FINOLOGY

MUTUAL

FUND
2025
 Nov’24

This report contains a list of our best mutual fund picks for the year 2025, along
with important details.

We did various checks- both quantitative and qualitative to filter out our top picks
in various categories.

For the quantitative checks, broadly for all the categories, we considered lower
expense ratios, outperformance relative to benchmark in terms of rolling returns,
higher AUM size, liquidity, etc.

For qualitative checks, we considered the reputation of AMC, portfolio securities

(stocks, bonds, etc) of funds, discipline in sticking to the core strategy of respective
funds, etc.

Here are our best mutual fund picks across categories for the year 2025:

Large Cap: HDFC Index Fund - BSE Sensex Plan

Large and Mid-cap: Kotak Equity Opportunities Fund

ELSS: Mirae Asset ELSS Tax Saver Fund

Flexi Cap: Parag Parikh Flexi Cap Fund

Gold ETF: ICICI Prudential Gold ETF

Liquid Fund: Quantum Liquid Fund

Note: All funds are Direct Growth plans.

For more details on how we picked these funds, refer to our category-wise
individual reports in Free Reports page.
 Nov’24

HDFC Index Fund - BSE Sensex Plan

Large Cap (Index) | Direct Growth Plan

This fund aims to mirror the performance of the S&P BSE Sensex, representing the
top 30 companies in the Indian market. The investment strategy revolves around
reducing the tracking error to the least possible figure through regular rebalancing
of the portfolio, taking into account the change in weights of stocks in the Index as
well as the incremental collections/redemptions.

Rolling Returns
Return as on
31-Oct-2024
1 year 3 years 5 years

HDFC Index Fund

BSE Sensex
25.32% 11.13% 15.39%

Benchmark Returns 25.86% 11.62% 16.01%

Details of the Fund

AUM (as of 30 Sep 2024) ₹7,945.86 Cr.

Launch Date: 17 July 2002

Expense Ratio: 0.20%

Portfolio Turnover Ratio: 7.89%

Tracking Error 0.04%

Minimum Investment: ₹100

Why do we like this fund?

This fund aims to mirror the performance of the BSE Sensex, representing the top 30 companies in
the Indian market. The investment strategy revolves around reducing the tracking error to the least
possible figure through regular portfolio rebalancing, taking into account the change in stocks'
weights in the Index as well as incremental collections/redemptions. With a nominal expense ratio
and one of the lowest tracking errors (0.04%), this fund is an ideal choice in the index fund category.
 Nov’24

Kotak Equity Opportunities Fund - Direct Plan

Large And Midcap | Direct Growth Plan

This fund focuses essentially on quality stocks that can be held in the portfolio for
a longer horizon (at least 8-10 years). The fund manager looks for a sustainable
business and a sound balance sheet and thereby ensures stable performance
with minimum volatility.

Rolling Returns
Rolling Returns
31-Oct-2024
1 year 3 years 5 years

Kotak Equity
Opportunities Fund
39.99% 19.53% 21.97%

Benchmark 37.46% 17.16% 21.64%

Details of the Fund

AUM (as of 31 October 2024): ₹25,034.05 Cr.

Launch Date: 9 September 2004

Expense Ratio: 0.50%

Portfolio Turnover Ratio: 26.08%

Minimum Investment: ₹100

Why do we like this fund?

Investments in mid-cap companies possess moderate to high risk. Still, this fund has shown lesser
volatility than its peers in the same category owing to its long-term outlook and proper diversifica-
tion. Hence it’s a good investment avenue for investors who wish to invest in a less volatile scheme.
 Nov’24

Mirae Asset ELSS Tax Saver Fund

ELSS | Direct Growth Plan

This fund helps investors potentially achieve long-term financial goals while
simultaneously reducing their tax liability, making it an attractive choice for
tax-conscious individuals looking to build wealth. This fund focuses on investing in
a balanced manner across categories.

Rolling Returns
Return as on
31-Oct-2024
1 year 3 years 5 years

Mirae Asset ELSS

Tax Saver Fund
34.84% 14.12% 20.31%

Benchmark 35.05% 14.57% 18.55%

Details of the Fund

AUM (as of Nov 2024) ₹24,895.71 Cr.

Launch Date: 28 December 2015

Expense Ratio: 0.61%

Portfolio Turnover Ratio: 1.24 times

Minimum Investment: ₹500

Why do we like this fund?

