According to a report by Morningstar, domestic mutual funds made a net investment of Rs 2,524 crore in equities in August 2011, the highest in over three years.
However, domestic equity funds saw the worst monthly return performance since January 2011. Among sector funds, banking and technology funds were the worst performers with these categories falling more than 12 per cent during the month.
Of the mid- and small-cap equity funds, about a quarter of them underperformed the category benchmark index. These funds, which are benchmarked to the CNX Midcap index, saw a sharp decline in August.
With gold prices touching an all-time high in August, gold ETFs registered the highest ever monthly return of 15.2 per cent on an average. With the softening of bond yields, gilt funds and longer tenure bond funds outperformed in August.
Source: http://www.thehindubusinessline.com/markets/stock-markets/article2426600.ece
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