Equity Funds were not able to maintain their positive momentum as
poor market sentiments had spoiled the party during the one week period
ended 16 April 2010.
ULIPS controversy and speculation that RBI will
further tighten monetary policy also caused worry for the investors.
There were fears that a controversy with regard to unit linked
insurance plans (Ulips) will adversely impacts inflows into Ulips which
are a major source of inflows into equities. On 9 April 2010, Sebi
banned 14 private life insurance companies from raising funds through
Ulips without its approval. But on the other hand, debt funds remained
a safer avenue for investments during the week as it gained more than
equity funds.
The key market indicator Sensex and Nifty fell 1.91% and 1.85%
respectively during the one week period ended 16 April 2010. BSE MidCap
and BSE Small-Cap were able to limit their loss to 0.87% and 0.52%.
Among the sector indices BSE Infotech gained the maximum of 3.21%, BSE
Consumer Durable surged 2.27% and BSE Realty climbed 1.46%. Apart from
these sector indices others witnessed loss. In the equity funds,
Infotech Funds gained a maximum of 2.78%, FMCG Funds was the next
biggest gainer with 0.13%. Profit booking in large cap stocks had
dragged the key indices.
In the Debt Fund category Floating Rate Income Funds – Long Term
climbed the maximum of 0.11%. It was followed by Short Term Income
Funds and Floating Rate Income Funds – Short Term with 0.09% each. Gold
ETF gained 0.37% and Arbitrage Fund gained 0.19% during the one week
period ended 16 April 2010.
Equity Funds
Pharma Funds
Pharma Funds category average return fell 0.47% for one week period
ended 16 April 2010. Out of 4 schemes, only 3 outperformed the category
average. UTI Pharma & Healthcare Fund emerged as the top-performer
on the return front. The fund posted a growth of 0.73% over the one
week period SBI Magnum SFU – Pharma Fund was the worst performer in the
category with a fall in return of 0.99% for the one week time period.
Banking Funds
Funds from the Banking Funds category witnessed a fall in average
return by 3.03% over the one week period ended 16 April 2010. All the 7
schemes witnessed loss during the one week period. Sahara Banking &
Financial Services Fund had a minimum loss of 2.12% while JM Financial
Services Sector Fund had a maximum loss of 3.80%.
Tax Savings Funds
Tax savings mutual funds also known as equity linked savings schemes
(ELSS) witnessed a fall in category return by 1.14% over week period as
on 16 April 2010. Escorts Tax Plan and Quantum Tax Savings Fund were
the 2 schemes to witness surge in NAV while the others faced fall in
NAV. Escorts Tax Plan surged by 1.22% and Quantum Tax Savings Fund
climbed 0.21%. LICMF Tax Plan and Axis Tax Saver Fund were the worst
performers with a fall of 2.16% and 1.97% respectively.
Index Funds
The Index Fund category average return fell by 1.83% for the week
end. All the schemes in this category witnessed erosion in NAV.
Benchmark S&P CNX 500 Fund and ING Nifty Plus were able to limit
their losses to 1.51% and 1.66%.
FMCG Funds
FMCG Funds category average return is 0.13% for the week end period,
which has underperformed the BSE FMCG Sector which gained 0.31% during
the week. Franklin FMCG Fund jumped 0.38%, ICICI Pru FMCG Fund climbed
0.32% during the week. While SBI Magnum SFU – FMCG Fund saw erosion in
NAV by 0.30%.
Infotech Funds
Funds from the Infotech Fund category posted an average return of
2.78% over the one week period ended 16 April 2010. The performance of
this category has bettered the performance of the previous week. Out of
5 funds, 2 bettered the category average. ICICI Pru Technology Fund
surfaced as the best performer in this category. In terms of NAV
performance, the fund's NAV grew by 3.57% over the one week period. All
the schemes in this category registered positive growth. Birla Sun Life
New Millennium Fund was the least performer in this category with 2.04%
over one week period ended 16 April 2010.
Infrastructure Funds
The average return of equity infrastructure funds declined by 1.59%
over the one week period ended 16 April 2010. The NAV of all the
schemes had witnessed erosion. Tata Infrastructure Fund slipped the
maximum by 2.45% and Taurus Infrastructure Fund had a lower erosion of
NAV by 0.07%.
Midcap Funds
Equity midcap fund category was able to limit their fall to 0.64%
for the week ended 16 April 2010. SBI Magnum Midcap Fund is the top
performer in this category with 5.11%. It was followed by SBI Magnum
SFU - Emerging Businesses Fund, IDFC Premier Equity Fund - Plan A, DSP
BR Small And Mid Cap Fund were the once with positive returns of 0.68%,
0.15% and 0.08% respectively. Worst performers in this category were
Sundaram BNP Paribas Select Midcap and Sundaram BNP Paribas S.M.I.L.E
Fund with a fall in return of 1.89% and 1.33% respectively.
