Dream run for ICICI equity funds

Mar 30 2014, 12:03 IST
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ICICI Prudential Top 100 Inst I emerged the top large-cap scheme for the one-year period, with returns of 26.45%. Reuters ICICI Prudential Top 100 Inst I emerged the top large-cap scheme for the one-year period, with returns of 26.45%. Reuters
SummaryFour schemes from its stable among top 10 performers in past one year

such as HDFC Top 200, Reliance Equity Opportunities, Franklin India Bluechip and DSPBR Top 100 Equity Reg.

The other two top performers for the six-month period are Motilal Oswal MOSt Shares M50 ETF (19.3%) and LIC Nomura MF Equity Direct (17.98%). Incidentally, three ICICI Prudential MF schemes also feature among the top 10 best performing schemes for the six-month period.

In the past three months, HSBC Equity Direct (6.09%) and UTI Leadership Equity Direct (5.89%) emerged the two top performers.

Despite their stellar performance, experts caution that one year is too short a time horizon to judge the performance of a scheme. “The fund manager may have got lucky or the sectors he is overweight on may have done well during the year,” said Hassija. “An investor should look at five-year returns at least, ideally looking at five-year rolling period, calendar year and trailing year returns. Only if the scheme consistently features in the top quartile can he be sure that the fund manager is consistent and sticking to the right stock-picking strategy.”

The benchmark 30-share BSE Sensex has given returns of 5.41%, 13.24% and 18.60% for three months, six months and one year, respectively. On the other hand, the broader 50-share Nifty has given returns of 6.05%, 14.78% and 17.83%, respectively, during the same period.

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