About 80% of equity Mutual Funds outperform respective benchmarks in October 2024
About 80% of equity Mutual Funds outperform respective benchmarks in October 2024,
finds PL Wealth Management
· Value, Contra & Dividend Yield Funds was the best performing category where 96% of the schemes outperformed the benchmark
Mumbai, November 21st, 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.
Source: Accord MF
About PL Capital (Prabhudas Lilladher Group):
PL Capital Group is one of India's most trusted financial services providers. Powering financial growth for eight decades, it specialises in research-driven advisory in the Indian capital markets. Its business is spread across 200+ cities in India, catering to institutions, corporates, family offices, HNIs, and retail clients in India and globally. PL has a network of 900+ franchise partners, 1.6 lakh clients, 250+ corporate relationships, and an employee base of 500+. The Group offers a comprehensive range of financial products and services, such as Broking and Distribution, Institutional Equities, Wealth Management, Asset Management, Investment Banking and Securities Finance. PL was recognised as one of the Best Brands 2023 by ET NOW and one of the Best BFSI Brands in India 2022 and 2024 by The Economic Times. PL also won the 36th Jamnalal Bajaj Fair Business Practices Award 2024.
