These equity mutual funds failed to outperform their respective benchmarks in three years

May 01, 2024, 08:58:23 AM IST1/8

Down capture ratio?

This ratio is used to measure fund managers overall performance in down markets. A down capture ratio of less than 100 indicates that a fund has lost less than its benchmark in the time period when the benchmark has been in the red zone.

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Underperformers

These five equity mutual fund schemes had the highest down capture ratio in 3 years, according to the data by ACE MF. Out of 285 equity schemes, 57 schemes had a down capture ratio of more than 100.

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Old Bridge Focused Equity Fund

This focused fund had a down capture ratio of 268.09. This indicates that the scheme has lost more than its benchmark when the market was in the red zone.

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Motilal Oswal Large Cap Fund

This large cap fund had a down capture ratio of 244.41. This downside ratio indicates that the scheme has lost more than its benchmark in a three year horizon.

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DSP Multicap Fund

This multi cap fund had a down capture ratio of 151.40 in a three year period. This downside capture of more than 100 showed that the scheme has lost more than its benchmark during the phase when the market was in the red zone.

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WOC Large & Mid Cap Fund

A downside capture ratio of 137.35 shows that in a three year period the scheme has lost more than its benchmark when the market was in the negative zone.

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Mirae Asset Flexi Cap Fund

The scheme had a downside capture ratio of 134.55 which indicates that the scheme has lost more than its benchmark in a three year period.

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The exceptional

Bajaj Finserv Large and Mid Cap Fund had a downside capture ratio of (73.20). Negative downside capture ratio indicates that even in the period when the market was in red or when the market fell, the fund on an average gave positive returns.

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