As a category equity-oriented balanced funds (first table) have performed better than the debtoriented balanced funds (second table). This is commendable during a period when markets were volatile and interest rates, that determine performance of debt schemes, flip-flopped. UTI’s Ulip plan commands huge investor confidence with its AUM substantially more than the other funds.
Information technology funds (third table) are steadily regaining lost ground.While DSP ML Technology almost recouped its losses in the past one year, Franklin Infotech delivered best six-month returns. Liquid Funds (fourth table) delivered reasonable six-month returns amid turmoil in the equity markets.
Size and pedigree do matter. We looked at funds with an AUM more than Rs 300 crore and checked their performance over a five-year period. SBI has three funds across the two categories—equity diversified (fifth table) and tax plans (sixth table). Magnum Tax Gain, with the biggest asset size, has earned higher returns than the best performing diversified equity scheme.
Sensex has lost 10% in the past six months. Comp-aratively index funds (seventh table) have fared better, curtailing and restricting losses to even under 4%, as in case of LICMF India Sensex. In fund of funds (eighth table) there is a huge variation between the returns of the top five funds and the rest of the category.
