PL Wealth Management: Value, Contra & Dividend Yield Funds was the best performing category, where 96% of the schemes outperformed the benchmark
FinTech BizNews Service
Mumbai, 21 November, 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 have witnessed a decline by -4.03% sequentially to INR 25,36,803 crore in October 2024 from INR 26,43,291 crore in September 2024 (excluding Sectoral / Thematic Funds). The study which is based on 240 open-ended equity diversified funds cited that 80% of these funds have outperformed their respective benchmarks over the past one month, ending October 31st 2024. The cumulative total of funds that outperformed stood at 192 during the month ending October 31st 2024 (one month).
Category
| Benchmark | Number of Schemes | Number of schemes that Outperformed | Scheme Outperformance (%) |
Large Cap funds | S&P BSE 100 - TRI | 25 | 21 | 84% |
Large & Mid Cap Funds | NIFTY LargeMidcap 250 - TRI | 26 | 22 | 85% |
Multi Cap Funds | Nifty500 Multicap 50:25:25 - TRI | 26 | 20 | 77% |
Flexi Cap Fund | NIFTY 500 - TRI | 35 | 30 | 86% |
Mid Cap Funds | Nifty Midcap 150 - TRI | 27 | 22 | 81% |
Small Cap Funds | Nifty Smallcap 250 - TRI | 25 | 15 | 60% |
Focused Funds | NIFTY 500 - TRI | 23 | 15 | 65% |
Value Contra Div. Yield Funds | NIFTY 500 - TRI | 26 | 25 | 96% |
Equity Linked Savings Schemes | NIFTY 500 - TRI | 27 | 22 | 81% |
Total |
| 240 | 192 | 80% |
Source: Ace MF
Value Contra Div. Yield Funds was the best performing category where 96% of the schemes outperformed the benchmark. It was followed by schemes of Flexi Cap Fund and Large & Mid Cap Funds which outperformed their respective benchmarks by 86% and 85% respectively during the month of October 2024.
Small Cap Funds Funds were the least performing fund category with only 60% of funds outperforming the benchmark.
