How we arrived at Lipper Mutual Fund Awards 2011 winners
June 13, 2011To arrive at the Lipper Mutual Fund Awards 2011 winners, Thomson Reuters used several criteria. The primary ones: the funds, as of end-December 2010, should have been registered for sale in India, and should have had a minimum of 36 months of performance history. The Lipper Global classifications with at least 10 distinct portfolios based on the primary share class definition were applicable. Residual classifications, institutional, private, closed-end, exchange traded and insurance-linked funds were excluded. The asset classes looked at were equity, bond, and mixed-assets, except for the Absolute Return Funds category where the money market and other fund asset types were considered as well.
Fund Classification Awards
The currency for the calculation corresponded to the Indian Rupee and relied on monthly data. Classification averages were calculated with all eligible share classes for each eligible classification. The calculation periods extended over 36, 60, and 120 months. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determined the fund classification winner over three, five, or 10 years.
Asset Class Group Awards
Fund groups with at least five equity, five bond, or three mixed asset portfolios in the respective asset classes were eligible for a group award. The lowest average decile rank of the three years' Consistent Return measure of the funds was used to determine the winner. Calculated on a scale of one to 10, a decile ranking of one denotes a fund's return was in the top 10 per cent among its peers, and so on for two (top 20 per cent) and numbers to 10. In cases of identical results the average percentile rank determined the winner.
Overall Group Award
Fund groups with at least five equity, five bond, and three mixed asset funds were also eligible for an overall group award. An overall group award is given to the group with the lowest average decile ranking of its respective asset class results. In cases of identical results the lower average percentile rank determines the winner.
ICICI Prudential AMC
Winner in the 5-and 10-year equity (Information Technology) category.
HDFC Mutual Fund
Winner in the 3-and 5-year mixed asset (Balanced) category
Winner in the 10-year government bond category
Amandeep Singh Chopra
UTI Mutual Fund
Winner in the 5-and 10-year mixed asset (Conservative) category.
Winner in the 3-year equity category
Amit Tripathi, Ashwani Kumar
Reliance Mutual Fund
Winners in the 3-year mixed asset (Conservative) category.
ICICI Prudential AMC
Winner in the 3- and 5-year mixed asset (Flexible) category.