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Top  mutual funds to start an SIP in 2017
updated on 22 Aug 2017
Creating a mutual fund portfolio involves several steps which many investors believe are too complex. To begin with, an investor needs to shortlist a few schemes with credible long-term performance record. The next step is to pick the ones that are in line with the risk profile and investment objectives.

Another crucial step is to fix the composition of the portfolio. The task doesn't end here. Another equally important step is to monitor and review the performance of the portfolio at regular intervals.

For  Mutual Funds investors here to help you. We have been recommending equity mutual fund portfolios for SIPs every month since October 2016. The portfolios have been created for three different individual risk profiles: conservative, moderate and aggressive. We have also considered three SIP baskets - between Rs 2,000-5,000, between Rs 5,000-10,000 and above Rs 10,000 - while creating the portfolio.
Source - ET
Top  mutual funds to start an SIP in 2017
Methodology
ET Mutual Funds has employed the following parameters for shortlisting these mutual fund schemes.

1. Mean rolling returns : rolled daily for the last three years.

2. Consistency in the last three years : The three-year period is divided into smaller time periods each with a progressing weighting.

3. Downside risk : We have considered only the negative returns given by the mutual fund scheme for this.
X =Returns below zero
Y = Sum of all squares of X
Z = Y/number of days taken for computing the ratio
Downside risk = Square root of Z
4. Outperformance : It is measured by Jensen's Alpha for the last three years. Jensen's Alpha shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the market.

Average returns generated by the MF Scheme - [Risk Free Rate + Beta of the MF Scheme * {(Average return of the index - Risk Free Rate}

5. Asset size : For equity diversified funds, the threshold asset size is Rs 100 crore, and Rs 50 crore for balanced funds.

We have also conducted a back testing of our model portfolios. These returns are forward returns from the base date.
Balanced fund -
Investors not looking to take high risk, in other words, for conservative investors, following funds are the top picks. Select all Growth or direct option.

ICICI Balanced Fund
HDFC Balanced Fund
Birla Sun Life Balanced Fund

Large cap Fund -
Investors willing to take high risk, in other words, for aggressive investors, following funds are the top picks. Select all Growth or direct option.

Mirae Assest Emerging Bluechip Fund
HDFC Top 200 Fund
SBI Small and Midcap Fund
ICICI Prudential Value Discovery fund
Birla Sunlife Top 100
L&T Mid cap fund