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Funds Recover

The stock markets consolidated further in the week ended June 23, 2006. All the equity funds delivered positive returns over the week

The stock markets consolidated further last week. The 30-stock BSE Sensex closed at 10,401 levels with gains of 5.23 per cent over the previous week. All the equity funds delivered positive returns.

Diversified Equity Funds
The category of diversified equity funds gained 6.05 per cent during the week.
The Top Five: Taurus Discovery Stock (13.59 per cent), Magnum Midcap (10.54 per cent), Franklin India Opp (9.86 per cent), Pru ICICI Discovery FII (9.51 per cent), and Pru ICICI Discovery (9.43 per cent).
The Bottom Five: Sundaram Rural India (1.93 per cent), DBS Chola Global Advantage (2.55 per cent), Pru ICICI Services Industries (3.09 per cent), FT India Life Stage FoF 20s (3.16 per cent), and UTI Contra (3.21 per cent).

Tax Planning Equity Funds
An average fund in the category gained 7.33 for the week ended June 23. Last week, tax planning equity funds had lost 0.78 per cent.
The Top Five: Libra Taxshield '96 (13.03 per cent), Pru ICICI Tax Plan (10.27 per cent), Principal Personal Tax Saver (10.23 per cent), Sundaram Taxsaver (9.08 per cent), and Kotak Tax Saver (8.70 per cent).
The Bottom Five: Fidelity Tax Advantage (4.68 per cent), DBS Chola Tax Saver (4.68 per cent), HDFC Long Term Advantage (4.94 per cent), Franklin India Taxshield (5.05 per cent), and Franklin India Index Tax (5.27 per cent).

Hybrid Equity Oriented
An average fund in the category gained 3.92 per cent over the week ending June 23 compared with 0.16 per cent loss in the previous week.
The Top Five: JM Balanced (6.69 per cent), Principal Child Benefit (5.96 per cent), HDFC Children's Gift Inv (5.53 per cent), Magnum Balanced (5.21 per cent), and Pru ICICI Child Care-Gift (4.94 per cent).
The Bottom Five: Birla Asset Allocation Moderate (2.59 per cent), Birla Balance (3.35 per cent), Birla Sun Life '95 (3 per cent), BoB Balance (3.59 per cent), and Canbalance II (2.46 per cent).

In the debt funds' category, medium-term debt funds lost 0.07 per cent. Debt short-term funds added 0.07 per cent, while debt ultra-short term funds gained 0.12 per cent during the period.