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Missing in Action

As the markets oscillated in the week ended April 28, mutual funds too put up a lacklustre show. Diversified equity funds gained only 0.03 per cent

As the markets oscillated in the week ended April 28, mutual funds too put up a lacklustre show. After volatile trades, the BSE Sensex dipped 178 points, or 1.48 per cent, to end the week that saw SEBI crackdown on 24 market players and strong HLL and Reliance results.

Diversified Equity Funds
The category of diversified equity funds gained only 0.03 per cent in the week ended April 28. Reliance Regular Savings Equity clocked in the highest gain of 4.74 per cent. Chola Opportunities was the laggard in the category with a return of -2.94 per cent.
The Top Five
Reliance Regular Savings Equity 4.74 per cent; HSBC India Opportunities 3.24 per cent; HDFC Capital Builder 2.87 per cent followed by Taurus Starshare 2.80 per cent and Prudential ICICI Emerging STAR FII 2.78 per cent
The Bottom Five
Chola Opportunities 2.94 per cent; UTI Contra 2.58 per cent; Chola Contra 2.02 per cent; Birla Advantage 1.81 per cent; Principal Growth 1.75 per cent

Tax Planning Equity Funds
The tax planning equity funds' space too ended the week flat with a return of 0.69 per cent, way below a gain of 4.69 per cent registered during the week ended April 21.
The Top Five
ABN AMRO Tax Advantage Plan 4.06 per cent; Libra Taxshield '96 2.91 per cent; Kotak Tax Saver 2.14 per cent; Escorts Tax Plan 2.06 per cent; ING Vysya Tax Savings 1.97 per cent.
The Bottom Five
Chola Tax Saver 1.98 per cent; UTI Equity Tax Savings 1.89 per cent; Franklin India Index Tax 1.77 per cent; Franklin India Taxshield 1.46 per cent; BoB ELSS '96 0.81 per cent.

FMCG Funds
The FMCG funds' category stole the show in the week ended April 28. With the FMCG behemoth HLL declaring an increase of 76.96 per cent in net profit for the quarter ended March 2006, the category mustered a return of 2.04 - the best among all the categories. BSE FMCG Index generated a gain of 1.61 per cent during the week. Magnum FMCG registered a gain of 3.35 per cent followed by Franklin FMCG with 1.78 per cent.

Technology Funds
Technology funds failed to maintain the momentum this week with a return of -0.78 per cent. The category generated the best return of 6.96 per cent during the week ended April 21. Only two funds - Prudential ICICI Technology (2.84 per cent) & Birla Sun Life New Millennium (0.70 per cent) - generated positive return.

Banking Funds
The banking funds were the worst performers in the week. The category lost 2.42 per cent in the week. The BSE Bankex lost around 3 per cent in the same period.
Both the funds in the category recorded negative returns. Reliance Banking 2.36 per cent; UTI Banking Sector 2.48 per cent.

Equity-Oriented Hybrid Funds
The category of equity-oriented hybrid funds ended the week on a flat note with a zero per cent return.
The Top Five
Prudential ICICI ChildCare-Gift 2.35 per cent; Kotak Balance 1.90 per cent; JM Balanced 1.80 per cent; Birla Sun Life'95 1.47per cent; Magnum Balanced 0.73 per cent.
The Bottom Five
BoB Balance 1.59 per cent; HDFC Children's Gift-Inv 1.36 per cent; Birla Balance 1.06 per cent; Templeton India CAP Gift Plan 0.99 per cent; Birla Asset Allocation Moderate 0.92 per cent.

Debt-Oriented Hybrid Funds
The category of debt-oriented hybrid funds managed to generate a return of 0.29 per cent during the week. Among all fund groups, only three equity fund categories - FMCG, Other Speciality and Tax Planning - gave better returns than this group.