Alpha denotes the excess return a mutual fund is able to deliver over the benchmark return. This is a useful measure of performance and one can judge how the fund manager is doing over a specific period of time.
This may not be present in all the fact sheets. However the benchmark returns are mentioned in many cases. Some fund manager may wish to be reticent about this.
Do not go only by recent alpha of funds when picking them. Look for long term performance and also give some consideration to the fund’s reputation and process adherence.
