In an effort to expand the reach of passive investing, the Securities and Exchange Board of India (Sebi) is reportedly contemplating a relaxation of regulatory constraints for mutual fund (MF) houses that only offer passive funds. This shift could potentially open the door to a new wave of entrants, sparking a significant expansion in passive investing in India.
The latest S&P Indices Versus Active (SPIVA) India report (for end of 2022) is also out. It once again confirms that active fund managers are struggling to beat the benchmark in several categories. Over the past 10 years, 67.9 per cent of large-cap active funds, 63.9 per cent equity linked savings schemes (ELSS) and 50 per cent of mid-cap and small-cap active funds have failed to beat the benchmark.
Strong case for passive funds
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