67% equity mutual funds outperform benchmarks in August: A look at the performance by category

PL Wealth Management, the wealth management arm of PL Capital - Prabhudas Lilladher, has unveiled its latest study on mutual fund performance. According to the study, 67% of equity mutual funds outperformed their benchmarks in August 2024. This is a significant increase from 39% in July 2024.

Key findings AUM growth: The Assets Under Management (AUM) of equity mutual funds rose by 2.04% to ₹25,64,069 crore in August 2024, up from ₹25,12,846 crore in July 2024. This excludes sectoral and thematic funds.



Performance breakdown: The study analysed 283 open-ended equity diversified funds. Out of these, 190 funds outperformed their benchmarks over the past month, ending August 31, 2024. Performance by category 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 Funds 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: PL Wealth Management) Category highlights Best performers: Large & Mid Cap Funds led with 79% of schemes outperforming their benchmarks. Focused funds followed with 75%. Consistent performers: Multi Cap, Mid Cap, and Flexi Cap Funds each had 69% of schemes outperform their respective benchmarks.

Least Performing: Large Cap Funds showed the lowest performance, with 55% of schemes surpassing their benchmarks. ALSO READ | Kotak Mahindra AMC launches new index fund targeting midcap momentum stocks.