It was yet another rewarding week for mutual fund investors. The stock markets extended their previous week's gain, while a low inflation cheered the bond markets. Consequently, majority of equity and all bond funds' categories delivered positive returns last week.
EQUITY FUNDS
The Leaders: Pharma funds lead the pack of gainers. The five-fund category added 3.41 per cent to outperform the 2.72 per cent return of the benchmark BSE Healthcare Index. Barring Magnum Pharma, all the funds managed to beat the benchmark. JM Healthcare Sector and UTI Pharma & Healthcare gained over 4 per cent each.
The Laggards: Among the equity funds, only banking funds lost last week. The two-fund category slipped 0.16 per cent as against the 0.07 per cent loss of the benchmark BSE Bankex. While Reliance Banking lost 0.08 per cent, UTI Banking Sector fund shed 0.24 per cent.
Diversified and tax-planning funds: Diversified equity funds gained an average 0.57 per cent to marginally underperform the 0.61 per cent return of benchmark Sensex. Tax-planning funds ended the week up 0.82 per cent.
Top-5 diversified equity funds: UTI India Advantage Equity Fund (3.53 per cent), Franklin India Opportunities (2.99 per cent), Tata Life Sciences & Tech (2.55 per cent), Escorts Growth (2.29 per cent), and Alliance Buy India (2.24 per cent).
Bottom-5 diversified equity funds: Kotak Mid-Cap (-0.90 per cent), HDFC Capital Builder (-0.54 per cent), UTI Basic Industries (-0.54 per cent), LICMF Equity (-0.47 per cent), and Templeton India Growth (-0.27 per cent).
Top-5 tax-planning funds: BoB ELSS '96 (1.67 per cent), ING Vysya Tax Savings (1.44 per cent), Magnum Taxgain (1.41 per cent), Tata Tax Saving (1.28 per cent), and HDFC Long Term Advantage (1.16 per cent).
Bottom-5 tax-planning funds: Canequity-Tax Saver (0.00 per cent), HDFC Taxsaver (0.17 per cent), Principal Personal Tax Saver (0.19 per cent), Franklin India Taxshield (0.30 per cent), and Principal Tax Savings (0.37 per cent).
Among other categories, technology and FMCG funds gained 0.87 and 1.50 per cent to underperform the 1.04 and 2.88 per cent gain of their benchmarks BSE IT and BSE FMCG Index, respectively.
Equity oriented hybrid funds, which normally maintain 60:40 equity, debt ratio, added 0.41 per cent last week.
BOND FUNDS
All the bond funds' categories posted positive returns last week. Medium-term debt funds gained 0.18 per cent, while gilt medium & long-term category added 0.28 per cent. Debt short-term (0.11 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 0.19 per cent.
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