Annexure-I

Project Report

On

A comparative study of performance of top 5 mutual funds in India

Submitted in partial fulfillment of the requirements

For the award of the degree of

Bachelor of Business Administration (BBA)

To

Guru Gobind Singh Indraprastha University, Delhi

Guide: Submitted by:

Ms. Priyanka Attri Rohan Chopra
(Assistant Professor) Roll No: 42414201718

Jagannath International Management School,

Vasant Kunj New Delhi-110070

Batch (2018-2021)

1
 Annexure-II

Certificate

This is to Certify that the Project Report (BBA-311) titled “A comparative study of
performance of top 5 mutual funds in India” done by Rohan Chopra, Roll No.
42414201718, is completed under my guidance.

Signature of the Guide:

Date:

Name of the Guide: Ms. Priyanka Attri

2
 Annexure-III

Acknowledgement

I offer my sincere thanks and humble regards to Jagannath International Management School,

GGSIP University, New Delhi for imparting us very valuable professional training in BBA.

My sincere gratitude goes to my project guide Ms. Priyanka Attri without whose valued

guidance, encouragement and inspiration the presentation of this project would ever have been

possible. I also indebted to my faculty guide Ms. Priyanka Attri for giving me valuable initial

guidance for the project.

Every page of this report reminds me about the moral support and guidance that was bestowed

on me by the respect guide, professors, friends and family members throughout the duration of

the internship.

I am unable to mention many others who have helped me greatly but it gives immense

pleasure to appreciate and thanks all those without whose encouragement and help this

project would never have been completed.

3
 Annexure-IV

Table of Contents

S No Topic Page No
1 Certificate 2
2 Acknowledgements 3
3 Table of Contents 4
4 Chapter I: Introduction 5-15
 Introduction to topic
 Objectives of the study
 Review of Literature
 Research Methodology
 Limitations of the study
5 Chapter-2: Analysis and Interpretation of Data 16-24
6 Chapter-3: Conclusions and Recommendations 25-28
7 References/Bibliography 29-30
8 Annexures 31-38

4
CHAPTER 1: INTRODUCTION TO THE PROJECT

5
 Mutual funds

A mutual fund is a type of financial vehicle made up of a pool of money collected from many

investors to invest in securities like stocks, bonds, money market instruments, and other assets.

Mutual funds are operated by professional money managers, who allocate the fund's assets and

attempt to produce capital gains or income for the fund's investors. A mutual fund's portfolio

is structured and maintained to match the investment objectives stated in its prospectus.

Mutual funds give small or individual investors access to professionally managed portfolios of

equities, bonds, and other securities. Each shareholder, therefore, participates proportionally in

the gains or losses of the fund. Mutual funds invest in a vast number of securities, and

performance is usually tracked as the change in the total market cap of the fund—derived by

the aggregating performance of the underlying investments.

KEY TAKEAWAYS

 A mutual fund is a type of investment vehicle consisting of a portfolio of stocks, bonds,

or other securities. 

 Mutual funds give small or individual investors access to diversified, professionally

managed portfolios at a low price.

 Mutual funds are divided into several kinds of categories, representing the kinds of

securities they invest in, their investment objectives, and the type of returns they seek.

 Mutual funds charge annual fees (called expense ratios) and, in some cases,

commissions, which can affect their overall returns.

 The overwhelming majority of money in employer-sponsored retirement plans goes into

mutual funds.

6
 Understanding Mutual Funds

Mutual funds pool money from the investing public and use that money to buy other

securities, usually stocks and bonds. The value of the mutual fund company depends on

the performance of the securities it decides to buy. So, when you buy a unit or share of a

mutual fund, you are buying the performance of its portfolio or, more precisely, a part of

the portfolio's value. Investing in a share of a mutual fund is different from investing in

shares of stock. Unlike stock, mutual fund shares do not give its holders any voting

rights. A share of a mutual fund represents investments in many different stocks (or

other securities) instead of just one holding.

