PERFORMANCE ANALYSIS OF MUTUAL FUND: A COMPARATIVE STUDY OF THE SELECTED HYBRID (AGGRESSIVE HYBRID FUNDS & CONSERVATIVE HYBRID FUNDS) MUTUAL FUND SCHEME IN INDIA

Abstract

This above study focused on a comparative analysis of selected aggressive hybrid and conservative hybrid mutual fund schemes in Indian mutual fund market, covering the period from January 2020 to December 2023. The study aims to evaluate the performance of these mutual fund schemes and compare their risk and return components. Data for the analysis was collected from secondary sources, including historical Net Asset Values (NAV) and Factsheets provided by Asset Management Companies (AMCs). Various statistical tools such as Rate of Return (RoR), Alpha, Beta, Standard Deviation, Sharpe ratio, Jensen's Ratio, and Treynor's Ratio were utilized to assess the performance and risk-adjusted returns of the selected mutual fund schemes. The findings indicate that the ICICI Prudential Equity & Debt Fund outperformed among aggressive hybrid funds, showed the highest annual returns and superior risk-adjusted performance. On the other hand, for conservative hybrid funds, the Kotak Debt Hybrid Fund - Direct Plan exhibited the highest annual returns, while the ICICI Prudential Regular Savings Fund - Direct Plan demonstrated strong returns and risk-adjusted performance. The above study highlights the importance of considering risk tolerance and investment objectives before making investment decision and selecting mutual fund schemes. Investors should carefully understand the both historical performance and risk metrics to make well informed investment decisions in consideration with their financial objectives and risk preferences.