New Delhi, Aug. 2 -- A decade of disciplined SIP investing has rewarded investors handsomely in a select group of equity mutual funds. Only seven diversified equity schemes have generated annualised SIP returns of over 20% during the past 10 years, turning a Rs.10,000 monthly investment into a corpus of Rs.34.8 lakh to Rs.38.8 lakh. The list, which excludes sectoral and thematic funds, is dominated entirely by small-cap and mid-cap schemes.

Among the seven schemes, four are mid-cap funds while the remaining three are small-cap funds. Notably, no large-cap, flexi-cap, multi-cap, focused or value-oriented equity fund managed to cross the 20% annualised SIP return mark during the 10-year period.

Nippon India Small Cap Fund emerged as the t...