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Tech Funds on Top

As the Sensex registered a loss of 74.59 points, or 0.6 per cent, in the week ended May 12, equity mutual funds put up a mixed performance. Technology funds registered the highest gain

As the Sensex registered a loss of 74.59 points, or 0.6 per cent, in the week ended May 12, mutual funds put up a mixed performance. Among the equity funds' categories, technology funds registered the highest gain (1.03 per cent) followed by the banking funds' group with a gain of 0.86 per cent in the week that saw the Sensex settle at 12,285, after hitting a lifetime high of 12,671.11 on May 11.

Diversified Equity Funds
The category of diversified equity funds registered a negative growth (-0.34) in the week ended May 12 in which the Sensex lost 0.6 per cent.

The Top Five
Chola Opportunities 4.10 per cent; Sundaram Select Midcap 2.73 per cent; Magnum Global 2.71 per cent; Tata Midcap 2.11 per cent; Tata Service Industries 1.99 per cent.

The Bottom Five
Taurus Starshare -2.20 per cent; JM Emerging Leaders -1.91 per cent; Magnum Multiplier Plus -1.84 per cent; ABN AMRO Opportunities -1.67 per cent; DSPML Top 100 Equity -1.65 per cent.

Tax Planning Equity Funds
The category of tax planning funds too failed to beat the market to end the week down -0.08 per cent down. Principal Personal Tax Saver put up the best performance with a gain of 3.10 per cent.

The Top Five
Principal Personal Tax Saver 3.10 per cent; ING Vysya Tax Savings 1.29 per cent; DWS Tax Saving 1.15 per cent; Reliance Tax Saver 1.05 per cent; Prudential ICICI Tax Plan 0.71per cent.

The Bottom Five
Birla Sun Life Tax Relief '96 -1.68 per cent; Franklin India Taxshield -1.35 per cent; Birla Equity Plan -1.28 per cent; UTI Equity Tax Savings -1.13 per cent; Magnum Taxgain -1.08 per cent.

Technology Funds
The category of technology funds was the best performer among all groups with a return of 1.03 per cent in the week under review. The BSE IT index too gained 0.3 per cent during the week. Except for UTI Software and Franklin Infotech, all other funds in this group managed a positive return.

The Top Five
Prudential ICICI Technology 2.56 per cent; Magnum IT 1.74 per cent; Birla Sun Life New Millennium 1.69 per cent; DSPML Technology.com 0.75 per cent; Kotak Tech 0.70 per cent.

Equity Banking
The category of banking funds generated a gain of 0.86 per cent during the week ended May 12. Reliance Banking gained 1.17 per cent, while UTI Banking Sector reported a growth of 0.54 per cent.

Hybrid: Equity-Oriented Funds
The category lost 0.18 per cent during the week under review.

The Top Five
Principal Child Benefit 2.15 per cent; ING Vysya Balanced 1.44 per cent; Kotak Balance 0.99 per cent; Sundaram Balanced 0.78 per cent; Principal Balanced 0.76 per cent.

The Bottom Five
JM Balanced -1.59 per cent; UTI Balanced -1.38 per cent; HDFC Balanced -1.11 per cent; Magnum Balanced -0.86 per cent; Prudential ICICI ChildCare-Gift -0.80 per cent.