 CRISIL FundServices, in its monthly Risk Adjusted Return Ranking (CRISIL~RRR) of the performance of mutual fund schemes, has covered eleven mutual fund investment options and has ranked 244 schemes for the one-year period ended February 2006. The ranking covers 60 per cent of mutual funds industry assets under management (AUM). The CRISIL~RRR measures performance of the schemes not only on the returns given by the schemes over the period of analysis but also the risk they took to get those returns.
The stock market continued its buoyancy in February 2006 with the BSE Sensex crossing the historic five-figure mark to close at 10370 during the month. The S&P CNX Nifty too scaled its all time high of 3074.70 points at the end of the month. FIIs continued to dominate the market and invested over $1.6 billion in equities during the month. The benchmark S&P CNX Nifty delivered returns of 2.99 per cent during February 2006 while the CNX Midcap Index delivered 1.18 per cent. The money market continued to be tight though call rates eased below 7 per cent owing to RBI infused liquidity. The government also signaled a lowering of interest rates during the month with the reduction in yields of the post office Monthly Income Scheme to 8% from 9.2%. The equity funds category benchmark, the CRISIL Fund~eX, generated a return of 50.29 per cent for the year-ended February 2006. -
Sundaram Select Midcap - Growth topped the category by moving up a notch to CRISIL~RRR 1.
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SBI Magnum Global Fund was at CRISIL~RRR 2
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SBI Magnum Multiplier Plus Scheme 1993 - Dividend retained its rank at CRISIL~RRR 3. In the equity linked savings scheme (ELSS) category: -
SBI Magnum Tax Gain Scheme 1993 was at CRISIL~RRR 1
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HDFC Long Term Advantage Fund - Growth at CRISIL~RRR 2
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HDFC Tax Saver Fund - Growth was at CRISIL~RRR 3. In the software sector category: -
Birla India Opportunities Fund - Plan B - Growth continued at CRISIL~RRR 1
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Birla Sun Life New Millennium Fund - Growth moved up five notches to CRISIL~RRR 2.
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SBI Magnum Sector Umbrella - Infotech Fund was at CRISIL~RRR 3. The income funds benchmark, the CRISIL Fund~dX, generated returns of 4.07 per cent for the year-ended February 2006. -
LIC MF Bond Fund - Growth moved up by a notch to CRISIL~RRR 1
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UTI Bond Fund - Growth was at CRISIL~RRR 2.
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Principal Income Fund - Growth moved up by two notches to bag the CRISIL~RRR 3 position. In the debt-short term category: The CRISIL STBEX, the benchmark for short-term income funds, generated returns of 4.08 per cent for the year-ended February 2006. The balanced fund category benchmark, the CRISIL Fund~bX, generated returns of 40.48 per cent for the year-ended February 2006. -
HDFC Prudence Fund - Growth at CRISIL~RRR 1
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SBI Magnum Balanced Fund at CRISIL~RRR 2
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Principal Balanced Fund - Growth moved up by two notches to CRISIL~RRR 3. The liquid fund category benchmark, the CRISIL~LX, generated returns of 5.26 per cent for the year-ended February 2006. -
UTI Liquid Cash Plan - Growth continued to occupy the first positions at CRISIL~RRR 1
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Reliance Liquid Fund - Treasury Plan - Growth continued to occupy second ar CRISIL~RRR 2
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HDFC Cash Management Fund - Savings Plan - Growth moved up by one notch to be at CRISIL~RRR 3. In the floating rate fund category: -
HDFC Floating Rate Income Fund - Short Term Plan - Growth continued at CRISIL~RRR 1
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JM Floater Fund - Short Term Plan - Growth at CRISIL~RRR 2
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Tata Floating Rate Fund - Short Term - Growth moved up by two notches to CRISIL~RRR 3. In the gilt-long category:
Sahara Gilt Fund - Growth at CRISIL~RRR 1
Principal G-Sec Fund - PF Plan - Growth at CRISIL~RRR 2 and SBI Magnum Gilt Fund - Long Term - Growth at CRISIL~RRR 3 continued to maintain their positions | CRISIL Risk-aAdjusted Return Ranking for the period ended February 28, 2006 | | General Equity Funds | CRISIL RRR for Feb '06 | CRISIL RRR for Jan '06 | | Sundaram Select Midcap | 1 | 2 | | SBI Magnum Global Fund | 2 | 1 | | SBI Magnum Multiplier Plus Scheme 1993 | 3 | 3 | | Equity Linked Savings Schemes (ELSS) | | SBI Magnum Tax Gain Scheme 1993 | 1 | N.A | | HDFC Long Term Advantage Fund - Growth | 2 | N.A | | HDFC Tax Saver Fund - Growth | 3 | N.A | | Balanced | | | | HDFC Prudence Fund - Growth | 1 | 1 | | SBI Magnum Balanced Fund - Dividend | 2 | 2 | | Principal Balanced Fund - Growth | 3 | 5 | | Sector Funds | | Birla India Opportunities Fund - Plan B - Growth | 1 | 1 | | Birla Sun Life New Millennium Fund - Growth | 2 | 7 | | SBI Magnum Sector Umbrella - Infotech Fund | 3 | 2 | | LICMF Bond Fund - Growth | 1 | 2 | | UTI Bond Fund - Growth | 2 | 1 | | Principal Income Fund - Growth | 3 | 5 | | Debt-Short Term | | Reliance Short Term Fund - Growth | 1 | 1 | | Kotak Bond Short Term Plan - Growth | 2 | 2 | | HSBC Income Fund - Short Term Plan - Growth | 3 | 6 | | Monthly Income Plan (MIP) | | Kotak Income Plus - Growth | 1 | 3 | | UTI Monthly Income Scheme - Growth | 2 | 5 | | Birla Sun Life Monthly Income - Growth | 2 | 8 | | Gilt-Long | | Sahara Gilt Fund - Growth | 1 | 1 | | Principal G-Sec Fund - PF Plan - Growth | 2 | 2 | | SBI Magnum Gilt Fund - Long Term - Growth | 3 | 3 | | Index (Ranked by Tracking Error) | | UTI Nifty Index Fund | 1 | 1 | | SBI Magnum Index Fund | 2 | 2 | | UTI Master Index Fund | 3 | 3 | | Floating Rate Funds | | HDFC Floating Rate Income Fund - Short Term Plan - Growth | 1 | 1 | | JM Floater Fund - Short Term Plan - Growth | 2 | 2 | | Tata Floating Rate Fund - Short Term - Growth | 3 | 5 | | | One Year | Six months | Three months | | Liquid Funds | Feb '06 | Jan '06 | Feb '06 | Jan '06 | Feb '06 | Jan '06 | | UTI Liquid Cash Plan - Growth | 1 | 1 | 1 | 1 | 1 | 1 | | Reliance Liquid Fund - Treasury Plan - Growth | 2 | 2 | 2 | 2 | 3 | 4 | | HDFC Cash Management Fund - Savings Plan - Growth | 3 | 4 | 7 | 5 | 11 | 10 |
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