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Tuesday, March 29, 2011

Weekly Scenario: Equity Funds Closed The Week With Smart Gains

Indian equity market closed the week with smart gains, mainly on institutional support and firm cues from the global arena. Despite escalating turbulences in the Middle East nations, positive vibes came from the introduction of GST bill and the Banking bill in parliament. 

Meanwhile, reports that billionaire investor Warren Buffet intends to use the huge cash pile of his flagship firm Berkshire Hathaway to acquire companies in India raised the sentiments. However the food inflation increased to 10.05% (y-o-y) compared to 9.42% seen previous week. 

The BSE Sensex surged 936.83 points or 5.24% to 18,815.64 during the week ended 25 March 2011.The BSE Mid-cap index gained 3.25% to 6,721.56 and the Small-cap index advanced 2.61% to 8,001.63. All the sectoral indices on the BSE were in the positive terrain.
Among the major categories in equity fund, Index Funds and Large Cap Funds were the highest gainers by 4.94% and 4.30% respectively over the one week period ended 25 March 2011. It was followed by Tax Saving Funds by 4.11%, Multi Cap Funds by 4.04% and Mid Cap Funds by 3.15% 

Among the debt fund categories, Gilt Fund – Medium & Long Term gained the highest by 0.21%, followed by Gilt Funds – Short Term and Income Funds by 0.17% each, Floating Rate Income Funds – Long Term, Ultra Short Term Funds & Floating Rate Income Funds – Short Term by 0.16% each, Liquid Funds by 0.15% and Short Term Income Funds by 0.14%. 

Equity Diversified Funds
 
Large Cap Funds: The Large Cap category clocked an average return of 4.30% for the week ended 25 March 2011. Out of 50 funds considered, 27 outperformed the category average. L&T Hedged Equity Fund emerged as the top performer by gaining by 5.18%. It was followed by JM Equity Fund which gained 5.09%, BNP Paribas Equity Fund and Birla Sun Life Top 100 Fund which climbed up 5.07% each. Escorts Growth Plan and Tata Equity Management Fund ended at the bottom this category gaining by 1.55% and 2.75% respectively. 

Mid Cap Funds: Funds from Mid Cap category posted an average return of 3.15% over the one-week period ended 25 March 2011. Out of 43 funds, 23 bettered the category average. JM Mid Cap Fund was the top performer, which gained by 4.41%, followed by HSBC Midcap Equity Fund which climbed 4.35% and Reliance Regular Savings Fund - Equity rose 4.24% among others. Axis Midcap Fund and Religare Mid N Small Cap Fund ended at the bottom of this category gaining by 1.20% and 1.91% respectively. 

Multi Cap Funds: The Multi Cap category clocked an average return of 4.04% for the week ended 25 March 2011. Out of 73 funds considered, 43 outperformed the category average. Birla Sun Life India GenNext Fund and IDFC Equity Fund - A were the top performers, which gained 5.19% each, followed by ICICI Pru Focused Bluechip Equity Fund which climbed 5.06% among others. Edelweiss Absolute Return Fund and Sahara Star Value Fund were the schemes to deliver lower returns in this category gaining by just 0.82% and 1.79% respectively. 

Tax Savings Funds
 
Funds from Tax Savings category posted an average return of 4.11% over the one-week period ended 25 March 2011. Out of 36 funds, 20 bettered the category average. L&T Tax Saver Fund was the top performer, which gained by 4.99%, followed by Baroda Pioneer ELSS ‘96 which climbed 4.98% and Bharti AXA Tax Advantage Fund rose 4.83% among others. Escorts Tax Plan and Canara Robeco Equity – Tax Saver ended at the bottom of this category gaining by 2.04% and 2.98% respectively. 

Index Funds
 
The Index Fund category clocked an average return of 4.94% for the week ended 25 March 2011. Out of 28 funds considered, 23 outperformed the category average. JM Nifty Plus Fund, HDFC Index Fund-Nifty Plan and Birla Sun Life Index Fund were the top performer, which gained by 5.25% each, followed by UTI-Master Index Fund which climbed 5.22% among others. ICICI Pru Nifty Junior Index Fund and IDBI Nifty Junior Index Fund ended at the bottom of this category gaining by 2.85% and 2.99% respectively. 

Hybrid Funds
 
Funds from Equity Oriented Balanced category posted an average return of 2.83% over the one-week period. Out of 30 funds, 18 bettered the category average. UTI-CCP Advantage Fund and JM Balanced Fund were the highest gainer in this category with their NAV appreciating by 4.09% and 3.78% respectively. 

Funds from Debt Oriented Balanced category posted an average return of 1.39% over the one-week period. Out of 15 funds, 7 bettered the category average. LICMF Childrens's Fund and UTI-CRTS were the highest gainer in this category with their NAV appreciating by 3.19% and 2.22% respectively. 

source: NAV India
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