It may sound odd, but true: many toppers in various mutual fund categories were offering negative returns in the last year. For example, SBI Bluechip Fund, the topper in large cap category, has offered -3.7 per cent in the last year. Similarly, L&T Midcap Fund, the topper in the mid cap category, offered -13.36 per cent in the same period. In fact, 85 per cent of the equity schemes gave negative returns last year, and 71 per cent schemes underperformed their respective benchmark.
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