Before investing in a mutual fund scheme, investors weigh a number of pros and cons. They usually look at the scheme’s category, macroeconomic factors, reputation of the fund house, and importantly – the past performance of that particular scheme vis-à-vis others in the same category.
Here we take a look at some of the top-performing flexi cap mutual funds in the past five years. But before we proceed, let us understand what flexi cap funds are.
The capital markets regulator Sebi introduced Flexi cap mutual funds as a category in November 2020. These schemes are mandated to invest a minimum of 65 percent of assets in equity & equity-related instruments.
These funds refer to an open-ended dynamic equity scheme investing across large cap, mid cap and small cap stocks.
There are 35 mutual fund schemes in this category with net assets under management (AUMs) of ₹2.80 lakh crore, as on July 31, 2023, against ₹2.31 lakh crore a year ago.
| Flexi cap funds | 5-year-returns (%) |
| HDFC Flexi Cap Fund | 15.40 |
| JM Flexicap Fund | 16.26 |
| Parag Parikh Flexi Cap Fund | 17.76 |
| PGIM India Flexi Cap Fund | 15.79 |
| Quant Flexi Cap Fund | 22.15 |
(Source: AMFI, data as on Sep 4)
As we can see in the table above, the highest annualised return of 22.15 percent was given by Quant Flexi Cap Fund whereas the lowest return of 15.40 percent was delivered by HDFC Flexi Cap Fund.
Now, we share more details on these top-performing flexi cap mutual fund schemes:
HDFC Flexi Cap Fund: It was launched on Jan 1, 1995. The scheme has given an annualised return of 18.61 percent since its inception. Its assets under management (AUMs) are ₹39,395 crore. The fund’s key constituent stocks are ICICI Bank, HDFC Bank, State Bank of India, NTPC and Cipla.
JM Flexicap Fund: It was launched on Sept 23, 2008 and has given an annualised return of 13.68 percent per annum. It is a small fund and has an AUMs of ₹553.6 crore
The key constituent stocks in the fund are L&T, REC, HDFC Bank, RIL and Infosys.
Parag Parikh Flexi Cap Fund: It was launched on May 24, 2013 and has delivered an annualised return of 18.56 percent since inception.
The key constituent stocks are Clearing Corporation of India, HDFC Bank, ITC, Bajaj Holdings & Investment and ICICI Bank. The total assets under management (AUMs) are ₹39,848 crore.
PGIM India Flexi Cap Fund: It was launched on March 4, 2015 and has given an annualised return of 13 percent since inception. The key constituent stocks are ICICI Bank, HDFC Bank, RIL, Infosys and Clearing Corporation of India.
Quant Flexi Cap Fund: It was launched on Aug 28, 2008 and gave an annualised return of 14.13 percent since inception. The key constituent stocks are Treps RIL, HDFC Bank, Tata Steel, DLF. The fund has an AUM of ₹1,782 crore.
