The Hindu Business Line : ICRA to announce MF awards today

ICRA ONLINE Mutual Fund Ranks would be announcing the winners of its mutual fund awards for the year on Monday. ICRA awards MFs based on their performance across 12 different categories. This is the second year of ICRA awards.

The schemes are ranked using the methodology developed jointly by ICRA Ltd and ICRA Online Ltd. For an MF scheme to be eligible for the ICRA Online MF Ranking it must have declared its net asset values (NAVs) for one and three years (depending on the ranking horizon) and made full portfolio disclosure (monthly and quarterly) during the ranking horizon. The size of the fund should be larger than 5 per cent of the category's assets under management, and there should be at least five eligible schemes in the category.

Only growth options of open-ended MF schemes are considered for ranking.

Currently, the ICRA Online MF Ranks are assigned in 12 different categories, including liquid, debt - short term and long term, gilt - short term and long term, diversified equity - defensive and aggressive, index and equity-linked savings schemes.

For the purpose of ranking, the MF schemes are classified on the basis of their investment style over the ranking periods of one and three years, rather than the objective stated in their prospectus. The ranks are a result of an in-depth analysis of certain critical parameters, including risk adjusted return, portfolio concentration characteristics, liquidity, corpus size, average maturity and portfolio turnover.

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