The biggest five fund houses, including Reliance, HDFC and ICICI Prudential, do not figure in the list of top 20 schemes that rallied the most in the Sensex rally that has seen a spurt of 29 per cent between March 9 and April 6.
Even though a one-month return is a only a very short term indicator to assess the performance of mutual funds, it is surprising to see that not a single equity scheme of the top five players (on the basis of their assets under management) that includes— Reliance Asset Management Company (AMC), HDFC AMC, ICICI Prudential AMC, UTI AMC and Birla Sunlife AMC, managed to make it to the list of quick gainers.
The biggest losers over the past one year have emerged as the biggest gainers in the past one month as 10 schemes out of the top 20 fall in the last quartile (last 25 per cent in terms of performance) on the basis of the returns generated over the last one-year.
While the benchmark Sensex gained 26.5 per cent between March 6 and April 6, there were 12 schemes that outperformed the index. JM Basic emerged as the top gainer in the rally with a gain of 34.4 per cent. However the scheme also tops the list of one-year losers, and is down 63 per cent over the past one year.
Four schemes each of JM Financial Mutual Fund and DBS Cholamandalam AMC and three schemes of Principal Mutual Fund saw their names listed among the top 20 leaders on the basis of their one-month returns.