Equity funds saw another depressing week. Stock prices crashed in the week ended October 28, 2005, so did the funds' returns. Not even a single diversified equity fund delivered positive return. However, all equity categories managed to outperform their respective benchmarks. No marked improvement was seen on the debt side last week as well.
EQUITY FUNDS
The Leader: It was a tough week for FMCG stocks. However, FMCG funds lost the least among all equity funds' categories. The three-member category dipped 3.05 per cent to outperform the 5.25 per cent loss of benchmark BSE FMCG index.
The Laggards: Technology funds lost the most last week. The seven-fund category skidded 4.69 per cent but managed to marginally outperform the 4.99 per cent loss of benchmark BSE IT index. Birla Sun Life New Millennium (-5.73 per cent) and Franklin Infotech (-5.28 per cent) lost the most among the seven tech funds.
Diversified equity and ELSS funds too fell, but the loss was much lower than the loss of Sensex. The two categories shed 3.61 and 3.56 per cent, respectively, as against the 4.75 per cent fall in the Sensex.
Top-5 diversified equity funds: Reliance Regular Savings Equity (-0.01 per cent), Sundaram CAPEX Opportunities (-0.50 per cent), Kotak MNC (-0.71 per cent), UTI MNC (-0.87 per cent), and Birla MNC (-1.38 per cent).
Bottom-5 diversified equity funds: Taurus Discovery Stock (-7.28 per cent), UTI India Advantage Equity (-6.33 per cent), Bonanza Exclusive Growth (-5.70 per cent), UTI PSU (-5.48 per cent), and BOB Diversified (-5.36 per cent).
Top-5 tax-planning funds: Sundaram Taxsaver (-1.88 per cent), Birla Equity Plan (-2.18 per cent), HDFC Long Term Advantage (-2.29 per cent), ING Vysya Tax Savings (-2.39 per cent), and Escorts Tax Plan (-2.40 per cent).
Bottom-5 tax-planning funds: BoB ELSS '96 (-5.30 per cent), Franklin India Index Tax (-5.20 per cent), Sahara Tax Gain (-4.92 per cent), LICMF Tax Plan (-4.57 per cent), and Libra Taxshield '96 (-4.52 per cent).
Among rest of the equity categories, banking funds lost 4.51 per cent but outperformed the 5.36 per cent loss of the BSE Bankex. The five-member pharma funds category slipped 3.58 per cent, less than 5.15 per cent loss of BSE Healthcare index.
Equity oriented hybrid funds, which normally maintain 60:40 equity, debt ratio, lost 2.34 per cent last week.
BOND FUNDS
Medium-term debt funds gained a marginal 0.11 per cent, while medium and long-term gilt funds gained an average 0.19 per cent. Debt short-term (0.10 per cent), ultra short-term (0.10 per cent) and short-term gilt (0.10 per cent) funds delivered positive returns. MIPs shed an average 0.53 per cent.
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