Mumbai, Sept. 22 -- Indian mutual fund (MF) managers outperformed foreign fund managers by portfolio performance in the 11 months through August, a period when benchmark indices declined.

The unrealized loss in mutual funds' pure-play equity portfolio was 49.6% against a 57% mark-to-market (MTM) loss by foreign portfolio investor (FPI) fund managers during October last year to August 2025, according to data by NSE, Association of Mutual Funds in India (Amfi) and National Securities Depository Ltd (NSDL). The benchmark Nifty declined 5% and the broader Nifty 500 fell 7.45% during the period.

Senior industry executives attributed this outperformance to several factors, including the likelihood of better stock-picking skills, increasing mu...