Indian equities declined for the third consecutive week in row
resulting erosion in NAV of equity funds. Mid Cap Funds declined the
most by 3.10%, Pharma Funds by 2.79%, Infotech Funds by 2.71% and Multi
Cap Funds by 2.47% among others during the week ended 11 February 2011.
On the flip side Banking Funds and FMCG Funds witnessed the least
erosion of NAV among the equity funds by 0.17% and 1.02% respectively.
Industrial production came in with a sluggish growth of 1.6% in December
2010, much weaker than previous month of 3.6% on the back of weaker
growth in manufacturing activity.
Arbitrage Funds had gained marginally by 0.01% while Gold ETF's advanced
by 1.08%. Debts funds have been the safer haven during the weak equity
market rally. Gilt - Medium & Long Term and Floating Rate Income
Funds - Long Term surged the highest among the debt fund category
delivering a category return of 0.20% and 0.17% respectively over
one-week period ended 11 February 2011. Gilt - Short Term surged up
0.16%, Floating Rate Income Funds - Short Term & Ultra Short Term
Funds by 0.15% each, Liquid Funds, Income Funds and Short Term Income
Funds by 0.14% each.
Arbitrage Funds
Among the schemes in the Arbitrage Fund category, ICICI Pru Blended -
Plan B Option I was the top performer in this category with a return of
0.15% over one week period ended 11 February 2011. It was followed by
JPMorgan India Alpha Fund and Benchmark Equity & Derivatives
Opportunities Fund with 0.09% each. However nine funds in this category
witnessed erosion in NAV, over one week period. Reliance Arbitrage
Advantage Fund was the worst performer in this category declining by
0.13%.
Floating Rate Income Funds
Floating Rate Income Funds - Short Term: Escorts Short Term Debt
Fund was the top gainer in this category with a return of 0.18% over one
week time period. Canara Robeco Floating - STP was the next highest
gainer by 0.17%, SBI Magnum Income FRP - Savings Plus Bond, SBI Magnum
Insta Cash - Liquid Floater Plan, L&T Floating Rate Fund and
Principal Near-Term Fund - Moderate Plan gained 0.16% each. HSBC
Floating Rate - ST posted a minimum weekly return in this category,
gaining by 0.11%.
Floating Rate Income Funds - Long Term: Sundaram Flexible - FIP
and JM Floater Fund - LTP were the top performers in this category with a
return of 0.29% and 0.21% respectively. ICICI Pru Long Term Floating
Rate Plan C and HDFC Floating Rate Income - Long Term surged 0.17% each,
ICICI Pru Long Term Floating Rate Plan B, Tata Floater Fund and ICICI
Pru Long Term Floating Rate Plan A gained 0.16% each. Tata Floating Rate
Fund - LTP ended at the bottom of this category gaining by 0.12% over
one week time period.
Gilt Funds
Gilt - Medium & Long Term: DWS Gilt Fund and L&T Gilt
Investment Plan were the top performers in this category with a return
of 0.44% each. It was followed by Edelweiss Gilt Fund which surged up
0.35% and Templeton India G-Sec Fund - LTP by 0.31%. Mirae Asset Gilt
Fund - Invest and Mirae Asset Gilt Fund - Savings ended at the bottom of
this category posting a weekly return of 0.05% each.
Gilt - Short Term: Reliance HDFC Gilt Fund Short Term Plan and
Tata Gilt Securities Short Maturity Fund - App were the top performers
in this category with a return of 0.30% and 0.27% respectively. Reliance
Gilt Sec Fund and ICICI Pru Gilt Fund - Treasury were the next top
performers, gaining by 0.25% and 0.21% respectively. IDFC G-Sec Fund -
STP posted minimum weekly return in this category, gaining by 0.07%.
Ultra Short Term Funds
SBI Short Horizon Debt - UST, IDBI Ultra Short Term Fund, Pramerica
Ultra Short Term Bond Fund, JM Money Manager Fund - Super Plan,
Templeton India Ultra-Short Bond, Tata Treasury Manager Fund - RIP,
Taurus Ultra Short Term Bond, Principal Ultra Short Term, Daiwa Treasury
Advantage Fund, JM Money Manager Fund - Super Plus Plan and Baroda
Pioneer Treasury Advantage were the top gainers in this category gaining
by 0.16% each. Mirae Asset Ultra Short Term Bond ended at the bottom of
the category table gaining by 0.10%.
Liquid Funds
Escorts Liquid Plan was the top performer in this category with a return
of 0.19%. ICICI Pru Sweep Plan ended at the bottom of this category
posting a weekly return of 0.10%.