Income Funds heading the right way… - Views on News from Equitymaster

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Income Funds heading the right way…

Nov 9, 2000

The markets have shown an upward trend in the past week. This has proved beneficial not only for the growth funds but the income funds as well.

Open-ended, Growth Schemes NAV
(Rs)
Last
week
Last
month
Last
year
K 30 15.6 11.1% 0.8% 2.9%
IDBI Equity Fund (Gr) 10.5 9.5% 1.3% -13.4%
Grandmaster 1993 9.7 7.8% -1.0% -29.2%
Zurich (I) Top 200(Gr) 12.6 6.9% 3.0% -17.7%
Boinanza Exclusive Gr 6.9 6.8% 3.2% -21.5%
IL&FS Gr & Val (Gr) 12.9 6.7% 5.3% 0.0%
K MNC 9.2 6.7% -3.5% 0.0%
Mastergain 1992 10.7 6.7% -0.4% -17.9%
Templeton Growth Fund 12.0 6.7% 4.1% 10.3%
GIC D'MAT 7.7 6.6% 2.1% -27.7%
GIC Growth Plus II 13.7 6.6% -6.2% -3.5%
Magnum Global Fund 10.5 6.6% -0.8% -11.6%
(Shemes showing a growth of above 5%)

The above table clearly indicates how well the growth funds have performed in the last week, with some funds showing a growth of over 6.5% (as shown in the table). But some of the funds still show a negative growth, even on a yearly basis. This is a largely due to the selective recovery in stock prices.

In case of Income funds the trend is different.

Open-ended, Income Schemes NAV
(Rs)
Last
week
Last
month
Last
year
Deposit I-NIT 1997 (Plan A) 12.9 5.0% 1.2% 0.0%
K P Pension Plan (Gr) 16.4 2.1% 4.1% 12.3%
PNB Debt Fund (Gr) 11.8 1.4% 1.6% 18.0%
PNB Debt Fund (Div) 10.7 1.3% 1.6% 11.1%
Templeton MIP (Gr) 10.6 1.0% 1.4% 0.0%
Templeton MIP (HalfYly) 10.2 0.8% 1.4% 0.0%
Alliance Monthly Inc.(Gr) 12.9 0.8% 1.1% 18.0%
Alliance Monthly Inc (Mth Div) 10.1 0.7% 1.0% 15.2%
(Shemes showing a growth of above 0.7%)

Income funds have also shown positive growth in the last week, giving decent returns for the risk-averse investor. But unlike growth funds, income funds have largely shown a positive growth during both the monthly and yearly periods.

Investors should take note of this development, where returns from debt have exceeded those from equity. It is clearly evident from this study that exposure to Income funds can help stabilize your returns.

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