That's why the price of a mutual fund share is referred to as the net asset value

(NAV) per share, sometimes expressed as NAVPS. A fund's NAV is derived by dividing

the total value of the securities in the portfolio by the total amount of shares outstanding.

Outstanding shares are those held by all shareholders, institutional investors, and

company officers or insiders. Mutual fund shares can typically be purchased or

redeemed as needed at the fund's current NAV, which—unlike a stock price—doesn't

fluctuate during market hours, but it is settled at the end of each trading day. Ergo, the

price of a mutual fund is also updated when the NAVPS is settled.

The average mutual fund holds over a hundred different securities, which means mutual

fund shareholders gain important diversification at a low price. Consider an investor

who buys only Google stock before the company has a bad quarter. He stands to lose a

great deal of value because all of his dollars are tied to one company. On the other hand,

a different investor may buy shares of a mutual fund that happens to own some Google

stock. When Google has a bad quarter, she loses significantly less because Google is just

a small part of the fund's portfolio.

7
 How Mutual Funds Work

A mutual fund is both an investment and an actual company. This dual nature may seem

strange, but it is no different from how a share of AAPL is a representation of Apple Inc.

When an investor buys Apple stock, he is buying partial ownership of the company and its

assets. Similarly, a mutual fund investor is buying partial ownership of the mutual fund

company and its assets. The difference is that Apple is in the business of making innovative

devices and tablets, while a mutual fund company is in the business of making investments.

Investors typically earn a return from a mutual fund in three ways:

1. Income is earned from dividends on stocks and interest on bonds held in the fund's

portfolio. A fund pays out nearly all of the income it receives over the year to fund

owners in the form of a distribution. Funds often give investors a choice either to

receive a check for distributions or to reinvest the earnings and get more shares.

2. If the fund sells securities that have increased in price, the fund has a capital gain. Most

funds also pass on these gains to investors in a distribution.

3. If fund holdings increase in price but are not sold by the fund manager, the fund's shares

increase in price. You can then sell your mutual fund shares for a profit in the market.

If a mutual fund is construed as a virtual company, its CEO is the fund manager, sometimes

called its investment adviser. The fund manager is hired by a board of directors and is legally

obligated to work in the best interest of mutual fund shareholders. Most fund managers are

also owners of the fund. There are very few other employees in a mutual fund company. The

investment adviser or fund manager may employ some analysts to help pick investments or

8
perform market research. A fund accountant is kept on staff to calculate the fund's NAV, the

daily value of the portfolio that determines if share prices go up or down. Mutual funds need

to have a compliance officer or two, and probably an attorney, to keep up with government

regulations.

Most mutual funds are part of a much larger investment company; the biggest have hundreds

of separate mutual funds. Some of these fund companies are names familiar to the general

public, such as Fidelity Investments, The Vanguard Group, T. Rowe Price, and Oppenheimer.

9
 1.2 Objective of the Study

The main reasons behind studying this topic are:

(1) To study a comparative performance analysis for the selected mutual funds for five

years.

(2) To analyse the risk and returns of mutual fund schemes.

(3) To achieve a comprehensive understanding regarding the mutual fund schemes.

10
 1.3 Review of literature

A literature review is a text of a scholarly paper, which includes the current knowledge

including substantive findings, as well as theoretical and methodological contributions to a

particular topic. Literature reviews are secondary sources for a research work.

Lot of research has been done on Evaluating performance of mutual funds in foreign as well as

in India.

Bansal, Garg and Saini, (2012), inspected the exhibition of selected mutual fund schemes that

the hazard profile of the total mutual fund universe can be precisely thought about by a basic

market index that offers comparative month to month liquidity, returns, systematic and

unsystematic hazard and complete fund investigation by utilizing the unique reference of

Sharpe and Treynor's proportion.

