
Mirae Asset Hybrid Equity Fund is marginally behind its peers in 2023, pushing it down to the third quartile on a calendar year basis (as of September 30) for the first time in its eight-year-long history. The fund's margin of performance over longer periods has been gradually narrowing. Having said that, an otherwise consistent top performer, the fund seems to be merely going through a lean phase at the moment. Reasons for performance The biggest underperformers have been portfolio heavyweights in the Financial and Technology sectors. The Financial sector's underperformance was majorly driven by HDFC Bank - the current top holding, followed by SBI Bank. As for the Technology
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