This fund's expense ratio is very low. As an ELSS fund, it serves the dual purpose of tax savings and
long-term wealth creation.
 Nov’24

Parag Parikh Flexi Cap Fund

Flexi Cap | Direct Growth Plan

The fund follows a value investing strategy and picks stocks across market caps
and geographies. The scheme believes in buying quality stocks at a discounted
price and holding them for a long. In order to hedge the portfolio from
country-specific risk, the scheme also takes exposure to international stocks with
a maximum cap of 35% of the overall portfolio.

Rolling Returns
Rolling Returns
31-Oct-2024
1 year 3 years 5 years

Parag Parikh
Flexi Cap Fund
35.91% 16.40% 24.70%

Benchmark 35.05% 14.57% 18.55%

Details of the Fund

AUM (as of Oct 2024) ₹81,918 Cr.

Launch Date: 24 May 2013

Expense Ratio: 0.63%

Portfolio Turnover Ratio: 21.17%

Minimum Investment: ₹1000

Why do we like this fund?

The fund follows a value investing strategy and picks stocks across market caps and geographies.
The scheme believes in buying quality stocks at a discounted price and holding them for a long. In
order to hedge the portfolio from country-specific risk, the scheme also takes exposure to interna-
tional stocks with the flexibility to invest up to 35% in overseas equity security and domestic
debt/money market securities. The fund manager has a strong conviction regarding his picks
demonstrated by one of the lowest turnover ratios in the category. The fund house follows a con-
servative approach to investing. Currently, it is sitting at ~16% in cash as it believes it does not find
any attractive opportunity to invest according to its investing strategy. Even with a conservative
investment approach, the fund has delivered superior returns and is one of the best-performing
funds in its category.
 Nov’24

ICICI Prudential Gold ETF

Gold-ETF | Regular Plan

This fund helps investors potentially achieve diversification benefits. This fund
focuses on closely tracking the performance of domestic prices of gold derived
from LBMA AM (London Bullion Market Association) fixing prices.

Rolling Returns
Returns as on
31-Oct-2024
1 year 3 years 5 years

ICICI Prudential
Gold ETF
28.86% 16.89% 13.50%

Benchmark 30.12% 17.85% 14.46%

Details of Plan

AUM (as of Oct 2024) ₹4,226.83 Cr.

Launch Date: 24 August 2010

Expense Ratio: 0.50%

Tracking Error: 0.22%

Why do we like this fund?

This fund has a large size AUM and provides good liquidity. The low tracking error enables
the fund to generate returns close to its benchmark.
 Nov’24

Quantum Liquid Fund

Liquid Fund | Direct Plan

The fund focuses on ensuring that investments are made prudently in safe
and liquid instruments to earn slightly higher returns than interest on a
bank savings account.

Details of the Fund

AUM (as of Nov 2024) ₹486.96 Cr.

Launch Date: 7 April 2006

Expense Ratio: 0.15%

Annualised Portfolio YTM: 6.79%

Why do we like this fund?

The fund prioritises safety and liquidity over returns by investing predominantly in
Government Securities, Treasury Bills and Money Market instruments issued by
Public Sector Undertakings.
Mutual funds offer discipline and growth; but for better returns, investing in stocks
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 Disclosures and Disclaimers:

Mutual Fund investments are subject to market risks, read all scheme-related
documents carefully. The Net Asset Values (NAVs) of the funds may experience
fluctuations, influenced by various factors affecting the securities market and
changes in interest rates. Data, video clippings, graphs and/or information
displayed on this report are for information purposes only.

Registration granted by SEBI, membership of BASL and certification from National

Institute of Securities Markets (NISM) in no way guarantee performance of the
intermediary or provide any assurance of returns to investors. The past
performance of the mutual funds does not necessarily predict future results. The
Mutual Fund report does not provide a guarantee or assurance of returns under
any scheme.

Nothing contained in this document shall be construed as investment or financial

recommendation or advice. Investors are advised to thoroughly review the pro-
spectus and seek professional guidance on any specific legal, tax, or financial
implications related to investing or participating in the scheme.

While all efforts have been taken to make this report as authentic as possible,
please refer to the notified Gazette copies of Acts/Rules/Regulations for authentic
version or for use before any authority. We will not be responsible for any loss to
any person/entity caused by any shortcoming, defect or inaccuracy
inadvertently or otherwise crept into this report.