The funds that made it through.
14 funds across 9 categories have cleared Prospera's research framework and Investment Committee review, a strict, deliberately narrow subset of the researched universe, never a copy of it.
Selected from 425 active research candidates, 76 of them individually deep-researched, via Prospera's 5-gate framework, below.
How to read our recommendations
A recommendation is not a prediction. It is Prospera's current highest-conviction reading of the research, category by category, the fund (or two) that ranked highest after the same five gates, the same weighting, and the same IC sign-off applied consistently across every candidate. Primary and Secondary picks both cleared every gate; Primary ranked first at the point of review.
Category-by-category selection
Small Cap
vs. Nifty Smallcap 250 TRIRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 73.4, rated Moderate Buy, and cleared all five research gates. Measured against 21 comparable small cap funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 21.4%, 3-year return 23.6% a year. Lead manager Manish Gunwani since 2023.
Pharma & HC
vs. Nifty Pharma TRIRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 69, rated Moderate Buy. Ranked 1 in its healthcare peer group and approved as Gate 5 conditional: it is 1.0 points below the Gate 5 threshold of 70 but still a Moderate Buy on every measure, so it is offered with that disclosed. Measured against 8 comparable healthcare funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 17.4%, 3-year return 23.0% a year. Tanmaya Desai has managed this fund since June 2011.
Defence
vs. Nifty India Defence TRIRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 69.1. Researched, but not offered in Blueprints: relative score 69.1 is below 70.
Infrastructure
vs. Nifty Infrastructure TRIRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 72.6, rated Moderate Buy, and cleared all five research gates. Measured against 16 comparable infrastructure funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 25.5%, 3-year return 19.1% a year. Lead manager Rohit Singhania has co-managed this fund since June 2010.
Ranked second in the same category, cleared every identical gate.
Prospera Score 65.6, rated Moderate Buy. Ranked 2 in its infrastructure peer group and approved as Gate 5 conditional: it is 4.4 points below the Gate 5 threshold of 70 but still a Moderate Buy on every measure, so it is offered with that disclosed. Measured against 16 comparable infrastructure funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 19.1%, 3-year return 16.5% a year. Lead manager changed in June 2026, so the record under the current manager is very short.
Energy
vs. Nifty Energy TRIRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 63.4. Researched, but not offered in Blueprints: relative score 63.4 is below 70.
Debt
vs. CRISIL Short Dur BondRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 68.2, rated Moderate Buy. Ranked 1 in its liquid peer group and approved as Gate 5 conditional: it is 1.8 points below the Gate 5 threshold of 70 but still a Moderate Buy on every measure, so it is offered with that disclosed. Measured against 37 comparable liquid funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 0.0%, 3-year return 6.9% a year. Liquid funds are close to interchangeable on return; this one is chosen for size, low cost and stable portfolio quality.
Ranked second in the same category, cleared every identical gate.
Prospera Score 65.1, rated Moderate Buy. Ranked 1 in its corporate bond peer group and approved as Gate 5 conditional: it is 4.9 points below the Gate 5 threshold of 70 but still a Moderate Buy on every measure, so it is offered with that disclosed. Measured against 17 comparable corporate bond funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 0.5%, 3-year return 7.3% a year. Corporate-bond category leader on measured evidence: a higher five-year return and a shallower worst fall than HDFC Corporate Bond.
Arbitrage
vs. CRISIL 1-Yr T-BillRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 73.8, rated Moderate Buy, and cleared all five research gates. Measured against 21 comparable arbitrage funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 0.2%, 3-year return 7.5% a year. Manager Hiten Shah since October 2019; the largest arbitrage fund by assets.
Ranked second in the same category, cleared every identical gate.
Prospera Score 72.4, rated Moderate Buy, and cleared all five research gates. Measured against 21 comparable arbitrage funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 0.2%, 3-year return 7.5% a year.
Flexi Cap
vs. Nifty 500 TRIRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 69.3, rated Moderate Buy. Ranked 1 in its flexi cap peer group and approved as Gate 5 conditional: it is 0.7 points below the Gate 5 threshold of 70 but still a Moderate Buy on every measure, so it is offered with that disclosed. Measured against 27 comparable flexi cap funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 12.0%, 3-year return 14.6% a year. Lead manager Amit Ganatra took over in February 2026, so the record under the current manager is short; Prospera caps its manager-quality score for twelve months after any change of lead manager.
Ranked second in the same category, cleared every identical gate.
Prospera Score 66.7, rated Moderate Buy. Ranked 2 in its flexi cap peer group and approved as Gate 5 conditional: it is 3.3 points below the Gate 5 threshold of 70 but still a Moderate Buy on every measure, so it is offered with that disclosed. Measured against 27 comparable flexi cap funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 17.6%, 3-year return 12.2% a year. Prospera's research ranks it behind HDFC Flexi Cap on measured consistency and drawdown, but it holds a valuation discount to its category (portfolio P/E 16 against 29) and the lowest downside capture among the leaders.
Mid Cap
vs. Nifty Midcap 150 TRIRanked first in its category after the full 5-gate funnel and IC sign-off.
Prospera Score 71.1, rated Moderate Buy, and cleared all five research gates with a thin margin (1.1 points above the Gate 5 threshold of 70). Measured against 25 comparable mid cap funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (4.1 years of history): largest fall from a peak 18.5%, 3-year return 20.3% a year. Its track record is about four years, so it has not been measured through a full market cycle.
Ranked second in the same category, cleared every identical gate.
Prospera Score 68.2, rated Moderate Buy. Ranked 2 in its mid cap peer group and approved as Gate 5 conditional: it is 1.8 points below the Gate 5 threshold of 70 but still a Moderate Buy on every measure, so it is offered with that disclosed. Measured against 22 comparable mid cap funds on AMFI weekly Direct-plan NAVs to 30 Sep 2026 (5.0 years of history): largest fall from a peak 16.4%, 3-year return 15.4% a year. Chirag Setalvad has managed this fund since 2007.
What it takes to become a Prospera Recommendation
Gate 1, Eligibility
AUM floor, minimum track record, SEBI compliance, a hard filter, never a score.
Gate 2, Quant Screen
Final Score ≥ 45. Formula-derived, no analyst judgment involved yet.
Gate 3, Top 10
Final Score ≥ 55, ranked within category.
Gate 4, Top 5
Final Score ≥ 62, analyst-validated thesis.
Gate 5, Top 2 / IC Sign-Off
Final Score ≥ 70. Research Head sign-off required, this is the only gate that produces a Prospera Recommendation.
A fund can score HIGH CONVICTION and still not appear here, a recommendation reflects the full committee process, including category limits and IC sign-off, not the score alone. See each fund's own Prospera Verdict for its exact status.