7 equity mutual funds multiply lumpsum investments by over 2x in 3 years

Seven equity mutual funds have more than doubled investors’ lumpsum investments over the past three years. During the same period, there were nearly 233 funds, with the rest multiplying investments between 1.06 times and 2.18 times.

Bandhan Small Cap Fund, the top performer on the list, grew a lumpsum investment by 2.18 times in the last three years. In other words, a Rs 1 lakh investment made three years ago in the fund would now be worth Rs 2.17 lakh, reflecting a CAGR of 29.59%.


This small-cap fund was followed by two mid-cap funds. Invesco India Midcap Fund and Motilal Oswal Midcap Fund multiplied the same lumpsum investment by 2.11 times and 2.09 times, respectively, delivering XIRRs of 28.16% and 27.79% over the last three years.

ITI Small Cap Fund grew a Rs 1 lakh investment by 2.04 times to Rs 2.04 lakh, with a CAGR of 26.88% during the same period.

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Motilal Oswal Large & Midcap Fund multiplied a Rs 1 lakh investment by 2.03 times in three years, turning it into Rs 2.03 lakh, with a CAGR of 26.62%.

Invesco India Smallcap Fund increased a Rs 1 lakh investment to Rs 2.01 lakh, reflecting a CAGR of 26.18% in the last three years.

Next on the list, HDFC Mid Cap Fund doubled a lumpsum investment over the same period, with a CAGR of 25.94%.

Other Equity Funds

Invesco India Large & Mid Cap Fund and Quant Small Cap Fund multiplied investments by 1.97 times each in the last three years. The largest small-cap fund, Nippon India Small Cap Fund, grew investors’ lumpsum by 1.91 times, followed by three other funds that achieved the same multiple.

The oldest ELSS fund, SBI ELSS Tax Saver Fund, multiplied investments by 1.90 times, delivering a CAGR of 23.78%.

Two ICICI Prudential Mutual Fund offerings, ICICI Pru Midcap Fund and ICICI Pru Focused Equity Fund, multiplied investments by 1.82 times and 1.81 times, respectively.

Finally, the oldest and largest contra fund, SBI Contra Fund, multiplied a lumpsum investment by 1.76 times, yielding a CAGR of 20.63% over the three-year period.

Parag Parikh Flexi Cap Fund, the largest active and flexi-cap fund, multiplied a lumpsum investment by 1.74 times, delivering a CAGR of 20.29% over the last three years.

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Mirae Asset Midcap Fund and ICICI Pru Smallcap Fund each multiplied the investment by 1.67 times, followed by two Franklin Templeton Mutual Fund schemes and another mid-cap fund.

Quant Mid Cap Fund grew lumpsum investments by 1.66 times, with a CAGR of 18.47% over the three years. Two funds from Quant Mutual Fund, Quant Flexi Cap Fund and Quant Large & Mid Cap Fund, multiplied investments by 1.60 times each.

Four funds delivered single-digit CAGRs during this period. UTI Flexi Cap Fund, Axis Focused Fund, and Motilal Oswal Focused Fund multiplied lumpsum investments by 1.33 times, 1.31 times, and 1.28 times, respectively.

Samco Flexi Cap Fund was the last on the list, multiplying a lumpsum investment by 1.06 times and giving a CAGR of 1.96% over three years.

For this exercise, we considered all equity funds, including regular and growth options, and calculated lumpsum investment performance over the last three years.

Note: This analysis is not a recommendation. It only highlights which equity mutual funds multiplied lumpsum investments by more than two times in the past three years. Investment or redemption decisions should not be based solely on this data. Investors should always consider their risk appetite, investment horizon, and financial goals before making any decisions.