Most equity-based Mutual Funds underperform in last 1 yr: S&P Dow Jones

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Published: March 27, 2017 1:22:55 PM

The analysis is part of S&P Dow Jones Indices' scorecard SPIVA which tracks the performance of actively managed Indian mutual funds against their benchmarks over the one-year, 3-year, 5-year and 10-year periods, as on December 31, 2016.

Asia Index Associate Director (Global Research & Design) Akash Jain said in a statement.

In terms of returns to investors, most of the equity focused mutual funds in the country have underperformed their respective benchmark S&P BSE indices, for one year ended December 2016, says a report, said in a PTI report today.

The analysis is part of S&P Dow Jones Indices’ scorecard SPIVA which tracks the performance of actively managed Indian mutual funds against their benchmarks over the one-year, 3-year, 5-year and 10-year periods, as on December 31, 2016.

Over the one year period, the latest SPIVA India (S&P Indices Versus Active Funds) scorecard showed that 66.29 per cent of large-cap equity funds, 64.29 per cent of ELSS (equity-linked saving schemes) and 71.11 per cent of mid/small cap equity funds have underperformed their respective benchmark indices.

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“Studies reveal that over the one, 3 and 5-year periods ending December 2016, only Indian ELSS funds maintained 100 per cent style consistency,” Asia Index Associate Director (Global Research & Design) Akash Jain said in a statement.

“Over the 10-year period, only 30.63 per cent of Indian Equity Large-Cap funds and 28.57 per cent of Indian Equity Mid-/Small-Cap funds preserved their style,” Jain
added.

The SPIVA Scorecard also revealed that the majority of the composite bond funds underperformed S&P BSE India bond index over one year, 3-year, 5-year, and 10-year periods, said in a PTI report

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Besides, most of the government bond funds underperformed S&P BSE India Government Bond Index over three, five and ten year period, said in a PTI report. Asia Index is a 50-50 partnership between S&P Dow Jones Indices and domestic bourse BSE.

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