Sharpe (1966) explains in a modern portfolio hypothesis setting that the expected return for a

proficient portfolio and its related risk (unsystematic risk) are directly related. By

consolidating different ideas he built up a Sharpe index. In this paper he endeavoured to rate

the presentation based on the ideal portfolio with the risky portfolio and a risk free asset is the

one with the best reward to-inconstancy .The unsystematic hazard is identified with specific

security because of inefficient management.

Gupta and Sehgal (1998) evaluated execution of 80 mutual fund schemes more than four

years (1992-96). The examination tried the recommendation identifying with fund

diversification, consistency of execution, parameter of execution and risk return relationship .

The investigation noticed the presence of deficient portfolio expansion and consistency in

execution among the sample schemes.

11
Treynor (1965) thought about that estimating a portfolio's return comparative with its

systematic risk is increasingly reasonable. In his endeavour he had appraised the exhibition of

mutual funds on a qualities line graphically. The more efficient risk or unpredictability a

reserve has the more risky a fund become. By incorporating assortment of concepts; he created

single line index, called Treynor index.

Roshni Jayam's (2002) study brought out that equities had a decent possibility of gratefulness

in future. The specialist was of the view that, investors ought to effectively pass judgment on

their investment objective and risk appetite picking plans, diversified equity funds were

commonly more secure than others and index funds were the best when market movements

were not sure. The researcher proposed Systematic Withdrawal Plan (SWP) with development

alternative was progressively appropriate for financial specialists needing customary cash

inflows.

Dubravo Mihaljek (2008) concentrated on specific the ramifications of policy responses. He

has recognized two significant issues: I) under estimation of the development in credit risk

arising from fast credit development, ii) Risk of a sharp slowdown or inversion in bank

intermediated capital streams.

Fama (1972) created techniques to recognize observed return because of the capacity to get the

best securities at a given degree of risk from that of expectations of value developments in the

market. He presented a multi-period model permitting assessment on a period-by-period and

on a cumulative basis. He marked that, return on a portfolio establishes of return for security

determination and return for bearing risk. His commitments joined the ideas from present day

speculations of portfolio determination and market equilibrium with progressively

conventional ideas of good portfolio management.

12
 1.4Research Methodology

The research methodology defines what the activity of research is, how to proceed, how to

measure progress, and what constitutes success. It provides us an advancement of wealth of

human knowledge, tools of the trade to carry out research, tools to look at things in life

objectively; develops a critical and scientific attitude, disciplined thinking to observe

objectively (scientific deduction and inductive thinking); skills of research particularly in the

‘age of information’.

 Every project work is based on certain methodology, which is a way to

systematically solve the problem or attain its objectives. It is a very important

guideline and lead to completion of any project work through observation, data

collection and data analysis.

The research methodology is a science that studying how research is done scientifically. It is

the way to systematically solve the research problem by logically adopting various steps. Also

it defines the way in which the data are collected in a research project.

Qualitative, quantitative and mixed-methods are different types of methodologies,

distinguished by whether they focus on words, numbers or both.

1. Quantitative Research:

Quantitative research emphasizes objective measurements and the statistical, mathematical, or

numerical analysis of data collected through polls, questionnaires, and surveys, or by

manipulating pre-existing statistical data using computational techniques. Quantitative

research focuses on gathering numerical data and generalizing it across groups of people or to

explain a particular phenomenon.

13
Some of the characteristics of quantitative research/method are:

• It is numerical, non-descriptive, applies statistics or mathematics and uses numbers.

• It is an iterative process whereby evidence is evaluated.

• The results are often presented in tables and graphs

• It is conclusive.

• It investigates the what, where and when of decision making

2. Qualitative Research:

Qualitative Research is primarily exploratory research. It is used to gain an understanding of

underlying reasons, opinions, and motivations. It provides insights into the problem or helps to

develop ideas or hypotheses for potential quantitative research. Qualitative Research is also

used to uncover trends in thought and opinions, and dive deeper into the problem.

Qualitative data collection methods vary using unstructured or semi-structured techniques.

Some common methods include focus groups (group discussions), individual interviews, and

participation/observations. The sample size is typically small, and respondents are selected to

fulfil a given quota.

