• Sumant L. Wachasunder

Mutual fund is an instrument of systematic investment. A number of mutual fund schemes are available for investors to gain in long term. India is one of the strongest, largest and most important emerging financial market, and since 2014, Indian benchmark indices have shown a strong uptrend. The importance of mutual funds in stock market has grown dramatically in last two decades. The majority of market analysts expect this upward momentum to continue over the long term. Indian-focused equity mutual funds offer investors opportunities for substantial capital gains, which will be taxed from A.Y. 2019-2020. Equities have out-performed other investment asset classes over the long-term in India as well as globally. Hence, Investors looking for the higher potential returns available in major emerging economies may consider globally diversifying their overall investment portfolio with mutual funds that hold Indian equities. The present study focused on the performance of select equity small cap mutual funds and it was analyzed with risk return measurement tools such as alpha, beta, standard deviation and Sharpe ratio, along with investment in different sectors. In the current study 10 top performing small cap schemes, depending on returns given in last 1 year, are selected to make a comparative study on the risk and return offered by these funds. From the study it is observed that among the selected funds Union Small and Midcap Fund - Direct Plan is considered as a fund with moderate risk as well as moderate returns, against which the SBI Small & Midcap Fund is considered as high risk with high returns.

mutual fund, higher return, capital gains, sectors

"A Study on the Performance of Equity Mutual Funds With special reference to small cap mutual funds", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 10, page no.10-15, October-2018, Available :http://www.jetir.org/papers/JETIRI006004.pdf

"A Study on the Performance of Equity Mutual Funds With special reference to small cap mutual funds", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 10, page no. pp10-15, October-2018, Available at : http://www.jetir.org/papers/JETIRI006004.pdf