Business Daily from THE HINDU group of publications
Tuesday, Oct 23, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Oct 23, 2007 ePaper | Mobile/PDA Version |
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Mutual Funds Markets - Performance 
Our Bureau Kolkata, Oct. 22 Gold was indeed a noble metal for investors in the last few days, considering the startling returns that gold exchange traded funds raked in for the one-week period ended October 19. In a period marked by extreme volatility in the stock market, reflected in the negative performance recorded by all manners of equity funds, gold ETFs topped the performance charts with 3.77 per cent. While equity funds turned in negative scores all the way, technology funds, which lead all other categories of equity funds, delivered a negative 1.14 per cent, beating diversified funds that gave an average 4.42 per cent. As figures released by Value Research indicate, a range of debt funds – mostly short-term in character – beat their equity counterparts during the period under consideration. The picture, nevertheless, was very different even a month ago, when index funds topped the list with over 8 per cent, followed by diversified funds that dished out an average 4.9 per cent. The stock market tumbled during the week ended October 19, a trend demonstrated by a marked decline in the indices. Both the Sensex and the Nifty have, for instance, closed perceptively down from their earlier high. The past few days have been somewhat positive for certain categories of shorter term debt funds, it may be mentioned. For the period ended October 12, the one-month scores are mostly in the 0.4-0.6 per cent range. Among the funds that have done relatively better are HDFC Floating Rate Income ST (0.67 per cent), Magnum Floating Rate (0.69 per cent) and UTI Floating Rate ST (0.72 per cent). More Stories on : Mutual Funds | Performance | Gold & Silver
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