A firm equity market helped funds deliver positive returns in the week ended May 13, 2005. The pack of gainers was lead by auto funds, closely followed by FMCG and tax-planning funds. All bond funds' categories too ended in the positive territory.
EQUITY FUNDS
The Leaders: The two member auto funds category gained the most last week--they added 3.55 per cent, beating the 1.61 per cent gain of the benchmark BSE Auto Index. While UTI auto sector fund gained 4.11 per cent, JM Auto Sector added 3 per cent.
The Laggards: Though all the equity funds' categories posted positive returns last week, banking funds gained the least. The category average return of 0.20 per cent was much lower than the 1.43 per cent gain of the benchmark BSE Bankex.
Diversified and tax-planning funds: Diversified equity funds gained 1.57 per cent, while tax-planning funds ended the week up an average 2.41 per cent. Both outperformed the 0.99 per cent gain of the benchmark Sensex.
Top-5 diversified funds: Taurus Discovery Stock (5.33 per cent), BoB Growth (4.47 per cent), Sundaram SMILE (4.16 per cent), Alliance Buy India (4.03 per cent),Tata Equity PE (3.95 per cent ).
Bottom-5 diversified funds: Chola Opportunities (-0.13 per cent), UTI Large Cap (0.26 per cent), LICMF Opportunities (0.28 per cent), Principal Focussed Advantage (0.32 per cent), Prudential ICICI Power (0.33 per cent).
Top-5 tax-planning funds: Libra Taxshield '96 (7.98 per cent), HDFC Taxsaver (4.62 per cent), Magnum Taxgain (3.59 per cent), Prudential ICICI Tax Plan (3.49 per cent), ING Vysya Tax Savings (3.01 per cent).
Bottom-5 tax-planning funds: LICMF Tax Plan (0.60 per cent), Franklin India Index Tax (0.64 per cent), UTI Equity Tax Savings (0.65 per cent), Sahara Tax Gain (0.84 per cent), Principal Personal Tax Saver (0.89 per cent).
The FMCG funds gained 2.87 per cent, outperforming the 0.93 per cent gain on the benchmark BSE FMCG index. The pharma funds gained 2.15 per cent. The technology funds gained 1.27 per cent.
Equity oriented hybrid funds, which normally maintain 60:40 equity, debt ratio, added 0.96 per cent last week.
BOND FUNDS
All the bond funds' categories posted positive returns last week. Medium-term funds gained 0.18 per cent, while gilt medium & long-term category added 0.32 per cent. Debt short-term (0.12 per cent), floaters (0.10 per cent), ultra short-term (0.09 per cent) and short-term gilt (0.11 per cent) funds too delivered positive returns. MIPs added 0.27 per cent.
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