Fund Radar: The bold new faces of value investing

For years, smart beta value indices looked like a fading relic. Of the four smart beta value indices, only one—Nifty 50 Value 20—managed to outshine the broader BSE 500. The rest trailed behind, often by significant margins. But over the past two years, there’s been a sharp plot twist. Suddenly, the laggards have stolen the show. Over the last two years, the BSE Enhanced Value Index, Nifty 500 Value 50 and Nifty 200 Value 30 have not only caught up but overtaken the BSE 500 by wide margins in terms of returns. In fact, they’re now making the Nifty 50 Value 20—the former star of the value club—look like a tired veteran. Reason for sudden outperformance One word: PSUs (Public Sector Undertakings). These indices loaded up on PSUs, many of which have been on a tear since 2021. For context, the BSE PSU Index has more th