1. Quant AMC equity funds have an impressive 5-year return performance in lump sum and SIP investments.
2. Last year was not very impressive for SIP investment returns; none of the equity funds older than five years are in the top quartile.  

1. The last 20 years of the Indian stock market have shown multiple winners and loser sectors.
2. FMCG is a clear winning sector it has a compounded annual growth rate (CAGR) of close to 20% which could have resulted in 1 lakh rupees multiplying to 38 lakhs.
3. The second winner is the auto sector with a CAGR of 19.83% and the third winner is the financial services sector with a CAGR of 19.02%
4. The obvious losers are the PSU banks and the pharma industry with a CAGR of 11.76% and 14.32% respectively.

Indian taxation philosophy is primarily driven by the assurance and ease of tax collection. Collecting taxes from certain items (beasts of burden) is very easy for tax collectors and these items assure full tax compliance.