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These Elephants Can Dance

Check out the best and the worst schemes in terms of assets

Going a long way in proving that elephants can dance are some of the largest mutual fund schemes in India.

The BSE Sensex went stale in the period, between July 31 to August 31, posting a negative 0.02 per cent. However, that did not prove to be a dampener as far as average assets under management (AAUM) of different schemes were concerned.

We compared AAUM data for the 284 diversified equity schemes in the two months of July and August to find the funds whose assets grew the most and those that fell the maximum, in percentage terms as well as in absolute (rupee) terms.

16 of the top funds are also the ones that were in the largest 25 funds in July.

One of the bigger schemes in terms of assets is HDFC Top 200, which managed to add to its size by Rs 563.39 crore to Rs 4,565.49 crore in August, a change in terms of percentage from July of only 14.08 per cent.

The other funds whose assets grew the most were Reliance Growth, HDFC Equity and ICICI Prudential Infrastructure. While Reliance Growth registered a gain of Rs 390.78 crore, a change of just 7.42 per cent, HDFC Equity’s assets increased by Rs 336.87 crore, and ICICI Prudential Infrastructure’s assets gained by Rs 276 crore, to Rs 4,230 crore, but the gain was just by 7 per cent.

Out of a total of 284 equity funds, 23 funds saw a fall in their assets. They went into the negative territory as far as differences in their assets were concerned. The bottom rung in terms of change in rupees crore was dominated by IDFC Enterprise Equity Plan A. 

Only two large funds (top 25 by July assets) lost their assets -- DSPBR World Gold Reg (-3 per cent) and Reliance Equity Advantage Retail (-14 per cent).

The fund witnessed a fall of Rs 24.05 crore, making for a percentage change of a negative 2.75 per cent. Banking BeES also ran in the negative as it lost Rs 19.26 crore while Reliance Equity Advantage Retail saw a negative change of Rs 14.41 crore, a percentage change of a negative 0.76 per cent. 

The other two funds at the bottom were ICICI Prudential Target Returns Retail, which witnessed a negative flow of Rs 9.09 crore while Nifty Benchmark ETS registered an outflow of Rs 6.089 crore, a change of a negative 2.77 per cent. 

 

Largest 25 Schemes
     Assets (Rs Cr)    Change
Scheme    Jul-09    Aug-09    %    Rs Cr
Reliance Diversified Power Sector Retail   5,332   5,583   4.71   251.27
Reliance Growth   5,269   5,660   7.42   390.78
Reliance Natural Resources Retail   4,436   4,690   5.71   253.13
Magnum Taxgain   4,177   4,434   6.14   256.44
HDFC Equity   4,003   4,340   8.42   336.87
HDFC Top 200   4,002   4,565   14.08   563.39
ICICI Prudential Infrastructure   3,953   4,230   7.00   276.89
Reliance Vision   3,477   3,652   5.04   175.33
DSPBR T.I.G.E.R. Reg   3,338   3,430   2.76   91.98
Magnum Contra   2,733   2,929   7.17   195.97
Fidelity Equity   2,546   2,664   4.62   117.69
Franklin India Bluechip   2,245   2,379   5.95   133.55
Reliance Equity   2,234   2,297   2.81   62.87
Tata Infrastructure   2,223   2,306   3.73   82.89
Franklin India Flexi Cap   2,176   2,209   1.50   32.71
Morgan Stanley Growth   1,939   2,003   3.33   64.51
Reliance Tax Saver   1,897   1,976   4.20   79.71
UTI Mastershare   1,890   1,999   5.77   109.03
Reliance Equity Advantage Retail   1,887   1,872   -0.76   -14.41
DSPBR Top 100 Equity Reg   1,836   1,963   6.89   126.45
UTI Infrastructure   1,692   1,726   1.97   33.26
HDFC Taxsaver   1,613   1,733   7.41   119.53
DSPBR World Gold Reg   1,588   1,585   -0.21   -3.30
Franklin India Prima Plus   1,545   1,630   5.51   85.16
ICICI Prudential Dynamic   1,539   1,652   7.36   113.32
 

 

Falling Assets - Highest Losers
     Assets (Rs Cr)    Change
Scheme    Jul-09    Aug-09    %    Rs Cr
IDFC Enterprise Equity Plan A   874   850   -2.75   -24.06
Banking BeES   160   140   -12.07   -19.26
Reliance Equity Advantage Retail   1,887   1,872   -0.76   -14.41
ICICI Prudential Target Returns Retail   792   783   -1.15   -9.09
Nifty Benchmark ETS   220   214   -2.77   -6.09
Birla Sun Life Index   42   36   -12.72   -5.31
DSPBR World Gold Reg   1,588   1,585   -0.21   -3.30
Sundaram BNP Paribas Financial Services Opportunities Ret   148   145   -1.73   -2.55
Principal Index   24   22   -7.81   -1.91
Religare Equity   46   45   -3.82   -1.78