Top-ranking equity funds have been consistent in their performance over the past three months. Seventeen of the 22 equity funds that were ranked one (Fund Rank 1) for the quarter ended June maintained their rankings during the September quarter, according to a press note issued by CRISIL .
"Investors prefer to hold funds that are superior and consistent in their performance over time to avoid churning costs. Top-ranking equity schemes showcased strong performance and outperformed the relevant index during the latest quarter," said Tarun Bhatia, director-capital markets, CRISIL.
Rank 1 diversified equity schemes gave the highest return among all equity categories at 14.95% and outperformed both the S&P CNX Nifty and the S&P CNX 500 which gave returns of 13.50% and 11.41%, respectively, the press note added.
CRISIL's MF rankings covered 452 open-ended funds accounting for 72% of the average assets managed by Indian mutual funds in September 2010. Among fund houses, HDFC Mutual Fund led the tally of top ranked funds - with 16 funds under rank 1 - across equity and debt categories. HDFC MF was closely followed by DSP BlackRock Mutual Fund with eight funds and Birla Sun Life Mutual Fund with seven funds under Rank 1. Taking a category wise split, Fidelity India Growth, HDFC Top 200 and ICICI Prudential Focused Bluechip led the large-cap equity fund group while Birla Sunlife Dividend, DSP Blackrock Opportunities and Fidelity Equity Fund topped the diversified category.
Birla Sunlife Basic Industries Fund and DSP Blackrock Natural Resources Fund managed top slots under thematic funds. DSP Blackrock Micro Cap Fund, DSP Blackrock Small & Midcap Fund along with HDFC Mid-cap Opportunities Fund were ranked best among small & midcap funds.
While Canara Robeco Equity Tax Saver and Fidelity Tax Advantage bagged top slots in the ELSS segment, HDFC High Interest Fund and HDFC Income Fund were ranked first among long-term income funds.
DSP Blackrock Equity Fund, HDFC Equity and HDFC Top 200 were adjudged consistent performers by CRISIL.
CRISIL's fund ranking framework provides a single-point analysis of mutual funds taking into consideration all factors such as risk-adjusted returns, asset concentration, liquidity, asset quality and asset size. The rankings also include categories that focus specifically on long-term consistency in performance. The ranks are assigned on a scale of 1-5, with 'CRISIL Fund Rank 1', indicating 'very good performance'.
Source: http://economictimes.indiatimes.com/personal-finance/mutual-funds/mf-news/Top-equity-funds-maintain-growth-tempo-in-Q2/articleshow/6839618.cms
"Investors prefer to hold funds that are superior and consistent in their performance over time to avoid churning costs. Top-ranking equity schemes showcased strong performance and outperformed the relevant index during the latest quarter," said Tarun Bhatia, director-capital markets, CRISIL.
Rank 1 diversified equity schemes gave the highest return among all equity categories at 14.95% and outperformed both the S&P CNX Nifty and the S&P CNX 500 which gave returns of 13.50% and 11.41%, respectively, the press note added.
CRISIL's MF rankings covered 452 open-ended funds accounting for 72% of the average assets managed by Indian mutual funds in September 2010. Among fund houses, HDFC Mutual Fund led the tally of top ranked funds - with 16 funds under rank 1 - across equity and debt categories. HDFC MF was closely followed by DSP BlackRock Mutual Fund with eight funds and Birla Sun Life Mutual Fund with seven funds under Rank 1. Taking a category wise split, Fidelity India Growth, HDFC Top 200 and ICICI Prudential Focused Bluechip led the large-cap equity fund group while Birla Sunlife Dividend, DSP Blackrock Opportunities and Fidelity Equity Fund topped the diversified category.
Birla Sunlife Basic Industries Fund and DSP Blackrock Natural Resources Fund managed top slots under thematic funds. DSP Blackrock Micro Cap Fund, DSP Blackrock Small & Midcap Fund along with HDFC Mid-cap Opportunities Fund were ranked best among small & midcap funds.
While Canara Robeco Equity Tax Saver and Fidelity Tax Advantage bagged top slots in the ELSS segment, HDFC High Interest Fund and HDFC Income Fund were ranked first among long-term income funds.
DSP Blackrock Equity Fund, HDFC Equity and HDFC Top 200 were adjudged consistent performers by CRISIL.
CRISIL's fund ranking framework provides a single-point analysis of mutual funds taking into consideration all factors such as risk-adjusted returns, asset concentration, liquidity, asset quality and asset size. The rankings also include categories that focus specifically on long-term consistency in performance. The ranks are assigned on a scale of 1-5, with 'CRISIL Fund Rank 1', indicating 'very good performance'.
Source: http://economictimes.indiatimes.com/personal-finance/mutual-funds/mf-news/Top-equity-funds-maintain-growth-tempo-in-Q2/articleshow/6839618.cms
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