Foreign fund houses may not be anywhere close to the top five domestic giants, but when it comes to performance in the equity segment, they have dominated the fund industry.
Goldman Sachs CNX Nifty Shariah BeES has been the top best equity fund in the industry over the last one year. The scheme has given a return of little less than 15% during the period.
India-China Consumption fund from Mirae Asset Mutual Fund and BNP Paribas Equity fund are the other two schemes from foreign fund houses which have given double digit returns of around 10.5% each.
The other two among the top five are Religare Invesco Equity fund and Axis Equity Fund which have returned 13.37% and 11.6%, respectively. Though these are domestic players, both have foreign JV partners. Religare brought Invesco by selling 49% of its stake while Axis has its JV with UK's Schroders.
Beyond these top performing equity schemes, only one could manage to remain in the double-digit arena; that is the Tata Ethical Plan A. All the others could make only single digit returns for their investors over the last one year.
According to data available from fund tracker Value Research Online, out of 243 equity schemes, only 6 could generate double digit returns for investors.
