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| CapitalStars Investment Adviser |
The current rally in the stock market that helped S&P BSE Sensex breach the historic peak has helped equity mutual fund schemes to pocket handsome returns. Eight equity mutual fund schemes gained over 15% in the past one and a half months since the rally started. This surely would bring cheers to investors who had put in Rs 14,251 crore in these schemes.
The benchmark index has moved up by 12% in the last 40 days. The index touched its lifetime record high of 40,392 levels on Thursday.
Quant Active Fund is the top gainer in the last 40 days with 17.86% absolute returns, followed by UTI Transportation and Logistics Fund that gained 17.51%. Nippon India Tax Saver (ELSS) Fund, the second-largest tax-saving or ELSS fund, rose by 16.25% in the same time period. The scheme manages assets worth Rs 9,827 crore.
Other schemes that made quick returns include ICICI Pru Bharat Consumption Fund (16.20%), Quant Infrastructure Fund (16.18%), Quant Mid Cap Fund (15.18%), Quant Tax Plan (15.17%) and DSP Top 100 Equity Fund jumped 15.13%.
ETMutualFunds.com looked at a total of 402 open-ended equity mutual fund schemes, including ETFs and index funds.
There were a few schemes, especially in the technology category, that saw negative returns despite the recent rally in the stock market.
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