67% of equity MFs outperform respective benchmarks in August’24, finds PL Wealth Management
Mumbai, September 19 2024: 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).
| Category
|
Benchmark | Number of Schemes | Number of schemes that Outperformed | Scheme Outperformance (%) |
| Large Cap funds | S&P BSE 100 – TRI | 31 | 18 | 55% |
| Large & Mid Cap Funds | NIFTY LargeMidcap 250 – TRI | 29 | 23 | 79% |
| Multi Cap Funds | Nifty500 Multicap 50:25:25 – TRI | 26 | 18 | 69% |
| Flexi Cap Fund | NIFTY 500 – TRI | 39 | 27 | 69% |
| Mid Cap Funds | Nifty Midcap 150 – TRI | 29 | 20 | 69% |
| Small Cap Funds | Nifty Smallcap 250 – TRI | 28 | 15 | 54% |
| Focused Funds | NIFTY 500 – TRI | 28 | 21 | 75% |
| Value Contra Div. Yield Funds | NIFTY 500 – TRI | 32 | 20 | 63% |
| Equity Linked Savings Schemes | NIFTY 500 – TRI | 41 | 28 | 68% |
| Total | 283 | 190 | 67% |
Source: Ace MF
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.
About PL Capital (Prabhudas Lilladher Group):
PL Capital Group is one of India’s most trusted financial services providers. Powering financial growth for eight decades, it specialises in research-driven advisory in the Indian capital markets. Its business is spread across 200+ cities in India, catering to institutions, corporates, family offices, HNIs, and retail clients in India and globally. PL has a network of 900+ franchise partners, 1.6 lakh clients, 250+ corporate relationships, and an employee base of 500+. The Group offers a comprehensive range of financial products and services, such as Broking and Distribution, Institutional Equities, Wealth Management, Asset Management, Investment Banking and Securities Finance. PL was recognised as one of the Best Brands 2023 by ET NOW and one of the Best BFSI Brands in India 2022 and 2024 by The Economic Times. PL also won the 36th Jamnalal Bajaj Fair Business Practices Award 2024.
