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Small-, Mid-cap Funds Turn High-flyers

The stock market rally has generated notable returns for investors in these funds

The last one month has been quite encouraging for the markets as well as mutual funds. The benchmark index, Sensex has gained 24.08 per cent in the past one month as of May 27, 2009 and, as a consequence, diversified equity funds too have posted handsome gains.

With the markets gaining momentum, the mid- and small-caps have come under the limelight. The consequence has been more than pleasant for their indices as well. The BSE Small Cap and BSE Mid Cap indices that have rocked the markets over the past 30 days gaining 43.97 per cent and 36.63 per cent respectively.

For the mutual fund industry, this has translated into gains for small-cap funds, which have gained 39.71 per cent on an average in the past one month ending May 27, 2009. However, there were some funds that put in stellar efforts that led them to beat even these humming stock market indices. JM Emerging Leaders, Taurus Ethical and Escorts Growth were the three funds that were able to beat the BSE Small Cap index with returns of 45.98 per cent, 45.28 per cent and 44.92 per cent respectively.

Check out: Performance of small-cap equity diversified funds

Mid-cap funds too have shown the same kind of over-achievement, rising 30.7 per cent with fourteen funds outpacing the BSE Mid Cap index. Taurus Infrastructure turned out to be the best fund in the mid-cap space with returns of 53.47 per cent. It was followed by JM Basic (51.18%), Sundaram BNP Paribas CAPEX Opportunities-D (44.71%), Sundaram BNP Paribas CAPEX Opportunities-G (43.95%), Sundaram BNP Paribas Select Midcap (43.68%), Magnum Emerging Businesses (42.84%), Taurus Starshare (41.62%), Magnum Global (39.50%), Principal Junior Cap (39.40%), Tata Service Industries (38.97%), Sahara Mid-Cap (38.45%), Taurus Discovery (38.38%), Escorts Leading Sectors (37.73%) and Birla Sun Life Mid Cap (36.93%).

Check out: Performance of mid-cap equity diversified funds

Large-cap funds gained too, but these were of a more modest nature when compared to the small- and mid-cap funds. Large-caps gained 24.07 per cent on an average, which is almost equal to the Sensex return of 24.08 per cent. However, there were a large number of funds that were able to beat the returns generated by Sensex over the past 30 days. These large-cap funds numbered 52, with Birla Sun Life Infrastructure topping the charts with 35.43 per cent returns. It was followed by Taurus Bonanza (34.48%), DBS Chola Opportunities (33.94%), Reliance Regular Savings Equity (33.43%) and Birla Sun Life Basic Industries (32.84%).

Check out: Performance of large-cap equity diversified funds