14
 1.5 Limitation of Study

(1) Mutual Funds of only five years are taken into account for analysing the performance.

(2) The comparative study is restricted to the selected schemes of asset management

companies.

(3) The financial market in India is unpredictable in nature and the future aspects of the

mutual funds may vary.

(4)  The lack of information sources for the analysis part.

(5) Though I tried to collect some primary data but they were too inadequate for the

purposes of the study.

(6) Time and money are critical factors limiting this study.

(7) The data provided by the prospects may not be 100% correct as they too have their

limitations.

(8) The study is limited to selected mutual fund schemes.

15
CHAPTER-2: ANALYSIS AND INTERPRETATION OF DATA

16
Data analysis and interpretation is the process of assigning meaning to the collected

information and determining the conclusions, significance, and implications of the findings.

The steps involved in data analysis are a function of the type of information collected;

however, returning to the purpose of the assessment and the assessment questions will provide

a structure for the organization of the data and a focus for the analysis.

2.1 Performance Evaluation of Equity Funds

Year Rank
FUNDS Avera St
ge d
Retur Dv
n t
Avg. Std
2015 2016 201 201 2019 Retr .dv
7 8 n t

SBI 7.86 4.48 30.2 - 8.08 9.41 11.23 1 3

Magnum 3 3.58
Blue chip
Fund
Birla Sun
Life 0.92 6.97 30.5 - 0.68 7.37 11.98 3 2
Frontline 8 2.28
Equity
Fund

HDFC Top -6.21 7.82 31.9 0.75 3.17 7.50 13.04 2 1

200 Fund 7

Interpretation

17
Table 2.1 shows a performance of equity funds of SBI Magnum Blue chip funds, Birla

Sunlife Frontline equity fund and HDFC Top 200 Fund for the year 2015 to 2019. In 2019,

SBI Magnum blue chip fund showed a noticeable return compared to Birla Sunlife equity fund

and HDFC Top 200 fund. While comparing the average return for 5 years, SBI Magnum fund

has performed better than other two equity funds. Birla Sunlife equity fund shows a

comparatively low fluctuation as compared with SBI Magnum blue chip funds and HDFC Top

200 fund. So Birla Sunlife Frontline equity fund is best suited for investors to averse the risk.

2.2 Performance Evaluation of Index Funds

Yea Rank
r Average Std
Retur .
FUNDS
n Dv
t
.

201 Avg Std

201 2016 2017 201 9 . .dvt
5 8
Ret
n

HDFC
Inde 29.4
-3.1 3.6 5.27 7.8 8.60 11.03 1 2
x 7
Fun
d

18
ICICI
Prudenti 28.7
a - 3.33 4.32 7.2 5.67 10.97 2 3
3.65 3
l

Index
Fund

LIC
Normura 28.5
- 2.47 3.52 6.71 5.12 11.13 3 1
MF 4.11 7
Index
Fund

Interpretation

Table 2.2 shows a Performance evaluation of index funds of HDFC Index Fund, ICICI
Prudential Index Fund and LIC Normura MF Index fund from 2015 to 2019. In the year
2019, HDFC Index fund showed a high return compared to ICICI Prudential Index fund
and LIC Normura MF Index Fund. By calculating the average return for five years, ICICI
Prudential Index Fund and LIC Normura MF Index fund showed a low fluctuation as
compared to HDFC Index Fund.

