New Delhi, May 1 -- It is not uncommon to examine the past returns of a scheme before you decide to invest in it. Typically, investors assess the historical returns of a mutual fund scheme across different time lines before deciding to invest in it.

Here, we assess the past returns of Parag Parikh Flexi Cap Fund, which was launched on May 24, 2013. For the uninitiated, a flexi cap fund is the one where fund manager is free to determine the ratio of allocation to stocks across market capitalisation i.e., large cap, mid cap and small cap as long as total exposure to equity and equity related instruments is 65 percent or higher.

As we can see in the table above, if someone had invested Rs.one lakh in Parag Parikh Flexi Cap Fund one year ag...