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The listing gives you information on the performance of about 180 mutual fund schemes based on investment category they belong to and with a corpus of over Rs 400 crore. For the full list of over 650 schemes, visit http://www.business-standard.com/content/general_pdf/fund-directory2011.xls. Returns (adjusted for payouts where applicable) and net asset values (NAV) are for the period ended March 31, 2011. Data has been sourced from www.mutualfundsindia.com.
Equity fund returns for periods below one year have been calculated in absolute terms, while for periods above one year they have been computed on a compounded annualised basis. The same applies to balanced funds. Returns for short-term and long-term debt funds are simple annualised for period of less than one year, and compounded annualised for period of more than one year.
The fund ranking is done separately for the various categories and not across categories. Expense ratios and latest corpus figures are based on the published figures provided by asset management companies (AMCs). Category averages are simple mean.
The Fund Managers of the Year have been selected based on risk-adjusted returns, which is the return per unit of risk for the schemes for the 12 months ended March 31, 2011. For equity funds, only open-ended diversified funds, whether large-cap or mid-cap, were considered. Sector or theme funds were not eligible. The daily returns on the NAV and a risk-free return of 7 per cent were used for the purpose of calculation of the Sharpe ratio. For the debt funds, the ultra short-term and liquid schemes were not eligible for the ranking, whereas the risk-free return was taken as zero.
| THE TOP PERFORMERS 1-yr returns as on Mar 31, 2011 | |
| Equity Diversified | (%) |
| HDFC Equity Fund | 19.89 |
| Reliance Quant Plus Fund - Ret | 19.70 |
| ICICI Prudential Focused Bluechip Equity Fund - Ret | 19.15 |
| Quantum Long-Term Equity Fund | 19.03 |
| Escorts High Yield Equity Plan | 19.03 |
| Sector funds | |
| Reliance Banking Fund | 37.63 |
| ICICI Prudential Technology Fund | 30.86 |
| Sundaram Financial Services Opportunities Fund - Ret | 27.62 |
| UTI Banking Sector Fund | 27.34 |
| Sahara Banking and Financial Services Fund | 25.13 |
| Balanced Funds | |
| HDFC Prudence Fund | 17.50 |
| HDFC Balanced Fund | 16.17 |
| Baroda Pioneer Balance Fund | 14.57 |
| Birla Sun Life 95 | 13.22 |
| ICICI Prudential Balanced | 12.16 |
| Debt Long Term | |
| Baroda Pioneer Income Fund | 7.74 |
| ICICI Prudential Banking & PSU Debt Fund - Prem Plus | 7.19 |
| JPMorgan India Active Bond Fund - Ret | 7.15 |
| DWS Premier Bond Fund - Regular Plan | 7.07 |
| Birla Sun Life Medium Term Plan - Ret | 6.71 |
Moreover, the fund manager should have managed the scheme for at least the one year to be eligible for the award. To ensure that no fund manager emerged as a winner merely based on the performance of a particular scheme managed by him/her, the concept of ‘Adjusted Sharpe Ratio’ was adopted. Here, a composite score was ascertained for each fund manager comprising the weighted average of the Sharpe ratio achieved by each scheme managed by him/her. The average one year corpus of each scheme managed was used as weights to arrive at his/her score.
Prashant Jain of HDFC Mutual Fund and Chaitanya Pande of ICICI Prudential Mutual Fund are the winners in the equity and debt categories, respectively.
