Sectoral Funds – Weekly roundup - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sectoral Funds – Weekly roundup

Jul 8, 2000

This week witnessed the BSE Sensex posting 3.3% appreciation. The last few weeks have seen a revival in old economy stocks with the new economy taking a backseat for a change. However, this does not prevent IT funds from outperforming the others.

Open-ended, IT FundsNAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
UTI Sector- Software25.604.30%12.30%0.00%96.20%
DSP ML Tech.com (Gr)10.094.20%7.20%0.00%18.10%
K P Internet Opport.(Gr)9.014.00%5.30%0.00%-5.90%
K P Infotech (Gr)32.333.60%9.10%218.20%180.30%
Magnum Sector Funds-IT17.713.00%9.20%0.00%148.20%
K Tech8.562.60%6.20%0.00%9.20%
IL&FS eCOM Fund (Gr)7.782.20%11.60%0.00%-42.90%
Birla IT Fund (Gr)22.852.20%4.80%102.00%18.20%
Chola Freedom Tech (Cum)17.751.40%9.40%28.30%25.40%
Pru ICICI Tech. (Gr)6.591.10%5.90%0.00%-33.00%
Alliance New Millenn (Gr)9.601.10%6.10%0.00%-37.20%
Tata IT Sector Fund13.790.90%6.70%119.60%29.90%
Sun F&C Emerg Tech (Gr)7.610.50%4.40%0.00%-11.10%

IT funds continued to see rapid growth. With the run-up in the prices of Infosys and Satyam (the cornerstone of most portfolios) IT funds continued to do well. All funds in this category witnessed growth over the week and the month. UTI’s Software fund was the star performer brushing aside misconceptions that private funds are better performers vis-ŕ-vis public sector funds.

Open-ended, Pharma FundsNAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
Magnum Sector Funds-Pharma10.163.10%5.40%0.00%0.90%
K P Pharma (Gr)10.262.30%1.90%8.50%8.10%
UTI Sector-Pharma10.511.60%3.40%0.00%-11.90%

Pharma funds also witnessed NAV appreciation. Indian pharma stocks (Ranbaxy, Cipla, Dr Reddy) had some role to play in this. MNC pharma stocks remained steady. Buying by retail investors and institutions implies that there is appetite for pharma stocks. SBI’s Magnum Pharma was the outperformer over the week and the month.

Open-ended, FMCG FundsNAV
(Rs)
Last
week
Last
month
Last
year
Since
inception
Magnum Sector Funds-FMCG8.971.80%3.00%0.00%-13.10%
K P FMCG (Gr) 12.010.80%2.00%10.40%18.60%
Pru ICICI FMCG (Gr)10.030.60%3.50%-4.70%-2.30%

Performance of FMCG funds’ can at best be described as staid, compared to IT and pharma. However, all FMCG funds were in the positive over the week. The reasons are not hard to find – all FMCG funds have taken large exposures to Hindustan Lever which is on a roll. (Incidentally Hindustan Lever went ex-split this week and buying interest continued to remain high).

As in pharma, SBI’s Magnum FMCG was most impressive over the week and the month. However, it improved over a much lower base, when compared to Kothari FMCG and Pru-ICICI FMCG.

Public sector funds seem to be creeping into the limelight very slowly. This is evident from the fact that all the three sectoral star performers (UTI and SBI MF) were from the public sector.


Equitymaster requests your view! Post a comment on "Sectoral Funds – Weekly roundup". Click here!

  

More Views on News

Sorry! There are no related views on news for this company/sector.

Most Popular

My Latest Stock Recommendation (Fast Profits Daily)

Oct 9, 2020

How I picked an exciting stock using trends from both the commodity and equity markets.

The 'Seedhi Baat, No Bakwaas' View on ITC (Profit Hunter)

Oct 12, 2020

Is ITC an investment or a speculation at current levels?

One of the Best Investment Opportunities in the Market Right Now (Fast Profits Daily)

Oct 16, 2020

The one sector that you should be looking at to make good profits.

The Inflection Point for Defence Stocks is Getting Closer (Profit Hunter)

Oct 9, 2020

Few Indian defence companies could use their engineering capabilities to eventually become global leaders.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

MARKET STATS