Equity Mutual Funds Show Strong Performance in November 2024; 86% Beat their Benchmarks
A recent report showed that currently, 86% of the Equity mutual funds outperformed their respective benchmarks for the month. Out of a total of 277 equity mutual funds tracked, 237 managed to outperform their benchmarks and 40 failed to reach the mark.
The Contra fund performed very well, as all three funds in the category did better than their respective benchmarks (100%). Small-cap funds also performed quite well, as 27 out of 28 funds (96%) performed better than their respective benchmarks.
Flexi-cap funds also performed well; 90% of them performed better than their respective benchmarks. ELSS or tax-saving funds outperformed with a marginally lower but respectable outperformance rate of 87%.
Multi-cap funds also performed well, with 24 out of 28 funds doing better than their benchmarks, giving an 86% success rate. Large-cap and large-and-mid-cap funds had similar success rates of 84%.
In the Mid-cap fund segment, 24 of 29 schemes managed to outperform their respective benchmarks. Therefore, the success rate is at 83%. The Focused Funds registered a success rate of 82%, wherein 23 out of 28 funds performed better than their respective benchmarks.
The performance of Value Funds is less compared to other categories. Out of 20 funds, 14 funds did better than their benchmarks, which means they had a success rate of 70%.
The study covered broad-based equity fund categories such as large-cap, mid-cap, large-and-mid-cap, small-cap, multi-cap, ELSS, flexi-cap, focused funds, value funds, and contra funds. The study looked at both regular and growth plans. The performance was measured from November 1 to November 28.
The findings are not investment recommendations and should be taken as an assessment of how many funds outperformed their benchmarks in November. Investors are advised to evaluate their risk tolerance, investment goals, and time horizons before making any decisions regarding investments or redemptions.
