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Stars shine for UTI again

UTI Mutual Fund has retained its numero uno position for having the maximum number of 5-star funds for the second consecutive month.

UTI Mutual Fund has retained its numero uno position for having the maximum number of 5-star funds for the second consecutive month. It has as many as eight funds in the 5-star category as on July 31, 2006.It is followed by Canbank, HDFC, Pru ICICI and Reliance, each one of them having four funds in the 5-star category. Birla Sunlife has ten four-star funds. Two public sector AMCs had maximum number of 1-star funds (four).


Fund Family: How They Stack Up
AMC Name  1  2  3  4  5
ABN AMRO - 2 1 1 -
Benchmark - 1 1 1 -
Birla Sunlife 2 4 17 10 2
BoB 2 3 2 - 1
Canbank 2 2 4 1 4
Cholamandalam 1 4 3 1 -
Deutsche - 4 3 1 -
DSP ML - 1 4 5 2
Escorts - 2 4 - -
Franklin Templeton 2 6 15 5 1
HDFC 2 8 6 9 4
HSBC 1 1 5 2 -
ING Vysya 2 5 5 - -
J M 2 2 6 1 2
Kotak Mahindra - 1 7 6 2
LIC 4 3 4 3 2
Principal 1 2 10 8 -
Prudential ICICI 2 4 7 8 4
Reliance - 3 4 2 4
Sahara - 4 1 1 -
SBI 4 8 5 2 2
Standard Chartered 1 4 4 3 -
Sundaram 3 1 4 2 1
Tata 3 2 11 6 2
Taurus 3 2 - 1 -
UTI Mutual Fund 2 8 8 7 8
Data as on July 31, 2006

There were 394 rated funds as on July 31, 2006. UTI Sunder was a new entrant to the family of rated funds. There were 25 upgrades, 27 downgrades while the rating of 341 funds remained unchanged.

One of the notable upgrade was UTI Liquid Cash Regular, which moved up by two stars. The fund was able to regain its 4-star status after a gap of seven months. Though the fund has not shown any significant rise in returns, it has reduced its risk score by 1.13 per cent.

This month, two funds -- Magnum Balanced and UTI Gilt Advantage Provident-- have moved up to the elite group of 5-star funds for the second time. The former has a rated history of around seven years. Earlier it had attained the top rating in May this year before slipping a notch down in June. UTI Gilt Advantage Provident was rated for the first time in April 2005. The only time it attained a 5-star rating was in February 2006.

The following six funds slipped to 1-star rating: Cangrowth Plus, HDFC Income, Reliance Liquid Cash, Taurus Bonanza Exclusive, Tata GSF and Templeton MIP-DM.