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Performance of Mutual Funds: A Comparative Study of Prominent Multi Capital and Large Capital Funds

Author

Listed:
  • Abdelkader Derbali

    (Department of Administrative and Financial Sciences and Techniques, Community College, Taibah University, Medinah (Saudi Arabia))

  • Ahmed K Elnagar

    (Department of Administrative and Financial Sciences and Techniques, Community College, Taibah University, Medinah (Saudi Arabia))

  • Lamia Jamel

    (Department of Finance and Economics, College of Business Administration, Taibah University, Medinah (Saudi Arabia))

  • Monia Ben Ltaifa

    (Human Resource Department, Community College in Abqaiq, King Faisal University, Abqaiq (Saudi Arabia))

Abstract

The purpose of this paper is to compare the performance of prominent multi capital and large capital funds. We examine the performance of 10 prominent funds under both the selected categories has been analyzed during the period of study from 2013 to 2018. Their performance has also been compared against the two most diversified benchmark indices of India such as BSE 200 and Nifty 500. We have also attempted to find out whether there is any considerable difference in the performance of the two categories of funds or not. To do so, we employ a One-way Analysis of Variance (ANOVA) for the comparison of mutual funds as an econometric methodology for a period of study from 2013 to 2018 for a sample of 20 Indian mutual funds. From the empirical findings, we find that the mutual fund schemes under both the categories such as Multi Capital Funds and Large Cap Funds have generated good returns over the period and that too with reasonable risk. Therefore, it is very safe to conclude that they are a good investment option for an investor. In terms of the performance of these mutual funds, the average monthly returns generated by the funds in each category are numerically different, but this difference has not been found statistically significant. At the same time, there is no significant difference between these funds and NIFTY 500 as well as these funds and BSE 200 in terms of their returns.

Suggested Citation

  • Abdelkader Derbali & Ahmed K Elnagar & Lamia Jamel & Monia Ben Ltaifa, 2020. "Performance of Mutual Funds: A Comparative Study of Prominent Multi Capital and Large Capital Funds," Management & Economics Research Journal, Faculty of Economics, Commercial and Management Sciences, Ziane Achour University of Djelfa, vol. 2(4), pages 27-44, September.
    • Handle: RePEc:alv:journl:v:2:y:2020:i:4:p:27-44
    DOI: 10.48100/merj.v2i4.123
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    More about this item

    Keywords

    Large Cap Funds; Mutual Funds; Multi-Cap Funds; Return; Risk;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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