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Growth funds in recovery… - Views on News from Equitymaster
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  • Nov 23, 2000

    Growth funds in recovery…

    Major market indices – BSE Sensex and S&P CNX Nifty have fallen over the week by 0.6% and 1.0% respectively. However, diversified growth funds beat the indices posting growth in a falling market.

    Open-ended, Growth Schemes NAV
    Since inception
    BSE-Sensex - -0.56 7.8% -18.1% -
    S&P CNX Nifty - -0.98 7.4% -11.3% -
    CRISIL-500 - 0.36 9.0% -12.1% -
    Tata Pure Equity 12.5 4.7% 4.0% 24.7% 46.7%
    Libra Leap 17.8 4.2% 7.2% 13.8% 27.3%
    Taurus Starshare 8.6 4.0% 6.4% -6.7% -3.2%
    ING Growth (Gr) 15.5 3.2% 10.9% 9.1% 34.5%
    K P Bluechip (Gr) 22.4 2.1% 10.7% 9.7% 28.3%
    Sun F&C Emerg Tech (Gr) 6.1 2.0% 13.1% 0.0% -28.4%
    Sun F & C Value (Gr) 19.6 1.8% 10.9% -12.6% 26.1%
    Magnum Global Fund 10.4 1.8% 10.9% -17.9% 2.5%
    DSP ML Opportunities (Gr) 8.4 1.7% 9.4% 0.0% -5.1%
    Magnum Equity Fund 13.1 1.4% 7.8% -12.5% 14.1%
    K P Prima Fund (Gr) 19.2 1.4% 1.3% -31.6% 9.9%
    Boinanza Exclusive (Gr) 6.9 1.3% 11.5% -20.5% -4.0%
    DSP ML Equity Fund 16.5 1.0% 9.0% -14.1% 22.9%
    JM Equity Fund (Gr) 10.1 1.0% 9.7% -17.7% 0.7%
    UGS 10000 10.6 1.0% 6.5% -16.8% 3.2%

    *CAGR=Compounded Annual Growth Rate

    It is evident from the above table that even falling markets haven’t prevented growth funds clocking growth over the week thereby giving investors decent returns. Most growth funds have appreciated over the week and the month. Tech stocks are going strong with Infosys, Satyam, Visualsoft and NIIT leading the growth brigade. Given the high tech exposure in most diversified growth funds, the latter have benefited from this.

    Figures released by AMFI (Association of Mutual Funds in India) reveals that growth funds had net inflows despite markets weakening in October. This is a very good sign for the industry, underlining a great degree of investor maturity. It shows that growth fund investors accumulated units when the markets slumped.



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