2.3Performance Evaluation of Income Funds

Yea Ran
FUNDS r Aver St k

a ge d
Retu D
r v
n t
Av Std
2015 2016 201 201 2019 .
g.
7 8
Ret dv
rn t

19
Birla 4.67 14.2 2.77 5.03 8.78 7.10 4.06 2 3
Sunlif 4
e
Incom
e
Plus Fund

HDFC 5.4 14.3 1.3 3.5 7.36 6.39 4.46 3 1

Income 7
Fund

ICICI 5.12 15.6 4.12 6.71 10.0 8.32 4.16 1 2

Prudential 1 4
Income
Fund

Interpretation

Table 2.3 shows a performance of income funds of Birla Sunlife Income plus funds, HDFC
Income Fund and ICICI Prudential Income Fund for the year 2015 to 2019. ICICI
Prudential Income Fund shows high fluctuation in the year 2019, when compared to HDFC
Income Fund and Birla Sunlife Income Fund. In calculating the average return, ICICI
Prudential Income Fund shows the higher return. HDFC Income Fund shows the lowest
fluctuation. So HDFC Income Fund suits best for investors to averse the risk in the market.

2.4Performance Evaluation Of Balanced Fund

20
 Yea Ran
FUNDS r Aver St k

a ge d
Retu d
r v
n t
Av Std
2015 2016 201 201 2019 .
g.
7 8 dv
Ret
rn t

Tata 6.76 3.7 19.4 - 3.48 6.26 7.16 3 3

Balance 1 2.0
d Fund 7

HDFC -0.12 8.71 27.8 - 2.24 7.17 11.03 1 2

Prude 8 2.8
nt
5
Fund

Reliance 8.26 3.89 29.5 - - 7.08 12.06 2 1

RSF 3 4.36 1.9
Balanced 2
Fund

Interpretation

Table 2.4 shows the performance of balanced fund of Tata Balanced fund, HDFC Prudent
fund and Reliance RSF balanced fund for the year 2015 to 2019.Tata Balanced fund
showed a high fluctuation rate in the year 2019. When compared to HDFC Prudent fund
and Reliance RSF balanced fund, Tata balanced fund shows a lowest rate of return in 2019.
The standard deviation of Reliance RSF Balanced has a highest fluctuation rate.

2.5Performance Evaluation of Liquid Fund

21
 Yea Ran
FUNDS r Aver St k

a ge d
Retu d
r v
n t
Av Std
2015 2016 201 201 2019 .
g.
7 8 dv
Ret
rn t

Birla 8.38 7.76 6.73 7.49 5.69 7.21 0.92 1 2

Sunlife
Cash
Plus

BNP 8.13 7.49 6.54 7.28 5.55 7.00 0.88 2 3

Paridas
Overnight
Fund

Reliance 7.62 6.79 5.78 7.3 - 5.38 3.05 3 1

Liquid 0.6
Fund Cash 1
Plan

22
Interpretation

Table 2.5 shows a performance of liquid funds of Birla Sunlife Cash plus fund, BNP
Paridas Overnight Fund and Reliance liquid fund cash plan for the year 2015 to 2019. In
2019 none of the funds gave a noticeable return due to the high market slowdown. While
comparing the average return, Birla Sunlife shows a highest return in a slight difference
when compared to BNP Paridas Overnight Fund. Thus Reliance Liquid Fund Cash plan has
a lowest fluctuation rate compared to Birla Sunlife Cash plus fund and BNP Paridas
Overnight Fund.

2.6Performance Evaluation of Glit Fund

Yea Ran
FUNDS r Aver St k

a ge d
Retu d
r v
n t
Av Std
2015 2016 201 201 2019 .
g.
7 8
Ret dv
rn t

IDFC G – 5.99 13.6 3.12 7.73 11.9 8.49 3.85 3 3

SEC Fund 5 5

SBI 7.51 16.1 3.87 5.07 11.5 8.82 4.49 2 1

Magnum 2 4
Glit

LTP Fund

23
 Birla 5.93 16.6 4.45 6.84 10.4 8.86 4.36 1 2
Sunlife G 4 3
–
SEC
Fund

Interpretation

Table 2.6 shows a performance evaluation of glit funds of IDFC G-SEC fund, SBI
Magnum Glit LTP Fund and Birla Sunlife G-SEC Fund for the year 2015 to 2019. In 2019
there are no greater differences in IDFC G- SEC Fund, SBI Magnum Glit LTP Fund and
Birla Sunlife G-SEC Fund. The average return for five years also states that the funds has
the lowest fluctuation rate, Birla Sunlife G-SEC Fund has the slightest higher fluctuation
rate. In Standard Deviation calculation, SBI Magnum Glit LTP Fund has showed a higher
fluctuation rate.

