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Small and Mid-cap funds underperform FEFI in February 2010
March 5, 2010

The Fundsupermart All-Equity Fund Index February 2010 Update


Author : iFAST Research Team



Untitled Document

FEFI Performance UPDate

The second month of the year started on a positive note with the FEFI going up in the first three days and reaching the month’s high of 1795 points but in a matter of just two days, FEFI fell to the month’s low of 1729 points. As on 28 February 2010, the FEFI closed at 1745.48 points, registering a 1% loss. In February, the SENSEX, NIFTY and BSE 500 indices gained by 0.4%, 0.8% and 0.1% respectively; however, the CNX 500 index registered a decline of 0.7%. Thus, the performance of equity fund managers was slightly sluggish this month as FEFI underperformed as compared to the market indices.

The union budget was presented on 26 February 2010, which also happened to be the last trading day of the month. The effect of the changes announced in the budget on the markets will only be seen in the month of March.

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Chart 1: FEFI Performance for 2010


Table 1: FEFI Index levels

FEFI

Year-to-date (%)

Month-to-date (%)

31 December 2009

1831.56

-

-

31 January 2010

1763.09

-

-3.7%

28 February 2010

1745.48

-4.7%

-1.0%

Table 2: Top 5 Equity funds on our platform in February

 

Sector

YTD Returns

MTD Returns

BSL COMMODITIES EQUITIES FUND GLOBAL MULTI COMMODITY PLAN- GROWTH

Global

-4.3%

3.5%

UTI MNC FUND- GROWTH

Diversified

-1.7%

3.3%

BSL MNC FUND- GROWTH

Speciality

0.7%

2.5%

ICICI PRUDENTIAL TECHNOLOGY FUND- GROWTH

Technology

-0.4%

2.5%

ICICI PRUDENTIAL BANKING & FINANCIAL SERVICES FUND- GROWTH

Banking

-1.9%

2.4%

The top 5 funds for February are a mixed bag with funds from five different sectors being featured in the list. Most of the top 5 funds for February have given negative returns since the beginning of the year, except for Birla Sun Life MNC Fund which has given positive YTD returns. Also, the funds from Birla Sun Life and ICICI Prudential fund houses have taken four of the five positions.

 

 Table 3: Bottom 5 Equity funds on our platform in February

Sector

YTD Returns

MTD Returns

JM SMALL & MIDCAP FUND REGULAR PLAN- GROWTH

Mid Cap & Small Cap

-7.7%

-4.2%

JM Basic Fund - Growth

Speciality

-10.4%

-4.2%

SBI MAGNUM MIDCAP FUND- GROWTH

Mid Cap & Small Cap

-4.9%

-4.6%

RELIANCE MEDIA & ENTERTAINMENT FUND GROWTH PLAN- GROWTH

Speciality

-7.8%

-4.8%

JM TELECOM SECTOR FUND- GROWTH

Speciality

-8.0%

-5.2%

Three funds from JM Financial mutual fund have placed in the bottom 5 performing funds for February.  The funds focused on mid-caps and small-caps have also performed poorly in February along with a few sectoral funds.

Related Articles
FEFI falls 3.7% in January 2010
FSM All-Equity Fund Index (FEFI) rises 83% in 2009
FEFI rises again after a blip in October
FEFI Update - October
FEFI index methodology.

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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 offer document/scheme additional information/scheme information document. 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 in the website.

 


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