These 10 mutual funds gain more than 75% after the market crash

Published: August 30, 2020 at 12:53 pm

It seems incredulous to think that the Nifty was 12,174 on 13th Feb and fell 37.5% over the next 39 days to 7610 on March 23rd. Then over the next 158 days, it gained 53% to close at 11647 on Aug 28th 2020. These are 10 mutual funds (from 9 categories) that have moved up by more than 75% in this 158 day period.

With the full benefit of hindsight, we know (as of now) that March 23rd is the current bottom. So the 158-day return of 890 funds across 40 fund categories was compared. First, we consider the benchmark returns over this period. Kindly note that these numbers should not be construed as investment advice. They are provided only for the purpose of information and observation.

Nifty Pharma gained 81% and S&P BSE Health Care  75.6% (both total return indices lead the pack). Nifty Smallcap 100 – TRI gains 74% and Nasdaq 100 (in USD) 70%. The top ten is tabulated below.

Benchmark158 Day return as on 28th Aug 2020
NIFTY PHARMA – TRI81.1
S&P BSE Health Care – TRI75.6
Nifty Smallcap 100 – TRI74.5
Nasdaq-10070.2
S&P BSE 250 Small Cap – TRI69.6
S&P BSE Small-Cap – TRI69.5
S&P BSE METAL Index69.5
Nifty Smallcap 250 – TRI69.4
S&P BSE Information Technology – TRI63.8
S&P BSE 400 MidSmallCap Index – TRI62.5

In a welcome development, two equal-weighted indices gained more than their corresponding capitalization-weighted indices. This might reduce the market imbalance we have been witnessing since Feb 2018. See: after the market crash, 80% of active large cap funds outperform Nifty, Nifty 100. Also see: Is this market rally bad for equity mutual funds (active/passive)?

Benchmark158 Day return as on 28th Aug 2020
NIFTY 50 Equal Weight Index55.7
NIFTY 5053.0515
NIFTY 100 Equal Weight Index – TRI56.2
NIFTY 100 – TRI53.5

Note: in the above table, price return is used for the Nifty 50 indices. The worst affected index was Nifty 50 Arbitrage Index with a -0.03% change. See: Arbitrage mutual fund returns reduce due to negative spreads. Other notable index movements are given below.

Benchmark158 Day return as on 28th Aug 2020
S&P 50055.7
NIFTY 500 – TRI55.2
NIFTY NEXT 50 – TRI51.8
NIFTY MNC – TRI48.9
NIFTY BANK – TRI45.0

The Gold-London AM price moved up 29.7%. These are the changes in debt and hybrid indices.

Benchmark158 Day return as on 28th Aug 2020
CRISIL Short Term Debt Hybrid 60+40 Fund Index24.0
CRISIL Short Term Debt Hybrid 75+25 Fund Index17.3
CRISIL Hybrid 85+15 – Conservative Index13.4
Crisil Composite Bond Fund Index7.3
Crisil Short Term Bond Fund Index6.8
Crisil 1 Yr T-Bill Index3.0
Crisil Liquid Fund Index2.2
Crisil 10 Yr Gilt Index2.1
Crisil 91 Day T-Bill Index2.0
Nifty 10 yr Benchmark G-Sec Index1.5
Nifty 1D Rate Index1.2

10 mutual funds gain more than 75% after the market crash

Scheme Name158 Day return as on 28th Aug 2020
Quant Small Cap Fund(G)-direct Plan101.4
DSP World Gold Fund(G)-Direct Plan90.6
Quant Tax Plan(G)-Direct Plan85.7
Edelweiss US Technology Equity FOF-(G)-Direct Plan82.6
ICICI Pru Technology Fund(G)-Direct Plan81.7
ICICI Pru Commodities Fund(G)-Direct Plan81.2
Quant Active Fund(G)-Direct Plan79.8
Quant Consumption Fund(G)-Direct Plan77.8
ICICI Pru Pharma Healthcare & Diagnostics (P.H.D) Fund-(G)-Direct Plan75.7
DSP Healthcare Fund(G)-Direct Plan75.3

Note that the DSP World Gold Fund is a fund of fund investing in BlackRock Global Funds – World Gold Fund. This invests “at least 70% of its total assets in the equity securities of companies whose predominant economic activity is gold-mining”.

15 equity mutual funds that have gained the least

We wrap up with the bottom 15. It is dominated by gold and hybrid funds with variable asset allocation.

CategoryScheme Name158 Day return as on 28th Aug 2020
Balanced AdvantageITI Balanced Advantage Fund(G)-Direct Plan26.3
GoldICICI Pru Regular Gold Savings Fund(FOF)(G)-Direct Plan24.9
GoldAxis Gold Fund(G)-Direct Plan24.9
Dynamic Asset AllocationSBI Dynamic Asset Allocation Fund(G)-Direct Plan24.9
GoldIDBI Gold Fund(G)-Direct Plan23.6
Large Cap FundJM Large Cap Fund(G)-Direct Plan23.1
Dynamic Asset AllocationShriram Balanced Advantage Fund(G)-Direct Plan21.7
GoldAditya Birla SL Gold Fund(G)-Direct Plan21.7
GoldHDFC Gold Fund(G)-Direct Plan21.2
Balanced AdvantageSundaram Balanced Advantage Fund(G)-Direct Plan21.0
Dynamic Asset AllocationUTI ULIP 10Y-Direct Plan20.3
GoldSBI Gold(G)-Direct Plan19.7
Dynamic Asset AllocationPrincipal Balanced Advantage Fund(G)-Direct Plan19.5
Dynamic Asset AllocationBOI AXA Equity Debt Rebalancer Fund(G)-Direct Plan18.3
Dynamic Asset AllocationAxis Dynamic Equity Fund(G)-Direct Plan17.4
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