Performance of Mutual Funds in India: A Study with Reference to Select Equity Multi-Cap Funds

Indian Mutual Fund Industry has witnessed enormous expansion in terms of growth Assets under Management (AUM), from a meagre Rs. 25 crores 1964 to 36.59 lakh August 2021. Equity Multi-cap mutual funds tend invest stocks companies across the stock market irrespective sector and size. As result, these provide much-needed diversification. In direct plan, investor decides directly without routing investment through any distributor or agent. Due absence an intermediary commission, plan lower expense ratio than regular which leads higher returns.
 Since outbreak COVID-19, markets have experienced extensive crisis with severe dampening effects entire global scenario. It affected as well. However, all negative signs, impact COVID-19 created ray hope towards rebuilding self-confidence for investors during last year this new normal landscape.
 backdrop, present research paper focuses on examining performance plans four open-ended Funds [Baroda Multi-Cap (BMF), ICICI Prudential (IPMF), Invesco India (IIMF) Nippon (NIMF)] based certain parameters. This secondary data-based study covers 8 years (2013-2021). The criterion selecting was net assets above Rs.1,000 31.08.2021. Results reveal that provided double-digit returns period. IPMF NIMF performed poorly remained riskier benchmark Further, riskiest fund throughout IIMF best performer 1-year, 5-year 8-year periods risk-adjusted return. most aggressive BMF defensive managers succeeded quality stock-picking 8-year. miserably period failed picking. RSQ values portray successful diversification