Mutual funds take a hit but still 80% of equity funds fare better than the benchmarks

According to a latest report by PL Capital, out of the 240 open-ended equity diversified funds, about 80 percent of the funds were able to outperform their respective benchmarks in October.

The benchmark indices along with most of the broader indices lost ground in October but most of the open-ended equity diversified funds were able to stem the losses while falling less than their respective benchmarks.

According to a latest report by PL Capital, out of the 240 open-ended equity diversified funds, about 80 percent of the funds were able to outperform their respective benchmarks in October.

As per the report, while 84 percent of the Large Cap funds outperformed their benchmarks, 85 percent of Large and Mid Cap funds fared better than the benchmarks. Further, 86 percent of the Flexi Cap funds were able to perform better than their respective benchmarks even as around 60 percent of the Small Cap funds outperformed the benchmark.

In October, Nifty 50 TRI fell 6.12 percent while Nifty Midcap 150 TRI and Nifty Small Cap 250 TRI lost 6.43 percent and 3.58 percent, respectively.

Top performing funds - scheme wise

In the Large Cap category, DSP Top 100 Equity Fund - Reg(G) fund, which has assets under management (AUM) totalling Rs 3,433 crore, dipped 4.42 percent while Motilal Oswal Large Cap Fund - Reg(G) was down 4.87 percent.

In the Large Cap and Mid Cap category, Motilal Oswal Large & Midcap Fund - Reg(G) with an AUM of Rs 3,690 crore was down 3.93 percent, followed by SBI Large & Midcap Fund - Reg(G) that posted negative returns of 4.36 percent during the month.

In the Flexi Cap category, Parag Parikh Flexi Cap Fund - Reg(G) gave the highest returns of 3.03 percent. Following it was Helios Flexi Cap Fund - Reg(G), which fell 3.21 percent.

As per data from the Association of Mutual Funds in India (AMFI), net inflows into equity funds in October reached a record high of Rs 41,886.69 crore. The overall AUM of mutual funds in the month of October grew by around Rs 16,355 crore to Rs 67.25 lakh crore.

Top performing funds - category wise

In terms of categories, Small Cap funds were the best performing in October while managing to lose less than the benchmarks while Large Cap funds bore the maximum brunt with an average fall of more than six percent.

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