Last week's equity markets collapse has pushed all the equity funds categories into the negative zone. A marginal recovery in the bond market helped debt funds deliver positive returns.
EQUITY FUNDS
The Leader: Though all the categories lost, FMCG funds lost less than others. The three-member category ended the week down 1.40 per cent to underperform the negative 0.78 per cent return of the benchmark BSE FMCG Index.
The Laggard: Tech funds were the worst hit in the last week's retreat--the seven-fund category skidded a whopping 5.04 per cent. However, the category did well to lose less than the 7.06 per cent loss of the benchmark BSE IT Index. All the tech funds managed to beat the benchmark. Franklin Infotech (-6.12 per cent) and Kotak Tech (-6.07 per cent) lost the most.
Banking funds continued their underperformance. They shed 2.48 per cent this time as against the 2.21 per cent loss of the benchmark BSE Bankex.
Diversified and tax-planning funds: Diversified equity funds lost 2.20 per cent, while tax-planning funds ended the week down 2.17 per cent. Both beat the 3.57 per cent loss of their benchmark Sensex.
Top-5 diversified funds: Kotak MNC (1.66 per cent), UTI MNC (0.23 per cent), Kotak Opportunities (-0.29 per cent), Birla MNC (-0.46 per cent), and Kotak Mid-Cap (-0.51 per cent).
Bottom-5 diversified funds: Taurus Discovery Stock (-5.74 per cent), Chola Opportunities (-4.61 per cent), ING Vysya Nifty Plus (-3.76 per cent), UTI Services Sector (-3.67 per cent), and ING Vysya Equity (-3.58 per cent).
Top-5 tax-planning funds: Magnum Taxgain (0.69 per cent), Alliance Capital Tax Relief '96 (-1.13 per cent), HDFC Long Term Advantage (-1.19 per cent), Tata Tax Saving (-1.31 per cent), and Birla Equity Plan (-1.46 per cent).
Bottom-5 tax-planning funds: Libra Taxshield '96 (-4.15 per cent), Franklin India Index Tax (-3.70 per cent), Principal Personal Tax Saver Fund (-3.26 per cent), Franklin India Taxshield (-2.94 per cent), and Principal Tax Savings (-2.94 per cent).
Pharma funds lost 2 per cent to outperform the negative 2.64 per cent return of the benchmark BSE Healthcare Index. Petro and auto funds lost 2.62 and 1.92 per cent, respectively.
Equity-oriented hybrid funds, which normally maintain a 60:40 equity, debt ratio ended the week down 1.42 per cent.
BOND FUNDS
MIPs, which maintain a small exposure to equities, lost 0.28 per cent in the week ended April 15, 2005.
Debt medium-term gained 0.11 per cent, while short term debt funds and floaters added 0.12 and 0.10 per cent, respectively.
Gilt medium and long-term, cash funds and gilt short-term funds delivered 0.09 per cent return each.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
