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These mutual fund managers made the maximum money for investors in last 5 years

Though every fund manager tries to put in his or her best effort to offer superior returns, some fund managers always outshine the others.

, ET Online|
Updated: Nov 25, 2019, 11.18 AM IST
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Money market
Indian mutual fund managers currently manage around Rs 25.60 lakh crore on behalf of investors. Though every fund manager tries to put in his or her best effort to offer superior returns, some fund managers always outshine the others. They successfully generate outstanding returns and top the return charts. tried to find out the list of equity fund managers who have generated the maximum returns for investors in the last five years. We have taken the five-year tenure, as it is considered the minimum time period to invest in equity mutual fund schemes.

We considered actively-managed, open-ended equity schemes, holding assets of over Rs 1,000 crore. We excluded sectoral schemes from this exercise. Fund managers who have been managing the scheme for at least five years in a row were considered. Next we took out the five-year CAGR returns of the schemes. We calculated the average of the five year returns of all schemes managed by one fund manager. We limited our selection to fund managers who have given 5-year average returns of 10% and above.

To factor in the risk, we excluded schemes which had a 5-year sharpe ratio lower than the category average and/or index. Sharpe ratio measures the excess return per unit of risk undertaken by an investor. Risk is calculated by using standard deviation.

The higher the sharpe ratio, the better the fund's historical risk-adjusted performance.

This exercise gave us a list of seven equity fund managers who have made the maximum money for investors, while managing the risk relatively better than their peers in the same category.
Look at the table below for the detailed list.
Scheme/ Fund manager AUM (Rs crore) No. of years managing the fund 1-yr 3-yr 5-yr
Neelesh Surana
Mirae Asset Large Cap Fund 14,917 12 14.87 11.93 12.22
Mirae Asset Emerging Bluechip 8,219 9 17.22 12.25 16.94
Jinesh Gopani
Axis Long Term Equity Fund 20,425 9 24.03 13.20 13.07
R. Srinivasan
SBI Focused Equity Fund 5,726 11 20.57 11.65 12.65
SBI Small Cap Fund 2,704 6 10.74 10.34 17.24
Rajeev Thakkar
Parag Parikh Long Term Equity Fund 2,205 6 15.20 11.94 12.42
Harsha Upadhyaya
Kotak Equity Opp Fund 2,614 7 17.08 8.62 10.85
Kotak Standard Multicap Fund 26,991 7 17.06 10.61 12.33
Vinit Sambre
DSP Small Cap Fund 4,773 9 1.00 -1.69 9.52
DSP Midcap Fund 6,348 7 14.40 6.55 12.39
Pankaj Tibrewal
Kotak Emerging Equity Scheme 4,960 9 13.11 5.95 12.24
Kotak Small Cap Fund 1,257 10 8.80 2.95 9.65
Data source: Ace MF

Limitation of the study
This is not an exhaustive list of fund managers who made their investors rich. We have fund managers like Shreyash Devalkar of Axis Mutual Fund, taking care of Axis Midcap Fund and Axis Bluechip Fund. Both funds have offered good returns to investors. However, we had to exclude him from our list because he has not managed these schemes continuously for five years. Similarly, we had to exclude Motilal Multicap 35 Fund from the list because of the recent change in the fund management.

We will interview these fund managers to find out how they managed to outperform their peers.

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