It was a tough week for both equity and debt funds. While the 30-stock BSE Sensex slipped 1.90 per cent, yield on the benchmark 2015, 7.38 per cent bond crossed 7 per cent mark and ended the week up 34 basis points. Barring FMCG and petro funds, all equity funds' categories lost.
EQUITY FUNDS
The leader: The two-member petro funds' category was the top gainer of the week--they added 0.93 per cent. While UTI Petro gained 1.53 per cent, JM Basic ended the week up 0.28 per cent.
FMCG funds also delivered positive returns. The category gained 0.60 per cent but fell short of the 1.47 per cent surge of the benchmark BSE FMCG Index. Prudential ICICI FMCG, though, beat the benchmark--the fund added 1.92 per cent. Franklin FMCG lost 0.40 per cent over the week.
The laggard: Banking funds continued their underperformance. They shed 2.42 per cent over the week as against the 1.91 per cent loss of the benchmark BSE Bankex.
Diversified and tax-planning funds: Diversified equity funds lost 0.90 per cent, while tax-planning funds ended the week down 0.83 per cent. Both beat the 1.90 per cent loss of their benchmark Sensex.
Top-5 diversified funds: BoB Growth (5.11 per cent), Alliance Buy India (2.47 per cent), Franklin India Prima (1.30 per cent), Sundaram Select Midcap (1.05 per cent), and Kotak Opportunities (0.96 per cent).
Bottom-5 diversified funds: Principal Focussed Advantage (-2.74 per cent), LICMF Growth (-2.57 per cent), LICMF Opportunities (-2.45 per cent), Sundaram Select Focus (-2.38 per cent), and Principal Growth (-2.28 per cent).
Top-5 tax-planning funds: BoB ELSS '96 (1.80 per cent), HDFC Long Term Advantage (1.46 per cent), Libra Taxshield '96 (0.56 per cent), Alliance Capital Tax Relief '96 (-0.11 per cent), and HDFC Taxsaver (-0.45 per cent).
Bottom-5 tax-planning funds: LICMF Tax Plan (-2.43 per cent), Principal Personal Tax Saver Fund (-2.40 per cent), Principal Tax Savings (-2.09 per cent), Escorts Tax Plan (-1.96 per cent), and Franklin India Index Tax (-1.77 per cent).
Pharma and technology funds, though lost over the week, beat their respective benchmarks. While pharma funds shed 0.45 per cent as against 1.93 per cent loss of the benchmark BSE Healthcare Index, tech fund ended the week down 2.13 per cent, less than the 3.66 per cent loss of the BSE IT Index.
Equity-oriented hybrid funds, which normally maintain a 60:40 equity, debt ratio ended the week down 0.66 per cent.
BOND FUNDS
MIPs, which maintain a small exposure to equities, lost 0.10 per cent in the week ended April 8, 2005.
Debt medium-term and gilt medium and long-term funds too lost 0.05 and 0.43 per cent, respectively. Floaters (0.10 per cent), debt short-term (0.09 per cent), cash funds (0.09 per cent) and gilt short-term funds (0.06 per cent) delivered positive returns.
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