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Growth fund NAVs slide - Views on News from Equitymaster
 
 
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  • Aug 4, 2000

    Growth fund NAVs slide

    Subdued mood in the markets has taken its toll on growth funds. Fund NAVs are declining progressively over the past few days.

    Open-ended, Growth†Funds NAV
    (Rs)
    Last
    week
    Last
    month
    Last
    year
    Since
    inception
    BSE - 30 - -0.5% -11.4% -6.3% -
    CNX S&P 50 - -0.5% -11.1% 3.5% -
    CNX S&P 500 - -1.4% -10.3% 6.7% -
    Mastershare Plus 1991 21.8 1.7% 7.8% 5.0% 6.2%
    Primary Equity Fund 15.5 1.6% 6.7% 31.8% 11.5%
    DSP ML Equity Fund 18.0 1.0% 7.4% 35.7% 34.5%
    GIC D'MAT 8.1 1.0% 5.8% 0.0% -22.7%
    Sun F & C Value (Gr) 20.8 1.0% 8.7% 44.1% 38.6%
    ING Growth (Gr) 16.6 0.9% 20.8% 92.6% 84.7%
    Mastergain 1992 11.2 0.8% 8.1% 7.5% 4.3%
    Zurich(I) Capital Builder 12.9 0.8% 6.7% 14.3% 5.9%
    Birla Advantage Fund 37.4 0.7% 12.0% 120.3% 39.6%
    Franklin India (Gr) 7.2 0.6% 8.0% 0.0% -23.0%

    (The above table consists of funds that have given over 0.6% returns over the last week)

    No diversified growth fund gave returns of over 2% (in the last week) with UTIís Masterplus 1991 posting the highest growth of 1.7%. The Primary Equity Fund (also from UTIís stable) came a close second with 1.6% growth.

    One major consolation for the funds is that the benchmark indices did no better. All three benchmark indices that we have taken fell over the last week. So growth funds that beat these indices have done reasonably well for themselves.

    Funds with higher exposure to TMT stocks have witnessed a sharper fall in NAVs. Funds with higher cement allocation have witnessed a surge consequent to the rise in cement stock prices.

     

     

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