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In April, contra/value equity mutual funds witnessed a 68% AUM jump to Rs 1,57,946 crore, attracting investors with a higher risk appetite. These funds invest in out-of-favour or undervalued stocks, offering potential returns amid market volatility.
The fund house informed its unitholders that the fund manager of its index funds and ETFs will be changed.
These mutual funds refer to the schemes which follow value investment strategy, with at least 65 percent investment made in stocks. These funds identify stocks that are currently undervalued but are expected to perform well over time as the value is unlocked.
Tata Equity PE Fund is a value mutual fund which has given an annualised return of 17.37 per cent in the past 10 years, thus letting an accumulated investment of ₹14.41 lakh to swell to ₹35.89 lakh in just a decade
Several investors are concerned that since both stocks are among the widely held scrips in their portfolios, it could result in a fire sale of the entity at a beaten-down price.