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Sectoral funds – Weekly roundup

Jan 20, 2001

The week saw both the major market indices on the rise. BSE Sensex appreciated by 3.6% to close at 4,194 points, while the S&P CNX Nifty mirrored its performance climbing 3.4% to close at 1,331 points.

Open-ended, IT Schemes NAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
Inception
K P Infotech (Gr)23.76.1%-2.9%-35.9%94.6%
Magnum Sector Funds-IT12.05.7%-6.8%-45.4%53.3%
K P Internet Opport.(Gr)6.75.7%-0.7%0.0%-30.1%
Chola Freedom Tech (Cum)12.65.2%-3.9%-31.3%7.3%
Tata IT Sector Fund8.74.9%-6.0%-37.9%13.4%
Pru ICICI Tech. (Gr)5.04.6%-3.8%0.0%-48.9%
Alliance New Millenn (Gr)7.54.5%-4.5%0.0%-51.3%
K Tech5.84.3%-6.8%0.0%-26.0%
IL&FS eCOM Fund (Gr)5.04.2%-5.7%0.0%-63.5%
Birla IT Fund (Gr)13.23.9%-8.1%-48.4%6.0%
UTI Sector- Software14.03.6%-5.9%-25.0%19.8%
Sun F&C Emerg Tech (Gr)5.83.0%-7.3%0.0%-32.8%
DSP ML Tech.com (Gr)6.62.8%-7.5%0.0%-23.0%
*CAGR=Compounded Annual Growth Rate

Information technology (IT) funds were regained some lost ground during the week. Some funds surged by as high as 5% as IT stocks climbed significantly. Infosys, Satyam and NIIT were in the limelight. A lot of funds that had dumped IT stocks last year are re-entering these stocks at lower levels to exploit value opportunities.

Open-ended, FMCG Schemes NAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
Inception
Pru ICICI FMCG (Gr)10.1-0.2%-0.9%-22.6%-1.0%
Magnum Sector Funds-FMCG8.4-0.7%-1.4%-40.4%-10.0%
K P FMCG (Gr) 11.8-1.5%-3.6%-24.1%11.5%
*CAGR=Compounded Annual Growth Rate

FMCG funds (fast-moving-consumer-goods) were a victim of lukewarm buying activity in FMCG counters. Fund managers have increased their FMCG allocations significantly in anticipation that the sector will turnaround this year. It remains to be seen how accurate this assessment turns out to be. For the time being, FMCG stocks continue to languish as they have been for most of last year.

Open-ended, Pharma Schemes NAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
Inception
Magnum Sector Funds-Pharma9.8-0.8%-1.4%-31.4%-1.6%
K P Pharma (Gr)9.7-2.0%-3.4%-33.9%2.0%
UTI Sector-Pharma10.2-3.8%-6.2%-24.5%-9.1%
*CAGR=Compounded Annual Growth Rate

Pharma funds bore the brunt of a decline in frontline pharma stocks – Pharma and Novartis. Only Sun Pharma witnessed growth worth any mention. Disappointing results by Ranbaxy and Novartis highlighted the gloom surrounding this sector. Pharma stocks were also sidelined due to increased buying activity in IT counters. A lot of fund managers believe that bio-tech will be the next market mover after IT. To that effect they have placed their bets on the pharma sector.

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