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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 Name5 Year Return (Annualized %)1 Year Return (%)
SBI Magnum Contra26.90-53.81
Reliance Growth21.91-53.90
Kotak 3020.10-48.88
DSPBR Equity20.00-49.74
SBI Magnum Multiplier Plus19.40-55.90

Top 5 Funds Based on 1 Year Return







Fund Name5 Year Return (Annualized %)1 Year Return (%)
Birla Sun Life Asset Allocation AggressiveNA-35.68
FT India Life Stage FoF 20s11.24-40.70
IDFC Imperial EquityNA-43.03
UTI MNC9.66-43.10
Sahara Growth16.53-43.22


Equity – Tax Saving (ELSS)

Top 5 Funds Based on 5 Year Return (Annualized)







Fund Name5 Year Return (Annualized %)1 Year Return (%)
SBI Magnum Taxgain24.75-55.63
Sundaram BNP Paribas Taxsaver20.44-48.62
HDFC Taxsaver18.35-52.48
Canara Robeco Equity Tax Saver14.75-47.76
Franklin India Taxshield14.20-50.14

Top 5 Funds Based on 1 Year Return







Fund Name5 Year Return (Annualized %)1 Year Return (%)
Canara Robeco Equity Tax Saver14.75-47.76
Sundaram BNP Paribas Taxsaver20.44-48.62
Lotus India Tax PlanNA-48.73
Sahara Tax Gain13.42-49.44
Franklin India Taxshield14.20-50.14


Debt – Medium Term

Top 5 Funds Based on 5 Year Return (Annualized)







Fund Name5 Year Return (Annualized %)1 Year Return (%)
Canara Robeco Income9.9428.62
IDFC Dynamic Bond Plan A9.0826.35
Birla Sun Life Income8.7920.86
Kotak Bond Regular8.3819.97
ICICI Prudential Long-term8.3210.03

Top 5 Funds Based on 1 Year Return







Fund Name5 Year Return (Annualized %)1 Year Return (%)
Canara Robeco Income9.9428.62
IDFC Dynamic Bond Plan A9.0826.35
IDFC SSI Inv Plan A7.7124.25
ICICI Prudential Income8.1523.56
Birla Sun Life Income Plus8.0621.58

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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