The purpose of this study is to analyze the effectiveness of open-ended, growth-oriented equity schemes in the transition economy throughout the five-year period beginning in April 2018 and ending in March 2022. In order to compute the returns from the various fund schemes, the daily closing NAV was used from each of those fund schemes. For the market portfolio, the BSE-Sensex has been used. The past performance of the chosen schemes was analyzed using the measure developed by Sharpe, Treynor, and Jensen. The findings of this analysis will be helpful to investors in making more informed choices about their financial investments. According to the findings of the research, only 14 of the 30 different mutual fund schemes had achieved a return that was higher than the benchmark. The findings also revealed that some of the schemes had not met the expectations set for them; these schemes were struggling with the diversification issue. According to the findings of the research, the Sharpe ratio was positive for all schemes, indicating that funds were giving returns that were higher than the rate at which there was no risk. The results of the Jensen measure showed that 19 out of 30 different schemes had positive alpha, which suggested that the schemes had greater performance. The purpose of carrying out this study is to determine which kind of investing strategy is most often used in Indian mutual funds: conventional. In addition to that, the purpose of the research is to investigate the function of investing mutual funds in Indian. This study also finds out the factors that have an effect on investments in mutual funds and measures the performance of mutual funds using models that are used all over the world to evaluate the investment tendency in the area of mutual funds through portfolio (Risk/Return) Sharpe Measure and Treynor Measure, to make the best point for investment through graphical representation for both conventional and Indian private banks investments, which makes it much easier to make a better decision for investment either by selling or buying.