The pre-2016 ABSL Flexi Cap is long gone. In its current avatar, the fund has failed to deliver significant alpha in a calendar year. Similar trends have been playing out in the AMC's other equity funds too. For instance, our previously recommended ABSL Tax Relief 96 Fund was a long-term outperformer. But it went off the cliff five years back, when a narrow rally in large-caps hurt the fund's performance as it had more exposure to mid- and small-caps. Further, this bias couldn't help the fund perform when those segm
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