Fund investors must have cherished the week ended May 27, 2005. Riding on the back of strong gains in the stock markets, all the equity funds categories posted positive returns. The pack of gainers was lead by index funds.
Debt funds too gained during the week. A low domestic inflation cheered the bond markets and helped debt funds post positive returns.
EQUITY FUNDS
The Leaders: The five-member index fund category gained 3.61 per cent during the week. The index funds outperformed the BSE Sensex that gained 3.20 per cent. Among the index funds, Tata Index Nifty A lead the tally with a return of 4.78 per cent.
The Laggards: Among the equity funds, the two-member auto funds' category gained 1.20 per cent but was at the bottom of the tally. The JM Auto Sector gained 1.33 per cent, while the UTI Auto Sector added 1.07 per cent.
Diversified and tax-planning funds: Diversified equity and tax-planning funds ended the week up an average 1.98 per cent.
Top-5 diversified equity funds: Alliance Buy (5.39 per cent), ING Vysya Nifty Plus (4.11 per cent), UTI Services Sector (3.81 per cent), ING Vysya Equity (3.73 per cent), and Alliance Equity (3.55 per cent).
Bottom-5 diversified equity funds: Taurus Discovery (-1.33 per cent), Escorts Growth (-0.39 per cent), Canexpo (0.09 per cent), Canemerging Equities (0.10 per cent), and GIC Fortune '94 (0.25 per cent).
Top-5 tax-planning funds: Franklin India Index Tax (4.18 per cent), BoB ELSS '96 (3.45 per cent), Principal Personal Tax Saver (3.33 per cent), Libra Taxshield '96 (3.12 per cent), and ING Vysya Tax Savings (2.96 per cent).
Bottom-5 tax-planning funds: Canequity-Tax Saver (-0.07 per cent), Escorts Tax Plan (0.21 per cent), HDFC Long Term Advantage (0.71 per cent), Sundaram Taxsaver (0.92 per cent), and Tata Tax Saving (1.31 per cent).
Among other categories, pharma funds gained 3.47 per cent, thus underperforming the BSE Healthcare Index that gained 5.69 per cent. Technology funds gained 3.38 per cent, followed by FMCG funds with 2.03 per cent return.
Equity oriented hybrid funds, which normally maintain 60:40 equity, debt ratio, added 1.43 per cent last week.
BOND FUNDS
All the bond funds' categories posted positive returns last week. Medium-term debt funds gained 0.11 per cent, while gilt medium & long-term category added 0.07 per cent. Debt short-term (0.10 per cent), floaters (0.10 per cent), ultra short-term (0.10 per cent) and short-term gilt (0.08 per cent) funds too delivered positive returns. MIPs added 0.45 per cent.
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