Equity Mutual Funds AUM Surge by 5.37% in July 2024

The Assets Under Management (AUM) of equity mutual funds rose by 5.37% to Rs 25.12 trillion in July 2024. About 39% of 283 equity funds outperformed benchmarks. Notably, 78% of Value Contra Div Yield Funds led the performance. Large and mid-cap funds lagged with just 24% outperforming.

The Assets Under Management (AUM) of equity mutual funds witnessed a 5.37 per cent increase sequentially, reaching Rs 25,12,845.59 crore in July 2024, up from Rs 23,84,727.69 crore in June 2024, according to PL Wealth Management. This data, derived from 283 open-ended equity diversified funds, indicates that 39 per cent of these funds outperformed their benchmarks in July 2024.

The cumulative count of funds surpassing their benchmarks was tallied at 109 for the month ending July 2024. AUM, a critical metric, measures the total market value of assets managed for clients or investors. Among large-cap funds, approximately 58 per cent of schemes exceeded the S&P BSE 100 - TRI benchmark, based on 31 schemes assessed by Prabhudas Lilladher's wealth management division.

In the large and mid-cap category, 24 per cent of the 29 observed schemes outperformed. For multi-cap funds, 40 per cent of schemes surpassed their benchmarks, while 33 per cent of flexi-cap funds achieved the same feat. Notably, around 38 per cent of midcap fund schemes outperformed, yet no small-cap funds managed to beat their benchmarks.

PL Wealth Management's observations highlighted that the Value Contra Div Yield Funds category was the top performer, with 78 per cent of schemes outperforming the benchmark. This was followed by large-cap and multi-cap funds, with 58 per cent and 40 per cent of schemes, respectively, outperforming in July 2024. Conversely, large and mid-cap funds were the least successful category, with only 24 per cent outperforming the benchmark. PL Capital Group, renowned for its research-driven advisory services in the Indian capital markets, serves a diverse clientele spread across more than 200 cities.

(With inputs from agencies.)