According to reports from Crisil Intelligence on the Association of Mutual Funds in India (AMFI) website, only six of the 32 multi-cap schemes have completed a full decade of returns till August 27, 2026. The top five schemes by 10-year Information Ratio for the direct plan are Quant Multi Cap with a 0.45 Information Ratio, Nippon India Multicap at 0.25, Baroda BNP Paribas Multi Cap at 0.12, ICICI Prudential Multi Cap at 0.11, and Invesco India Multi Cap at 0.04. The multi-cap benchmark index returned 14.63% over the 10-year period, with Quant Multi Cap's direct plan delivering the highest returns of 18.32%, exceeding the benchmark by 369 basis points.
As reported by Crisil Intelligence, Nippon India, the largest fund in the group with assets under management of ₹56,287 crore, posted 10-year direct plan annualised returns of 15.89%, beating the benchmark by 126 basis points. Invesco India Multi Cap, with an AUM of ₹4,532 crore, delivered 14.85%, narrowly above the benchmark. The contrast between 5-year and 10-year performance is striking, with Nippon India posting the highest 5-year returns of 18.59% but ranking second on 10-year returns at 15.89%. Quant Multi Cap was the opposite, with its 10-year CAGR of 18.32% being the best in the group, but its 5-year return dropped to 13.35%, the lowest among the five. Recent analysis by ETMutualFunds shows that approximately 49 equity mutual funds delivered over 15% CAGR in both the last three and five years, with HSBC Midcap Fund topping the three-year returns at around 25.09% and Motilal Oswal Midcap Fund leading over five years at around 22.60%.
According to the analysis, a monthly SIP of ₹5,000 in Quant Multi Cap's direct plan over 10 years would have grown to approximately ₹17.2 lakh against an invested amount of ₹6 lakh. The same SIP in Invesco India Multi Cap would have reached ₹13.8 lakh. At ₹10,000 per month, the Quant corpus would have touched ₹34.3 lakh versus Invesco's ₹27.6 lakh. At ₹15,000 per month, Quant would have reached ₹51.5 lakh against Invesco's ₹41.4 lakh. Over 5 years, Nippon India led with a ₹5,000 monthly SIP growing to ₹4.97 lakh against ₹3 lakh invested.
As reported by Crisil Intelligence, the Information Ratio captures efficiency, with Quant's 0.45 meaning it generated 45 basis points of excess return per unit of tracking error, nearly double Nippon India's 0.25. All five schemes carry a 'Very High' risk rating on the riskometer, consistent with the benchmark's own risk classification. The data shows that direct plans of all five schemes beat the benchmark's 14.63% 10-year return, though by varying margins, with Quant's outperformance of 369 basis points translating into a ₹2.4 lakh difference on a ₹5,000 monthly SIP over 10 years compared with Invesco, the fifth-ranked fund. Recent analysis by ETMutualFunds reveals that nearly 216 funds have completed five years of existence in the industry, with the analysis covering regular growth options excluding sectoral and thematic funds.
