VR Logo

Red & Black

Indian stocks were in recovery mode in the week ended June 16. Equity funds, though, continued their poor show with an average diversified equity funds ending the week in the red

Indian stocks were in recovery mode in the week ended June 16. The Sensex gained close to 1,000 points in just two trading sessions i.e. on June 15 and June 16 to end the week in the green. All other indices were also up during the week. Equity funds, though, continued their poor show with an average diversified equity funds ending the week in the red. Auto, pharma, technology and banking funds also recorded negative returns. FMCG funds gained 1.85 per cent.

Diversified Equity Funds
The category of diversified equity funds lost 0.42 per cent as compared to Sensex's gain of 0.75 per cent during the week.
The Top Five: UTI India Advantage Equity (2.54 per cent), Tata Select Equity (1.81 per cent), Quantum Long Term Equity (1.61 per cent), Birla Sun Life Buy India (1.60 per cent) and Canfortune (1.57 per cent).
The Bottom Five: DBS Chola Opportunities (-3.43 per cent), Sundaram Select Midcap (3.38 per cent), Sundaram CAPEX Opportunities-D (-2.66 per cent), Kotak Mid-Cap (-2.58 per cent) and Sundaram CAPEX Opportunities-G (-2.49 per cent).

Tax Planning Equity Funds
Tax-planning funds too ended the week in the red, losing 0.78 per cent.
The Top Five: Libra Taxshield '96 (1.80 per cent), Franklin India Index Tax (0.83 per cent), UTI Equity Tax Savings (0.81 per cent), Fidelity Tax Advantage (0.42 per cent) and DBS Chola Tax Saver (0.10 per cent).
The Bottom Five: Birla Sun Life Tax Relief '96 (-2.54 per cent), Sahara Tax Gain (-2.50 per cent), Sundaram Taxsaver (-2.35 per cent), ABN AMRO Tax Advantage Plan (-2.12 per cent) and ING Vysya Tax Savings (-2.03 per cent).

Hybrid Equity-Oriented
The hybrid equity-oriented funds too were in the red. The category lost 0.16 per cent during the week ended June 16.
The Top Five: BoB Balance (1.14 per cent), Principal Child Benefit (0.85 per cent), LICMF Balance (0.75 per cent), HDFC Children's Gift-Inv (0.73 per cent) and HDFC Prudence (0.53 per cent).
The Bottom Five: ING Vysya Balanced (-2.80 per cent), Prudential ICICI ChildCare-Gift (-1.28 per cent), JM Balanced (-1.07 per cent), Templeton India CAP Gift Plan (-0.89 per cent) and Sundaram Balanced (-0.81 per cent).
In the debt funds' category, medium-term debt funds generated returns of 0.08 per cent. Debt short-term funds added 0.12 per cent, while debt ultra-short term funds gained 0.11 per cent during the period. Gilt short-term funds ended the week with returns of 0.07 per cent, while gilt medium and long-term funds lost -0.01 per cent.