Equity funds find the going tough third week in a row

Equity funds

Debt funds

1 week

1 yr

1 week

1 yr

FMCG

-3.05

73.00

Gilt - long term

0.19

5.33

Tax Planning

-3.56

52.51

Medium term funds

0.13

5.83

Pharma

-3.58

20.20

Short term funds

0.11

5.89

Petroleum

-3.59

10.46

Floating rate funds

0.10

5.62

Diversified

-3.61

45.61

Liquid funds

0.10

5.35

Auto

-3.78

44.74

Income funds

0.10

4.64

Banking

-4.51

60.41

Gilt - short term

0.10

4.40

Technology

-4.69

32.26

Monthly Income plans

-0.53

9.39

Index

-4.92

32.35

Source: www.mutualfundsindia.com

 The category average for the past 12-month period amounted to 73 per cent. To give a better perspective of how much equity funds have fallen, FMCG funds returned 88.02 per cent on an annual basis for the week ended October 7, during which Sensex had climbed to its all-time high levels. Diversified fund returns which amounted to 59 per cent for that week, has now come down to 45.61 per cent.  Banking sector funds (60.41 per cent) and tax planning funds (52.51 per cent) were the next best performers on an annual basis. Petroleum sector funds (10.46 per cent) continued to linger at the bottom of the pile, preceded by pharma funds (20.20 per cent).

 Despite the falling return, fund managers are unperturbed about the downtrend. According to many, the current correction could be on its last legs. According to Sandeep Neema, fund manager at JM Financial Mutual Fund, the markets could witness a period of consolidation before the next upmove.