Change of Fortune

In an eventful 2005, there were a few funds that witnessed an extreme change of fortunes. Here are the equity funds which jumped or dipped three quartiles during the last calendar year


On an absolute basis, 2005 wasn't really bad for any equity fund. The least returns generated by a diversified equity fund during the year were about 23 per cent, which is not small. But to conclude that all equity funds have done well during the year would be grossly wrong. This is because any such conclusion about a fund can only be drawn on the basis of its performance vis--vis other funds in the category.

In this light, there are few funds which have witnessed an extreme change of fortunes in 2005 as compared to the year 2004. Here, we are referring to the funds which jumped three quartiles during the last calendar year.

The list includes two sets of diversified equity funds. One is of those which figured among the top 25 per cent in the category in 2004 but fell to the bottom 25 per cent in 2005, and the second set is reverse of this, i.e., funds that jumped up from the last quartile to find a place among the top 25 per cent in the category.

From Top To Bottom Quartile: Principal Growth Fund was the loner in this set. The fund, of late has witnessed wild swings in its fortunes as it moved from last quartile in 2003 to the top quartile in 2004, only to fall back to the former again in 2005.

Principal Growth
2004 2005
Fund Return 41.14 39.22
Category Return 26.09 46.88
Fund Rank 7 77


From Bottom to Top Quartile: Four funds made it to the set of funds that moved up the performance ladder significantly. There was much cheer about for Bonanza Exclusive Growth. The fund was placed right at the bottom of the heap in 2004, before a revival in 2005. Among others, Cangrowth Plus showed an improvement to get a place among the top ten funds after remaining in the bottom quartile in the previous two years.

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BoB Growth
2004 2005
Fund Return 12.72 54.91
Category Return 26.09 46.88
Fund Rank 73 23
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