Equity Funds
A broad-based rally in the Indian stock markets helped equity mutual funds sign off the week ended December 24 in a festive mood, with all the categories outperforming their respective benchmarks.
Tax-planning funds became the largest beneficiaries of the market rally. The 20-fund category gained 2.95 per cent to outperform the 2.39 per cent return of the 30-stock BSE Sensex. Among the tax-planning funds, Libra Taxshield '96 added over 10 per cent in the week. Diversified funds too beat the Sensex with a category average return of 2.54 per cent.
Petroleum funds marginally improved on their last week's performance to deliver 2.17 per cent in the week ended December 24.
Pharma funds, who had topped the return chart last week, managed only 0.87 per cent this time, but successfully beat the 0.50 per cent return of the benchmark BSE Healthcare Index.
FMCG funds, which were the only equity funds' category to deliver negative returns in the week ended December 17, ended in positive territory this time. The three-fund category gained 0.79 per cent to marginally beat the 0.70 per cent return of the benchmark BSE FMCG Index.
Technology funds did well to deliver a positive return even as their benchmark BSE IT Index ended the week in red. The seven-fund category gained 0.12 per cent against the negative 0.78 per cent return of the benchmark Index.
Equity oriented hybrid funds too cashed in on the rally in the equity markets. The category gained 1.59 per cent in the week.
Bond Funds
Barring debt short-term funds, all bond funds delivered positive returns in the week ended December 24, 2004.
While cash funds gained 0.09 per cent, income funds ended the week up 0.32 per cent. Gilt medium and long-term funds, which were down 0.16 per cent in the week ended December 17, 2004, added 0.54 per cent. MIPs (0.47 per cent), floaters (0.10 per cent) and gilt short-term funds (0.14 per cent) also delivered positive returns. Debt short-term funds shed 0.50 per cent over the week.
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