most consistent

3 Most Consistent Large-cap Scheme between 2018-2023

There are 30 large-cap regular equity funds in India. In past five years, between 2018 and 2023, sixteen of these funds have competed for top ten. Only a few funds have manged to remain in the top slot during different point of time. There were only 3 most consistent large-cap have remained on the top position in past six years.

This analysis is based on the 10yr investment period returns of regular fund schemes in the large-cap segment.  For the analysis we took three different years with a gap of atleast two years with the NAV value for all the existing fund schemes in the yearend, the last working day of the year for the analysis.

In the year 2018, eight out of top ten performers had given returns of over 16% for 10yr investment period. This reflects the intense competition and AMCs able to deliver high returns. Mirae Asset Large Cap Fund topped the chart with 21.7% and was way ahead of other players. Surprisingly, only of the top three made it to the most consistent performer list. Three schemes which occupied 2nd, 3rd and 4th rank  fell out of top five positions in 2021 and only one of those three made it to top five in 2023.

In the year 2021, Mirae Asset Large Cap Fund again topped the charts with 18.8% returns while SBI Bluechip Fund and Axis Bluechip Fund were almost neck-to-neck in terms of performance. SBI Bluechip Fund was second with 17.65% and Axis Bluechip Fund third with 17.55%. Only Mirae Asset fund remained consistent performer between 2019 and 2021. In 2023, Nippon India Large Cap Fund topped the charts with 17.08% returns for 10yr investment period. Mirae Asset Large Cap Fund came second with 16.6% and SBI Bluechip Fund was third with 15.9%.

Dec-18 10 Yr return (%) Regular Dec-21 10 Yr return (%) Regular Dec-23 10 Yr return (%) Regular
Mirae Asset Large Cap Fund 21.70 Mirae Asset Large Cap Fund 18.86 Nippon India Large Cap Fund 17.08
ICICI Prudential Bluechip Fund 18.93 SBI Bluechip Fund 17.65 Mirae Asset Large Cap Fund 16.67
HDFC Top 100 Fund 17.83 Axis Bluechip Fund 17.55 SBI Bluechip Fund 15.92
Franklin India Bluechip Fund 17.46 Nippon India Large Cap Fund 17.03 ICICI Prudential Bluechip Fund 15.91
SBI Bluechip Fund 17.34 Aditya Birla Sun Life Frontline Equity Fund 16.62 Baroda BNP Paribas Large Cap Fund 15.41
Nippon India Large Cap Fund 17.30 Baroda BNP Paribas Large Cap Fund 16.40 HDFC Top 100 Fund 15.32

Source: AMFI Data

Most Consistent Large-cap scheme Performers: The three most consistent have been picked from the top six of the top ten performing funds for the period 2018, 2021 and 2023.

Mirae Asset Large Cap Fund: Mirae fund scheme is the most consistent performer in the large-cap mutual fund segment in past six years. It was top performer in 2018 with 16.5% return for 10yr investment period. The scheme retained top slot in 2021 with 18.8% returns for 10yr investment and was way ahead of other players. In Dec 2023, Mirae Asset Large Cap Fund was the second-best performing fund for the year losing out by less than 50 basis points. In past six years, its return on 10yr investment period has remained between 16.5% to 18.8% and it didn’t fall below the level of start period.

SBI Bluechip Fund: SBI fund scheme is the second-best consistent performer for past six years. In 2018, it was ranked at 5th position with 16.07% but lost out three positions due to identical returns by three other funds. In 2021, SBI fund improved its rank to 2nd best performing fund for the year with 17.65% returns for 10yr investment period. By end of 2023, SBI was down to 3rd best fund of the year with 15.9% returns for long-term. SBI remained under top five positions in last six years with close to 16% returns for long-term investment.

Nippon India Large Cap Fund: Nippon is the third most consistent regular long-term fund scheme in the past six years. Nippon was ranked 6th in 2018 but other three top rankers in top five failed to make cut in subsequent years and Nippon fund scheme kept outperforming most of the schemes subsequently. In 2021, Nippon India large cap was ranked 5th best performing scheme for long term. In 2023, Nippon was ranked the best performing regular fund in large-cap segment with 17% returns on 10yr investment period.