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Razor-Thin Advantage

Between the 17K Sensex marks reached in 2007 and again in 2009, some 92 funds are gainers, while 85 are still losers

The Bombay Stock Exchange (BSE) Sensex registered a high of 17,000 points for the first time during September, 2007, at a time when most global indices were at their all-time highs. They have done so again now in 2009, after crashing in 2008.

We take a look at the returns that the funds were able to provide in this turbulent period. To do that, we took the Net Asset Values (NAV) of all the equity diversified open-end funds from September 27, 2007 (when BSE reached 17,000 points) and September 30, 2009.

Out of a constellation of 177 funds, we found that altogether just 12 gave positive returns that were over the 20 per cent mark, 26 funds were able to notch up returns of between 10-to20 per cent, while 25 funds posted returns between 5-to10 per cent.
In all 86 funds gave either zero or negative returns, while 91 funds stayed in positive terrain.

On the other hand, there were around three funds that gave negative returns of over 50 per cent, while 5 funds gave negative returns between 30-to-50 per cent, 9 funds gave negative returns of between 20-to-30 per cent.

That the gainers outnumber the losers by some margin is also clear from the fact that Sensex' market-cap as on September 27, 2007, when the index was at 17,000 points, was at Rs 22,42,869 crore, while now (with Sensex back at 17,000), it is Rs 26,43,159 crore. This signifies that greater amount of wealth has been created, than was the case two years ago.

 

Top Losers & Gainers
Top Losers            
Scheme    NAV (27/09/07)    NAV (30/09/09)    Returns
JM HI FI   13.8   5.6   -59.3
JM Small & Mid-Cap Reg   12.3   5.6   -54.1
JM Contra   11.3   5.4   -52.0
JM Emerging Leaders   14.5   7.7   -47.0
Fortis Future Leaders   12.1   7.3   -39.8
JM Basic   29.4   18.2   -38.3
Fortis Opportunities   27.7   17.6   -36.2
Taurus Discovery   21.2   13.8   -34.8
DBS Chola Global Advantage   14.8   10.7   -27.7
Magnum Midcap   28.4   21.0   -26.3
Top Gainers            
Reliance Regular Savings Equity   19.4   25.7   32.1
ICICI Prudential Discovery Inst I   12.6   16.2   28.9
Birla Sun Life Dividend Yield Plus   50.8   64.7   27.5
ICICI Prudential Discovery   29.4   37.0   25.6
Baroda Pioneer Growth   39.0   48.2   23.6
UTI Dividend Yield   20.4   25.2   23.5
HDFC Top 200   171.2   211.3   23.5
UTI Opportunities   18.5   22.8   23.3
ING Dividend Yield   14.0   17.3   23.3
IDFC Premier Equity Plan A   19.4   23.8   23.0