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Mutual funds have been selling
Oct 5, 2012


Since the beginning of 2012, FIIs have favoured the Indian share markets. In tandem, the BSE-Sensex has gained nearly 23% during this period. However, it comes as a surprise that that the Indian mutual fund industry has missed out the stock market rally. As per a leading business daily, two-thirds of multi cap funds have underperformed indices such as BSE 100, BSE 200 & BSE 500. While there have been heavy redemptions by unit holders, in our view, this should not be a reason for the funds' underperformance. Though one can argue that the performance should not be judged over the short term, the long term performance of several equity schemes has also been dismal. Even market regulator Securities and Exchange Board of India (SEBI) has expressed its concern regarding the consistent poor performance of mutual fund schemes against the respective benchmarks through many years.

Data source: Business Standard

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