RANKING OF FUNDS BASED ON AVERAGE RETURN AND ITS STANDARD

DEVIATION

S.NO CATEGOR FUNDS AVERAG OVERAL STD.DV OVERAL

Y E L RANK N L RANK
RETURN
(in
percent)
Equity Funds SBI 9.41 1 11.23 4
1.
Magnum blue
chip fund
Birla Sun
2. Equity Funds Life Front 7.37 8 11.98 3
line
Equity fund
3. Equity Funds HDFC Top 7.50 7 13.04 1
200
Fund
4. Index Funds HDFC Index 8.60 6 11.03 6
Fund
ICICI
Index Funds 5.67 17 10.97 8
24
 5. Prudentia
l Index
Fund
6.
Index Funds LIC Normura 5.12 18 11.13 5
MF Index
Fund
Birla Sunlife
7. Income Income Plus 7.10 11 4.06 14
Funds Fund
Income HDFC Income 6.39 14 4.46 11
8. Fund
Funds
ICICI
9. Income Prudential 8.32 5 4.16 13
Funds Income
Fund
Balanced
Tata 6.26 15 7.16 9
10. Fund Balanced
Fund
Balanced
HDFC 7.17 10 11.03 7
11. Fund Prudent Fund
Balanced
Reliance RSF 7.08 12 12.06 2
12. Fund Balanced
Fund
Birla Sunlife
13. Liquid Fund Fund Plus 7.21 9 0.92 17
Fund
BNP Paridas
14. Liquid Fund Overnight 7.00 13 0.88 18
Fund
15. Liquid Fund Reliance 5.38 16 3.05 16
Liquid
Fund Cash
Plan
IDFC-G Sec
16. Glit Fund Fund
8.49 4 3.85 15
SBI
17. Glit Fund 8.82 3 4.49 10
Magnum
Glit LTP Fund
Birla Sunlife
18. Glit Fund G-
8.86 2 4.36 12
Sec Fund
Interpretation

From the ranking method, it is analyzed that SBI Magnum Blue Chip equity fund stood first
rank with 9.41 percentage of average return and it is followed by Birla G-Sec Glit fund with
8.86 percentage of return, LIC Normura MF Index Fund stood last rank with 5.12 percentage

25
of average return. In Standard Deviation, HDFC Top 200 equity fund secured first rank with
13.04 percentages, followed by Reliance RSF balanced fund with 12.06 percentages. BNP
Paridas Overnight fund secured last rank with 0.88 percentage of standard deviation.

CHAPTER 3: CONCLUSION AND RECOMMENDATION

26
 Conclusion

This study evaluates the performance of different categories of mutual fund and the nature of

market and the best mutual fund from the selected funds. The study is relevant in today’s

financial market and will form the basis for the performance evaluation of mutual funds in

future also. The performances of mutual funds are measured by different performance

evaluation technique like Average method, Standard deviation, Comparative analysis and

Ranking method.

This study helped the investigator in understanding the different categories of mutual fund,

the nature of the market, and the best performing mutual fund from a selected pool of

mutual fund.

This enabled the researcher in suggesting the retail investor the best mutual fund company to

invest his or her money. The study is very relevant in today’s financial market context and will

form basis for the performance evaluation of the mutual funds in future also.

The performance of mutual fund are measured by different performance evaluation technique

like Ranking, Average Return, Standard Deviation, Sharpe Ratio and outcome from an

evaluation will let the investor to invest in to the right categories of mutual fund.

