10 'growth' funds you can consider for your equity portfolio

Our 'growth' category comprises flexi-cap, value-oriented and large & mid-cap funds. Below is an analysis of a handful of 'growth' funds handpicked by our analysts. Franklin India Flexi Cap Fund Fund philosophy The fund has the flexibility to invest across sectors and market caps. Acquiring a tenet from the AMC's overall 'value-oriented' tilt, the fund's P/E ratio remains below its peers and the benchmark most of the time. However, it doesn't hold itself back from taking exposure to growth stocks either, creating a blended portfolio flavour overall. Performance Franklin India Flexi Cap Fund has outperformed the benchmark and category median since three consecutive years. The trend has been similar this year, too. The fund has capitalised on the mid- and small-cap rallies in 2023. Kalyan Jewellers, Jyothy Labs and Kirloskar Oil Engines have been the main contributors. On the large-cap side, Tata Motors, Bharat Electronics, L&T, NTPC, GAIL and Zomato did most of the heavy lifting. Notable mentions Anand Radhakrishnan, its long-time fund manager, exited the AMC a few months ago, and R Janakiraman has taken over. However, this change isn't concerning, as Janakiraman co-managed the fund with Radhakrishnan for over 12 years. Our take It remains one of the top choices for your core equity portfolio. HDFC Flexi Cap Fund Fund philosophy The fund has the flexibility to invest across various sectors and company sizes. It focuses on businesses with robust fundamentals, long-term growth potential, competitive advantages and credible management. Further, the fund demonstrates a strong value orientation that aligns with the AMC's overall investment approach. Performance HDFC Flexi Cap Fund, one of the oldest in its category, has a history of strong long-term performance. After a lull period from 2018 to 2020 due to its value-oriented approach, it made a remarkable comeback in 2021 amid the resurgence of the 'value' style post-Covid. By consistently outperforming its peers and benchmarks for the last three years, the fund has maintained a four-star rating since February 2023. Our take Its current fund manager, Roshi Jain, took over from long-term fund manager Prashant Jain in July 2022. This transition is not a concern though, given Roshi's extensive background and proven track record. Hence, the fund is a compelling choice for your core equity portfolio. ICICI Prudential Value Discovery Fund Fund philosophy It is the AMC's flagship fund and one of the most ardent followers of the 'value' investing style amongst all actively managed equity funds. Since Sankaran Naren retook the fund's mantle in 2021, there has been a notable increase in the number of stocks. He attributes this to having an optimal diversification at the current fund size. While the fund is market-cap agnostic, exposure to large-cap stocks has increased over the last two years, as the fund manager believes it currently offers better value than mid and small caps. Performance The past few years have been bountiful for value investing, and this fund has ridden the tide, improving its long-term performance. Though ICICI Prudential Value Discovery Fund delivered stellar returns against the benchmark in 2023, it lagged an average peer by around 4 per cent. However, it has managed to outpace its rivals so far this year. Our take With a steadfast value focus, the fund is an ideal option for long-term wealth accumulation, provided you can stomach lean phases in the interim due to style cyclicity. Invesco India Contra Fund Fund philosophy The fund follows a contrarian strategy, wherein it invests in companies going through a turnaround phase and those trading below their intrinsic value. It manages a diversified portfolio of stocks across the market cap breadth. Performance Invesco India Contra Fund has successfully capitalised on pessimism to generate returns, as it has outperformed the benchmark 90 per cent of the time in terms of five-year rolling returns since its inception. However, the fund has trailed an average value-oriented peer for the last three years. Investment in t