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Franklin India Bluechip Fund witnesses highest outflow in 2019

Franklin India Bluechip Fund has been going through a bad phase for a while now. It has slipped to the third quartile in the last two years.

, ET Online|
Dec 11, 2019, 05.03 PM IST
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Franklin India Bluechip Fund, which manages around Rs 6,753 crore AUM, has seen the most outflows in 2019, shows data from Morning Star India The scheme has seen a total outflow of Rs 1,390 crores in this calendar year. It is the highest outflow among all the equity and debt schemes in the industry.

Franklin India Bluechip has been going through a bad phase for a while now. According to Morningstar data, the scheme slipped to the third quartile in the last two years.

Next in line was Aditya Birla Sun Life Frontline Equity Fund. The scheme has witnessed a total outflow of Rs 1,070 crore in 2019. This scheme manages assets worth Rs 21,255 crore AUM. According to the calendar year performance, the fund was on the 71st spot among the 267 schemes in the large cap category. The scheme is offering 9.53 per cent returns in the last one year, compared to a 14.31% return generated by the benchmark index.

Another scheme from Aditya Birla Sun Life Mutual Fund, Aditya Birla Sun Life Equity Advantage, has also witnessed outflows of Rs 903 crore in 2019. The scheme managed assets worth of Rs 5,070 crore. It offered -13.72% annual returns in 2018 and occupied the 90th slot among 142 schemes in the large & mid cap category.

Next big outflows were seen from ICICI Prudential Value Discovery Fund which has been in the news for its underperformance for a long time now. The scheme offered -4.22% returns in 2018, while the benchmark returned -2.41%. The scheme manages an AUM of Rs 15,188 crore and saw an outflow of Rs 847 crore in 2019.

Motilal Oswal Multicap 35 also met with a total outflow of Rs 721 crore in 2019. The scheme, which was among the favourites of many mutual fund advisors, manages assets worth Rs 13,093 crore. After a brilliant performance in 2018, the scheme generated -7.85% returns in 2018. The sudden exit of its fund manager Gautam Sinha Roy also may have influenced the investors to pull out money from the scheme, said mutual fund advisors.
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