With the BSE Sensex touching 9,000 last week, equity funds also surged ahead. This week all equity fund categories, except for technology funds, outperformed their respective benchmarks handsomely.
EQUITY FUNDS
Leaders: Pharma funds led the pack with 3.14 per cent return, outperforming the BSE Healthcare Index by 0.43 per cent. Magnum Pharma tops the category with 4.84 per cent return during the week.
Though the 7-fund category of technology funds underperformed the BSE IT Index, two of them were able to give better returns than the benchmark: Franklin Infotech (2.33 per cent) and DSPML Technology (2.11 per cent).
Diversified equity funds could outperform the Sensex after a gap of four weeks. The diversified equity funds and tax planning funds gave a return of 2.54 and 2.15 per cent, respectively.
The top five diversified equity funds include Taurus Starshare (5.27 per cent), Bonanza Exclusive Growth (4.64 per cent), Kotak Mid-Cap (4.64 per cent), Kotak MNC (4.43 per cent) and Tata Infrastructure (4.28 per cent).
The top performing tax-planning funds during the week were: Principal Personal Tax Saver (4.03 per cent), Birla Equity Plan (3.82 per cent), Principal Tax Savings (3.64 per cent), Magnum Taxgain (3.54 per cent) and ING Vysya Tax Savings (3.52 per cent).
Laggards: Banking and FMCG Funds languished at the bottom, though they returned more than their benchmarks. Banking Funds moved up by a meagre 0.31 per cent, against a 0.26 per cent jump in BSE Bankex, while FMCG Funds rose by 0.90 per cent against a 0.48 per cent return by BSE FMCG Index.
Equity-oriented hybrid funds were up 1.87 per cent by the end of the week, while debt-oriented hybrid funds rose up by 0.80 per cent.
DEBT FUNDS
Though all the debt categories gave positive returns but the medium-term & long-term debt and gilt funds continued to dish out uninspiring returns.
But with the equity markets on an upswing, the monthly income plans returned a handsome 0.40 per cent.
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