Mumbai, March 19 (IANS). More than half of the equity mutual funds in the country performed better than his category benchmark in NSE in February. This information has been given in a report released on Wednesday.
According to the report of PL Capital’s Wealth Management Branch ‘PL Wealth Management’, “54.08 percent of the 294 Open-Anded Equity Diversified Fund performed better than their benchmark during the month.”
In total, till February 28, 159 funds gave better returns from benchmarks. The performance of small-cap funds was the best in various categories.
About 79.31 percent of the small-cap schemes performed better than the Nifty Smallcap 250 benchmark and joined the top category in February.
The report said that the focused funds also performed strongly. Of these, 67.86 percent surpassed their benchmarks.
Subsequently, Large and Mid-Cap Funds were ranked. In this category, 67.86 percent performed better than their benchmark.
On the other hand, the large-cap fund was the worst performing category, with only 21.88 percent funds better than the Nifty 50 benchmarks.
Other fund categories like Flexi-Cap, Mid-Cap and Equity-Linked Savings Schemes (ELSS) also gave mixed results. Of these, 44 percent to 58 percent performance was better than benchmark.
The report states that small-cap and focused funds remain attractive due to their strong growth ability. At the same time, large-cap funds have struggled to maintain pace with their benchmarks.
In February this year, the total assets (AUM) under management were Rs 23,12,570.67 crore.
The report stated that a strong performance of many equity mutual funds indicates that fund managers have been able to generate high returns for investors in the unstable market.
Another report by PL Wealth Management states that in January this year, more than 26 percent of equity mutual funds in the country performed better than their benchmarks. A report based on analysis of 291 open-end equity diversified funds in January found that 76 mutual funds were successful in giving better returns than their indices during January.
-IANS
SKT/Ekde
