Around 67% equity mutual funds have outperformed their respective benchmarks in August. There were 283 open-ended equity diversified funds and 190 outperformed during the month. In July, 39% of the schemes outperformed their benchmarks.

The assets under management (AUM) of equity mutual funds has surged by 2.04% sequentially to Rs 25.64 lakh crore in August from Rs 25.12 lakh crore in July (excluding Sectoral / Thematic Funds), according to a study by PL Wealth Management.

Large & Mid Cap Funds was the best performing category where 79% of the schemes outperformed the benchmark. This was followed by schemes of focused funds which outperformed their respective benchmarks by 75%. There were 28 focused schemes in the said period and 21 outperformed their benchmarks. During this period, multi cap, mid cap and flexi cap funds were the three categories to have outperformed their respective benchmark by 69% each. Out of 26 multi cap funds, 18 outperformed their bench.