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Growth Funds – Weekly roundup - Views on News from Equitymaster
 
 
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  • Jun 24, 2000

    Growth Funds – Weekly roundup

    The BSE Sensex fell 2.43% in the last week (Mon-Fri). However, to the credit of fund managers, this did not disturb them in the least, as growth and sectoral funds performed reasonably well despite the decline.

    Open-ended, Growth Schemes NAV (Rs) Last
    week
    Last
    month
    Last
    year
    Since
    inception
    JM Equity Fund (Gr) 12.60 7.50% 28.30% 15.20% 5.20%
    ING Growth (Gr) 20.46 6.80% 31.40% 106.30% 93.50%
    Grandmaster 1993 10.74 6.30% 30.80% -2.20% 0.00%
    GIC Growth Plus II 19.73 4.80% 16.10% 107.60% 13.10%
    Tata Pure Equity 14.98 4.60% 26.60% 85.60% 62.60%
    Canbonus 11.21 4.40% 23.60% 2.40% 3.80%
    DSP ML Opportunities (Gr) 10.55 4.10% 23.00% 0.00% 19.10%
    Pru ICICI Growth (Gr) 25.73 4.10% 27.40% 84.40% 60.60%
    Reliance Vision Fund 20.89 4.10% 15.70% 47.40% 16.70%
    Alliance Equity Fund (Gr) 41.80 4.10% 29.60% 156.10% 119.30%
    Magnum Global Fund 13.58 4.10% 24.90% 50.20% 8.20%
    Mastergrowth 1993 21.14 4.00% 37.00% 32.40% 12.00%
    Canexpo 20.78 4.00% 27.00% 75.30% 14.90%
    (The above list only includes diversified growth funds that have posted over 4% appreciation in the last week.)

    As is apparent from the table, diversified growth funds have given decent returns over the last week, with JM Equity (up 7.50%) at the head of the table. Of some significance is the performance of most growth funds over the last month. With the exception of two funds, all growth funds in the table gained at least 20% in the last month.

    Open-ended, IT Schemes NAV (Rs) Last
    week
    Last
    month
    Last
    year
    Since
    inception
    Magnum Sector Funds-IT 17.86 7.40% 16.60% 0.00% 150.30%
    UTI Sector- Software 26.35 7.40% 29.80% 0.00% 101.90%
    Tata IT Sector Fund 14.35 6.90% 30.40% 141.10% 31.60%
    Chola Freedom Tech (Cum) 18.14 5.90% 23.70% 36.20% 27.00%
    Pru ICICI Tech. (Gr) 6.84 5.10% 27.60% 0.00% -30.50%
    Sun F&C Emerg Tech (Gr) 7.77 5.00% 18.40% 0.00% -9.20%
    IL&FS eCOM Fund (Gr) 8.00 4.20% 38.60% 0.00% -41.30%
    Alliance New Millenn (Gr) 10.05 4.00% 34.50% 0.00% -34.30%
    DSP ML Tech.com (Gr) 10.25 4.00% 27.00% 0.00% 20.00%
    (The above list only includes IT funds that have posted over 4% appreciation in the last week.)

    The appreciation in the NAVs of IT funds has been significantly higher than diversified growth thanks to the run-up in software stocks. And like growth funds IT funds have appreciated in a big way over the last month, with only Magnum IT and Sun F&C Emerging Tech. failing to post at least 20% NAV escalation.

    Open-ended, Pharma Schemes NAV (Rs) Last
    week
    Last
    month
    Last
    year
    Since
    inception
    UTI Sector-Pharma 10.59 4.00% 18.60% 0.00% -11.20%
    K P Pharma (Gr) 10.22 2.70% 12.60% 8.40% 8.00%
    Magnum Sector Funds-Pharma 9.71 0.60% 9.50% 0.00% -3.60%

    Magnum Pharma has lagged the other two in its universe with only 0.60% appreciation in the last week. UTI Sector – Pharma has done well giving the highest growth, both over 1 week as well as 1 month.

    Open-ended, FMCG Schemes NAV (Rs) Last
    week
    Last
    month
    Last
    year
    Since
    inception
    K P FMCG (Gr) 11.82 2.10% 12.30% 11.90% 17.60%
    Pru ICICI FMCG (Gr) 9.82 1.30% 10.70% -4.80% -4.30%
    Magnum Sector Funds-FMCG 8.63 0.70% 2.60% 0.00% -16.40%

    Again like its pharma sibling, Magnum FMCG finds itself at the bottom of the table both over 1 week and 1 month. On the other hand, Kothari Pioneer FMCG leads in both these periods.

     

     

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