27
 FINDINGS & SUGGESTIONS

From the ranking method, it is analyzed that SBI Magnum Blue Chip equity fund stood first

rank with 9.41 percentage of average return and it is followed by Birla G-Sec Glit fund with

8.86 percentage of return, LIC Normura MF Index Fund stood last rank with 5.12 percentage

of average return. In Standard Deviation, HDFC Top 200 equity fund secured first rank with

13.04 overnight fund secured last rank with 0.88 percentage of standard deviation.

It is not advisable to invest in equity fund category as the market undergoing fluctuations asset

component are subject to high risk. Debt and liquid funds offered decent returns than the

equity and index funds in 2019. It is suggested that investment in the debt and liquid funds

will fetch fair returns in the forthcoming year also.

Debt returns are low, barely matching or only slightly exceeding the rate of inflation. Equity

returns have the potential of being much higher but can be volatile. However, the volatility of

equity is a relatively short-term phenomenon. For periods exceeding three to five years, equity

investments are extremely likely to give strong positive returns. This is especially true if stick

to a broad selection of the relatively large-cap companies and if you invest gradually, as in

through an SIP. Speaking in terms of risk, this means that instead of saying that equity has

higher risk, we should actually be saying that equity's risk drops over time and at a long

enough timescale, the returns to-risk ratio becomes far more attractive than debt. And there's

28
the point about how all this fits into your targeted investment goals. The formula is simple

debt for the short-term, and equity for the long-term.

Managing director, Vivek Kudva India and central and Eastern Europe, Middle East and

Africa, Franklin Templeton Investments is of the opinion that There has been a substantial

increase in interest for fixed income mutual funds (especially among high net worth

individuals)a reflection of the growing awareness of the category. Over the last year or so,

corporate bond funds focused on high coupons had seen increased flows. In recent months,

there has been a shift in favour of long bond funds with relatively higher maturities (both gilts

and corporate bonds), as investors were looking to take advantage of the expected fall in

interest rates. On the equity side, sharp rallies have resulted in profit booking in equity funds

while periods of market corrections have seen positive net flows.

29
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Annexures

32
 2.1 Performance Evaluation of Equity Funds

Year Rank
FUNDS Avera St
ge d
Retur Dv
n t
Avg. Std
2015 2 201 201 2019 Retr .dv
0
7 8 n t
1
6

SBI 7.86 4 30.2 - 8.08 9.41 1 1 3

. 1
Magnum 3 3.58
4 .
Blue chip 8 2
3
Fund
Birla Sun
Life 0.92 6 30.5 - 0.68 7.37 1 3 2
. 1
Frontline 8 2.28
9 .
Equity 7 9
8
Fund

HDFC Top -6.21 7 31.9 0.75 3.17 7.50 1 2 1

200 Fund . 7 3
8 .
2 0
4

33
 2.2 Performance Evaluation of Index Funds

Yea Rank
r Average Std
Retur .
FUNDS
n
Dv
t
.

