Prateek Agrawal, MD & CEO, Motilal Oswal Asset Management, says as performance changes, different cohorts perform, and the flows will come into those cohorts. So the destination will keep changing from time to time. Last month, a lot of money has gone into thematics or sectoral funds and it gets classified as such while a lot of them would have got a lot of mid and smallcap exposure. The trend today is that sector and thematic funds are getting a larger and larger part of monthly inflows. That is skewing the picture a bit. Also, larger funds have full product suite and can only expand in the thematic category.
Don't fall for the bigger-is-better bias
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