ICICI Prudential Infrastructure leads 8 Indian funds in world's top-10 infra list
22 Feb 2008
Mumbai: ICICI Prudential Infrastructure Fund, grabbed the top five ranks with eight Indian equity funds ranking among world's top 10 best performing infrastructure funds in 2007, data from fund tracker Lipper showed.
The ranking was made from among 58 such funds worldwide tracked by Lipper.
The Indian funds rose an average 79.9 per cent, outperforming their global peers that showed an average return of 18.7 per cent.
"Infrastructure was one of the dominant themes of 2007 in India, because of which local funds outperformed the general market and were also able to beat their global peers," an analyst with Lipper said.
Infrastructure funds were the best performers among Indian funds for two years in a row, with four of the top 10 funds notching gains of 90 per cent in 2007, compared with a 55 per cent plus jump by six of the top 10 in 2006.
At least nine of India's 33 mutual funds offered infrastructure related equity funds in 2007 and two so far this year, taking the total number of such funds to about 18, data from fund tracker ICRA showed.
World's Top-10 Infrastructure Funds - 2007
(Based on Returns %)
1. ICICI Prudential Infrastructure India 92.92
2. Canara Robeco Infrastructure India 90.94
3. Tata Infrastructure India 84.31
4. DSP Merrill Lynch India T.I.G.E.R. India 82.85
5. Sahara Infrastructure Fund-VP India 82.71
6. Spark Infrastructure Australia 79.35
7. Birla Infrastructure Fund-Plan B India 74.66
8. UTI Infrastructure Fund-Income India 71.85
9. Principal Infr & Srvs Indst India 59.21
10. Invesco Asia Infrastructure A Acc Luxembourg 55.25
(Returns calculated based on Indian rupees.)
Source: Lipper
