Top 3 best-performing Flexi cap funds in FY 2024

In the ever-changing landscape of the Indian stock market, Flexi Cap funds have emerged as a popular choice for investors seeking diversification and growth potential. Offering the flexibility to invest across large, mid, and small-cap companies, these funds cater to a range of risk appetites. As we approach the end of FY 2024, let’s explore the top 3 performers in the Flexi Cap category, analysing their returns and funds allocation.

Bank of India Flexi Cap Fund

Bank of India Flexi Cap Fund belonging to the Flexi Cap Fund category and managed by Bank of India Mutual Fund, exhibited a NAV of Rs 31.52 as of March 22, 2024. With a fund size of Rs 683.42 crore, constituting 0.2% of the total investment in its category, the scheme maintains an expense ratio of 0.93%, notably below the category average of 0.75%.

In terms of performance against its benchmark, the S&P BSE 500 TRI, the scheme demonstrated robust growth, outperforming with a significant margin. It recorded a growth rate of 60.12%, surpassing both the benchmark’s growth of 39.15% and the category average of 40.7%. The asset allocation strategy is well-balanced, with 72.88% allocated to equity, 12.99% to debt, and 14.13% to cash and cash equivalents.

The portfolio breakdown showcases a diversified mix, with 43.42% invested in giant-cap companies, 16.74% in large-cap, 30.93% in mid-cap, and 8.91% in small-cap, while no allocation is specified for tiny-cap.

Quant Flexi Cap Fund

The NAV of the Quant Flexi Cap Fund stood at Rs 91.60 as of March 22, 2024. The scheme’s total assets amounted to Rs 4,154.65 crore as of February 29, 2024. With an expense ratio of 0.68%, it positions itself as a cost-effective option for investors seeking growth opportunities.

In terms of performance, the fund outperformed its benchmark, Nifty 500 TRI, with a return of 57.46% compared to the benchmark’s 39.28%. Furthermore, it also surpassed the category average return of 40.37%. The asset allocation of the scheme is well-diversified, with 90.87% in equities, 5.38% in debt, and 3.75% in cash and cash equivalents.

Diving deeper into the portfolio aggregates, the scheme has significant exposure to various market capitalizations, with 35.57% in giant companies, 13.43% in large companies, 39.07% in mid-cap companies, and 11.93% in small-cap companies.

JM Flexi Cap Fund

JM Flexi Cap Fund, managed by JM Financial Mutual Fund, exhibits robust performance with a NAV of Rs 93.7087 (as of March 22, 2024), outperforming its benchmark S&P BSE 500 by 21.94% and surpassing the category average by 17.59%. With a Crisil Rank indicating very good performance among its peers, this fund boasts a significant fund size of Rs 1,656.84 crore, constituting 0.48% of the total investment in the Flexi Cap Fund category. Moreover, investors benefit from a low expense ratio of 0.24%, substantially lower than the category average of 0.75%.

The fund’s asset allocation strategy primarily focuses on equity, with 96.83% invested in equities and 3.17% in cash and cash equivalents. Portfolio aggregates reveal a well-diversified allocation across market capitalizations, with 38.16% in giant companies, 13.88% in large firms, 32.50% in mid-sized enterprises, and 15.46% in small-cap stocks.

Historical returns of the top 3 best-performing Flexi cap funds of FY 2024:

Data as of March 22, 2024

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.