Top 10 Equity Mutual Funds that Lost up to 8% Last Week
Equity mutual funds lost up to 8% last week (from February 10 to 15). The benchmark indices, BSE Sensex and Nifty50, went down by 1.78% and 11.93%, respectively, during the mentioned period.
An equity fund is a mutual fund scheme that invests predominantly in equity stocks. In the Indian context, as per current SEBI Mutual Fund Regulations, an equity mutual fund scheme must invest at least 65% of the scheme’s assets in equities and equity related instruments.
Here are the top 10 that gave negative returns.
Motilal Oswal Focused Fund
The Motilal Oswal Focused Fund is an equity-focused mutual fund that aims to achieve long-term wealth creation. It provides exposure to companies operating in the capital markets theme, including asset management companies, stockbrokers, clearing houses, etc. This was the most affected fund, which went down by 8.18% in the mentioned period.
Shriram Multi Sector Rotation Fund
The Shriram Multi Sector Rotation Fund is an open equity scheme that aims to generate long-term wealth appreciation by investing in equity and equity derivatives of specific sectors that are expected to perform well. It has lost by around 7.79% in the same period.
6 Small-Cap Fund
6 out of 10 mutual funds were from small-cap funds, which offered negative returns. These include Union Small Cap Fund, HSBC Small Cap Fund, LIC MF Small Cap Fund, Bank of India Small Cap Fund, Kotak Small Cap Fund, and Sundaram Small Cap Fund, which offered negative returns of around 7.62%, 7.54%, 7.52%, 7.41%, 7.31%, and 7.15%, respectively.
Invesco India Manufacturing Fund
The Invesco India Manufacturing Fund invests in companies within India’s manufacturing sector. It aims to create wealth by investing in a diversified portfolio of equity and equity-related instruments of companies operating in the manufacturing sector. It delivered a negative return of around 7.05% in the similar period.
JM Small Cap Fund
The JM Small Cap Fund is an open-ended equity mutual fund whose objective is to create long-term capital appreciation by investing predominantly in equity and equity-related securities of small-cap companies, as defined by SEBI. It saw a negative return of 6.94% in the similar period.
Positive Performers
Despite the downturn, around 37 funds (primarily the international funds) offered positive returns in the same period, ranging from 0.03% to 3.51%.
