Desi equity MFs shining globally
Even as their assets under management (AUM) dwindle, equity mutual funds have something to cheer about.
By Udit Prasanna Mukherji, TNN |
KOLKATA: Even as their assets under management (AUM) dwindle, equity mutual funds have something to cheer about. A study conducted by iFAST Financial has revealed that Indian diversified equity mutual funds are among the top performers globally in the last one year compared to their counterparts in other advanced markets.
The performance of Indian equity MFs for the period from January 10 to June 10, 2010 is also quite convincing. If one considers the returns given in the last one year as a benchmark, Indian and Indonesian funds clearly dominated the list of 20 top performing equity funds. "19 out of the 20 top performing funds are from these two countries," the report says.
There are 13 Indian funds in the top chart, followed by 6 from Indonesia and one from Philippines. The Indian funds that made it to the list include DSP Black Rock Small & Mid Cap, Reliance Equity Opportunity (growth), HDFC Mid Cap, UTI Mid Cap growth, ICICI Prudential Emerging STAR, IDFC Small & Mid Cap, Kotak Mid Cap growth, Franklin India Prima and Principal Emerging Bluechip.
As per the study, the top performing Indian funds are those that maintained higher exposure to mid cap and small cap stocks. "BSE Mid Cap and BSE Small Cap have delivered 40.8% and 58.03% returns respectively over a one-year period which is the key to the success of diversified MFs with high exposure to mid and small caps," the report says.
Even by the year-till-date-return parameter, the list of top 20 performing equity funds was dominated by funds from Malaysia, India, Indonesia and Thailand.
The performance of Indian equity MFs for the period from January 10 to June 10, 2010 is also quite convincing. If one considers the returns given in the last one year as a benchmark, Indian and Indonesian funds clearly dominated the list of 20 top performing equity funds. "19 out of the 20 top performing funds are from these two countries," the report says.
There are 13 Indian funds in the top chart, followed by 6 from Indonesia and one from Philippines. The Indian funds that made it to the list include DSP Black Rock Small & Mid Cap, Reliance Equity Opportunity (growth), HDFC Mid Cap, UTI Mid Cap growth, ICICI Prudential Emerging STAR, IDFC Small & Mid Cap, Kotak Mid Cap growth, Franklin India Prima and Principal Emerging Bluechip.
As per the study, the top performing Indian funds are those that maintained higher exposure to mid cap and small cap stocks. "BSE Mid Cap and BSE Small Cap have delivered 40.8% and 58.03% returns respectively over a one-year period which is the key to the success of diversified MFs with high exposure to mid and small caps," the report says.
Even by the year-till-date-return parameter, the list of top 20 performing equity funds was dominated by funds from Malaysia, India, Indonesia and Thailand.
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