Mutual Fund Rankings June 2001 - Views on News from Equitymaster

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Mutual Fund Rankings June 2001

Jun 18, 2001

Our rankings for the month of June 2001 have thrown up results similar to May 2001 rankings. Growth funds continue to be in the doldrums, with income funds showing the resilience and reliability which they have been associated with over the years. Growth funds reflect the mood prevalent in equity markets, which has been very negative. With equity markets still showing weakness, fund managers had a testing time trying to keep their heads (and their funds) above water. This month too, Grandmaster 1993, BOINANZA and Templeton Growth were in the lead in the Open-ended Growth category.

Income funds have made the proverbial hay as growth funds get the boot from investors. With interest rates expected to remain at this level if not lower, bond yields are lower and income fund managers are having an easier time as compared to their growth fund counterparts. PNB Debt Fund, KP Children Asset and K Bond Wholesale are the leaders in this category.

OPEN-ENDED, GROWTH FUNDS NAV(Rs) 12-MONTHS
GRANDMASTER 1993 8.5 -6.3%
BOINANZA EXCLUSIVE (G) 7.1 -9.4%
TEMPLETON GROWTH G 11.7 -11.4%
GIC D'MAT 7.6 -12.4%
KP BLUECHIP G 20.7 -14.9%
KP PRIMA PLUS G 20.1 -17.1%
TATA PURE EQ 10.4 -17.7%
ZURICH EQUITY G 17.4 -18.7%
KP PRIMA G 18.7 -19.8%
K MNC 8.2 -20.2%
OPEN-ENDED, INCOME FUNDS NAV(Rs) 12-MONTHS
PNB DEBT FUND G 13.5 15.9%
KP CHILD ASSET 14.4 14.4%
K BOND WHOLESALE G 12.3 14.0%
KP INC BUILD G 16.7 13.7%
TEMPLETON INC G 17.3 13.4%
LIC BOND G 13.2 13.4%
DSP ML BOND G 16.5 13.3%
PRU ICICI INC G 14.4 13.2%
K BOND-DEP G 12.2 13.1%
SUNDARAM BOND A 15.6 13.1%

Even balanced funds have not been spared the ignominy as their equity components have taken a hit. Funds are now increasing their fixed income allocations to as a hedge against volatility in equity markets.

Tax-saving funds (ELSS) have also been a victim of the depression in equity markets. investors who are looking for benefits under section 88 (rebate) need to examine the systematic investment plan (SIP) route and accumulate at lower levels.

OPEN-ENDED, BALANCED FUNDS NAV(Rs) 12-MONTHS
CANPREMIUM 12.5 17.9%
JM BALANCED G 13.6 14.2%
KP PENSION G 16.9 5.7%
DHANARAKSHA 89 10.5 4.6%
TATA YOUNG CITI 10.0 -11.4%
DHANASAHAYOG C G 16.1 -12.4%
ZURICH PRUDENCE G 17.7 -12.9%
PRU ICICI BAL G 8.8 -13.8%
KP BAL G 8.0 -14.0%
CANTRIPLE 17.3 -15.8%
OPEN-ENDED, ELSS FUNDS NAV(Rs) 12-MONTHS
UTI EQUITY TAX SAVINGS 9.1 -16.8%
PRU ICICI TAX G 10.5 -24.5%
KP TAX G 22.5 -24.5%
SUNDARAM TAX 7.9 -24.7%
IDBI-PRI TAX I NIT 96 11.7 -28.1%
DUNDEE TAX APP 7.3 -28.3%
ALLIANCE TAX 96 46.9 -34.8%
TATA TAX SAV 10.0 -36.1%
CANPEP 93 11.3 -42.4%
BIRLA EQUITY PLAN 11.4 -49.8%

Gilt funds are the stars in this market. While stocks may be depressed, prices of government securities (gilts) are firming up on expectations of yet another rate cut by the Reserve Bank of India (RBI).

OPEN-ENDED, GILT FUNDS NAV(Rs) 12-MONTHS
JM GSEC PFP G 13.4 20.0%
JM GSEC RP G 13.2 19.4%
TEMPLETON GSEC G 13.8 19.1%
CANGILT 1464083.5 18.9%
BIRLA GILT LT G 13.0 18.5%
DSP ML GSEC A G 13.1 18.4%
PRU ICICI GILT IG 13.0 17.0%
DUNDEE SOV G 13.2 16.7%
BIRLA GILT INV G 12.5 16.3%
TATA GSEC B APP 13.2 16.3%

Visitors need to note that the rankings have been undertaken to unravel the selection process. Our advise to mutual fund investors is to look at these rankings objectively. We have several other tools that investors may want to look at while assessing fund performance. Investors who would like to rank fund performance over different time frames – 3-month, 6-month, 3-years, etc. can browse through our interactive query section

Investors who would like to assess fund management skills of the fund house can browse through Face to Face

For a detailed analysis on mutual funds, visitors can see Fund Focus

We are hopeful that these tools will leave the mutual fund investor more informed with adequate ‘power’ to make the right investment decision.

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