The recent past has seen equity diversified funds rising from their lows. However, for investors who are looking too make money with a long-term perspective, it would be advisable that they take a close look at performances of indices and funds and do the necessary comparisons before coming to any sort of conclusions. In short, don't jump the gun.
The Bombay Stock Exchange sensitivity index Sensex has of late been witnessing a rally in the bear market that it had been wallowing in. The index has gained 19.62 per cent in the past one month and 30.6 per cent in the past three months as of April 24, 2009.
However, as far as equity diversified funds as a category are concerned, this positive sentiment was not enough to make them power to greater gains that they were used to clock during the heyday of the boom.
In fact, the fund category, far from outpacing the Sensex' returns, managed returns that were 1 per cent and 7 per cent lower than the index in the one-month and three-month return respectively.
Beaten by the index
|
|
Returns 1-Mth
|
Returns 3-Mth
|
|
Equity Diversified
|
18.82
|
22.92
|
|
BSE Sensex
|
19.62
|
30.60
|
The brightest stars to have emerged in this recent rally are mid-and small-cap funds. In the one month period ending April 24, 2009, 82 funds have been able to outshine the BSE Sensex index while 97 funds have been able to beat the category's average return. JM Basic has turned out to be the biggest gainer with a return of 35.84 per cent. It is followed by Magnum Midcap, Principal Junior Midcap, JM Emerging Leaders and Magnum Emerging Businesses.
In the three-month period ending April 24, 2009, just 12 funds have managed to outperform the Sensex as well as the category average. Principal Junior Cap led the pack with 32 per cent returns. The others were Principal Emerging Bluechip, Taurus Infrastructure, JM Basic and DBS Chola Opportunities.
Sensex-Beating Funds
|
Top 15 funds**
|
1-Month Return*
|
|
JM Basic |
35.84 |
|
Magnum Midcap |
32.90 |
|
Principal Junior Cap
|
32.02
|
|
JM Emerging Leaders
|
30.83
|
|
Magnum Emerging Businesses
|
30.54
|
|
Canara Robeco Emerging Equities
|
30.45
|
|
Taurus Infrastructure
|
30.34
|
|
JM Small & Mid-Cap Reg
|
28.51
|
|
Sundaram BNP Paribas S.M.I.L.E. Reg
|
27.97
|
|
DBS Chola Opportunities
|
27.79
|
|
DBS Chola Midcap
|
27.30
|
|
Sundaram BNP Paribas Select Midcap Reg
|
26.50
|
|
Principal Emerging Bluechip
|
26.43
|
|
ICICI Prudential Discovery Inst I
|
25.71
|
|
Canara Robeco Equity Diversified
|
25.57
|
*Ending
April 24, 2009
**Out of 82 funds
Outperforming the Sensex
|
Top Funds
|
3-Month Return*
|
|
Principal Junior Cap
|
35.82
|
|
Principal Emerging Bluechip
|
35.11
|
|
Taurus Infrastructure
|
34.36
|
|
JM Basic
|
34.01
|
|
DBS Chola Opportunities
|
33.31
|
|
JM Emerging Leaders
|
32.72
|
|
Templeton
|
32.53
|
|
Mirae Asset
|
31.69
|
|
Principal Large Cap
|
31.67
|
|
Mirae Asset
|
31.40
|
|
Canara Robeco Infrastructure
|
31.26
|
|
Canara Robeco Equity Diversified
|
30.73
|
*Ending
April 24, 2009
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