The sharp broad-based rally in the equity market during the financial year 2023-24 marked a reversal in fortunes of fund managers. Contrary to past trends, active largecap funds fared much better than midcap and smallcap funds when it came to outperforming the benchmarks. During the year, active largecap funds delivered 38 per cent return on an average vis-a-vis nearly 35 per cent rise in the NSE Nifty 100 Total Return Index (TRI).
Valuations in Indian markets have become reasonable: Mirae's CIO Surana
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