More than two of every five diversified equity schemes in red in H1FY19

Around 45% of the 408 schemes, including direct plans, have given negative returns; 75 % of the schemes have underperformed the benchmarks

More than two of every five diversified equity scheme has given negative returns in the first six months of the financial year 2019. 

Around 45 per cent of the 408 schemes, including direct plans, have given negative returns, data from Value Research shows; 75 per cent of the schemes have underperformed the benchmarks. 

Small-cap schemes fared the worst with average six-month returns of -11.4 per cent, while large caps emerged the best among equity schemes with returns of 6 per cent. Market observers attribute the underperformance to large sums of money chasing too few stocks, and the impact of regulatory