Equity Funds
Pharma funds were in the pink of their health in the week ended December 17, 2004. The five-fund category gained a whopping 6.44 per cent over the week to outperform the 5.82 per cent gain of the benchmark BSE Healthcare Index. JM Healthcare Sector fund was the top gainer among the pharma funds—it added 7.49 per cent. Franklin Pharma, Magnum Pharma and Reliance Pharma too zoomed over 6 per cent.
In fact the week proved to be very lucrative for almost all the equity funds' categories with majority of them outperforming their respective benchmarks.
Last week's topper, the FMCG funds, lost their position to end the week in red and become the only equity funds' category to underperform the benchmark—the category lost 0.01 per cent against the 0.60 per cent gain of the benchmark BSE FMCG Index. In the three-fund category, Franklin FMCG and Prudential ICICI FMCG delivered positive returns. But a –1.26 return of Magnum FMCG fund dragged the category return in the negative zone.
Diversified and tax-planning funds gained 2.78 and 3.43 per cent, respectively, as against the 1.81 per cent return of the benchmark BSE Sensex. Technology funds too added 2.98 per cent to outperform their benchmark BSE IT Index, which gained 2.77 per cent over the week. Petroleum funds ended the week up 2.16 per cent.
Equity oriented hybrid funds gave positive returns for the eighth straight week. The category gained a handsome 1.89 per cent in the week.
Bond Funds
Bond funds delivered positive returns in the week ended December 17, 2004, even as uncertainty over the interest rates continue to bother the bond markets.
While cash funds gained 0.09 per cent, income funds ended the week up 0.02 per cent. Gilt medium and long-term lost 0.16 per cent over the week. MIPs (0.43 per cent), debt short-term (0.07 per cent), floaters (0.09 per cent) and gilt short-term funds (0.04 per cent) also delivered positive returns.
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