Best mutual funds: These 10 flexi cap schemes delivered over 15% annualised return in the past 10 years

If you are toying with the idea of investing in a mutual fund scheme, there are a number of factors that could be playing in your head which may influence your choice. These include the category of scheme, reputation of fund house and the size of fund, among others. What, however, swings the odds in favour or against the scheme is the past performance delivered by it.

We have shortlisted the best performing mutual fund schemes in the flexi-cap category based on their past 10-year performance. We discovered that there are around 10 mutual fund schemes which have given an annualised return of over 15 percent in the past one decade.

This means if someone had invested ₹one lakh in any of these schemes, it would have swelled to over ₹4.04 lakh (based on 15 percent return) by now. For the unversed, a flexi cap scheme is an open-ended dynamic equity scheme which is mandated to invest a minimum of 65 percent in equity and equity-related instruments across large cap, mid cap and small cap stocks.

This category was announced not too long ago via a Sebi circular dated Nov 6, 2020. There are 39 schemes in this category with total assets under management (AUM) amounting to ₹4.29 lakh crore, which is second-highest among equity oriented funds after sectoral/thematic funds which have a total AUM of ₹4.449 lakh crore.

There are over 1.56 crore folios in this category of mutual funds, reveals the AMFI data as on Aug 31, 2024.

Following the launch of this category in Nov 2020, mutual fund houses were even given an option to convert existing schemes into a flexi cap fund. So, the following schemes must be these converted schemes whose 10-year returns are listed below.

(Source: AMFI; Returns as on Oct 4, 2024)

As one can see in the table above, the top-performing schemes included Quant Flexi Cap Fund (21.17%), Parag Parikh Flexi Cap Fund (18.44%) and JM Flexicap Fund (18.5%).

Based on the size of assets, the largest schemes are Parag Parikh Flexi Cap Fund and HDFC Flexi Cap Fund. Meanwhile, it is vital to realise for retail investors that the past performance of mutual funds does not guarantee their future results. 

In other words, historical performance of mutual fund schemes may, or may not, continue in the near term future. So, it is recommended to consider other factors before taking a final call.

Note: This story is for informational purposes only. Please speak to a SEBI-registered investment advisor before making any investment related decision.