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Thursday, July 29, 2010

First time entrants lead CRISIL Mutual Fund Ranking for the quarter ended June ‘10

First time entrants in the equity category bagged the top ranks in the latest CRISIL Mutual Fund Ranking, announced for the quarter ended June 2010. The equity category saw 10 new entrants - six funds in the Diversified Equity category and two funds each in the Large Cap and Small & Midcap Equity categories. Three out of the six new entrants in the Diversified Category - Mirae Asset India Opportunities Fund, Morgan Stanley A.C.E. Fund and Quantum Long-Term Equity Fund - bagged CRISIL Fund Rank 1. While DSP Black Rock Micro Cap Fund, a new entrant, claimed CRISIL Fund Rank 1, in the Small & Midcap category.

According to Tarun Bhatia, Director - Capital Markets, CRISIL Research, “First time entrants in the equity category include those funds that have satisfied the minimum eligibility criteria of two years in existence and minimum average assets under management (AUM) cut off. The toppers scored high on the risk-adjusted returns parameter in comparison to their category peers. During March 2009, when the Sensex was at 8000 levels, the equity allocations of top ranked new entrants in the Diversified Equity category was above 90% as compared to 80% of its peers. So when the markets rebounded from the lows of March 2009, the call of higher equity allocations of these funds paid rich dividends and the rest of the funds had to play catch up”.

At a fund house level, Birla Sun Life Mutual Fund led the tally of top ranked funds with a total of eleven funds under CRISIL Fund Rank 1, closely followed by HDFC Mutual Fund and Reliance Mutual Fund with ten and nine funds under CRISIL Fund Rank 1, respectively. CRISIL's fund rankings covered 436 open-ended funds accounting for 80 per cent of the average assets managed by Indian mutual funds in June 2010.

CRISIL's analysis has revealed that Small and Midcap funds have outperformed Large Cap & Diversified Equity funds during the quarter ended June 2010. Small and Midcap funds gave an average return of 6.75% as compared to 2.76% for Large Cap funds and 3.92% for Diversified Equity funds. At the same time, long term Income funds with higher maturities of 3-5 years gave superior returns of about 2.14% as compared to 1.85% for the peer average.

The ranks are assigned on a scale of 1 to 5, with CRISIL Fund Rank 1 indicating ‘Very Good Performance'. In any peer group, the top ten percentile of funds are ranked as CRISIL Fund Rank 1 and the next twenty percentile are ranked as CRISIL Fund Rank 2.

Funds ranked CRISIL Fund Rank 1 in key categories
Large Cap-Oriented Equity Funds
Income Funds
Fidelity India Growth Fund - Growth
Canara Robeco Income Plan – Growth
Birla Sun Life Frontline Equity Fund - Plan A
HDFC Income Fund – Growth
HDFC Top 200 Fund - Growth
Kotak Bond Regular – Growth
Principal Large Cap Fund - Growth


Liquid Institutional Funds
Diversified Equity Funds
Tata Liquid Fund – SHIP - Growth
Reliance Equity Opportunities Fund - Growth
Birla Sun Life Cash Manager Fund – Institutional Plan - Growth
Birla Sun Life Dividend Yield Plus Fund - Growth

Fidelity Equity Fund - Growth
Liquid Super Institutional Funds
HDFC Equity Fund - Growth
Birla Sun Life Cash Plus Fund - Institutional Premium Plan - Growth
Mirae Asset India Opportunities Fund - Growth
IDFC Cash Fund - Plan C - Super Institutional - Growth
Morgan Stanley A.C.E. Fund - Growth

Quantum Long-Term Equity Fund - Growth
Ultra Short Term Institutional Funds
UTI Dividend Yield Fund - Growth
Birla Sun Life Floating Rate Fund - Long Term Plan - Growth
DSP BlackRock Money Manager Fund - Growth
Thematic – Infrastructure Funds
Kotak Floater Fund - Long Term Plan - Growth
Birla Sun Life Basic Industries Fund - Growth
Reliance Medium Term Fund - Growth
Reliance Diversified Power Sector Fund - Growth


Ultra Short Term Super Institutional Funds
Small and Midcap Equity Funds
IDFC Money Manager Fund - Treasury Plan - Plan C - Super Institutional - Growth
DSP BlackRock Micro Cap Fund - Growth

DSP BlackRock Small and Midcap Fund - Growth
Consistent Performer – Equity
UTI Master Value Fund - Growth
DSP BlackRock Equity Fund - Growth
HDFC Equity Fund - Growth
Equity Linked Savings Schemes (ELSS)
Reliance Growth Fund - Growth
Fidelity Tax Advantage Fund - Growth
UTI Master Value Fund - Growth
Canara Robeco Equity Tax Saver Fund - Dividend

HDFC Tax Saver Fund - Growth

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