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MF league shaken

There has been a powershift in the mutual fund schemes this year, with a new set of leaders and laggards arising from the crash in the stock market this year, reports Sandeep Singh.

india Updated: Nov 12, 2008 21:50 IST
Sandeep Singh

There has been a powershift in the mutual fund schemes this year, with a new set of leaders and laggards arising from the crash in the stock market this year.

In the pack of equity schemes that were launched before January 31, 2005, there has been a significant change in the leadership in performance.

Of the top ten equity schemes that maintained their supremacy till January 31, 2008 on a three-year horizon, only three have been able to retain their position in the top ten and rest fell down the ranks. The five new entries in the top ten are schemes that held ranks beyond 20 only nine months ago.

Reliance Diversified power fund still manages to retain the top slot on a three year performance basis while two schemes of DWS Investments have made an entry into the top ten.

The biggest loser has been the SBI Funds Management as three schemes of the fund house saw themselves moving out of the list of top ten performers.

Also on the basis of the three-year performance the number of schemes outperforming Sensex has seen a significant change over the past nine months. While 53 schemes outperformed the three year sensex performance till January 31, 2008, the number of schemes doing so has gone down to 26 when looked at the three year performance as on October 31,2008.

Out of the schemes that got launched after January 31, 2005 but have a three year performance history then ICICI Prudential Infrastructure Fund with a three year compounded annual growth rate (CAGR) of 18.9 per cent and IDFC Premier Equity fund with a cagr of 12.8 per cent enter the top ten performers.