Equity-oriented mutual fund schemes generated returns of about 25 per cent during the lockdown period amid a recovery in broader markets and liquidity infusion by the RBI coupled with the government's stimulus measures, experts said. However, some analysts believe this is nothing more than a bear market rally. Although mutual funds gained from the bounce back from March lows, their long-term returns still look bad, said Vidya Bala, co-founder of PrimeInvestor.in.
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