Performance Evaluation of Top 5 Large-Cap Mutual Funds in India

The acceptance of mutual funds among investors has grown consistently over the years among retail and institutional investors due to the benefits they offer portfolio diversification, professional fund management, and opportunities for long-term capital growth. Assessing the performance of these investment schemes is important for helping investors make well-informed financial decisions. This study evaluates and compares the investment efficiency of choosen large-cap mutual fund schemes operating in India by applying risk-adjusted performance measures. The analysis draws upon secondary information obtained from Net Asset Values (NAVs) associated with five chosen large-cap mutual fund schemes over one-year, three-year, and five-year periods. To measure performance, the study employs widely recognized indicators such as the Sharpe, Treynor indices, and Jensen's Alpha, which assess returns while considering the degree of investment risk. Research also examines key variables including portfolio returns, market returns, the risk-free rate, beta and standard deviation to ensure a detailed assessment of the choosen mutual fund schemes. By adopting a risk-adjusted approach, the study offers a systematic comparison of mutual fund performance over varying investment time frames and provides meaningful guidance for investors, researchers and financial professionals.