BS jury picks best fund managers in the debt and equity category

While the equity categories had a bumper year, the going was tough for debt fund managers

After the initial shock of the pandemic, the equity markets rebounded strongly, aided by record foreign inflows, rising pace of vaccinations and a gradually improving economy. With interest rates in key markets at record lows and ample liquidity available, there was a rush towards riskier assets.

The result was that the small- and mid-cap categories outperformed their larger peers for the second year in a row. However, unlike last year, the equity rally this year (12 months ended September 2021) was more broad-based. While the small-cap indices such as the IISL Nifty Smallcap 250 delivered returns of 89 per cent,