October 22, 2024

48% equity mutual funds outperform benchmarks in September: A look at the performance by category

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PL Wealth Management, the wealth management arm of Prabhudas Lilladher, has unveiled a study highlighting that 48% of equity mutual funds outperformed their respective benchmarks in September 2024. This analysis, based on 287 open-ended equity diversified funds, reveals that a total of 137 funds surpassed expectations during the month ending September 30, 2024.

Performance breakdown by category

The study offers a detailed look at performance across various categories:

Category	Benchmark	Number of Schemes	Number of schemes that Outperformed	Scheme Outperformance (%)
Large Cap funds	S&P BSE 100 – TRI	32	12	38%
Large & Mid Cap Funds	NIFTY LargeMidcap 250 – TRI	29	14	48%
Multi Cap Funds	Nifty500 Multicap 50:25:25 – TRI	26	13	50%
Flexi Cap Fund	NIFTY 500 – TRI	39	20	51%
Mid Cap Funds	Nifty Midcap 150 – TRI	29	19	66%
Small Cap Funds	Nifty Smallcap 250 – TRI	28	21	75%
Focused Funds	NIFTY 500 – TRI	28	14	50%
Value Contra Div. Yield Funds	NIFTY 500 – TRI	32	6	19%
Equity Linked Savings Schemes	NIFTY 500 – TRI	41	18	44%
Total		284	137	48%

AUM growth highlights
The study also notes an increase in assets under management (AUM) for equity mutual funds, which rose by 3.10% sequentially to ₹26,43,291 crore in September 2024.

This figure excludes sectoral and thematic funds, indicating strong overall market performance.

Notable highlights

The Small Cap Funds category stood out as the best performer, with 75% of schemes surpassing their benchmarks. Following closely were Mid Cap Funds and Flexi Cap Funds, which outperformed by 66% and 51%, respectively.

Conversely, the Value Contra Div. Yield Funds lagged significantly, with only 19% achieving benchmark outperformance.

First Published: Oct 22, 2024 12:38 PM IST

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