Majority of the fund managers failed to beat Nifty returns in December
Published On: Friday, January 15, 2021 | By: Team KnowMyStock
The majority of the fund managers failed to beat Nifty returns in December, even as the Indian equity benchmarks continued to hit fresh record highs through the month, propelled by foreign fund flows. Among the underperformers were schemes run by the fund houses of Shankar Sharma (First Global), Sameer Arora (Helios), Bharat Shah (ASK), 2POINT2 Capital, Motilal Oswal, IIFL, Emkay, and Axis, among many others, data from PMS Bazaar showed. Out of 130-odd large-cap and multi-cap schemes analysed, nearly 100 gave lower returns than that of Nifty. Midcap-focused funds were relatively better off, as only 10 out of 19 schemes underperformed the relevant benchmark, while smallcap-focussed schemes fared worse, with 10 out of 13 lagging their benchmark.
In December, all segments of the market saw buying and the indices rose in tandem. Nifty rose 7.8 per cent for the month, Nifty Midcap 5.70 per cent, BSE500 Index 7.7 per cent and BSE Smallcap Index 7.20 per cent.
After stocks staged a solid runup, many analysts have been advising investors to book profit and sit on cash to be deployed when the market corrects.
All benchmark indices have started January on a good note. The midcap and lagecap indices are at all-time highs. Smallcaps are also rising in tandem. Some analysts believe this trend may continue throughout the year.
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