Debt Schemes Outshine Equities
The third quarter ended September 2002 was a mixed bag for the mutual fund industry. While investments in the debt schemes gave handsome returns, the equity markets tested the management skills of fund managers.
A composite performance ranking (CPR) done by Crisil showed that post-merger with Pioneer ITI, the Templeton India schemes had swept the top honours. In the five categories covered by Crisil, the Franklin Templeton schemes, including the erstwhile Pioneer ITI schemes, are in the CPR-1 slab in four categories.
Reliance and Zurich India Mutual Funds, with two schemes each in the CPR-1 slab, were the other prominent performers. CPR-1 indicates