The Hindu Business Line : Volatility impacts funds returns in Jan: Crisil

VOLATILITY in the stock markets in January has affected returns of equity funds, while debt funds have been stable, according to CRISIL FundServices' monthly Risk-Adjusted Return Rankings of mutual fund schemes for January 2005.

The general equity category ended the month in negative territory on account of the correction and volatility in the equity market. The CRISIL FundeX generated a negative monthly return of 1.67 per cent, according to a CRISIL press release.

The ongoing mid-cap rally, however, continued to spur the returns of schemes with a relatively higher proportion invested in mid-cap stocks. Reliance Growth Fund occupies the top slot for January 2005. Sundaram Select Midcap and Franklin India Prima Fund are at the second and third positions, respectively, the release said.

In the software sector, Birla India Opportunities Fund - Plan B continues to reign. DSP Merrill Lynch Technology Fund and Alliance New Millennium Fund have interchanged their ranks relative to December 2004, and are currently in the second and third places, the release added.

The Income category was volatile but attained stability during the latter half of the month and ended in positive territory. The CRISIL FunddX generated annualised monthly returns of 4.42 per cent in January 2005. Cancigo, Can Income and HSBC Income Fund were the top rankers in the segment.

The CRISIL MIPEX, the benchmark for MIP schemes, generated annualised monthly returns of 1.89 per cent buoyed by the stability in the debt markets. In the Monthly Income Plan (MIP) category, the top performers were FT India Monthly Income Plan, DSP Merrill Lynch Savings Plus Fund - Moderate and Prudential ICICI MIP Plan - Cumulative, according to the release.

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