39 per cent equity mutual funds beat their benchmark in July

Mumbai : More than a hundred open-ended equity diversified mutual funds (excluding sectoral/thematic funds) have outperformed their respective benchmarks in July, a report said on Monday.

According to PL Wealth Management, Prabhudas Lilladher’s wealth management arm, out of the total 283 open-ended equity diversified mutual funds, 109 have outperformed, with the AUM (assets under management) of these equity mutual funds (excluding sectoral/thematic Funds) has surged by 5.37 per cent sequentially to Rs 25,12,845.59 crore in July 2024 from Rs 23,84,727.69 crore in June 2024.

Value contra dividend yield funds were the best-performing category where 78 per cent of the schemes outperformed the benchmark. It was followed by schemes of large-cap funds and multi-cap funds which outperformed their respective benchmarks by 58 per cent and 40 per cent, respectively, in July 2024.

Large & mid-cap funds were the least-performing fund category with only 24 per cent of funds outperforming the benchmark. Smallcap category funds have performed the worst.

None of the 28 small mutual fund schemes have given returns higher than their benchmark Nifty Smallcap 250 index.

Thirteen out of 39 schemes (33 per cent) in the flexicap funds category have delivered returns more than their benchmark Nifty 500.

Eleven out of 29 schemes (38 per cent) in the midcap funds category have delivered returns more than their benchmark Nifty Midcap 150. Ten out of 28 funds (36 per cent) in the focused funds category have given returns more than their benchmark Nifty 500.

The combined AUM of the total mutual fund industry (including sectoral and thematic funds) reached Rs 64.69 lakh crore in July as against Rs 60.89 lakh crore in June. India’s mutual fund industry witnessed the highest ever Rs 23,332 crore SIP inflow in July, against Rs 21,262 crore in June.