An analysis of 35 schemes dedicated to different diversified equity funds shows an average positive return of 3.03 per cent between January 1 and September 26, 2002.
Among these funds, Zurich India Capital Builder-G leads the pack with the highest positive return of 34.09 per cent during the study period. The funds net asset value increased from Rs 7.89 on January 1, 2002 to Rs 10.58 on September 26, 2002. IDBI-Principal-Tax Saving Fund comes second with a positive return of 18.81 per cent as its NAV rose from Rs 10.95 to Rs 13.01. Next was Zurich Top 200 Fund-G and Zurich India Equity Fund-G ,which registered positive returns of 11.86 and 10.88 per cent respectively.
While the IDBI-Principal Equity Fund-Gs NAV increased from Rs 7.83 to Rs 9.63.The HDFC Growth Fund schemess NAV rising from Rs 7.16 on January 1, 2002 to Rs 7.89 on September 26, 2002, registering a positive return of 10.20 per cent.
The top five in terms of NAV on September 26, 2002 are Alliance Equity Fund-G (Rs 23.90), Birla Advantage Fund-G (Rs 23.02), Zurich India Equity Fund-G (Rs 20.18), Prudential ICICI Growth Plan-GO (Rs 17.22) and Zurich Top 200 Fund-G (Rs 15.18).
Among them, highest increase in NAV was observed in the case of Zurich Top 200 Fund-G.
Out of 35 Diversified Equity Funds schemes, thirteen schemes NAV declined during the study period. Significant among them are Cholamandalam Growth Fund-Regular (-13.44 per cent), ING Growth Portfolio-D (-9.18 per cent), Prudential ICICI Growth Plan-DO (-9.02 per cent), ING Growth Portfolio-G (-8.97 per cent), Alliance Equity Fund-D (-4.82 per cent) and DSP Merrill Lynch Equity Fund (-3.84 per cent).
Less than one per cent increase in NAV during the study period was noticed in the case of Zurich Top 200 Fund-D (0.98 per cent), Zurich India Equity Fund-D (0.73 per cent) and JM Equity Fund-D (0.14 per cent).
The highest and lowest NAV of diversified equity funds schemes were Alliance Equity Fund-G and ING Growth Portfolio-D respectively on Sept 26, 2002.