According to a statement from the Canbank asset management company, despite significant decline in the stock market indices, all the 15 schemes of Canbank have performed better than the Sensex and except for Canpep '95, all others have performed better than the broad based S&P CNX 500 index.

``This has been made possible due to major restructuring exercise undertaken by the fund since June 1997 to make the portfolios more market responsive by reducing the number of scrips in the portfolio and further, by investing in liquid, growth stocks,'' says the statement from Canbank mutual fund.

As a result of restructuring, the top 100 scrips account for 95 per cent of the market value of securities. ``During the period April-September, 1998, the capital marketwitnessed major upheavals. The Sensex declined by as much as 20.3 per cent while the broad based SNP CNX 500 declined by 12.94 per cent,'' says the release.

Among the pure growth schemes, Canexpo scheme has registered a growth of 5.59 per cent and Canpremium has registered a growth of 4.46 per cent. Also during the half year period, Canbonus started offering repurchase to investors from August 3.

The fund also declared an income of 6.25 per cent for Cancigo and 6.125 per cent for Cangilt for the half year ended September 30. The Canpremium scheme which was converted to an open-end scheme from February 1998, has declared a 6.5 per cent interim income.