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Petro Funds on Fire

All equity funds' categories gained from the last week's rally in the stock markets, while a stable bond market ensured positive returns for all debt funds' categories

All equity funds' categories gained from the last week's rally in the stock markets, while a stable bond market ensured positive returns for all debt funds' categories

Equity Funds
Petro funds were on fire. The two-fund category surged an average 5.65 per cent to register their highest weekly gain since April 12, 2004. Energy stocks gained in the week after the government cleared the National Electricity Policy.

Diversified and tax planning funds too gained handsomely, an average 4.14 and 4.48 per cent, respectively, and beat their benchmark Sensex, which gained 3.10 per cent.

Among the diversified funds, Taurus Discovery Stock, Magnum Global, Magnum Emerging Businesses, Tata Growth and Taurus Starshare were the top five gainers of the week. While the first three gained over 8 per cent each, Tata Growth and Taurus Starshare zoomed 7.76 and 6.99 per cent, respectively.

LICMF Sensex Advantage, Birla India Opportunities, Alliance Buy India, LICMF Growth and Reliance NRI Equity were the big underperformers of the week.

In the tax-planning funds' category, Magnum Taxgain, Tata Tax Saving, Escorts Tax Plan, Canequity-Tax Saver and Prudential ICICI Tax Plan were the top five gainers. Magnum Taxgain rose over 8 per cent.

LICMF Tax Plan, Birla Equity Plan, Libra Taxshield '96, Alliance Capital Tax Relief '96 and Franklin India Index Tax, however, ended the week at the bottom of the category.

The five-fund category of pharma funds marginally underperformed the 0.20 per cent gain of benchmark the BSE Healthcare Index. The category funds gained an average 0.19 per cent over the week. UTI Pharma & Healthcare, Magnum Pharma and JM Healthcare Sector funds, though, beat the benchmark.

Technology funds continued their good show. The seven-fund category added an average 2.48 per cent to outperform the 2.09 per cent gain of benchmark the BSE IT Index. Alliance New Millenium and DSPML Technology.com were the top two gainers of the week. Kotak Tech found a place at the bottom of the category with a return of 1.80 per cent.

FMCG funds gained 1.31 per cent and underperformed the benchmark BSE FMCG Index, which added 1.51 per cent over the week.

Equity oriented hybrid funds did well as well. The category funds, who generally maintain nearly 60 per cent exposure to equities, gained an average 2.61 per cent.

Cantriple+, Kotak Balanced and Escorts Balanced were the top three gainers of the week--the three funds added over 4 per cent each. Magnum Growth delivered negative return this week as well-the fund lost 0.36 per cent.

Bond Funds
All bond funds categories delivered positive returns for the second straight week. Income and debt short-term funds gained 0.13 per cent each, while cash and gilt short-term funds added 0.09 per cent. Gilt medium and long-term funds (0.14), floaters (0.10 per cent) and MIPs (0.65 per cent) too delivered positive returns.



How They Fared
Objective  Return
Equity: Tax Planning 4.48
Equity: Diversified 4.14
Equity: Pharma 0.19
Equity: Auto 3.63
Equity: Banking 1.87
Hybrid: Equity-oriented 2.61
Equity: FMCG 1.31
Equity: Technology 2.48
Hybrid: Monthly Income 0.65
Equity: Petroleum 5.65
Debt: Medium-term 0.13
Debt: Short-term 0.13
Debt: Floating Rate 0.10
Debt: Ultra Short-term 0.09
Gilt: Short-term 0.09
Gilt: Medium & Long-term 0.14
BSE Sensex 3.10
BSE IT Index 2.09
BSE Healthcare Index 0.20
BSE FMCG Index 1.51