Equity Funds
Decreasing global crude oil prices helped petroleum funds gain 3.37 per cent to lead the equity funds' category for the week ended November 11, 2004.
Last week's leader FMCG funds', which were expected to continue their lead on account of the festival season, underperformed the benchmark to gain 1.83 per cent, against the 3.01 rise of the BSE FMCG Index.
However, FMCG funds category is not the only one to underperform. Barring pharma funds, all other equity categories failed to replicate or perform better than their benchmarks.
Pharma funds gained 0.098 per cent on an average against the negative 1.42 per cent return of the benchmark BSE Healthcare Index.
Diversified and tax-planning funds added 1.65 and 1.90 per cent, respectively, to underperform the benchmark BSE Sensex, which added 2.08 per cent in the week ended November 11, 2004. Technology funds gained 0.94 per cent against the 1.72 per cent gain of the benchmark BSE IT Index.
Equity-oriented hybrid funds' category ended the week up 0.99 per cent.
Debt Funds
Income funds posted negative returns for the third consecutive week ended November 11, 2004. They lost 0.36 per cent. Gilt medium and long-term too suffered--the category lost 0.74 per cent in the third straight week. MIPs ended the week up 0.10 per cent. Debt short-term (0.01 per cent), floaters (0.096 per cent) and cash funds (0.09 per cent) delivered positive returns over the week.
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