Tech funds top returns chart

Technology funds were top performers last week, posting an average weekly return of 2.66 per cent. Banking funds fared better during the week with an average return of 1.78 per cent compared to 0.58 per cent in the previous week. Only auto funds gave negative return.

Among debt schemes, medium and long-term gilt schemes posted the highest average weekly return. In technology funds, Prudential ICICI Technology Fund fetched highest return with 4.10 per cent. DSPML Technology.com fund followed with 3.32 per cent return and UTI Software with 2.85 per cent.

Benchmark indices BSE IT and CNX IT were both up by 2 per cent. FMCG funds gave 1.41 per cent average return falling short of the BSE FMCG Index that rose 2 per cent. Prudential ICICI FMCG Fund with 2.89 per cent return was top performer in this category.

Banking funds also under-performed their benchmark CNX Bankex Index, which rose 3 per cent. UTI Banking Sector Fund was top performer with 1.84 per cent return.

Auto funds were in line with the 1 per cent fall in BSE Auto Index and gave a negative return of 0.94 per cent.

Tax planning schemes gave an average return of 1.06 per cent. Kotak Tax Saver Fund posted the highest return of 3.21 per cent in this category followed by Principal Tax Savings Fund at 2.36 per cent.

Diversified equity schemes registered 0.98 per cent average return. The top three performers in this category were Kotak Lifestyle Fund (4.26 per cent), Prudential ICICI Services Industries Fund (3.91per cent) and Franklin India Opportunities Fund (3.38 per cent).

Index funds posted 0.94 per cent average return, under-performing the Sensex and Nifty, which rose 1 per cent each.

Benchmark Mutual's exchange traded fund, Banking BeES, was the top-performing scheme with 2.54 per cent return.

Medium and long-term gilt schemes posted 0.29 per cent average return, compared to 0.08 per cent as banks bought gilts on improvement in interbank liquidity.

The 10-year benchmark 7.59 per cent, 2016 bond closed at 7.60 per cent Friday, compared to 7.6415 per cent in the previous week.

Liquid funds posted 0.13 per cent average return. LICMF Liquid Fund gave the highest return with 0.15 per cent.