With the Sensex rising to 14,625, equity funds played the lead role over last week.
While none of the equity categories have posted a negative return last week, some of the debt categories did post negative returns owing to the rising yield of the 10-year benchmark paper.
The pharma category has given the highest returns of 5.27 per cent during the week while its benchmark, the BSE Healthcare index has returned just 1.74 per cent during the same time period. Magnum Pharma led the pack with a 10 per cent return.
The tax planning and diversified equity fund categories followed with a return of 5.12 per cent and 4.83 per cent respectively. Both the categories could not beat the returns of its benchmark index Sensex which returned 5.31 per cent. But 9 tax planning funds and 87 diversified equity funds were able to beat the index.
The best performing tax saver was Bharti AXA Tax Advantage with returns of 8.13 per cent. It was followed by Tata Infrastructure Tax Saving (7.83%), Birla Sun Life Tax Plan (6.55%), Sundaram BNP Paribas Taxsaver (6.49%), IDFC Tax Advantage (5.98%), Baroda Pioneer ELSS 96 (5.9%), Kotak Tax Saver (5.74%), Sahara Tax Gain (5.5%) and DSPBR Tax Saver (5.33%).
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The top diversified equity funds were JM Core 11 Series 1 (9.87%), JM Basic (8.74%), Sundaram BNP Paribas Select Midcap (8.29%), Tata Service Industries (8.14%) and DBS Chola Small Cap (7.82%).
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The banking funds followed with a return of 4.61 per cent while the BSE Bankex index delivered 5.5 per cent. JM Financial Services Sector was the only fund that could beat the benchmark with returns of 5.81 per cent.
Technology funds returned 4.37 per cent and the BSE IT index returned 5.92 per cent. Here too, just one fund—Franklin Infotech managed to outpace the index delivering a return of 6.21 per cent.
The three-fund FMCG category returned the least among all equity categories with returns of 1.78 per cent. The BSE FMCG index returned a lower 0.77 per cent. All the three funds were able to out perform the index. Franklin FMCG led with 2.75 per cent returns. It was followed by Magnum FMCG (1.74%) and ICICI Prudential FMCG (0.88%).
On the debt side, liquid plus and floating rate short-term funds led the pack each with returns of 0.09 per cent. Ultra short-term and floating rate long term funds followed with returns of 0.08 per cent and 0.03 per cent respectively.
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All the other categories were in red with medium term debt funds shedding the highest 0.27 per cent. Others were medium and long term gilt funds (-0.4%), short term gilt funds (-0.09%) and short term debt funds (0.07%).
Gold ETFs delivered 2.22 per cent returns in the past one week.