The mutual fund market boomed in 2019, as India saw a shift of money from real estate and gold to MFs. The MF Industry’s AUM has grown from Rs. 10.90 trillion as on 30th November, 2014 to Rs 27.05 trillion as on 30th November, 2019, a 2.5 times increase in five years. Number of mutual fund accounts have grown for the 66th consecutive month. Here are the top five equity fund performers.

Among equity funds, the top performers delivered substantial returns in 2019, with one fund - IIFL Focused Equity Fund (Direct Growth) - seeing over 30% in one year returns. Nearly 27% of the fund's AUM has been in banking stocks, especially ICICI Bank, HDFC Bank and Axis Bank. 

Tata Banking and Financial Services Fund was another top performer. The fund delivered 29.2% returns over the year, with 34% of its AUM invested again, in the same two stocks - HDFC Bank and ICICI Bank - as the top performing equity fund. It's third biggest holding was Housing Development Finance Corp.

Sundaram Financial Services Opportunities Fund delivered 28.9% returns over the year. The fund had 38.3% of its holdings in HDFC Bank and ICICI Bank, and its third holding was the same as the Tata Banking and Financial Services Fund - Housing Development Finance Corp. 

Taurus Banking and Financial Services Fund delivered 26.7% returns over the year. The top two holdings - which had 40% of the fund's AUM - are the same two familiar stocks, ICICI Bank and HDFC Bank. In addition, the fund had substantial holdings in Kotak Mahindra Bank and State Bank of India. 

Baroda Banking and Financial Services Fund delivered 24.7% returns over the year. The top four holdings were the same as Taurus fund, and top two holdings identical as all the other top performers. It also had the highest AUM% invested in HDFC Bank and ICICI Bank compared to the others, at 47%. 

To see all mutual funds and sort by category, performance, etc, see here.