Top Mutual Funds: New Additions to Moneycontrol's MC30

Moneycontrol’s MC30 list, featuring a curated selection of top mutual fund schemes, has introduced three new entries this year. These include two equity funds from one of India’s major mutual fund houses and a well-established hybrid fund. Here's a closer look at these new additions:

  1. HDFC Flexi-cap Fund: With assets totaling Rs 50,840 crore, the HDFC Flexi-cap Fund (HFF) is one of the largest actively managed equity schemes in India. Launched in January 1995, it has delivered a compounded annual growth rate of 19% since inception. Under the management of Prashant Jain from 2004 to 2022, the fund saw notable success, despite a challenging period from 2015 to 2019. Since Roshi Jain took over in July 2022, she has streamlined the portfolio, reducing the number of stocks from 56 to 41 and shifting focus from energy and industrials to healthcare and real estate.

  2. HDFC Top 100 Fund: The HDFC Top 100 Fund (HT100), originally known as HDFC Top 200, is a prominent large-cap fund that has been a fixture in the mutual fund industry since its launch in September 1996. It is now one of the largest funds in the large-cap category. Historically, the fund experienced volatility, particularly between 2015 and 2019, but has rebounded strongly post-2020. Rahul Baijal, who succeeded Prashant Jain, has since enhanced the fund’s performance by incorporating a blend of growth and value strategies, increasing allocations to healthcare, private sector banks, and telecom.

  3. ICICI Prudential Equity & Debt Fund: The ICICI Prudential Equity & Debt Fund (IEDF) is a leading aggressive hybrid fund with assets of Rs 33,502 crore, making it the second-largest in its category. It has provided a compounded annual return of 18% over the past decade, outperforming the Nifty 50 Total Return Index. Managed by a team of five, including Mittul Kalawadia and Sankaran Naren, the fund’s strategy involves adjusting equity and debt allocations, market cap distributions, and stock selection. Recent strong performances have been driven by sectors like petroleum, hotels, automobiles, and power.

These additions to the MC30 list reflect ongoing trends and strategies within the mutual fund industry, offering investors a blend of historical performance and adaptive management approaches.

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