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The country's best share their views on what is weighing on active funds and explain why investors shouldn't panic

India has been one of the few markets in which actively-managed equity schemes did overwhelming better than their benchmarks. However, this trend has been challenged in the past two years, with over three out of four active schemes failing to generate the so-called alpha. Prashant Jain, executive director and chief investment officer, HDFC Mutual Fund has underscored some key factors that explain why active funds have been struggling.

“The last two years have been particularly challenging for active fund managers, as the top five stocks have given the bulk of the returns. By