International MFs lead with up to 10% gains in July

New Delhi: International mutual funds emerged as the top performers in July, delivering returns of up to 9.77 per cent and outperforming most domestic funds. Out of 564 mutual fund schemes tracked, only 134 posted positive returns, while 429 registered losses and one remained flat, according to data analyzed by ETMutualFunds.

Eighteen of the top 20 best-performing schemes were international funds, with the remaining two from the pharma and healthcare sectors. Mirae Asset S&P 500 Top 50 ETF FoF led the charts with a return of 9.77 per cent, followed by DSP Global Clean Energy FoF (8.67 per cent) and Mirae Asset NYSE FANG+ETF FoF (8.51 per cent).

China-focused funds also delivered robust performance—Axis Greater China Equity FoF returned 8.48 per cent, while Edelweiss Greater China Equity Offshore Fund gained 7.45 per cent. Mirae Asset Global Electric & Autonomous Vehicles FoF clocked 7.21 per cent.

HDFC Pharma and Healthcare Fund and Mirae Asset Hang Seng TECH ETF FoF gained 6.18 per cent and 6.09 per cent, respectively. Nasdaq-focused funds from Kotak, Axis, and Motilal Oswal offered between 5.73 per cent and 5.88 per cent returns.

A few domestic schemes saw modest gains. HDFC Small Cap Fund returned 0.66 per cent, while Mirae Asset Small Cap Fund and Helios Flexi Cap Fund earned 0.42 per cent. Several others, including Axis Innovation Fund and Bandhan Small Cap Fund, posted 0.16 per cent. Baroda BNP Paribas Innovation Fund barely broke even with a 0.01 per cent return.

ICICI Prudential MNC Fund ended the month flat with a 0.00 per cent return.

On the losing side, HDFC Defence Fund was the worst performer with a 9.67 per cent loss. HSBC Brazil Fund shed 6.63 per cent, and tech-focused funds declined by 4.61 per cent to 5.36 per cent. Other laggards included Old Bridge Focused Fund (–4.51 per cent), SBI Midcap Fund (–2.85 per cent), and Motilal Oswal Midcap Fund (–2.64 per cent).

Quant Mutual Fund schemes also struggled: its Manufacturing, Large Cap, and Infrastructure Funds each lost over 2 per cent, while its Mid Cap and Momentum Funds were down 2.03 per cent and 2.02 per cent, respectively. SBI Contra Fund dropped 1.90 per cent, and Nippon India Small Cap Fund lost 1.60 per cent.

The lowest losses were seen in Kotak Manufacture in India Fund and DSP Midcap Fund, each declining by just 0.05 per cent in July.