Fund managers improve largecap performance and stumble on smallcaps

Fund managers attribute this outperformance to a broad-based recovery in the market and a sharp surge in mid-caps and small-caps

Fund managers of largecap and equity-linked saving schemes (ELSS) have demonstrated a marked improvement in their performance over the past year, according to the latest SPIVA (S&P Indices Versus Active) report released by S&P Dow Jones Indices.

In the one-year period ending June 2023, 17 per cent of active largecap schemes outperformed the S&P BSE 100, compared to just 9 per cent at the end of June 2022.

In the case of ELSS, there was a sharp improvement in performance, with 66 per cent of active schemes delivering better returns than the benchmark S&P BSE 200.

Fund managers attribute this