The 30-share sensitive index, Sensex, might have kissed the psychological peak of 15K last week, but returns from equity mutual fund (MF) schemes have outperformed Sensex returns in June and in the first week of July.
According to data available from Value Research, returns from equity-diversified schemes have outperformed the Sensex. While equity-diversified schemes have grown between 7% and 10% in the last one month, the Sensex posted a return of 4.97% during the same period, or went up 708.19 points.
Similarly, the returns during the last week from June 29 to July 6, when the Sensex went up 313.61 points, or 2.14%, equity-diversified schemes posted returns between 5.07% and 3.96%.
The return from JM Basic scheme from JM MF, which has an asset under management (AUM) of Rs 150.63 crore, has outperformed the Sensex quite considerably. This scheme has posted 10.14% return in the last one month and around 5.07% in the last week. This scheme has around 29% holdings in stocks of construction companies, 22.49% in engineering companies, and 16.27% in companies dealing with metals and metal products. The net asset value (NAV) of this scheme was Rs 25.24 on July 5.
Even Tata Select Equity, which invests predominantly in the Sensex pack, has posted 7.61% return in the last one month. The AUM of this fund is around Rs 119 crore, and its NAV was Rs 54.35 on July 5. The scheme has 23.80% holding in engineering companies, 16% in construction companies, and around 12% in technology companies.
Other schemes, which has outperformed the benchmark index during the last one month include Standard Chartered Premier equity with 9.34% return and NAV at Rs 17.48), Sundaram BNP Paribas with 9.22% return and NAV at Rs 20.58, Reliance Pharma with 8.44% return and NAV at Rs 25.79, and Principal Personal Tax Saver with 8.37% return and NAV at Rs 156.84.