New Delhi, Aug. 20 -- Only four Focused funds have delivered SIP returns of more than 15% over five years, with Invesco India Focused Fund leading at 18.33%. Mirae Asset Focused Fund was at the other end with a 7.92% return.

Focused funds are equity mutual fund schemes that invest in a concentrated portfolio of up to 30 stocks. Unlike diversified equity funds, which spread investments across a larger number of companies, focused funds allow fund managers to take higher-conviction positions in a limited set of stocks.

This can make the performance of individual holdings have a larger impact on overall fund returns. The data also shows that fund size and recent performance do not necessarily translate into higher five-year SIP returns.

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