New Delhi, Sept. 20 -- Multi-asset allocation funds have delivered widely different returns over the past year, with just three schemes crossing the 14% mark. 360 ONE Multi Asset Allocation Fund led the category with a 19.91% return, followed by Quant Multi Asset Allocation Fund at 16.29% and Kotak Multi Asset Allocation Fund at 14.68%.

The divergence becomes more interesting when returns are compared with the amount of money invested in these schemes. Some of the highest-returning funds have relatively smaller asset bases, while several of the category's largest schemes delivered more moderate returns. ICICI Prudential Multi Asset Allocation Fund, the largest fund in the data by net assets, returned 3.54% over one year.

Three funds del...