It's ironic that stocks markets did well, but FY21 wasn't the best of years for mutual funds. Last year began with the winding down of 6 managed credit schemes by Franklin Templeton totalling Rs 25,648 crore.

Yes Bank AT1 issue where the Reserve Bank of India moved to write down the value to zero also hurt investor sentiment, especially when the same was repeated with Lakshmi Vilas Bank.

CNBC-TV18's Sumaira Abidi analyses the year that was for mutual funds.

Watch video for more.

(Edited by : Bivekananda Biswas)