April 29, 2020

Excellence in the Fund Industry in India

by Refinitiv.

Refinitiv Lipper Fund Awards Winners: India 2020

The Refinitiv Lipper Fund Award Winners have been announced for India!  The legacy, reputation and quantitative underpinning of what these awards encapsulate reflect a truly independent and uncompromised assessment of fund performance. We congratulate this year’s fund families receiving Asset Class Group awards for their superior firm-wide performance.

  • The merit of the winners is based entirely on quantitative criteria.
  • For more than 30 years and in over 17 countries worldwide, these awards have honored funds and fund management firms that have excelled in providing consistently strong risk-adjusted performance and focuses the investment world on top-funds.
  • Read what winners say about the value these awards create for their firms, clients and the industry.

India 2020 Lipper Fund Awards Winners

Winner Group Award
SBI Funds Management Private Limited Bond
Mirae Asset Investment Managers (India) Pvt Ltd Equity
Kotak Mahindra Asset Management Company Ltd Mixed Assets
Kotak Mahindra Asset Management Company Ltd Overall


Individual classifications of three, five, and ten-year periods, as well as fund families with high average scores for the three-year period are also recognized.  The awards are based on Lipper’s proven proprietary methodology, which can be viewed here.

A Message from Refinitiv Lipper

“In a year of dramatic change across the global economy, climate & the environment and political cultures, it has never been more important to have your investments entrusted with talented and experienced professionals. The Refinitiv Lipper Fund Awards recognize those exceptional managers and fund management groups who navigate these changes and steer your assets into outperforming returns,” said Robert Jenkins, Head of Lipper Research at Refinitiv.

Lipper data covers more than 330,000 share classes in 86 countries. The Lipper Leader ratings are available for mutual funds registered for sale in 47 markets with over 500 fund classifications.

Messages from Winners

See what top-ranked institutions are saying about winning and the fund industry:


“At Axis AMC we have always tried to maintain our investment process such that we can generate sustainble and risk adjusted performance for all our investors across all our offerings. It feels extremely satisfying when what we are tying to do helps investors meet their portfolio objectives. It is also a great honour to be recognized by independent credible organisations such as Refinitiv. This is an important part of creating an ecosystem in the industry that acknowledges good work being done by individual players. ‘’

Chandresh Kumar Nigam, MD & CEO, Axis AMC

“We are honoured to get this award from Refinitiv, globally renowned for providing data and analytics. It’s a creditable validation of the fund’s consistent performance, a result of our robust investment processes. Investors have a plethora of funds to choose from, across categories that sometimes it could be overwhelming. A prestigious recognition like this could be a good reference point for investors.”

Manish Gunwani, CIO – Equity Investments, Nippon India Mutual Fund

“Awards recognize and celebrate hard work and success. To win a Refinitiv Lipper Fund Award means that our efforts and outcomes are recognised by some of the most respected people in the domain. This award is an important compliment and appreciation to our investment and risk management process which has generated wealth for our clients.

Refinitiv Lipper Fund Awards is a trusted brand in Mutual Fund evaluation. Winning this prestigious award would give a stamp of approval on our investment process and investment team. This recognition will boost the energy and the sentiment of the organisation as a whole.


Irrespective of the market conditions, at Canara Robeco, we strive to deliver consistent risk adjusted returns by maintaining an unwavering focus on our Investment Objectives, and following our unique Investment Process within a stringent risk management framework at all times. These have remained to be our key pillars that have given Canara Robeco Mutual Fund’s schemes the required consistency for wealth creation over a longer-term.”

Miyush Gandhi, Fund Manager, Canara Robeco

“Receiving the Refinitiv Lipper Award is a big feather in our cap. The fact that it comes from none other than Lipper is a huge recognition for us. It is coming at a time when our investment track record is gaining meaningful tenure in the country and it is a ratification of the investment process that our Fund Management team has been following. We are extremely thankful to the jury for having selected us for this prestigious award.

The standing of Lipper needs no explanation from my side. Hence the award will be a very special and coveted one for us. It is a recognition of our performance and fund management process from one of the most respected organizations and we will cherish this one forever. It would mean that we are on the right track and would build further conviction to stay on course and continue building stronger products going forward.

An award of this nature is an affirmation of the choice that investors make while investing with us. It would imply that they had chosen the right fundhouse.  It would make them more confident to continue to stay invested with us.’’

Swarup Mohanty, CEO Mirae Asset Investment Managers (India) Pvt Ltd.

“We are honoured to receive the Lipper award for the best Equity fund house. This is continued recognition of Mirae Asset investment team and processes, which has helped our funds generate value for investors”.

Neelesh Surana, CIO, Mirae Asset Investment Managers (India) Pvt Ltd.

“We are proud and honored to receive the Refinitiv Lipper award for our fund. I personally thank all our investors, the trust reposed by them propels us in our endeavor to offer best in class products and services. At Invesco, we believe performance is just an outcome, and that it is only with a robust, repeatable and disciplined investment process that long- term investment success can be achieved. This recognition which we have received from Refinitiv Lipper is important to us as it highlights our long-term consistent results within the category.”

Saurabh Nanavati, CEO, Invesco Asset Management (India)

“It is an honour for the firm to be amongst such high rankers, and win not one but five awards. The Refinitiv Lipper Fund Awards are the industry’s benchmark based on objective, quantitative criteria, recognising exceptional outperformance. I am proud of my fund managers and the entire team who have worked through to have won the awards and it raises the bar for us as a fund management company.”

Nilesh Shah, MD, Kotak Mutual Fund, Kotak Mahindra Asset Management

 “We are delighted and honoured to receive the awards from Lipper. It further boosts our motivation to aim for excellence. The recognition is a testament to our clearly articulated investment methodology and the expertise of the portfolio team managing it. As active fund managers in a crowded asset class, risk management is a key driver of performance and where we can distinguish ourselves over time.”

Sachin Relekar, CIO – Equity, LIC Mutual Fund Asset Management Ltd.

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The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.

The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.

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