Personal Finance News
4 min read | Updated on July 16, 2024, 19:24 IST
SUMMARY
Nippon India Growth Fund has surpassed an NAV of ₹4,000 for the first time in July 2024, with the regular plan at ₹4,008. The fund, managing ₹30,838.94 crore AUM, has delivered returns with a CAGR of 23.14% since inception, beating its benchmarks.
Nippon India Growth Fund reaches historic milestone, NAV surpasses ₹4,000 amid strong performance
The Net Asset Value (NAV) of Nippon India Growth Fund crossed ₹4,000 for the first time in July. As of July 15, 2024, the current NAV of the fund's regular plan is ₹4,008. The fund size is ₹30,838.94 crore with an expense ratio of 1.61%. The fund, which has been open-ended since its inception on October 8, 1995, continues to attract significant interest.
The Nippon India Growth Fund has delivered a return of 23.14% since its inception. The fund is benchmarked against the Nifty Midcap 150 TRI. It has provided the following returns:
At inception, the NAV was at ₹10, and it has climbed to ₹4,008, representing a growth of 39,980% since inception, with a CAGR of 23.14%. The fund has created significant wealth for investors by delivering phenomenal returns. The Nippon India Growth Fund has achieved a CAGR of 23.14%, outperforming the BSE Midcap 150, which had a CAGR of 22.65%, and the Equity Midcap category, which had a CAGR of 17.33% since the fund's inception. Notably, the fund began outperforming the BSE Midcap 150 after 2006, as illustrated in the graph above.
The fund has outperformed the index in 2023, 2022, 2019, and 2018. In addition, it has marginally underperformed the index in 2021, 2020, and 2017.
The fund has significantly outperformed its category average, with 2020 being the only year it underperformed. This demonstrates the expertise of the fund managers managing the Nippon India Growth Fund. The fund has consistently outperformed its category peers, showcasing the manager's skill in navigating the market.
_Source: Value Research _
If you had invested ₹10,000 monthly into the fund, the total current value of your investment would be ₹22,32,87,144, based on a total invested amount of ₹33,60,000. This investment has yielded a CAGR of 23.81%.
Period Invested for | ₹10000 Invested on | Latest Value | Absolute Returns | Annualised Returns |
---|---|---|---|---|
1 Year | 14-Jul-23 | 15942.4 | 59.42% | 59.02% |
2 Year | 15-Jul-22 | 20677.1 | 106.77% | 43.72% |
3 Year | 15-Jul-21 | 20322.5 | 103.22% | 26.64% |
5 Year | 15-Jul-19 | 33496.5 | 234.97% | 27.32% |
10 Year | 15-Jul-14 | 56983.6 | 469.84% | 18.99% |
Since Inception | 08-Oct-95 | 3611525.5 | 36015.25% | 22.70% |
The fund has an equity holding of 98.5% of the total portfolio, with the remaining 1.5% in other assets. It primarily invests in mid-cap stocks, followed by large-cap and small-cap stocks.
The total number of stocks held by the fund is around 95, with the top 10 stocks accounting for 23.24% of the fund's weight and the top 3 sectors comprising 18.86% of the fund's weight with 7.2% holdings in Pharmaceuticals, 6.84% in Auto Components & Equipments and 5% in Financial Institution, respectively as on 30 June 2024 on the moneycontrol website.
The Nippon India Growth Fund is managed by Rupesh Patel, who has been in charge since January 2023 and brings over 25 years of experience to the role. Sanjay Doshi, the Assistant Fund Manager, supported him, who also started managing the fund in January 2023 and has more than 19 years of experience in the industry.
The Nippon India Growth Fund's achievement of a ₹4,000 NAV highlights its consistent performance, making it a compelling choice for long-term investors.
About The Author
Next Story