labels: crisil, investment - general, mutual funds
Equity schemes ride on bull run, debt schemes volatile: CRISIL~RRRnews
13 February 2006

CRISIL FundServices, in its monthly Risk Adjusted Return Ranking (CRISIL~RRR) of the performance of mutual fund schemes, has covered ten mutual fund investment options and has ranked 228 schemes for the one-year period ended January 2006. The ranking covers 58 per cent of mutual funds industry assets under management (AUM). The CRISIL~RRR measures performance of the schemes not only on the returns given by the schemes over the period of analysis but also the risk they took to get those returns.

The stock market continued its upward climb in January 2006 with the S&P CNX Nifty scaling an all time high of 3001 points during the month. FIIs were active and invested over $800 million during the month. The benchmark S&P CNX Nifty delivered returns of 5.62 per cent during January 2006 while the CNX Midcap Index delivered 6.67 per cent.

The money market remained tight and call money rates touched 8 per cent as a result of the hike in reverse repo rates in the RBI's Monetary Policy Review. The month also saw another rate hike from the stable of the US Federal Reserve wherein the federal funds rate was increased by 25 basis points to 4.50 per cent. The rate hike was the 14th in a span of two years.

The equity funds category benchmark, the CRISIL Fund~eX, generated a return of 52.82 per cent for the year-ended January 2006.

  • SBI Magnum Global Fund continued to top the ranking at CRISIL~RRR 1.
  • Sundaram Select Midcap – Growth remained at CRISIL~RRR 2
  • SBI Magnum Multiplier Plus Scheme 1993 – Dividend moved up by three notches to be at CRISIL~RRR 3.

In the software sector category:

  • Birla India Opportunities Fund - Plan B – Growth continued at CRISIL~RRR 1
  • SBI Magnum Sector Umbrell – Infotech Fund continued at and CRISIL~RRR 2
  • Prudential ICICI Technology Fund – Growth moved up two notches to CRISIL~RRR 3.

The income funds benchmark, the CRISIL Fund~dX, generated returns of 4.71 per cent for the year-ended January 2006.

  • UTI Bond Fund – Growth moved up by a notch to CRISIL~RRR 1
  • LICMF Bond Fund – Growth moved down by a notch to CRISIL~RRR 2
  • HDFC High Interest Fund – Growth moved up by a notch to CRISIL~RRR 3.

In the debt short term category:

  • Reliance Short Term Fund – Growth
  • Kotak Bond Short Term Plan – Growth
    continued to top the charts at CRISIL~RRR 1 and CRISIL~RRR 2 respectively.
  • HDFC Short Term Plan – Growth moved up by two notches to be at the third place, viz., CRISIL~RRR 3.

The CRISIL STBEX, the benchmark for short-term income funds, generated returns of 4.47 per cent for the year-ended January 2006.

The balanced fund category benchmark, the CRISIL Fund~bX, generated returns of 42.78 per cent for the year-ended January 2006.

  • HDFC Prudence Fund – Growth continued to occupy the first at CRISIL~RRR 1SBI
  • Magnum Balanced Fund continued to at CRISIL~RRR 2
  • Sundaram Balanced Fund – Growth moved up by three notches to the third position at CRISIL~RRR 3.

The liquid fund category benchmark, the CRISIL~LX, generated returns of 5.20 per cent for the year-ended January 2006. With high volatility in the category:

  • UTI Liquid Cash Plan – Growth moved up by one notch to CRISIL~RRR 1
  • Reliance Liquid Fund - Treasury Plan – Growth moved up three places at CRISIL~RRR 2. HDFC Liquid Fund – Growth moved up by one notch to be at CRISIL~RRR 3.

In the Floating Rate fund category:

  • HDFC Floating Rate Income Fund - Short Term Plan – Growth continued at CRISIL~RRR 1
  • JM Floater Fund - Short Term Plan – Growth continued at CRISIL~RRR 2.
    Kotak Floater - Short Term – Growth moved up by one notch to CRISIL~RRR 3.

In the gilt-long category:

  • Sahara Gilt Fund – Growth,
  • Principal G-Sec Fund - PF Plan – Growth
  • SBI Magnum Gilt Fund - Long Term – Growth
    continued to maintain their positions at CRISIL~RRR 1, CRISIL~RRR 2 and CRISIL~RRR 3 respectively.

CRISIL Risk-Adjusted Return Ranking for the period ended January 31, 2006

General Equity Funds

CRISIL RRR for Jan 06

CRISIL RRR for Dec 05

SBI Magnum Global Fund

1

1

Sundaram Select Midcap

2

2

SBI Magnum Multiplier Plus Scheme 1993

3

6

Balanced

 

 

HDFC Prudence Fund

1

1

SBI Magnum Balanced Fund

2

2

Sundaram Balanced Fund

3

6

Sector Funds

 

 

Birla India Opportunities Fund

1

1

SBI Magnum Sector Umbrella

2

2

Prudential ICICI Technology Fund

3

5

Income Funds

 

 

UTI Bond Fund - Growth

1

2

LICMF Bond Fund - Growth

2

1

HDFC High Interest Fund - Growth

3

4

Debt-Short Term

 

 

Reliance Short Term Fund

1

1

Kotak Bond Short Term Plan

2

2

HDFC Short Term Plan

3

5

Monthly Income Plan (MIP)

 

 

Tata Monthly Income Fund

1

1

HDFC Monthly Income Plan

2

12

Kotak Income Plus

3

4


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Equity schemes ride on bull run, debt schemes volatile: CRISIL~RRR