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.
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