Equity schemes under perform debt consistent: CRISIL~RRR
06 September 2005
The India growth story continued to fuel the rally in the stock markets with the BSE Sensex scaling new highs during August 2005. The markets witnessed volatility during the month before ending the month at 7805.43 delivering returns of 2.23 per cent during the month. The midcaps continued to outperform the large caps with the CNX Midcap Index ending the month at 3663.05 delivering returns of 7.46 per cent during the month.
The debt markets remained range bound in the absence of any major positive news other than the comfortable liquidity position. The major concern for the debt markets remain the surge in oil prices which have crossed the $70 a barrel during August 2005.
The equity funds category benchmark, the CRISIL Fund~eX, generated a return of 59.41 per cent for the year-ended August 2005, with the top performers being:
- SBI Magnum Global Fund remained top performer at CRISIL~RRR 1 in the category.
- SBI Magnum Sector Umbrella - Contra Fund: CRISIL~RRR 2
- Sundaram Select Midcap Fund: CRISIL~RRR 3.
In the software sector category:
- Birla India Opportunities Fund - Plan B maintained its leadership at CRISIL~RRR
- Prudential ICICI Technology Fund: CRISIL~RRR 2
SBI Magnum Sector Umbrella - Infotech Fund: CRISIL~RRR 3.
The income funds benchmark, the CRISIL Fund~dX, generated returns of 4.78 per cent for the year-ended August 2005. The top three schemes in the income funds category were:
- UTI Bond Fund at CRISIL~RRR 1
- Tata Income Fund - Appreciation: CRISIL~RRR 2
- HDFC High Interest Fund - Growth: CRISIL~RRR 3.
