.27%) too delivered stellar returns. ICICI Prudential Technology mainly invest in shares of companies from the information technology sector. As of March 21, the fund held players like Infosys with a weightage of 21.64%, Tata Consultancy Services (7.40%) and HCL Technologies (7.11%).
On the other hand, ICICI Prudential Commodities has given over 60% weightage to the metal sector, followed by energy (13.74%) and chemicals (7.89%). The fund held stocks like Tata Steel, Jindal Steel and Power, Hindalco, Vedanta, Jindal Stainless, SAIL and Godawari Power & Ispat.
Commenting on the performance of his funds, S Naren, ED and CIO, ICICI Prudential AMC said, “The performance of ICICI Prudential Technology fund over the past one year has been largely on account of the robust returns generated by mid and small cap technology companies of which the portfolio had a sizeable exposure to. The companies which were a part of the portfolio gained due to the spike in demand for digital services as work from home began.”
He further added that ICICI Prudential Commodities Fund was overweight metals and mining names. The sector was at the bottom of its cycle towards the start of FY21. “We were of the view that driven by global fiscal and monetary stimulus to create job and revive economy, there could be a strong demand for metals Also, there has hardly been any fresh investment here since the last 5 years. This meant that supply may not be able to catch up with demand, driving metal prices higher. This thesis on the metals played out very well in FY21 which propelled the fund performance.”
Quant Infrastructure (up 118.94%), Tata Digital India (up 113.87%), ABSL Digital India (up 112.53%), Quant Tax (105.04%) and Kotak Smallcap (up 105%) stood out among other major schemes which delivered over 100% returns to investors during the past one year.
(Disclaimer: Past performance is no guarantee of future results. Consult your financial advisor before taking any position in the above-mentioned funds)