The quarterly report, built on five-year data across equity and hybrid categories, urges investors to look beyond flashy performance charts and evaluate how steadily a fund delivers through market cycles.
The September quarter offered a vivid backdrop: record flows into gold and silver ETFs on the back of a global commodity surge, more than ₹1 lakh crore exiting debt funds due to routine quarter-end institutional withdrawals, and a landmark ₹29,361 crore contribution to SIPs, the highest ever.
“Chasing winners is not sustainable,” said Nilesh D Naik, Head of Investment Products at Share.Market. “In a volatile environment, investors who stay disciplined and diversify through steady SIPs are better positioned for long-term wealth creation.”
Major Findings: Consistency beats one-time outperformance
The CRISP Scorecard’s rank-correlation analysis reveals that funds topping the return charts in one period rarely repeat their rank in the next.
Leaderboards reshuffle frequently, making past performance an unreliable predictor.
Instead, the data shows that funds that hold their ground across varying markets—without dramatic highs and lows—tend to offer a more stable investor experience. Steady performers were spotted across styles and market caps:
- Large cap: ICICI Prudential and HDFC funds continued to deliver stable long-term returns with controlled risk.
- ELSS: HDFC, Franklin India and SBI displayed consistent showing despite market volatility.
- Flexi cap: HDFC, Franklin India and JM maintained performance across market conditions.
- Mid cap: Motilal Oswal, Nippon India and Edelweiss emerged among the most consistent.
- Contra/value: HSBC, SBI and Nippon India extended strong, disciplined value-investing records.
- Small cap: Nippon India, HSBC and Tata blended high-growth potential with relative stability.
- Hybrid funds: ICICI Prudential, Edelweiss and UTI led in Aggressive Hybrid; Baroda BNP Paribas, ICICI Prudential and Nippon India showed strength in Balanced Advantage.
Investor behaviour signals rising discipline
Despite short-term volatility and global uncertainty, the report notes that retail investors continue to stay invested, widening the gap between market noise and long-term behaviour.
Elevated SIP flows point to a shift toward process-driven investing rather than chasing momentum.