Performance Evaluation of Mutual Funds Using Risk Return Relationship Models - An Empirical Study

Purpose: The main purpose of this study is to analyse the performance mutual funds using Risk- Return Relationship Models. Theoretical framework: One India's most important financial intermediaries, can provide a wide range services small and large investors. They are also involved in country's transformation, their market participation has become more important. Evaluating fund's concerns investors, researchers, fund managers. It should be conducted way that helps investors make informed decisions maximize returns. A regular evaluation essential for Design/methodology/approach: 12 growth-oriented been evaluated three Risk Adjusted measures, namely Treynor index, Sharpe Jensen measure. Index, developed by Mazuy (1966), defined measure as ratio returns systematic (Beta). higher better performance. (1964) variability Jensen's (Jensen 1968) regresses excess return with return. Monthly data was used during period from Jan 2015 Dec 2019. Further monthly diversified Equity were compared B.S.E.( Bombay Stock Exchange) national index same period. Findings: identified results have not performed than benchmark indicators except ICICI Multi-asset HDFC mid-cap opportunity terms non-risk adjusted average well Risk-adjusted measures. Research, Practical & Social implications: Fund houses, managers, benefit strong risk management foundation. help them Originality/value: This differs past studies because it examined risk-adjusted few funds, which ultimately may use policymakers enhance these funds.