Year Ender 2024:Top Performing Large-Cap Mutual Funds of 2024: Returns Above 20%

In 2024, large-cap mutual funds have delivered impressive returns, with several funds surpassing the 20% mark. As investors continue to seek stable, long-term growth, funds like Invesco India Largecap and WhiteOak Capital stand out for their strong performance. This article highlights the top-performing large-cap mutual funds and provides a snapshot of the overall growth in the Indian mutual fund industry, alongside the performance of key market indices like Nifty 50 and Sensex.

Top Performing Large-Cap Mutual Funds of 2024 Based on 1-Year Return

Below is the list of large-cap mutual funds that offered returns above 20% in 2024:

Note: The large-cap mutual funds list provided here is as of December 11, 2024. The funds are sorted based on the 1-year absolute returns, and the data is sourced from Tickertape Mutual Fund Screener. 

Overview of Top Performing Large Cap Mutual Funds

1. Invesco India Largecap Fund

The Invesco India Largecap Fund-Growth is an equity large-cap fund with a NAV of ₹70.02 as of December 10, 2024. It has an expense ratio of 2.09%, slightly higher than the category average of 0.86%. The fund manages assets worth ₹1,316.74 crore as of September 30, 2024, accounting for 0.24% of investments in the category. It requires a minimum investment of ₹1,000, with the same amount applicable for additional investments, while SIPs can start at ₹100. Notably, this fund does not levy any exit load.

Trailing Returns (as of Dec 2024)

2.WhiteOak Capital Large Cap Fund

The WhiteOak Capital Large Cap Fund – Regular Growth Plan is an equity mutual fund that focuses on large-cap investments, offering potential long-term wealth creation for investors. As of December 10, 2024, the fund’s Net Asset Value (NAV) stands at ₹14.86. Its Assets Under Management (AUM) is ₹634.80 crore (as of September 30, 2024), reflecting its market positioning within the category.

The fund has a expense ratio of 2.32% (as of November 30, 2024) compared to the category average of 0.86%. Additionally, it imposes an exit load of 1% if redeemed within 1 month, ensuring alignment with investors aiming for longer-term goals. Investors can start with a minimum investment of ₹500 or set up a Systematic Investment Plan (SIP) with a minimum of ₹100.

Trailing Returns (as of Dec 2024)

3.Baroda BNP Paribas Large Cap Fund

The Baroda BNP Paribas Large Cap Fund-Growth, as of December 10, 2024, has an NAV of ₹224.40. This equity large-cap fund has an expense ratio of 2.00%, higher than the category average of 0.86%. With a fund size of ₹2,348.71 crore, it has delivered strong returns across various time frames. The trailing returns for the fund are 29.77% for 1 year, 18.28% for 3 years, and 18.56% for 5 years, outperforming the category averages in all these periods.

The fund charges an exit load of 1% if redeemed within 30 days. The minimum investment required is ₹5,000, and an SIP starts at ₹500. 

Below are the trailing returns for the Baroda BNP Paribas Large Cap Fund over different durations:

4. Bandhan Large Cap Fund 

As of December 11, 2024, the NAV of the Bandhan Large Cap Fund (Regular-Growth) stands at ₹76.79. This fund, categorised under Equity: Large Cap, has an AUM of ₹1,759.53 crore as of September 30, 2024. The fund’s expense ratio is 2.06%, which is above the category average of 0.86%. The fund attracts an exit load of 0.5% if redeemed within 30 days.

The fund ranks 43rd within its category for 1-year and 3-year returns and 28th for 5-year returns. The minimum investment for this fund is ₹1,000, with an additional investment of ₹1,000 and a minimum SIP amount of ₹100.

The trailing returns over various periods are as follows:

5. JM Large Cap Fund

As of December 11, 2024, the JM Large Cap Fund has an NAV of ₹161.49 for its Growth option under the Regular plan. The fund falls under the Equity: Large Cap category, with a current AUM of ₹495.06 crore. The expense ratio for this fund is 2.36%, higher than the category average of 0.86%.

The fund’s exit load is 1% if redeemed within 30 days, and the minimum investment required is ₹1,000, with additional investments starting from ₹100. The fund ranks well within its category, with a rank of 49 for 1-year returns, 28 for 3-year returns, and 22 for 5-year returns.

Growth of the Indian Mutual Fund Industry

As of November 30, 2024, the average Assets Under Management (AAUM) of the Indian mutual fund industry stood at ₹68.05 trillion. The total AUM for the industry on the same date was ₹68.08 trillion. This marks a significant growth, with the AUM increasing from ₹10.90 trillion in 2014 to ₹68.08 trillion in 2024, more than a 6-fold rise over the past decade. In the last 5 years, from 2019 to 2024, the industry’s AUM has doubled from ₹27.05 trillion to ₹68.08 trillion.

The industry reached several important milestones over the years. In May 2014, the AUM crossed ₹10 trillion for the first time, and by August 2017, it had crossed ₹20 trillion. In November 2020, the AUM surpassed ₹30 trillion, and now, in 2024, it stands at ₹68.08 trillion.

Additionally, the mutual fund industry achieved a milestone of 10 crore folios in May 2021. As of November 30, 2024, the total number of folios has risen to 22.08 crore (220.8 million), with about 17.55 crore folios (175.5 million) in Equity, Hybrid, and Solution-Oriented schemes, where most of the investments come from the retail sector.

Nifty 50 and Sensex: Tracking Their Growth

Nifty 50

As of December 11, 2024, the Nifty 50 is at 24,650.55, showing a rise of 2,908.65 points (13.38%) since the start of the year. Compared to the same date last year, the index has gained 3,654.90 points (17.41%), reflecting strong annual growth.

In the past month, the Nifty 50 increased by 510.70 points (2.12%), while in the last 6 months, it added 1,387.15 points (5.96%), showcasing steady progress in the latter part of 2024. Over a 5-year period, the index has surged by 12,565.30 points (103.96%), highlighting significant long-term growth potential.

BSE Sensex

The BSE Sensex, a key benchmark of the Indian stock market, reached 81,566.77 on December 11, 2024, recording a gain of 9,294.83 points (12.86%) since January. Over the last year, the index rose by 11,638.24 points (16.64%), emphasising robust annual growth.

In the past month, the Sensex added 2,070.62 points (2.60%), while in the last 6 months, it grew by 5,110.18 points (6.68%), demonstrating consistent upward momentum. Over the past 5 years, the index has climbed by 40,557.06 points (98.90%), showcasing its long-term potential for wealth creation.

Both indices highlight the resilience and growth opportunities in India’s stock market, making them attractive for investors focused on long-term returns.

Conclusion

While the large-cap mutual fund category showed strong returns in 2024, investors must consider their risk tolerance, investment horizon, and financial goals before making investment decisions. Large-cap funds are ideal for conservative investors due to their relatively lower risk, stemming from their investments in top companies that are more resilient in volatile markets. However, it’s important to remember that past performance does not guarantee future results. Always consider these factors before making any investment or redemption decisions.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.