Recent data shows a half-dozen concentrated equity funds have delivered impressive results over the last five years. Here’s a look at the list.
When choosing a mutual fund, checking its track record is a good first step. Six focused mutual funds have recently stood out, posting annualized returns of over 20% for the past five years. This data, sourced from the Association of Mutual Funds in India (AMFI), gives investors a clear look at which concentrated investment strategies have performed well.
Focused funds are a specific type of equity fund that, by rule, can invest in a maximum of 30 stocks. The idea is to bet on a smaller, more concentrated group of companies rather than diversifying across a wide market. This strategy can lead to higher returns if the fund manager makes the right calls.
According to AMFI data, a few have done just that. The HDFC Focused Fund and the ICICI Prudential Focused Equity Fund led the pack with returns above 24%. Here is the full list of the top performers based on five-year annualized returns as of August 6th:
| Focused Mutual Fund | 5-Year Return (%) |
|---|---|
| HDFC Focused Fund | 27.61 |
| Franklin India Focused Equity Fund | 24.22 |
| ICICI Prudential Focused Equity Fund | 24.21 |
| Nippon India Focused Fund | 22.48 |
| Quant Focused Fund | 21.07 |
| 360 one focused fund | 20.85 |
| (Source: AMFI; regular plan returns) |
While their performance can be strong, focused funds are a relatively small slice of the mutual fund market. As of June 30, 2025, the 28 focused funds in India managed a total of ₹1,62,172 crore in assets. This makes it the second smallest equity fund category, just ahead of dividend yield funds, suggesting that many investors still prefer more diversified options.
These numbers are impressive, but they only tell you what happened in the past. It’s important to remember that a fund’s past performance is not a guarantee of how it will perform in the future. A fund that did well for the last five years might not be a leader in the next five. This data is a useful reference point for comparison, but it should be just one part of your research before making any investment decision.
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