Most
equity mutual funds have been able to give less return than their benchmark on
a one year basis. This information has come up in a research. S &
P Dow Jones Index Score Card (SPIVA) which tracks the actively managed mutual
funds in India, it is one year, three years, and five years and researches it
on file for 10 years.
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| Equity Tips |
According to
the Underperform Report, which is funding a lot , 59.4%
large cap funds and 72.1% Mid and Smooth Cap Funds were underperforming on a
year-end in the year ended on December 29. This underperform was doing
with their benchmark. According to SPIVA, the same is happening in the
bond fund. About 34 percent of composite bond funds were underperforming
their benchmark compared to 1 year.
According to
the under-farm report, which has been financing more than three
years, 53 percent of the large equity cap funds were underperforming
S & P BSE 100 benchmark according to the 3-year period. In the mid and
small caps, this percentage was 80 per cent. Their benchmark was S & P
BSE MidCap.
127 funds in 2007 were available for investment
In 2007, 127 large-cap funds were available
for investment only. Of these, 38 funds were closed during the 10 years
till December 29, 2017, or they merged. According to Akash Jain, associate
director of Asia Index of Global Research and Design, about 70 percent of the
funds remained in this period. In the Asia index, Mumbai Stock Market and
S & P Dow Jones hold 50-50 per cent stake.
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