Equity Funds
FMCG funds regained their top position in the week ended December 10, 2004. Last week the three-fund category had lost its position to petro funds. On fire last week, petro funds lost steam this week and shed 2.13 per cent.
Moving back to this week's leader, FMCG funds gained 2.38 per cent to comfortably beat the negative 0.11 per cent return of the benchmark BSE FMCG Index. In fact all the three funds of the category, including Franklin FMCG (0.99 per cent), Magnum FMCG (4.78 per cent) and Prudential ICICI FMCG (1.37 per cent), managed a better return than the benchmark index.
Barring pharma funds, all other equity funds' categories outperform their benchmarks in the week. While diversified and tax-planning funds gained 0.25 and 0.47 per cent, respectively, as against the negative 1.41 per cent return of the benchmark BSE Sensex, technology funds lost 0.97 per cent but not as much as their benchmark BSE IT Index, which shed 1.12 per cent over the week.
Equity oriented hybrid funds gave positive returns for the seventh straight week, thanks to the recent rally in the equity and recovery in the bond markets. The category gained 0.15 per cent in the week.
Bond Funds
Recovery in the bond markets on account of strong liquidity, lower oil prices and falling inflation rate gave a push to the bond funds, with all the categories delivering positive returns.
While cash funds gained 0.09 per cent, income funds ended the week up 0.25 per cent. Gilt medium and long-term added 0.44 per cent over the week. MIPs, debt short-term, floaters and gilt short-term funds gained 0.10 per cent each.
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