​62% equity funds beat benchmarks in Q4FY26; PPFAS Mutual Fund among top 5 AMCs by outperformance ratio

Around 62% of equity mutual funds outperformed their respective benchmarks in the March quarter, and around 72% of funds outperformed Nifty 50 TRI in the same period, according to a report by Ventura. Here is a detailed breakup.

According to the report, the universe comprised around 354 schemes from 20 AMCs. AUM-wise, the top 20 fund houses are considered. Quarterly absolute returns for the period January–March 2026 were considered.

SBI Mutual Fund, with the largest AUM of Rs 12.79 lakh crore, has 24 equity funds, of which 18 funds outperformed their respective benchmarks and 19 funds outperformed Nifty 50 - TRI.ICICI Prudential Mutual Fund, which had an AUM of Rs 11.72 lakh crore, had 34 equity funds, of which 17 funds outperformed their respective benchmarks and 23 funds outperformed Nifty 50 - TRI.

HDFC Mutual Fund, which had an AUM of Rs 9.57 lakh crore as of March 2026, has 22 equity funds, of which 10 funds outperformed their respective benchmarks, and 17 funds outperformed Nifty 50 - TRI.

Nippon India Mutual Fund and Kotak Mutual Fund had an AUM of Rs 7.65 lakh crore and Rs 6.10 lakh crore, respectively, as of March 2026. Out of 17 equity funds managed by Nippon India Mutual Fund, 13 funds outperformed both their respective benchmarks and Nifty 50 - TRI.Out of 25 equity funds managed by Kotak Mutual Fund, 22 funds outperformed their benchmarks, and 21 funds outperformed Nifty 50 - TRI.

Aditya Birla Sun Life Mutual Fund and UTI Mutual Fund had an AUM of Rs 4.27 lakh crore and Rs 3.98 lakh crore, respectively, as of March 2026. ABSL MF managed 24 funds, of which 14 funds outperformed their respective benchmarks, and 15 funds outperformed Nifty 50 - TRI.UTI Mutual Fund has 18 equity funds, of which seven funds outperformed their respective benchmarks and 10 funds outperformed Nifty 50 - TRI.

Axis Mutual Fund had 17 equity funds, of which 13 funds outperformed their benchmarks and 14 funds outperformed Nifty 50 - TRI. DSP Mutual Fund has 15 equity funds, of which 10 funds outperformed their benchmarks and 13 funds outperformed Nifty 50 - TRI. Lastly, Mirae Asset Mutual Fund has 12 equity funds, of which five funds outperformed benchmarks and eight funds outperformed Nifty 50 - TRI.

Tata Mutual Fund has 20 equity funds, of which 12 funds outperformed benchmarks and 13 funds outperformed Nifty 50 - TRI. Bandhan Mutual Fund has 16 equity funds, of which 10 funds outperformed their benchmarks and 12 funds outperformed Nifty 50 - TRI. Edelweiss Mutual Fund has 12 equity funds, of which 11 funds outperformed their benchmarks and nine funds outperformed Nifty 50 - TRI.

PPFAS Mutual Fund had two equity funds, and both outperformed their respective benchmarks and Nifty 50 - TRI. The report also highlighted that PPFAS Mutual Fund was among the five AMCs which had the highest proportion of schemes outperforming their benchmarks.

The other fund houses included Motilal Oswal Mutual Fund, Invesco Mutual Fund, HSBC Mutual Fund, Franklin Templeton Mutual Fund, Canara Robeco Mutual Fund and Quant Mutual Fund. Quant Mutual Fund has 21 equity funds, of which 10 funds outperformed their benchmarks, and 15 funds outperformed Nifty 50 - TRI.