New Delhi, Aug. 28 -- Multi-asset allocation funds have emerged as the clear standouts within the hybrid schemes category over the past year, helped by a powerful rally in gold and silver and the flexibility to shift between asset classes as market conditions change.

Hybrid schemes include balanced hybrid, arbitrage, balanced advantage, equity savings and aggressive hybrid.

On a one-year basis, 360 ONE Multi Asset Allocation Fund led the pack with a 27.1% return, followed by Kotak Multi Asset Allocation Fund (22.2%), Quant Multi Asset Allocation Fund (21.2%) and DSP Multi Asset Allocation Fund (20.7%), showed data by Value Research. Mint has considered only direct plans for this analysis, meaning investors buy directly from the fund hou...