labels: crisil, investment - general
Equity schemes stretch gains, debt schemes flat: CRISIL~RRR news
06 April 2006

CRISIL FundServices, in its monthly Risk Adjusted Return Ranking (CRISIL~RRR) of the performance of mutual fund schemes, has covered eleven mutual fund investment options and has ranked 241 schemes for the one-year period ended March 2006. The ranking covers 56 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 stretched its gains in March 2006 with the BSE Sensex crossing another milestone and closed at 11280 points. The benchmark S&P CNX Nifty reached an all-time high of 3419 points during the month and delivered returns of 10.66 per cent while the CNX Midcap Index delivered 8.9 per cent.

Foreign funds, as usual, drove the market, but the month also saw mutual funds (MFs) being active. FIIs and MFs together contributed Rs. 11015 crore in net market investment wherein FIIs contributed to 59 per cent while MFs contributed 41 per cent. One of the major highlights of the month was Reliance Mutual Fund mopping up Rs5,700 crore through the Reliance Equity Fund NFO thus breaking the 14-year old collection record of UTI Mastergain. Money market tightness remained though call rates stayed largely below 7 per cent owing to the RBI-infused liquidity. The US Federal Reserve raised benchmark interest rates by 25 bps to 4.75 per cent on March 28, which also weakened sentiments.

The equity funds category benchmark, the CRISIL Fund~eX, generated a return of 70.74 per cent for the year-ended March 2006.

  • Sundaram Select Midcap – Growth continued to top the category at CRISIL~RRR 1
  • Sundaram India Leadership Fund – Growth moved up by three notches to CRISIL~RRR 2
  • Merrill Lynch India T.I.G.E.R. Fund – Growth moved five notches to CRISIL~RRR 3.

In the equity-linked savings scheme (ELSS) category:

  • HDFC Long Term Advantage Fund – Growth moved up a notch to CRISIL~RRR 1
  • SBI Magnum Tax Gain Scheme 1993 was at CRISIL~RRR 2.
  • Principal Tax Saving Fund moved up two notches to CRISIL~RRR 3.

The Income funds benchmark, the CRISIL Fund~dX, generated returns of 3.71 per cent for the year-ended March 2006.

  • LICMF Bond Fund – Growth at CRISIL~RRR 1
  • UTI Bond Fund – Growth continued and CRISIL~RRR 2.
  • Kotak Bond Regular – Growth moved up by a notch to bag the CRISIL~RRR 3 position.

In the debt- short term category:

  • Reliance Short Term Fund – Growth continued at CRISIL~RRR 1
  • Kotak Bond Short Term Plan – Growth continued at CRISIL~RRR 2
  • HSBC Income Fund - Short Term Plan – Growth continued at CRISIL~RRR 3

The CRISIL STBEX, the benchmark for short-term income funds, generated returns of 3.84 per cent for the year-ended March 2006.

The balanced fund category benchmark, the CRISIL Fund~bX, generated returns of 52.86 per cent for the year-ended March 2006.

  • HDFC Prudence Fund – Growth continued at first place at CRISIL~RRR 1
  • Sundaram Balanced Fund – Growth moved up four notches to CRISIL~RRR 2
  • Birla Sun Life 95 Fund – Growth moved up by a notch to the third position at CRISIL~RRR 3.

The liquid fund category benchmark, the CRISIL~LX, generated returns of 5.33 per cent for the year-ended March 2006.

  • UTI Liquid Cash Plan – Growth remained on top at CRISIL~RRR 1
  • Reliance Liquid Fund - Treasury Plan – Growth continued at CRISIL~RRR 2
  • JM High Liquidity Fund – Growth moved up six notches to CRISIL~RRR 3.

In the floating rate fund category:
HDFC Floating Rate Income Fund - Short Term Plan – Growth stayed at CRISIL~RRR 1

Tata Floating Rate Fund - Short Term - Growth moved up one notch to CRISIL~RRR 2

JM Floater Fund - Short Term Plan – Growth was ranked third at CRISIL~RRR 3.

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

General Equity Funds

CRISIL RRR for Mar 06

CRISIL RRR for Feb 06

Sundaram Select Midcap - Growth

1

1

Sundaram India Leadership Fund - Growth

2

5

DSP Merrill Lynch India T.I.G.E.R. Fund - Growth

3

8

Equity Linked Savings Schemes (ELSS)

HDFC Long Term Advantage Fund - Growth

1

2

SBI Magnum Tax Gain Scheme 1993

2

1

Principal Tax Saving Fund

3

5

Balanced

HDFC Prudence Fund - Growth

1

1

Sundaram Balanced Fund - Growth

2

6

Birla Sun Life 95 Fund - Growth

3

4

Sector Funds

Birla India Opportunities Fund - Plan B - Growth

1

1

Birla Sun Life New Millennium Fund - Growth

2

2

DSP Merrill Lynch Technology Fund - Growth

3

4

Income Funds

LICMF Bond Fund - Growth

1

1

UTI Bond Fund - Growth

2

2

Kotak Bond Regular - Growth

3

4



Debt-Short Term

Reliance Short Term Fund - Growth

1

1

Kotak Bond Short Term Plan - Growth

2

2

HSBC Income Fund - Short Term Plan - Growth

3

3

Monthly Income Plan (MIP)

UTI Monthly Income Scheme - Growth

1

2

Birla Sun Life Monthly Income - Growth

2

3

Kotak Income Plus - Growth

3

1

Gilt-Long

LICMF G-Sec Fund - Growth

1

4

Grindlays G Sec Fund - PF Plan - Growth

2

6

UTI G-Sec Fund - Growth

3

5

Index (Ranked by Tracking Error)

UTI Nifty Index Fund - Growth

1

1

SBI Magnum Index Fund - Growth

2

2

UTI Master Index Fund - Growth

3

3

Floating Rate Funds

HDFC Floating Rate Income Fund - Short Term Plan - Growth

1

1

Tata Floating Rate Fund - Short Term - Growth

2

3

JM Floater Fund - Short Term Plan - Growth

3

2

 

 

 

 

 

 

 

 

 

 

 

One Year

Six months

Three months

Liquid Funds

Mar 06

Feb 06

Mar 06

Feb 06

Mar 06

Feb 06

UTI Liquid Cash Plan - Growth

1

1

1

1

1

1

Reliance Liquid Fund - Treasury Plan - Growth

2

2

2

2

3

3

JM High Liquidity Fund - Growth

3

9

5

6

17

16

 

 

 

 


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Equity schemes stretch gains, debt schemes flat: CRISIL~RRR