Largecap Funds
Equity large fund category witnessed a loss of 1.47% for the week
ended 16 April 2010. Escorts Growth Plan is the top performer in this
category with 2.09%. It was followed by Quantum Long-Term Equity Fund
with 0.21%. Worst performers in this category were Sahara Growth Fund
and SBI BlueChip Fund with a loss of 2.32% and 2.29% returns
respectively.
Exchange Traded Fund (ETFs)
Gold ETFs
Gold ETFs
Gold ETF category generated an average return of 0.37% during the
week ended 16 April 2010. Religare Gold Exchange Traded Fund, Kotak
GOLD ETF, UTI-Gold Exchange Traded Fund, Gold BeES witnessed the
highest appreciation of NAV by 0.38%.
Other ETFs:
The other ETF category lost 1.88% during the week ended 16 April
2010. Liquid BeES being the only debt ETF gained 0.08%. Bank BeES and
Reliance Banking Exchange Traded Fund lost 3.14% and 3.13% respectively
to be the worst performers in this category.
Hybrid Funds
Equity oriented balanced fund category average slipped down 0.88%
during the week end period. Escorts Balanced Fund and Benchmark Equity
& Derivatives Opportunities Fund were top performers during the
week end period with 1.03% and 0.09%. LICMF Unit Linked Insurance
Scheme and JM Balanced Fund were the worst performers with a fall of
1.82% and 1.60% respectively.
Debt oriented balanced fund category average return dipped 0.06% for
the one week ended 16 April 2010. Escorts Opportunities Fund emerged as
the top-performer on the return front. The fund posted a growth of
1.54% over the one week period. LICMF Children Fund was the worst
performer in the category with a fall in return of 1.21% for the one
week time period.
Arbitrage Fund scaled up 0.19% over one week period ended 16 April
2010. All the schemes in this category posted positive return during
the week end period. ICICI Pru Equity & Derivative Income Optimizer
emerged as the top-performer on the return front. The fund posted a
growth of 1.04% over the one week period. SBI Arbitrage Opportunities
Fund was the worst performer in the category with a return of 0.07% for
the one week time period.
Debt Funds
Gilt Funds
Gilt Funds – Short Term category fell 0.01% and Gilt Funds – Medium
& Long Term category fell 0.09% during the week. ICICI Pru Gilt
Fund - Treasury and UTI G-Sec Fund - STP topped the Gilt Funds – Short
Term category with 0.10% and 0.06% respectively. All the schemes under
Gilt Funds – Medium & Long Term category witnessed loss in NAV for
the one week period.
Income Funds
The income funds category climbed 0.06% during the week ended 16
April 2010. IDFC SSIF - MTP - Plan A rose up 0.21% and Birla Sun Life
Medium Term Plan climbed up 0.14%. It was followed by SBI Magnum Income
Fund (0.13%) and Birla Sun Life short Term Opportunities (0.11%) among
others. HDFC Income Fund and Tata Income Fund had seen erosion of NAV
by 0.15% and 0.10% respectively during the week end period 16 April
2010.
Short Term Income Funds
Short Term Income Funds category average has grown by 0.09% during
the week ended 16 April 2010. JPMorgan India Short Term Income Fund
climbed up 0.19% and IDFC SSIF - STP scaled up 0.16% among others
during the week. SBI Magnum NRI Investment Fund - STP and Bharti AXA
Short Term Income Fund ended at the bottom of the category with 0.02%
and 0.04%.
Floating Rate Income Funds – Short Term and Long Term category
climbed up 0.09% and 0.11% respectively over one week period. Escorts
Floating Rate Fund and SBI Magnum Floating Rate Plan-STP were the top
performers with 0.10% and 0.09% respectively in Floating Rate Income
Funds – Short Term. ICICI Pru Long Term Floating Rate Plan C and ICICI
Pru Long Term Floating Rate Plan B were the top performers with 0.19%
and 0.17% in Floating Rate Income Funds – Long Term.
Ultra Short Term Fund & Liquid Fund
Ultra Short Term Fund & Liquid Fund categories climbed up 0.08%
each during the one week period ended 16 April 2010. JM Money Manager
Fund - Super Plus Plan and DWS Treasury Fund - Investment Plan scaled
up the maximum of 0.12% under Ultra Short Term Fund. Birla Sun Life
Floating Rate - Short Term scaled up the maximum of 0.16% under Liquid
Funds.
