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Growth funds – Weekly roundup - Views on News from Equitymaster
 
 
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  • Jul 1, 2000

    Growth funds – Weekly roundup

    The last week (Mon-Fri) saw the BSE Sensex sliding 1.67% to close at 4,748 points. This impacted the net asset values (NAVs) of growth funds adversely.

    Open-ended, Growth Schemes NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    Alliance Equity Fund (Div) 32.02 -3.40% 22.40% 150.40% 113.70%
    Birla MNC Fund (Gr) 32.83 0.30% 9.30% 120.30% 23.20%
    Birla Advantage Fund 45.14 -2.40% 17.80% 119.80% 39.40%
    Libra Leap 21.41 -5.30% 15.40% 110.70% 37.50%
    GIC Growth Plus II 19.22 -2.60% 6.30% 109.60% 12.60%
    ING Growth (Gr) 19.74 -3.50% 29.70% 96.00% 85.40%
    K P Bluechip (Gr) 24.89 -1.20% 10.60% 81.30% 32.30%
    Tata Pure Equity 14.84 -1.00% 23.30% 78.80% 61.10%
    Pru ICICI Growth (Gr) 24.64 -4.20% 16.80% 75.10% 56.30%
    Magnum Equity Fund 16.26 -4.90% 18.20% 74.70% 17.40%
    Pru ICICI Growth(Div) 14.37 -4.30% 16.70% 73.70% 55.70%
    Canexpo 20.43 -1.70% 19.40% 71.00% 14.50%
    K P Prima Plus (Gr) 24.43 -2.30% 10.30% 71.00% 19.00%
    Zurich(I) Equity (Gr) 21.95 -0.40% 13.00% 67.70% 16.60%
    Templeton Growth Fund 13.52 -1.00% 8.20% 63.90% 11.50%
    K 30 20.57 -1.60% 13.30% 61.10% 57.20%
    Magnum Multiplier Plus 1993 22.16 -4.30% 21.80% 60.20% 13.30%

    (The above table only reflects funds that posted over 50% returns over 1 year)

    All growth funds in our sample (of 17 funds) were in the negative over the last week with only Birla MNC posting 0.30% growth. Only 4 funds witnessed over 20% growth over the last month. With the markets going nowhere, it is unlikely that growth funds will do much better next week.

    Open-ended, IT Schemes NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    IL&FS eCOM Fund (Gr) 7.64 -4.50% 32.60% 0.00% -43.90%
    Magnum Sector Funds-IT 17.22 0.00% 30.00% 0.00% 141.30%
    Alliance New Millenn (Gr) 9.49 -5.60% 25.70% 0.00% -37.90%
    UTI Sector- Software 24.68 -6.30% 25.30% 0.00% 89.10%

    (The above sample only shows IT funds that have appreciated by more than 25% over the last week)

    No IT fund in our sample showed any growth over the last week. Two out of the four IT funds in the sample are still in the negative since inception. The sentiment in IT stocks continues to remain indifferent which has impacted IT fund NAVs.

    Open-ended, Pharma Schemes NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    K P Pharma (Gr) 10.13 -0.90% 3.40% 9.80% 7.10%
    Magnum Sector Funds-Pharma 9.98 0.00% 7.20% 0.00% -0.90%
    UTI Sector-Pharma 10.49 -0.90% 6.50% 0.00% -12.10%

    Performance of pharma funds was lackluster with none of the 3 funds in our sample showing growth over the last week. Their performance over the month and the year has been equally dismal.

    Open-ended, FMCG Schemes NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    K P FMCG (Gr) 11.97 1.30% 2.00% 13.10% 18.60%
    Magnum Sector Funds-FMCG 8.81 0.00% 4.00% 0.00% -14.60%
    Pru ICICI FMCG (Gr) 10.04 2.20% 3.30% -3.30% -2.20%

    FMCG funds’ NAVs were hauled up largely due to the surge in Hindustan Lever’s stock over the week (up 2.7%) before its stock split. Market men expect the stock to decline to its original level after the split (in 2d week of July).

     

     

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