Dhirendra Kumar of Value Research made interesting points recently in a column. He looked at the performance of the Nifty versus the universe of actively managed equity mutual funds.
He pointed out that 297 out of 345 actively managed funds (86 per cent) beat the Nifty over the last five years. As much as 90 per cent of the corpus of actively managed equity beat the Nifty in terms of NAV (net asset value) gains versus Nifty total return (dividend plus capital gain). In terms of NAV capital gains versus pure index capital gains, 97 per cent of
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