As much as 73.6 percent of active fund managers of mid-/small-cap schemes underperformed the benchmark despite the S&P BSE 400 MidSmallCap Index jumping 44 percent in 2023. However, the number of large-cap equity funds beating their benchmarks improved in 2023 as only 52 percent of actively managed funds underperformed the S&P BSE 100 last year against 88 percent in 2022.
Valuations in Indian markets have become reasonable: Mirae's CIO Surana
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