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MFs give handsome returns

BS Bureau in Mumbai | February 03, 2004

The current correction in the equity markets notwithstanding, mutual fund investors who had reposed their faith in the equity segment, have been handsomely rewarded.

The one year point-to-point return by the equity schemes as measured by the Crisil's benchmark Fund~eX was 95.90 per cent up to December 2003.

Top of the charts

  • Equity diversified funds
    • Alliance Basic Industries Fund
    • DSP Merrill Lynch Opportunities Fund
    • IL&FS Growth Value Fund
    • Reliance Vision Fund
  • Income funds
    • Kotak Bond Wholesale
    • Templeton India IBA-Plan A
  • Balanced funds
    • HDFC Prudence
    • DSP Merrill Lynch Balanced Fund
    • FT India Gilt Fund - Investment Plan
  • Debt short term funds
    • JM Short Term Fund
    • Prudential ICICI Short Term Plan
  • Liquid funds
    • Prudential ICICI Liquid Plan
    • Templeton India Treasury Management Account
  • Monthly income plans
    • Alliance Monthly Income Scheme

Funds ranked CPR-1 for the quarter ended December 2003

After a strong performance, the returns of the long-term debt schemes seem to have settled in the range of 6-8 per cent for the year. 

Crisil's Composite Performance Rankings (CPR) for the quarter ended December 2003 cover 134 schemes, from 22 fund houses covering seven investment categories, including a new investment category-of monthly income plans.

The MIPs are hybrid schemes with a major portion of their investment in debt and a small exposure to equity. The relatively sharp returns from the equity market rally have added to the growing popularity of these schemes.

In the equity diversified category, 35 schemes were evaluated and the top four schemes Alliance Basic Industries Fund, DSP Merrill Lynch Opportunities Fund, IL&FS Growth Value Fund and Reliance Vision Fund were ranked at the top as CPR-1. The CPR~1 ranking indicates very good performance in relation to its peers.

In the income category, two new schemes have emerged at the top of the table. Kotak Bond Wholesale and Templeton India IBA - Plan A were ranked at CPR-1.

In the balanced category, HDFC Prudence continues to be at CPR-1 and is joined by DSP Merrill Lynch Balanced Fund. The FT India Gilt Fund - Investment Plan entered the ranking universe at the top of the table.

Among the debt short term schemes, the JM Short Term Fund is joined by the Prudential ICICI Short Term Plan at CPR-1 while in the Liquid category, Prudential ICICI Liquid Plan has retained its CPR-1 and is joined at the top by Templeton India Treasury Management Account.

For the new category on monthly income plans started in the current quarter, seven schemes were ranked and Alliance Monthly Income Scheme is at CPR-1.

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