Did mutual funds anticipate sideways market?

Balanced Advantage Funds (BAFs) in India have delivered a 3% absolute return on average from October 2021 to present, compared to the -1.5% and -3% returns produced by the Nifty 50 and category average of flexi-cap funds, respectively. BAFs aim to protect downside risk in times of market volatility while participating reasonably in market upside. There are about 28 BAFs in India with a combined AUM of INR1.87tn ($25.2bn). The funds use counter-cyclical dynamic asset allocation models, pro-cyclical allocation models or a hybrid model to allocate between equity and debt.

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