57% of equity MFs outperform respective benchmarks in June’24,finds PL Wealth Management

The AUM (assets under management) of equity mutual funds witnessed a growth of 8.27% sequentially to INR 23,84,727 crore in June 2024 from INR  22,02,497crore in May 2024 (excluding Sectoral /Thematic Funds), said PL Wealth Management, Prabhudas Lilladher’s wealth management arm, in its latest study on mutual fund performance analysis cited that

The study which is based on the study of 281 open-ended equity diversified funds, cited that 57% of the funds were able to outperform their respective benchmarks over the past one month, ended June 30, 2024. The cumulative total of funds that outperformed stood at 159 during the month ended June 2024 (one month).

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 during the month of June 2024. Large cap funds were the worst performing fund category with only 32% outperforming the benchmark.