Equity MFs shine as markets rally

Equity mutual funds have delivered attractive returns in the past one month, thanks to unexpected rally in the stock prices. Average one-month return for equity MFs across categories is nearly 10 per cent. The benchmark indices gained around eight per cent during the same period. With this, average one-year returns of equity MFs have improved to 22 per cent. Large-cap schemes have underperformed during one-month and one-year periods. While banking schemes have been the best-performers, delivering 34 per cent in the past year and 11 per cent in past month