The Assets Under Management (AUM) of equity mutual funds experienced a significant rise of 5.37%, reaching Rs 25.12 lakh crore in July 2024, up from Rs 23.84 lakh crore in June 2024. This growth highlights the continued robust performance of equity funds, as noted by PL Wealth Management, based on data from 283 open-ended equity diversified funds.
The report indicates that 39% of these funds outperformed their respective benchmarks in the month ending July 31, 2024, with a total of 109 funds achieving this feat. AUM reflects the total market value of assets managed by fund managers on behalf of investors.
Among the categories, large-cap funds performed strongly, with 58% of schemes surpassing the S&P BSE 100 TRI benchmark. Large and mid-cap funds saw 24% of their schemes outperform, while multi-cap funds performed better, with 40% of schemes surpassing their benchmarks. Flexi-cap funds had 33% of schemes outperforming, while mid-cap funds had 38% outperforming.
Notably, small-cap funds did not have any schemes that outperformed their respective benchmarks. The best-performing category was Value Contra Dividend Yield Funds, where 78% of schemes outperformed their benchmarks, followed by large-cap and multi-cap funds, with 58% and 40% of schemes, respectively, surpassing expectations.
On the other hand, large and mid-cap funds were the least performing category, with only 24% of funds managing to outperform their benchmarks.
This growth in AUM and the performance trends reflect the dynamic nature of India’s equity mutual fund market, with varied performance across different categories.
