Market boom delivers a huge boost to returns of special situation funds

Boost in special situation funds: The strategy adopted by these funds isn't strictly contrarian; the fund manager will also look for triggers or opportunities that could make certain stocks attractive

The surge in the market this year has propelled the returns for special situation funds that look to capitalise on the opportunities arising out of market dislocations.

ICICI Prudential India Opportunities Fund has given returns of 105 per cent in the past one year against S&P BSE 500 total returns of 61 per cent, shows the data from Value Research.

The other two funds in this category--Aditya Birla Sun Life Special Opportunities Fund and Axis Special Situation Fund have given returns of 34 per cent and 32 per cent, respectively, in the last six months. Both these funds are yet