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Best Performing Mutual Funds (MFs) of 2008

This article lists the top 5 mutual funds (MFs) for the year 2008 for various types / categories – Equity Diversified MFs, Tax Saving (ELSS) MFs and Debt MFs.



As we did in 2007, it is time again to look into the rear view mirror, and find out which mutual funds have performed the best in the year gone by.

Of course, we need to remember that “past performance is not a guarantee for future performance”. But please keep in mind that consistent performance over a long period of time can be a convincing proof of strong stock picking and fund management skills.

So, here is a list of top performing mutual funds (MFs) for the year 2008.

My recommendation – It is always advisable to pay more attention to long term performance and rankings instead of the 1 year performance. (In any case, the 1 year performance is nothing to talk about for most funds in 2008).


Equity – Diversified

Top 5 Funds Based on 5 Year Return (Annualized)







Fund Name 5 Year Return (Annualized %) 1 Year Return (%)
SBI Magnum Contra 26.90 -53.81
Reliance Growth 21.91 -53.90
Kotak 30 20.10 -48.88
DSPBR Equity 20.00 -49.74
SBI Magnum Multiplier Plus 19.40 -55.90

Top 5 Funds Based on 1 Year Return







Fund Name 5 Year Return (Annualized %) 1 Year Return (%)
Birla Sun Life Asset Allocation Aggressive NA -35.68
FT India Life Stage FoF 20s 11.24 -40.70
IDFC Imperial Equity NA -43.03
UTI MNC 9.66 -43.10
Sahara Growth 16.53 -43.22


Equity – Tax Saving (ELSS)

Top 5 Funds Based on 5 Year Return (Annualized)







Fund Name 5 Year Return (Annualized %) 1 Year Return (%)
SBI Magnum Taxgain 24.75 -55.63
Sundaram BNP Paribas Taxsaver 20.44 -48.62
HDFC Taxsaver 18.35 -52.48
Canara Robeco Equity Tax Saver 14.75 -47.76
Franklin India Taxshield 14.20 -50.14

Top 5 Funds Based on 1 Year Return







Fund Name 5 Year Return (Annualized %) 1 Year Return (%)
Canara Robeco Equity Tax Saver 14.75 -47.76
Sundaram BNP Paribas Taxsaver 20.44 -48.62
Lotus India Tax Plan NA -48.73
Sahara Tax Gain 13.42 -49.44
Franklin India Taxshield 14.20 -50.14


Debt – Medium Term

Top 5 Funds Based on 5 Year Return (Annualized)







Fund Name 5 Year Return (Annualized %) 1 Year Return (%)
Canara Robeco Income 9.94 28.62
IDFC Dynamic Bond Plan A 9.08 26.35
Birla Sun Life Income 8.79 20.86
Kotak Bond Regular 8.38 19.97
ICICI Prudential Long-term 8.32 10.03

Top 5 Funds Based on 1 Year Return







Fund Name 5 Year Return (Annualized %) 1 Year Return (%)
Canara Robeco Income 9.94 28.62
IDFC Dynamic Bond Plan A 9.08 26.35
IDFC SSI Inv Plan A 7.71 24.25
ICICI Prudential Income 8.15 23.56
Birla Sun Life Income Plus 8.06 21.58

So, go ahead and make investment plans for the year 2009. And remember not to get influenced by short term returns – long term performance is the only way to judge a mutual fund (MF) prudently!

Happy investing!

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