Equity Mutual Funds Show Strong Performance in September 2024
In September 2024, nearly half of equity mutual funds outperformed their benchmarks, with small-cap funds leading the pack. The assets under management for these funds also saw significant growth, indicating increasing investor confidence.
Equity Mutual Funds Show Strong Performance in September 2024
A recent report by Prabhudas Liladhar Wealth Management indicates that 48% of equity mutual funds outperformed their benchmarks in September 2024. The analysis, which covered 287 open-ended equity diversified funds, revealed that 137 of these funds delivered better-than-expected returns, providing a significant boost for investors seeking growth opportunities.
Among various categories, small-cap funds emerged as the top performers, with 75% surpassing their benchmarks. Mid-cap funds and flexi-cap funds followed closely, outperforming their respective benchmarks by 66% and 51%. Conversely, value, contra, and dividend yield funds struggled the most, with only 19% achieving benchmark outperformance.
The report also noted a growth in assets under management (AUM) for equity mutual funds, which increased by 3.10%, rising from Rs 25,64,069 crore in August to Rs 26,43,291 crore in September. This uptick indicates a growing interest from investors in equity mutual funds, likely spurred by the positive performance of these funds.
Pankaj Shrestha, Head of Investment Services at PL Capital, advised investors to maintain their systematic investment plan (SIP) contributions and focus on long-term growth. Over the past three years, SIPs in top quartile equity funds have yielded an average return exceeding 15% per annum.
Click Here to Visit
What's Your Reaction?
