48% of equity MFs outperform respective benchmarks in September 2024, finds PL Wealth Management
· Small Cap Funds was the best performing category where 75% of the schemes outperformed the benchmark
Mumbai, October 22nd, 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 has surged by 3.10% sequentially to INR 26,43,291 crore in September 2024 from INR 25,64,069 crore in August 2024 (excluding Sectoral / Thematic Funds). The study which is based on 287 open-ended equity diversified funds cited that 48% of these funds have outperformed their respective benchmarks over the past one month, ending September 30th, 2024. The cumulative total of funds that outperformed stood at 137 during the month ending September 30th 2024 (one month).
| Category
| Benchmark | Number of Schemes | Number of schemes that Outperformed | Scheme Outperformance (%) |
| Large Cap funds | S&P BSE 100 - TRI | 32 | 12 | 38% |
| Large & Mid Cap Funds | NIFTY LargeMidcap 250 - TRI | 29 | 14 | 48% |
| Multi Cap Funds | Nifty500 Multicap 50:25:25 - TRI | 26 | 13 | 50% |
| Flexi Cap Fund | NIFTY 500 - TRI | 39 | 20 | 51% |
| Mid Cap Funds | Nifty Midcap 150 - TRI | 29 | 19 | 66% |
| Small Cap Funds | Nifty Smallcap 250 - TRI | 28 | 21 | 75% |
| Focused Funds | NIFTY 500 - TRI | 28 | 14 | 50% |
| Value Contra Div. Yield Funds | NIFTY 500 - TRI | 32 | 6 | 19% |
| Equity Linked Savings Schemes | NIFTY 500 - TRI | 41 | 18 | 44% |
| Total |
| 284 | 137 | 48% |
Small Cap Funds was the best performing category where 75% of the schemes outperformed the benchmark. It was followed by schemes of Mid Cap Funds and Flexi Cap Fund which outperformed their respective benchmarks by 66% and 51% respectively during the month of September 2024.
Value Contra Div. Yield Funds were the least performing fund category with only 19% of funds outperforming the benchmark.
Source: Accord MF
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