57% of equity mutual funds outperform respective benchmarks in June

Around 57% equity mutual funds have outperformed their respective benchmarks in June. As many as 159 out of 281 open-ended equity diversified funds outperformed the benchmarks in June, according to a study by PL Wealth Management.The assets under management (AUM) of equity mutual funds witnessed a growth of 8.27% sequentially to Rs 23.84 lakh crore in June 2024 from Rs 22.02 lakh crore in May 2024 (excluding Sectoral /Thematic Funds).

Source: ACE MF, PL Research | Data as on June 30, 2024

Multi Cap Funds was the best performing category where 75% of the schemes outperformed the benchmark. It was followed by schemes of Focused Funds and Mid Cap Funds which outperformed their respective benchmarks by 64% and 62% respectively in June.

Out of 29 large & mid cap funds, 17 funds outperformed their respective benchmarks in June. There were around 39 flexi cap funds in the said period out of which 22 outperformed their respective benchmarks.

Around 55% of the ELSS funds outperformed against their respective benchmarks in June. There were 42 funds in June out of which 23 outperformed their benchmarks.

Invest and Earn on ET Money – Get up to 9.5% p.a. returns

Large cap funds were the worst performing fund category with only 32% outperforming the benchmark. Out of 31 large cap funds, 10 schemes outperformed against their respective benchmarks in June.