Indian equities have experienced bouts of volatility over the past couple of years, triggered by various headwinds such as unfavourable geopolitical developments, election-related uncertainties in the run-up to the 2024 Lok Sabha elections, inflationary pressures, and trade war scenarios. Even during these volatile market conditions, some equity mutual funds have managed to more than double investors’ capital in the last three years. In this write-up, we have shortlisted as many as 10 funds based on their last 3-year performance. The number one scheme among them has given 32.57% annualised returns over the 3 years.
The fact that these mutual fund schemes have managed to deliver such strong returns makes their performance truly commendable. Here are the 10 equity mutual funds (direct plan) that have more than doubled investments over the past three years.
Top 10 equity mutual funds with over 2x growth in just 3 years
1. Bandhan Small Cap Fund
3-year returns (CAGR): 32.57%
Absolute returns in 3 years: 133.18%
The scheme has grown Rs 1 lakh lump sum investment into Rs 2.33 lakh in 3 years.
3-year annualised SIP returns: 32.19%
A Rs 10,000 monthly SIP investment would have grown to Rs 5.58 lakh if started 3 years ago.
2. Nippon India Power & Infra Fund
3-year returns (CAGR): 31.56%
Absolute returns in 3 years: 127.85%
The scheme has turned Rs 1 lakh lump sum investment into Rs 2.27 lakh in 3 years.
3-year annualised SIP returns: 23.39%
At this rate of SIP returns, a Rs 10,000 monthly investment started three years ago would be worth Rs 4.98 lakh now.
3. ICICI Prudential Infrastructure Fund
3-year returns (CAGR): 31.20%
Absolute returns in 3 years: 126%
The scheme has turned Rs 1 lakh lump sum investment into Rs 2.26 lakh in 3 years.
3-year annualised SIP returns: 24.54%
At this rate of SIP returns, a Rs 10,000 monthly investment would be worth Rs 5.05 lakh now after 3 years.
4. Franklin Build India Fund – Direct Plan
3-year returns (CAGR): 30.92%
Absolute returns in 3 years: 124.57%
The scheme has grown Rs 1 lakh lump sum investment into Rs 2.24 lakh in 3 years.
3-year annualised SIP returns: 25.59%
A Rs 10,000 monthly investment in this fund’s SIP would have grown to Rs 5.12 lakh in 3 years.
5. Motilal Oswal Midcap Fund
3-year returns (CAGR): 30.62%
Absolute returns in 3 years: 123.02%
The scheme has grown Rs 1 lakh lump sum investment into Rs 2.22 lakh in 3 years.
3-year annualised SIP returns: 28.54%
At this rate of SIP returns, a Rs 10,000 monthly investment would have become Rs 5.32 lakh now after 3 years.
6. LIC MF Infrastructure Fund
3-year returns (CAGR): 30.48%
Absolute returns in 3 years: 122.33%
The scheme has turned Rs 1 lakh lump sum investment into Rs 2.22 lakh in 3 years.
3-year annualised SIP returns: 29.21%
At this rate of SIP returns, a Rs 10,000 monthly investment would be worth Rs 5.37 lakh in 3 years.
7. Motilal Oswal Large and Midcap Fund
3-year returns (CAGR): 30.11%
Absolute returns in 3 years: 120.42%
The scheme has turned Rs 1 lakh lump sum investment into Rs 2.20 lakh in 3 years.
3-year annualised SIP returns: 28.66%
At this rate of returns, a Rs 10,000 monthly SIP investment would have become now Rs 5.33 lakh after 3 years.
8. Invesco India Mid Cap Fund
3-year returns (CAGR): 29.57%
Absolute returns in 3 years: 117.68%
The mid-cap scheme has grown Rs 1 lakh lump sum investment into Rs 2.17 lakh in 3 years.
3-year annualised SIP returns: 30.92%
A Rs 10,000 monthly SIP investment started three years ago would be worth now Rs 5.49 lakh.
9. ICICI Pru Pharma Healthcare and Diagnostics Fund
3-year returns (CAGR): 28.83%
Absolute returns in 3 years: 113.97%
The thematic fund would have turned an investment of Rs 1 lakh into Rs 2.14 lakh in just 3 years.
3-year annualised SIP returns: 31.24%
A Rs 10,000 monthly SIP investment made three years ago in this fund would be worth now Rs 5.51 lakh.
10. SBI Healthcare Opportunities
3-year returns (CAGR): 28.34%
Absolute returns in 3 years: 110.49%
The tax-saver scheme has turned Rs 1 lakh lump sum investment into Rs 2.11 lakh in 3 years.
3-year annualised SIP returns: 27.66%
A Rs 10,000 monthly SIP investment would have become Rs 5.26 lakh now after 3 years.
(Source: Value Research)
Past returns do not guarantee future performance
Although these 10 funds have performed exceptionally well in the last 3 years, more than doubling the investment, investors must also understand that these are past returns. Past returns do not guarantee that future returns would be the same. Mutual funds are market-linked and their returns are dependent on market movements.
Disclaimer: The above content is for informational purposes only. Mutual Fund investments are subject to market risks. Please consult your financial advisor before investing.