labels: crisil, investment - general, mutual funds
MFs scale another peak; equities, liquid plans, FMPs rulenews
08 December 2006

The mutual funds' assets under management (AUMs) recorded a growth of over 10 per cent to touch Rs.3.41 trillion, another all-time high for the second month in a row. The buoyant equity market had a major role to play in the increase in AUMs, with liquid schemes and the popular fixed maturity plans providing strong support.

While liquid schemes saw a 15 per cent spurt in AUMs, income scheme assets increased by 9.5 per cent, and equity assets increased by 6.6 per cent during November, 2006. The mutual funds were in profit booking mode in the secondary market; they made net sales of Rs.247.3 million during the month. Their gross investments (the sum of buy and sell transactions) were, however, higher, at over Rs.250 billion compared to about Rs.200 billion, the previous month.

These findings were part of CRISIL Risk Adjusted Return Ranking (CRISIL~RRR), the monthly ranking report for mutual fund schemes from CRISIL FundServices. The CRISIL~RRR for the month of November 2006, covered 12 asset classes and 279 schemes, representing almost 53 per cent of the assets managed by domestic funds. The CRISIL~RRR measures the return performance of the schemes over the period of analysis, adjusted for the risks they took to get those returns.

During the month under review, the S&P CNX Nifty gained over 200 points, and closed in on the 4000 mark by the end of November, thus adding 6 per cent to its previous month's tally. The index reached an all time high of 3968 on November 27 in a firm and bullish equity uptrend. Foreign institutional investors continued to drive the market and pumped in over USD2 billion during the month. Further, a 9.2-per cent GDP growth in the second quarter (Q2) of 2006-07 (refers to financial year, April 1 to March 31), a slowdown in the US, and a weakening US dollar were the macro-level factors in favour of the rally.

Top performers:
Equity diversified category:

  • Sundaram BNP Paribas Select Midcap - Growth continued to top the category
  • UTI Infrastructure Fund - Dividend at CRISIL~RRR 2
  • HDFC Growth Fund - Growth was at CRISIL~RRR 3

The benchmark for the Diversified Equity Funds category, CRISIL Fund~eX, generated a return of 40.78 per cent for the year ended November 30, 2006.

Income Funds returns as measured by CRISIL Fund~dX, were a modest 4.68 per cent for the year ended November 30, 2006:

  • Sahara Income Fund - Growth topped the category at CRISIL~RRR 1
  • Birla Income Plus Plan B - Growth is ranked at CRISIL~RRR 2
  • Reliance Income Fund - Growth was at CRISIL~RRR 3.

Debt short-term category:

  • Reliance Short Term Fund - Growth continued to top the charts at CRISIL~RRR 1; Kotak Bond Short Term Plan - Growth moved one notch to CRISIL~RRR 2; JM Short Term Fund - Growth has moved one notch to be at CRISIL~RRR 3. The CRISIL

STBEX, the benchmark for short-term income funds, generated returns of 5.05 per cent for the year ended November 30, 2006.

The benchmark for balanced funds, the CRISIL Fund~bX, generated returns of 34.65 per cent for the year-ended November 2006:

  • FT India Balanced Fund - Growth continues to top the category at CRISIL~RRR 1; Sundaram BNP Paribas
    Balanced Fund - Growth was at CRISIL~RRR 2; while DSP Merrill Lynch Balanced Fund - Growth remains at CRISIL~RRR 3 position.

CRISIL Risk-Adjusted Return Ranking for the period ended November 30, 2006

General Equity Funds

CRISIL RRR for Nov 06

CRISIL RRR for Oct 06

Sundaram BNP Paribas Select Midcap - Growth

1

1

UTI Infrastructure Fund - Dividend

2

2

HDFC Growth Fund - Growth

3

3

Equity Linked Savings Schemes (ELSS)

 

 

Sundaram BNP Paribas Taxsaver - Growth

1

1

SBI Magnum Tax Gain Scheme 1993

2

6

DBS Chola Tax Saver Fund - Cumulative

3

N.A.

Balanced

 

 

FT India Balanced Fund - Growth

1

1

Sundaram BNP Paribas Balanced Fund - Growth

2

2

DSP Merrill Lynch Balanced Fund - Growth

3

3

Sector Funds

 

 

UTI Growth Sectors Fund-Software Fund - Dividend

1

1

SBI Magnum Sector Umbrella - Infotech Fund

2

2

Birla Sun Life New Millennium Fund - Growth

3

4

Income Funds

 

 

Sahara Income Fund - Growth

1

N.A.

Birla Income Plus Plan B - Growth

2

1

Reliance Income Fund - Growth

3

2

Debt-Short Term

 

 

Reliance Short Term Fund - Growth

1

1

Kotak Bond Short Term Plan - Growth

2

2

JM Short Term Fund - Growth

3

4

Monthly Income Plan (MIP)

 

 

Birla Sun Life Monthly Income - Growth

1

2

Kotak Income Plus - Growth

2

1

Prudential ICICI MIP Plan - Cumulative

3

3

Gilt-Long

 

 

CanGilt (PGS) - Growth

1

1

LICMF G-Sec Fund - Growth

2

2

Reliance Gilt Securities Fund - Long Term Plan - Growth

3

5

Index (Ranked by Tracking Error)

 

 

Franklin India Index Fund - NSE Nifty Plan - Growth

1

1

UTI Nifty Index Fund - Growth

2

2

UTI Master Index Fund - Growth

3

3

Floating Rate Long Term

 

 

DWS Floating Rate Fund - Growth

1

2

HDFC Floating Rate Income Fund - Long Term Plan - Growth

2

3

HSBC Floating Rate Fund - Long Term Plan - Growth

3

4

Floating Rate Short Term

 

 

DSP Merrill Lynch Floating Rate Fund Growth

1

1

UTI Floating Rate Fund - STP - Growth

2

2

CanFloating Rate - STP - Growth

3

3


 

One Year

Six months

Three months

Liquid Funds

Nov06

Oct06

Nov06

Oct06

Nov06

Oct06

BOB Liquid Fund - Growth

1

1

12

10

1

2

DSP Merrill Lynch Liquidity Fund - Growth

2

2

18

17

3

10

CanLiquid - Growt

3

3

1

4

5

7

 

 


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MFs scale another peak; equities, liquid plans, FMPs rule