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While it’s getting tougher for actively-managed funds, especially large-cap funds, to outperform their benchmarks, passively-managed equity funds have been slow to catch up. The real winner in this category is the Target Maturity Funds. But an encore in FY23-24 seems unlikely, though.
The highest net outflows in the income/debt-oriented category was seen in liquid funds, which saw net selling of Rs 56,924.13 crore during the month.
In the large-cap fund category, there is a lot of overlap between schemes, which is limited in midcap and specially small-cap funds.
ELSS funds achieved the second-highest long-term survival rates across all categories in the SPIVA India Scorecard, with 77.8 percent of them still surviving after 10 years.
Banks don’t feel the need to offer competitive rates on certificates of deposit, which are universally below the world’s safest asset: Treasury bills.