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Global funds excel in March April 20, 2012
We bring you an update on the Fundsupermart Equity Fund Index (FEFI) performance as well as the best and the worst performing funds on Fundsupermart.com.
Author : iFAST Research Team


 Global funds have excel in March

FEFI PERFORMANCE UPDATE

Equity markets closed in red in March after a fantastic performance in January and February. The BSE Sensex index started the month at 17584 and closed at 17404 with posting a negative return of 1.96%. The equity markets rallied in the first two months of the year on optimism of probable reversal of interest rate cycle and expectations from the union budget. However, neither the budget nor any reversal of interest rate cycle has helped the markets to continue its upward momentum March. FEFI began the month with 1,917 points and ended the month at 1,923 points losing 7 points, or down by 0.36% on a month-on-month basis.

As seen in chart 1, FEFI has managed to outperform Sensex on a monthly and year to date basis. In March, FEFI delivered returns of -0.36% while SENSEX ended the month returning -1.96%.

Chart 1: Comparative performance of FEFI with SENSEX since 31 December 2011

MARKET UPDATE

Most of the equity indices on Bombay Stock Exchange gave negative returns in March except for Healthcare, FMCG & Auto which returned in the range of -9.13% to 7.83%. The BSE Midcap index outperformed the broader indices like Sensex and S&P CNX Nifty whereas BSE Smallcap Index has underperformed. The BSE Midcap and Smallcap indices gave a return of -0.63% and -3.36% respectively, whereas Sensex and S&P CNX Nifty gave returns of -1.96% and -1.66% respectively.

 

BSE FMCG Index has delivered the best returns, delivering 7.83%, the growing demand in the urban and in the rural areas could be the reason for the outperformance. Healthcare and Auto are the other two sectors which posted positive returns in March. Other broad based indices like BSE 100, BSE 200, BSE 500, CNX 100 and CNX 500 also closed in the red.

 

Table 1: FEFI Index levels

  FEFI Year-to-date (%) Month-to-date(%)
31 December 2011 1648.62 - -
31 January 2012 1837.89 11.48 11.48
29 February 2012 1929.56 17.04 4.99
30 March 2012 1922.68 16.62 -0.36

 

TOP 5 FUNDS ON FUNDSUPERMART.COM

FMCG Fund along with Global Funds was the top performers in the month of March.  Out of top 5 slots, 4 slots were occupied by the Global Funds. The outperformance of global equity markets against Indian markets could be the reason of outperformance of Global Funds.

ICICI Prudential FMCG Fund was the top performer in March returning 7.98% returns.

 

Table 2: Top 5 Equity Funds on Fundsupermart.com in March 2012

 
Category
MTD
YTD
ICICI Prudential FMCG Fund (G)
FMCG
7.98%
12.87%
FT India Feeder - Franklin U.S. Opportunities Fund (G)
Global
6.89%
NA
ING Global Real Estate Fund (G)
Global
5.37%
6.99%
DWS Global Agribusiness Offshore Fund (G)
Global
5.02%
10.01%
Birla Sun Life International Equity Fund - Plan A (G)
Global
4.94%
6.34%

 

BOTTOM 5 FUNDS ON FUNDSUPERMART.COM

The bottom five slots were majorly occupied by Global Funds. The Global Funds which invests across companies engaged in mining of precious metals has underperformed in March.  The underperformance of gold could be the reason of underperformance of these funds.

Birla Sun Life Commodity Equities Fund - Global Precious Metals Plan was the bottom performer in March delivering negative returns close to 11.67% on a month-on-month basis. This was the bottom performing fund in February as well.

 

Table 3: Bottom 5 Equity Funds on Fundsupermart.com in March 2012

 
Category
MTD
YTD
Birla Sun Life Commodity Equities Fund - Global Precious Metals Plan (G)
Global
-11.67%
-5.53%
DSP BlackRock World Gold Fund (G)
Global
-9.73%
-6.35%
AIG World Gold Fund (G)
Global
-7.79%
-6.00%
DSP BlackRock World Mining Fund (G)
Global
-7.00%
0.33%
Baroda Pioneer PSU Equity Fund (G)
Speciality
-5.30%
14.00%

Disclaimer: iFAST and/or its content and research team’s licensed representatives may own or have positions in the mutual funds of any of the Asset Management Company mentioned or referred to in the article, and may from time to time add or dispose of, or be materially interested in any such. This article is not to be construed as an offer or solicitation for the subscription, purchase or sale of any mutual fund. No investment decision should be taken without first viewing a mutual fund's scheme information document including statement of additional information. Any advice herein is made on a general basis and does not take into account the specific investment objectives of the specific person or group of persons. Investors should seek for professional investment, tax, and legal advice before making an investment or any other decision. Past performance and any forecast is not necessarily indicative of the future or likely performance of the mutual fund. The value of mutual funds and the income from them may fall as well as rise. Opinions expressed herein are subject to change without notice. Please read our disclaimer on the website.Please read our disclaimer in the website. Risk Factors: Mutual funds, like securities investments, are subject to market risks and there is no guarantee against loss in the Scheme or that the Scheme’s objectives will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on various factors and forces affecting capital markets. Past performance of the Sponsor/the AMC/the Mutual Fund does not indicate the future performance of the Scheme. The name of the Scheme does not in any manner indicate the quality of the Scheme, its future prospects or returns. Please read the Statement of Additional Information and Scheme Information Document carefully before investing.



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