Money magnets of 2023

If a year could have the Midas touch, it was 2023. Everything it touched in the equity market turned to gold. The mid- and small-cap funds had a dream run. So did the large-cap funds, especially in the back half of the year. Heck, even active funds struck gold, stealing the thunder from their passive counterparts. You can thank controlled inflation, increased consumption, and amplified capital expenditure for sprinkling much-needed gold dust over the market, which was, until then, crying out for inspiration. All said and done, 2023 will be a gold standard for the mutual fund industry. It's not surprising then that asset management companies (AMCs) were on a spree to launch funds last year. Ninety-one funds, to be precise. Although the number fell slightly short of 2022's 104 new fund offers (NFOs), the proliferation of funds can be attributed to ramped-up investor attention, surging markets and greater market opportunities. Among the NFOs, thematic funds were the clear favourites. The new thematic funds garnered more than Rs 9,000 crore of investor money. The PSU (public sector undertakings) funds, in particular, were in red-hot demand...But let's not get swept away by the NFO mania because, as mentioned earlier, 2023 was an annus mirabilis for equity funds as a whole. So, let's shine a light on the most popular funds of an epic year that has just gone by. These are as per our estimates using the daily AUM and