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Sectoral funds - Weekly round-up - Views on News from Equitymaster
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  • Nov 18, 2000

    Sectoral funds - Weekly round-up

    This week saw the BSE Sensex on a roller coaster. On the first day itself, the market fell by 121points, however it recovered during the week to close at 3,906 points showing a growth of 2.2%. Similarly, S&P CNX Nifty also appreciated by 2.4% closing at 1,236 points.

    Open-ended, IT†Funds NAV
    Since inception
    K P Internet Opport.(Gr) 6.8 -2.0% 9.1% 0.0% -29.0%
    K P Infotech (Gr) 25.4 -2.7% 9.6% 22.5% 111.6%
    Magnum Sector Funds-IT 13.5 -3.7% 7.4% -1.8% 77.5%
    Chola Freedom Tech (Cum) 13.3 -4.0% 7.0% -8.8% 9.9%
    K Tech 6.3 -4.0% 6.5% 0.0% -19.3%
    Birla IT Fund (Gr) 15.1 -4.3% 2.4% -14.8% 8.7%
    Pru ICICI Tech. (Gr) 5.5 -4.4% 9.0% 0.0% -44.6%
    Tata IT Sector Fund 9.8 -4.8% 7.9% 5.7% 17.1%
    DSP ML Tech.com (Gr) 7.2 -4.9% 5.6% 0.0% -16.0%
    IL&FS eCOM Fund (Gr) 5.4 -4.9% 8.0% 0.0% -60.3%
    UTI Sector- Software 17.0 -5.1% 1.5% 24.5% 29.8%
    Alliance New Millenn (Gr) 7.9 -5.3% 10.8% 0.0% -48.1%

    *CAGR=Compounded Annual Growth Rate

    From the above table, it is evident that in this week IT funds struggled to log returns. All IT funds posted negative performance over the week. However IT funds managed to hold their own over a month. Software major, Infosys, remained subdued during the week. The major gainers were Wipro, Satyam and HCL Tech.

    Open-ended, Pharma†Funds NAV
    Since inception
    UTI Sector-Pharma 10.8 -1.0% 11.7% -10.8% -6.4%
    Magnum Sector Funds-Pharma 9.8 -1.9% 4.5% -25.0% -2.0%
    K P Pharma (Gr) 9.5 -2.0% 3.5% -28.8% 1.1%

    *CAGR=Compounded Annual Growth Rate

    Pharma funds also failed to post returns in the week. However, Indian pharma was in the limelight on the first day of the week when the Sensex fell by 121 points. But as the week progressed pharma stocks witnessed a decline. The major gainers were Glaxo and Novartis (ex-split).

    Open-ended, FMCG†Funds NAV
    Since inception
    Pru ICICI FMCG (Gr) 9.4 -1.3% 3.3% -13.1% -5.7%
    K P FMCG (Gr) 11.0 -1.8% -0.7% -6.9% 7.9%
    Magnum Sector Funds-FMCG 8.1 -1.9% 0.5% -28.0% -13.8%

    *CAGR=Compounded Annual Growth Rate

    FMCG funds have witnessed a dismal performance in this week, which has become more of a norm than an exception for FMCG funds. Buying interest is conspicuous by its absence, which isnít something new either. The major gainers in the week included Britannia, Tata Tea and Essel Packaging.



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