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Sectoral funds - Weekly round-up

Nov 18, 2000

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 FundsNAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
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-IT13.5-3.7%7.4%-1.8%77.5%
Chola Freedom Tech (Cum)13.3-4.0%7.0%-8.8%9.9%
K Tech6.3-4.0%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 Fund9.8-4.8%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- Software17.0-5.1%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 FundsNAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
Since inception
UTI Sector-Pharma10.8-1.0%11.7%-10.8%-6.4%
Magnum Sector Funds-Pharma9.8-1.9%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 FundsNAV
(Rs)
Last
week
Last
month
Last
year
*CAGR
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-FMCG8.1-1.9%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 isn’t something new either. The major gainers in the week included Britannia, Tata Tea and Essel Packaging.

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