Funds with three-digit returns

Updated: Apr 30 2006, 05:30am hrs
Last one year has been phenomenal for equity fund investors. An average diversified equity fund has gained 83.31% in the year ended April 26, 2006. Of the 116 funds with history of at least one year, the following 19 funds have pulled off over a 100% return:

Magnum Multiplier Plus

1-Year Return: 120.79% Net Assets (Rs cr): 676.43 (31/03/06)

Magnums have been in top gear in this bull run and this fund is just one of them. Till as late as September 2005, the fund was rated one-star. But as a result of the robust performance numbers of recent times, the rating has shot up to three-star presently. The fund has donned an aggressive look currently with two of its top holdings accounting for more than 8% each.

Magnum Contra

1-Year: 120.26% Net Assets (Rs cr): 1,095.25 (31/03/06)

This return machine continues to post solid performance year after year. The success of this five-star fund has perhaps been the motivation behind some of the recently-launched contra funds.

Prudential ICICI Dynamic

1-Year Return: 115.16% Net Assets (Rs cr): 903.89 (31/03/06)

This fund has a very flexible asset allocation which allows it to park its entire corpus in debt instruments should the need arise. But the roaring markets have ensured that it never exploited that option significantly. After lagging the category in the first two years of its existence, the fund is trying to set the records right.

Sundaram Select Midcap

1-Year Return: 114.49% Net Assets (Rs Cr): 562.90 (31/03/06)

Launched at just about the right time, Sundaram Select Midcap has everything that an investor can expect from a mid-cap fund - a disciplined fund house, diversity in portfolio, manageable asset size, and a five-star rating.

Prudential ICICI Emerging STAR

1-Year Return: 113.96% Net Assets (Rs cr): 606.49 (31/03/06)

This fund has had an explosive start. The fund has extracted smart gains out of small companies. Currently, more than half of its assets are parked in small-cap stocks.

Magnum Global

1-Year Return: 112.53% Net Assets (Rs cr): 534.39 (31/03/06)

Arguably the most-impressive mover of the recent times. Like the other Magnums, it has made full use of the ongoing rally. Once an easily avoidable fund, it has now come in the reckoning and has forced its way into the top rating.

Sundaram India Leadership

1-Year Return: 109.96% Net Assets (Rs cr): 274.06 (31/03/06)

The fund has quite a focused objective of investing in stocks of companies which are leaders in their respective sectors or amongst top 2-3 companies in any sector in terms of net revenue or total income. And so far, things have gone pretty well for it.

Sundaram Select Focus

1-Year Return: 109.41% Net Assets (Rs cr): 81.53 (31/03/06)

Third Sundaram fund that has delivered over 100% return in the last one year, Sundaram Select Focus offers a concentrated large-caps oriented portfolio. This is one of the rare funds that has flourished with a decisively large-caps tilted portfolio.

DSPML TIGER

1-Year Return: 106.46% Net Assets (Rs cr): 801.06 (31/03/06)

Another among quite a few freshers on fire in this list. The fund seeks gain from the continuing liberalisation in economic policies and investments in infrastructure. So far, so good!

Franklin India Opportunities

1-Year Return: 105.59% Net Assets (Rs cr): 385.03 (31/03/06)

An impressive opportunities funds to be launched in the recent times. The fund started off with a strong large-cap bias which has not been very common for an opportunities fund. But all that has changed in the last few months as large-caps have increasingly made way for small-cap stocks.

HDFC Core & Satellite

1-Year Return: 104.98% Net Assets (Rs cr): 641.12 (31/03/06)

With a concentrated portfolio spread over around 25 stocks, HDFC Core & Satellite has done well since launch in late 2004. The fund manager loves to invest heavily in individual stocks here. So far, it has kept a large-caps oriented portfolio, while mid- and small-caps have played a supporting role.

Deutsche Alpha Equity

1-Year Return: 104.21% Net Assets (Rs cr): 46.11 (31/03/06)

After a modest start, this fund has done extremely well in the last one year. With the markets favouring large-cap stocks, Deutsche Alpha Equitys bread and butter, the fund has pulled off over 100% return in the last one year period.

UTI Basic Industries

1-Year Return: 102.96% Net Assets (Rs cr): 284.65 (31/03/06)

Another fund that has made full use of the ongoing mid-caps rally. With a well-diversified portfolio tilted towards companies engaged in sectors like metals, building materials, oil & gas, power, chemicals, engineering, UTI Basic Industries has done well in nearly two years of existence.

Pru ICICI Power

1-Year Return: 101.51% Net Assets (Rs cr): 1,094.21 (31/03/06)

Investors looking for a diversified fund with inclination towards core sector stocks may like this fund, although it has modified its character to include pharma stocks. Over the years, it has delivered consistently with a large-cap dominated portfolio.

Kotak 30

1-Year Return: 101.39% Net Assets (Rs cr): 336.35 (31/03/06)

This fund restricts its investment to nearly 30 stocks. It has always maintained a large-cap portfolio, thus making it one of the least volatile funds in the category. Cautious long-term investors would do well here.

Magnum Midcap

1-Year Return: 101.36% Net Assets (Rs cr): 355.24 (31/03/06)

Mid-caps are the flavour of the season and this fund seems to be rejoicing it. Launched in March last year, Magnum Midcap has had a ballistic start with a fairly concentrated mid- and small-caps portfolio.

Kotak Opportunities

1-Year Return: 100.74% Net Assets (Rs cr): 231.28 (31/03/06)

This fund has seized the opportunity with both hands to race ahead. The fund has a portfolio well spread-out across market capitalisations and is one of the few funds to be betting big upon the metals sector presently.

Can DMat

1-Year Return: 100.63% Net Assets (Rs cr): 5.25 (31/03/06)

This fund has pulled off a surprise in the last one year. Otherwise, it has a wretched past. Funds large-cap orientation has helped.

The author is with Value Research