On an average, the net asset value (NAV) of 49 equity schemes of 18 mutual funds increased by 0.42% to Rs 22.43 on February 23 from Rs 22.34 on January 3. The NAV of 25 debt schemes of five MFs increased by 0.53% to Rs 11.35 from Rs 11.30.
Among equity funds, HDFC MF is numero uno in terms of NAV, though it maintained its number one rank in both time periods, its NAV has increased by 2% to Rs 45.33 from Rs 44.44 during the study period.
Some MFs showed less than 1% increase in their NAV. For instance, Birla Sun Life MF posted 0.16% and Principal MF recorded 0.17% NAV. The top three MFs in terms of equity fund NAVs in descending order on February 23 are HDFC MF (Rs 45.33), Alliance Capital MF (Rs 40.53) and Birla Sun Life MF (Rs 36.54).
Out of 18 MFs, seven showed a decline in NAV during the study period. These include Deutsche MF (-4.5%), LIC MF (-3.7%), Alliance Capital MF (-1.9%) and ING Vysya MF (-1.6%). The average NAV of LIC MF declined from Rs 12.8 on January 3 to Rs 12.3 on February 23.
In debt funds, Kotak Mahindra MF showed the highest return of 0.9% during the period. Only Sundaram MF, with 11 debt schemes, showed a negative return of 0.53% on February 23. Tata MF improved its average NAV from Rs 19.89 to Rs 20.39 during the period.
Our growth has been primarily on the basis of an increase in retail investor base over the last year as a large number of retail investors from across the country have joined our fund family. Overwhelming response to our new product launches as well as a superior performance track record in our existing schemes have attracted retail investors in large numbers to our fund house, said Ved Prakash Chaturvedi, MD, Tata MF.
Similarly, JM MF improved its NAV from Rs 16.9 to Rs 17.31 during the study period. ABN Amro MFs average NAV of two schemes rose by 2.17% to Rs 13.21 on February 23 from January 3.