Close-ended equity mutual funds are struggling due to poor returns: What investors should do The entire investor experience in close-ended mutual fund format hangs on market conditions prevailing at maturity. Synopsis A look at the performance of all active close-ended equity funds suggests more rollovers and conversions could be in the offing. Of the 85 schemes currently active, as many as 55 are underperforming their benchmarks. Twenty one have NAVs below the NFO price. At least 11 of these will mature in the next three months. These could potentially seek extension of maturity or convert. Several close-ended equity funds nearing maturity are seeking tenure extension or are converting into open-ended funds. With the schemes sitting on anemic returns or losses, the respective fund houses hope to squeeze out better returns from the current market uptick.