UTI Grand Master 1993, Zurich India Prudence Fund and Reliance Income Fund top Crisil's one-year risk-adjusted returns rankings (RRRs) for the year ended May 2001.
UTI Grand Master 1993 was the topper in the open-ended equity category, while UTI Unit Scheme 92 (US 92) was the top performer in the close-ended equity category.
Crisil RRRs, launched in December 2000, is a relative performance rank of mutual fund schemes in their respective peer group.
The ranking is determined on the basis of the risk-adjusted returns (average daily return/standard deviation of returns) logged by the schemes in each category.
For the year ended May 31, 2001, 119 schemes have been ranked by Crisil. These include 30 open-ended equity plans, 17 close-ended equity schemes, 15 balanced plans, 22 general debt plans, eight gilt and 11 money market schemes, 11 technology sector funds and three index funds.
Topping the one-year RRRs, among open-ended equity schemes UTI Grand Master 1993 was the topper, followed closely by Templeton India Growth Fund and Zurich India Equity Fund (growth).
In the general equity close-ended category, UTI Unit Scheme 92 has been awarded the top RRR rank on a one-year basis.
UTI's Grand Master 1993 has been awarded the top RRR rank in the open-ended equity scheme category for the second time in succession.
The other one-year RRR toppers include Reliance Income Fund-Growth among general debt schemes, DSP Merrill Lynch Government Securities Fund (Plan B)-Growth among gilt schemes, Prudential ICICI Liquid Plan-Growth among money market schemes and Sun F&C Emerging Technologies Fund-Growth among technology sector funds.
The worst performers were Birla Advantage Fund among open-ended equity schemes, SBI Magnum Tax Profit Scheme '94 among close-ended equity schemes, SBI Magnum Balanced Fund among balanced plans, LIC Mutual Bond Fund-Growth among general debt, K Gilt - Investment (growth) among gilts, UTI Money Market Fund among money market schemes and Birla IT Fund - Plan B- Growth among technology sector schemes.
