Equity Funds
Good times returned to FMCG funds in the week ended October 29. After a three-week losing streak, the three-member category left its benchmark BSE FMCG Index (up 0.28 per cent) miles behind to gain 2.16 per cent and become the top-performing funds' category of the week.
Except the technology funds' category, which gained 1.22 per cent against the 3.58 per cent surge of the benchmark BSE IT Index, all the equity funds' category outperforming their benchmarks. IT funds, though, improved on their previous week's performance-the category had deliver a negative 2.69 per cent returns.
Pharma funds added 1.84 per cent on an average against the 1.35 per cent gain of the benchmark BSE Healthcare Index. Tax planning funds too reversed their two-week losing streak to gain 0.85 per cent. Equity diversified funds followed closely with a gain of 0.69 per cent. Petro funds lost 0.61 per cent.
The positive returns of equity funds was followed by hybrid equity-oriented funds as well--the category gained 0.51 per cent against the last week's loss of 0.45 per cent.
Debt Funds
The week proved to be a disaster for debt funds. Soon after the RBI Mid-term Review of Annual Policy Statement, liquid funds lost three times their year-to-date gain in one day on October 26. In the week ended October 29, liquid funds were down 0.18 per cent. Gilt medium and long term funds lost even more--they delivered a negative return of 0.40 per cent--while debt ultra short-term maintained their last week's return of 8 per cent. Floaters gained marginally to end the week up 0.10 per cent, while MIPs gained 0.02 per cent. Debt short term and gilt short term funds gained 0.04 and 0.01 per cent, respectively.
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