According to a report released on Monday, the assets under management (AUM) of equity mutual funds increased by 8.27% on a sequential basis to Rs 23,84,727 crore in June from Rs 22,02,497 crore in May (excluding sectoral/thematic funds).
In the month that concluded on June 30, almost 57% of the funds were able to beat their respective benchmarks, according to a study released by Prabhudas Lilladher’s wealth management company, PL Wealth Management.
The analysis of 281 open-ended equity diversified funds served as the foundation for the paper.
In June, there were 159 funds overall that fared better than expected.
The best-performing category was multi-cap funds, with 75% of the schemes outperforming the benchmark.
The research stated that targeted fund schemes and mid-cap fund schemes exceeded their respective benchmarks by 64% and 62% in June, respectively, and were the next in line.
It further stated that large-cap funds were the worst performing fund type, exceeding the benchmark by just 32%.
In the meantime, during the first half of July, foreign portfolio investors (FPIs) invested Rs 15,352 crore in Indian stocks.
Up until July 12, there was a net inflow of Rs 15,352 crore in stocks by FPIs.
Over political stability, the FPIs invested Rs 26,565 crore in equity in June.
