As of March 2, 2026, a select group of 12 equity mutual funds stand out for their strong performance, boasting a net asset value (NAV) exceeding Rs 1,000 and delivering compound annual growth rates (CAGR) of up to 24% since their inception. This performance, highlighted in an analysis by ETMutualFunds, offers a compelling look at long-term investment success in the Indian equity market. The funds span various categories – midcap, flexicap, ELSS, largecap, and large & midcap – demonstrating that consistent returns can be achieved across different investment strategies. Understanding these funds and their performance is crucial for investors seeking to build wealth over the long term, particularly in a dynamic economic landscape.
The majority of these high-performing funds have a long track record, with 11 having been in the market for over 25 years. The exception is the Sundaram Mid Cap Fund, which has been operating for approximately 23.64 years. All schemes have consistently delivered double-digit returns, exceeding 17% since their respective launches, showcasing the potential for substantial growth over extended periods. This sustained performance underscores the importance of a long-term investment horizon and careful fund selection.
Midcap Funds Lead the Pack
Among the funds with NAVs above Rs 1,000, midcap funds currently lead in terms of highest NAV. The Nippon India Growth Mid Cap Fund currently holds the highest NAV at Rs 4,312.4386 as of March 2, 2026. Launched in October 1995, it has achieved a 22.08% CAGR since inception. Franklin India Mid Cap Fund, with a history of around 32.27 years, has an NAV of Rs 2,694.4574 and a CAGR of 18.94%. These figures demonstrate the potential for significant returns within the midcap segment, though investors should be aware of the inherent volatility often associated with mid-sized companies.
Flexicap Funds Offer Diversification
Flexicap funds, known for their ability to dynamically adjust asset allocation based on market conditions, as well feature prominently on the list. HDFC Flexi Cap Fund (formerly HDFC Equity Fund), with an NAV of Rs 2,060.1270 and 31.19 years in the market, has delivered a CAGR of 18.64%. Aditya Birla SL Flexi Cap Fund (formerly Aditya Birla Sun Life Equity Fund) and Franklin India Flexi Cap Fund (formerly Franklin India Equity Fund) have NAVs of Rs 1,849.3600 and Rs 1,627.1068 respectively, with CAGRs of 20.88% and 17.58%. The flexibility offered by these funds can be particularly appealing to investors seeking to navigate changing market conditions.
Long-Term Performance Across Categories
Beyond midcap and flexicap funds, several other schemes demonstrate consistent long-term performance. Nippon India Vision Large & Mid Cap Fund, launched in October 1995, has an NAV of Rs 1,482.6444 and a CAGR of 17.87%. Franklin India ELSS Tax Saver Fund, a popular choice for tax-efficient investing, has an NAV of Rs 1,449.7716 and a CAGR of 20.32% over its 26.92-year history. HDFC ELSS Tax saver, with an NAV of Rs 1,424.8960 and nearly 29.94 years in the market, has achieved a CAGR of 22.78%. Sundaram Mid Cap Fund, with an NAV of Rs 1,423.1334 and a 23.64-year track record, has posted a CAGR of 23.35%.
Large cap funds also develop an appearance, with HDFC Large Cap Fund (formerly HDFC Top 100 Fund) having an NAV of Rs 1,159.0170 and a 29.41-year history, delivering a CAGR of 18.29%. ICICI Pru Large & Mid Cap Fund (formerly ICICI Prudential Top 100 Fund) has an NAV of Rs 1,034.4200 and a CAGR of 18.26% over its 27.67-year lifespan. Franklin India Large Cap Fund (formerly Franklin India Bluechip Fund) has an NAV of Rs 1,025.3670 and a CAGR of 18.61% over its 32.27-year history.
Important Considerations for Investors
It’s important to note that these schemes have undergone changes over time, including shifts in their benchmarks, making direct performance comparisons complex. The analysis considered all equity mutual funds, excluding sectoral, thematic, and equity-oriented hybrid funds, focusing on regular and growth options. Performance was calculated based on NAVs as of March 2, 2026, since each fund’s inception.
However, this analysis is not a recommendation to invest in any specific fund. Investors should carefully consider their individual risk tolerance, investment horizon, and financial goals before making any investment decisions. A diversified portfolio, aligned with personal circumstances, remains the cornerstone of sound financial planning.
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme-related documents carefully.
As market conditions continue to evolve, investors should regularly review their portfolios and consult with a financial advisor to ensure their investments remain aligned with their long-term objectives. The next key date for investors to watch will be the release of fund performance data for the quarter ending June 2026, providing an updated view of these funds’ continued performance.
Do you currently hold any of these funds in your portfolio? Share your thoughts and experiences in the comments below.
