Crash, what crash? These 3 flexi-cap funds have not cracked under pressure

October brought a bloodbath to the stock market, and November hasn't been much kinder. With the BSE 500 down 10.3 per cent since its peak on September 26, equity investors have been hit hard. Headlines are blaring warnings, and foreign institutional investors (FIIs) are pulling out at extraordinary levels, sucking out Rs 1.45 lakh crore from the market since October. For many, this period of turbulence has been a stark reminder of how unpredictable markets can be. Yet, amid the chaos, some flexi-cap funds stood out—not because they avoided losses altogether, but because they navigated the downturn better than most. These funds, each with at least a year of history, used an intriguing mix of strategies to protect their investors' money. The leaders in resilience 1. Parag Parikh Flexi Cap Fund: -4.31 per cent 2. Helios Flexi Cap Fund: -6.12 per cent 3. HSBC Focused Fund: -6.54 per cent Note: Returns calculated for direct plans from September 26 to November 17, 2024. Parag Parikh Flexi Cap Fund Parag Parikh Flexi Cap Fund , with over Rs 82,000 crore asset base (14 per cent of the category's total), has long been regarded as a steady hand in the market. The fund has a stellar track record, outperforming its benchmark 100 per cent of the time over any five-year period. In 2024 alone, it collected Rs 18,140 crores, reflecting strong investor confidence. What sets the fund apart is that it hungers for growth by taking a cautious approach. For starters, the fund primarily invests in large-cap stocks (90 per cent) and follows a value-driven strategy, with a P/E ratio of 17.57 compared to the category median of 28.31. Secondly, the fund has a well-established history of deploying assets into international markets, a strategy that continues to define its approach. Thirdly, it currently holds a substantial 20.5 per cent in cash and cash equivalents, which has helped it weather recent market turbulence. Since the fund follows a value investing strategy, it only invests when it finds valuable opportunities, leading to a history of holding significant cash when the right investments are not available. The fund manager has consistently