29 equity MFs turn Rs 30,000/month SIP to Rs 1 crore in 10 years of Modi government (2024)

Around 29 equity mutual funds have turned Rs 30,000 monthly SIP to Rs 1 crore in the last 10 years of Modi government, an analysis of performance showed. Around 163 equity mutual funds completed 10 years in the market.

Two toppers from Quant Mutual Fund. Quant Small Cap Fund and Quant ELSS Tax Saver Fund turned a monthly SIP investment of Rs 30,000 to Rs 1.54 crore and Rs 1.43 crore in the last 10 years of Modi government.

Nippon India Small Cap Fund, the largest small cap fund based on assets managed, turned monthly SIP of Rs 30,000 to Rs 1.39 crore in the last 10 years and offered an XIRR of 25.59%.

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SBI Small Cap Fund turned monthly SIP of Rs 30,000 to Rs 1.16 crore in the last 10 years of Modi’s government. The scheme gave an XIRR of 22.29% in the same time period.

HDFC Mid-Cap Opportunities Fund, the largest mid cap scheme based on assets managed, turned monthly SIP to Rs 1.09 crore and gave an XIRR of 21.11% in the last 10 years.

SBI Contra Fund, the oldest and largest contra fund, turned a monthly SIP of Rs 30,000 to Rs 1.07 crore in the last 10 years of Modi’s second term. The scheme gave an XIRR of 20.80% in the same time period.

The largest flexi cap scheme based on assets managed, Parag Parikh Flexi Cap Fund, turned monthly SIP of Rs 30,000 to Rs 1.02 crore in the last 10 years of Modi government. The scheme offered an XIRR of 19.79% in the same time period.

There were 10 small cap funds, eight mid cap, three flexi cap, two ELSS, multi cap, and value fund, one contra and large & mid cap funds were there in the said period.

We considered all equity categories. We considered regular and growth options. We calculated the performance between May 16, 2014 and May 31, 2024.

Also Read | These 5 small cap mutual funds gave over 200% returns in five years of Modi 2.0

Note, the above exercise was done to find which equity mutual funds turned monthly SIP of Rs 30,000 to Rs 1 crore in the last 10 years of Modi government. 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 any investment decisions.

(Disclaimer: 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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