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Stars Shine for ICICI

Once again, ICICI Prudential emerged as the top AMC in the VR Rating Radar for February 2009

The month of February 2009 was yet another month filled with ups and downs at the Value Research Fund Ratings. A total of eight funds joined the ratings family while five were ousted. Out of the eight new members, six funds – Canara Robecco Treasury Advantage Inst, Fidelity Tax Advantage, HSBC Advantage India, LICMF Children Fund, SBI Bluechip and UTI Leadership Equity – were rated for the first time. Canara Robecco Treasury Advantage Inst entered the elite category straight away with a 4-star rating.

Amongst equity funds, UTI Equity entered the elite class with a 4-star rating as well. This was the fund’s first time in the elite class. However, both ING Core Equity and Tata Infrastructure lost their 4-star ratings and moved down to 3-stars. The fall was more significant for Tata Infrastructure as it had been a part of the elite class all through its rating history. The fall can be attributed to its average performance in January.

Another infrastructure fund with a good past record, DSPBR T.I.G.E.R. has been unable to regain its days of glory. The fund, which was first rated in June 2007, lost its elite status in January and failed to regain the same in February either.

A look at the significant changes shows JM Money Manager Super moving up to the 5-star category from its earlier 2-star rating. Kotak Global India also had a significant jump from 1-star to 3-stars in February.

As far as the fund houses are concerned, ICICI Prudential remains at the top of the ladder with 16 elite funds, seven among them being 5-starrers. Closely following it Franklin Templeton with 15 elite funds (three 5-starrers), Birla Sun Life with 14 elite funds (four 5-starrers) and UTI Mutual Fund with 14 elite funds as well (three 5-starrers).


How they Stack Up ?
Fund House  *  **  ***  ****  *****
Baroda Pioneer - 2 1 1 -
Benchmark 2 1 - 1 -
Birla Sun Life 2 5 19 10 4
Canara Robeco 1 - 3 5 4
DBS Chola 5 2 5 1 1
Deutsche - 5 1 2 2
DSPBR - 1 9 2 3
Escorts 1 - - 1 -
Fidelity - 5 2 - -
Fortis - 7 1 - 2
Franklin Templeton 1 5 14 12 3
HDFC - 10 13 8 3
HSBC 8 4 2 4 1
ICICI Prudential 2 5 14 9 7
IDFC 3 3 5 3 -
ING 2 2 7 4 1
J M 6 3 5 3 1
Kotak Mahindra 2 3 11 4 2
LIC 1 4 7 1 3
Morgan Stanley - - 1 - -
Principal Pnb - 5 14 1 1
Quantum - - - 1 -
Reliance 1 3 2 8 4
Religare - - 5 - -
Sahara - 2 - 2 2
SBI 7 8 7 4 3
Sundaram BNP Paribas 1 7 6 3 2
Tata 4 12 10 9 -
Taurus 1 1 2 1 -
UTI Mutual Fund 1 7 15 11 3
As on 28th February 2009