67% of equity MFs outperform respective benchmarks in August`24, finds PL Wealth Management PL capital - Prabhudas Lilladher
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PL Wealth Management, PL Capital - Prabhudas Lilladher’s wealth management arm, in its latest study on mutual fund performance analysis cited that the AUM (assets under management) of equity mutual funds has surged by 2.04% sequentially to INR 25,64,069 crore in August 2024 from INR 25,12,846 crore in July 2024 (excluding Sectoral / Thematic Funds). The study which is based on 283 open-ended equity diversified funds cited that 67% of these funds have outperformed their respective benchmarks over the past one month, ending August 31st, 2024. The cumulative total of funds that outperformed stood at 190 during the month ending August 2024 (one month).
Large & Mid Cap Funds was the best performing category where 79% of the schemes outperformed the benchmark. This was followed by schemes of Focused funds which outperformed their respective benchmarks by 75%. During this period, Multi cap, Mid cap and Flexi cap fund were the three categories to have outperformed their respective benchmark by 69% each.
Large Cap Funds were the least performing fund category with only 55% of funds outperforming the benchmark.
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