201 Avg Std

201 2016 2017 201 .dvt
9 .
5 8
Ret
n

HDFC
Inde 29.4
-3.1 3.6 5.27 7.8 8.60 11.03 1 2
x 7
Fun
d

ICICI
Prudenti 28.7
a - 3.33 4.32 7.2 5.67 10.97 2 3
3.65 3
l

Index
Fund

LIC
Normura 28.5
- 2.47 3.52 6.71 5.12 11.13 3 1
MF 4.11 7
Index

34
Fund

2.3Performance Evaluation of Income Funds

Yea Ran
FUNDS r Aver St k

a ge d
Retu D
r v
n t
Av Std
2015 2016 201 201 2019 .
g.
7 8 dv
Ret
t
rn

Birla 4.67 14.2 2.77 5.03 8.78 7.10 4.06 2 3

Sunlif 4
e
Incom
e
Plus Fund

HDFC 5.4 14.3 1.3 3.5 7.36 6.39 4.46 3 1

Income 7
Fund

ICICI 5.12 15.6 4.12 6.71 10.0 8.32 4.16 1 2

Prudential 1 4
Income
Fund

35
 2.4Performance Evaluation Of Balanced Fund

Yea Ran
FUNDS r Aver St k

a ge d
Retu d
r v
n t
Av Std
2015 2016 201 201 2019 .
g.
7 8
Ret dv
rn t

Tata 6.76 3.7 19.4 - 3.48 6.26 7.16 3 3

Balance 1 2.0
d Fund 7

HDFC -0.12 8.71 27.8 - 2.24 7.17 11.03 1 2

Prude 8 2.8
nt 5
Fund

Reliance 8.26 3.89 29.5 - - 7.08 12.06 2 1

3 4.36
RSF 1.9
Balanced 2
Fund

36
 2.5Performance Evaluation of Liquid Fund

Yea Ran
FUNDS r Aver St k

a ge d
Retu d
r v
n t
Av Std
2015 2 201 201 2019 .
g.
0 7 8
1 Ret dv
6 t
rn

Birla 8.38 7 6 7.49 5.69 7.21 0.92 1 2

Sunlife . .
7 7
Cash
6 3
Plus

BNP 8.13 7 6 7.28 5.55 7.00 0.88 2 3

. .
Paridas
4 5
Overnight 9 4
Fund

37
Reliance 7.62 6 5 7.3 - 5.38 3.05 3 1
Liquid . .
0.6
7 7
Fund Cash
9 8 1
Plan

2.6Performance Evaluation of Glit Fund

Yea Ran
FUNDS r Aver St k

a ge d
Retu d
r v
n t
Av Std
2015 2016 201 201 2019 .
g.
7 8 dv
Ret
t
rn

IDFC G – 5.99 13.6 3 7 11.9 8.49 3.85 3 3

SEC Fund 5 . . 5
1 7
2 3

SBI 7.51 16.1 3 5 11.5 8.82 4.49 2 1

Magnum . . 4
2
Glit 8 0
7 7
LTP Fund
38
Birla 5.93 16.6 4 6 10.4 8.86 4.36 1 2
4 . . 3
Sunlife G
4 8
– 5 4
SEC
Fund

RANKING OF FUNDS BASED ON AVERAGE RETURN AND ITS

STANDARD DEVIATION

S.NO CATEGOR FUNDS AVERAG OVERAL STD.DV OVERAL

Y E L RANK N L RANK
RETURN
(in
percent)
Equity Funds SBI 9.41 1 11.23 4
1.
Magnum blue
chip fund
Birla Sun
2. Equity Funds Life Front 7.37 8 11.98 3
line
Equity fund
3. Equity Funds HDFC Top 7.50 7 13.04 1
200
Fund
4. Index Funds HDFC Index 8.60 6 11.03 6
Fund

39
 ICICI
5. Index Funds Prudentia 5.67 17 10.97 8
l Index
Fund
6.
Index Funds LIC Normura 5.12 18 11.13 5
MF Index
Fund
Birla Sunlife
7. Income Income Plus 7.10 11 4.06 14
Funds Fund
Income HDFC Income 6.39 14 4.46 11
8. Fund
Funds
ICICI
9. Income Prudential 8.32 5 4.16 13
Funds Income
Fund
Balanced
Tata 6.26 15 7.16 9
10. Fund Balanced
Fund
Balanced
HDFC 7.17 10 11.03 7
11. Fund Prudent Fund
Balanced
Reliance RSF 7.08 12 12.06 2
12. Fund Balanced
Fund
13. Liquid Fund Birla Sunlife 7.21 9 0.92 17
Fund Plus
Fund
14. Liquid Fund BNP Paridas 7.00 13 0.88 18
Overnight
Fund
15. Liquid Fund Reliance 5.38 16 3.05 16
Liquid
Fund Cash
Plan
Glit Fund IDFC-G Sec 8.49 4 3.85 15
16. Fund
Glit Fund SBI 8.82 3 4.49 10
17.
Magnum
Glit LTP Fund
Glit Fund Birla Sunlife 8.86 2 4.36 12
18. G-
Sec Fund

40