Nine MFs post 100% returns

Nine equity schemes "" four from SBI mutual fund, two from Prudential ICICI and one each from Reliance mutual fund, Kotak mutual fund and Sundaram mutual fund "" top the mutual funds gainers list with over 100 per cent returns in the financial year ended March 2006.

The net assets value (NAV) for the study was sourced from the website of Value Research India.

A Business Standard Research Bureau (BSRB) study, based on 214 mutual funds schemes, shows that almost 90 per cent schemes have posted a minimum of 50 per cent return.

The maximum return was as high as 118.5 per cent in the last one year. Among 214 schemes, nine schemes have posted annual returns of over 100 per cent each, 16 gained between 90 per cent and 100 per cent each and 54 schemes gained between 75 and 90 per cent each.

The mutual funds annual returns data, sourced from Value Research India, show that 90 equity funds have outperformed the BSE Sensex growth.

The Sensex level at 11279.96 on March 31, 2005 was up 73.73 per cent in the last one year. The study shows only pharma and IT funds have outperformed peer indices while auto, banking, FMCG and index funds underperformed peer group indices.

Among the fund categories, FMCG, diversified and tax planning schemes top the list with annual returns of over 75 per cent each. The FMCG sector fund posted an average return of 88.75 per cent, diversified 75.84 per cent and tax planning 75.76 per cent.

Among others, auto funds, index funds and special fund (over 64 per cent each) and pharma and technology (over 60 per cent each) posted healthy returns. Banking sector fund remained the lame duck with an annual return of 25.18 per cent.

A total of 18 schemes posted annual returns below 50 per cent. In this lot, four are from UTI mutual fund, two each from LIC mutual fund, Prudential ICICI, Principal mutual fund and Reliance mutual fund and one each from Birla mutual fund, Chola mutual fund, HDFC mutual fund, Kotak mutual fund and Taurus mutual fund.

Tata mutual, SBI mutual fund and Canbank mutual fund have done well with all their funds posting annual returns of over 100 per cent.