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Top 3 Mutual Funds with more than Rs 2000 crore Outflow

20 June 20245 mins read by Angel One
These Funds have delivered at least 19.1% in the last 12 months; they have underperformed their benchmark which is why investors are exiting these funds.
Top 3 Mutual Funds with more than Rs 2000 crore Outflow
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Several mutual funds have witnessed significant outflows in 2024 (up to May 31st) despite delivering attractive returns of at least 19.1% in the last 12 months. Here we explore the top 3 such mutual funds and investigate the reasons behind investor redemptions even though the funds have outperformed the market benchmark.

While the funds have generated positive returns, they seem to have fallen short of investor expectations, prompting them to move their money elsewhere. We will delve into the specific benchmark each fund trailed.

The following table shows the mutual fund schemes facing outflows:

Fund Name Net Flows (Rs Crore) 1-Year Returns (in %) Benchmark Returns (in %)
Axis Bluechip Fund -2,600 26.7 28.8
UTI Flexi Cap Fund -2,400 19.1 35.5
Mirae Asset Large Cap Fund -2,000 23.8 28.8

Source: Value Research, Net flow values rounded-off

Axis Bluechip Fund – Direct Plan-Growth

Axis Bluechip Fund (formerly Axis Equity Fund – Direct Plan – Growth), managed by Axis Mutual Fund, is an open-ended equity large-cap fund launched on January 1, 2013. It primarily invests in equity and is benchmarked against the S&P BSE 100 TRI.

The fund has a Total Expense Ratio (TER) of 0.64% as of April 30, 2024, and holds total assets worth Rs 32,707.97 crore as of May 31, 2024. It has a turnover rate of 42% and imposes an exit load of 1% for redemptions within 12 months on units exceeding 10% of the investment. The minimum investment and top-up amounts are both Rs 100. As of June 12, 2024, the NAV is Rs 64.85.

Since its inception, the fund has achieved a Compound Annual Growth Rate (CAGR) of 15.64%, outperforming its benchmark, which has a CAGR of 11.69%.

UTI – Flexi Cap Fund-Growth Option – Direct

UTI Flexi Cap Fund, managed by UTI Mutual Fund, is an open-ended equity scheme in the Flexi Cap category. Launched on January 1, 2013, it tracks the NIFTY 500 TRI benchmark and has a Total Expense Ratio (TER) of 0.91% as of April 30, 2024.

The minimum investment is Rs 5,000, with a minimum top-up of Rs 1,000. As of May 31, 2024, the fund’s total assets stand at Rs 23,972.31 crore, and it has a turnover rate of 4%. An exit load of 1% is applicable for redemptions within one year for units exceeding 10% of the investment. The NAV on June 12, 2024, is Rs 310.1194.

Since its inception, the fund has achieved a CAGR of 14.87%, outperforming its benchmark, which has a CAGR of 12.76%.

Mirae Asset Large Cap Fund – Growth Plan- Direct

The Mirae Asset Large Cap Fund, formerly known as Mirae Asset India Equity Fund, is an open-ended scheme under Mirae Asset Mutual Fund in the Equity: Large Cap category. Launched on 10-04-2008, it is benchmarked against the NIFTY 50 TRI and has a Total Expense Ratio (TER) of 1.53% as of 30-04-2024.

The fund requires a minimum investment of Rs 5,000 and a minimum top-up of Rs 1,000. As of 31-05-2024, it manages total assets worth Rs 37,631.07 crore with a turnover rate of 31%. The exit load for investors who have opted for SWP under the plan includes no charge for redeeming 15% of units within the first year, but a 1% charge applies to any excess redemption within this period; no charge applies after one year. For other redemptions (including Switch out, STP out), a 1% exit load applies if redeemed within a year, and none thereafter. The NAV as of 12-06-2024 is Rs 102.854.

The fund has a CAGR of 15.47% since inception, outperforming its benchmark, which has a CAGR of 14.18%.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.

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