A significant portion of actively managed mutual funds failed to outperform their benchmark indexes in 2023, , according to SPIVA Year-End 2023 report.A whopping 74 per cent of actively managed mid and small-cap funds underperformed their benchmarks. This means that the majority of these funds failed to deliver returns that beat the average performance of the specific stocks they invest in (represented by the index). Large-cap and Equity Linked Saving Scheme (ELSS) funds also underperformed, but to a lesser extent.
Valuations in Indian markets have become reasonable: Mirae's CIO Surana
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