Mumbai, July 15 (IANS): The assets under management (AUM) of equity mutual funds witnessed a growth of 8.27 per cent sequentially to reach Rs 23,84,727 crore in June, from Rs 22,02,497 crore in May (excluding sectoral/thematic funds), a report showed on Monday.

Around 57 per cent of the funds were able to outperform their respective benchmarks over the past one month, ended June 30, said the report by PL Wealth Management, Prabhudas Lilladher’s wealth management arm.

The report was based on the study of 281 open-ended equity diversified funds.

The cumulative total of funds that outperformed stood at 159 in June.

Multi-cap funds was the best performing category where 75 per cent of the schemes outperformed the benchmark.

It was followed by schemes of focused funds and mid-cap funds which outperformed their respective benchmarks by 64 per cent and 62 per cent, respectively during June, the report mentioned.

Large-cap funds were the worst performing fund category, with only 32 per cent outperforming the benchmark, it added.

Meanwhile, foreign portfolio investors (FPIs) pumped in Rs 15,352 crore into Indian equities during the first half of July.

FPIs made a net inflow of Rs 15,352 crore in equities this month (till July 12).

In June, the FPIs infused Rs 26,565 crore in equities over political stability.