Commentary:
1. Though there was a bit of negative sentiment post the budget annuouncement as a knee jerk reaction, the negative sentiment was totally wiped out on the equity market on the last two days sessions of the week.
2. As a result, the equity mutual funds ended with good returns for the week and the month. So, were the hybrid funds. However, the commodity funds suffered further thru the week due to international gold prices correcting further, over and above the budget impact. However, the Gold prices improved overnight on Friday in the international market, hence we can see some rebound on the commodity funds thru next week.
3. Decision is to add one more feature in the Top 50 report from this week onwards, which is to accomodate the funds which fail to have above average return in one of the timelines from 1M thru 1Y, and highlighted in amber as a result. The considerations for marking the fund green remain the same, which is to have above average retruns in all timelines from 1M thru 1Y. If the fund is reasonably new, it needs to have at least 1M and 3M data above average to deserve a green status, funds with only 1M data above average will continue to be marked as amber.
4. Looking at the Monthly Top 50, IT/Tech funds still rule, Pharma/Healthcare funds coming in, and a few consumption and value funds. Recently launched IT/Tech funds got green status as they do not have the subpar annual or six months data pulling down.
5. Monthly Bottom 50 list is to appreciate the positive trend reversal, or continuation of negative trend of some funds. For this the rule is further refined from this week onwards, which is that the fund in the list needs to have above average annual return (Marked Black Bold) and it needs to have below average return either for the week or the month. (Marked in the Bold Red). The funds identified this way are marked in Red Bold.
6. A bunch of Bank ETFs are still in the monthly bottom 50 list, and though have negative returns for the month and week, they are above the bottom 50 averages. So, hope of reversal ahead is alive for them.
7. Looking at the Annual Top 50 equity funds list, Nifty auto ETF funds show the promise of domination again.
8. Looking at the Annual Bottom 50, attempt is to highlight the potential turn around on the under performers by highlighting those funds which have above average return either on the weekly column or the monthly column. May be, the worst is over for the bunch of Bank ETFs shown in the bottom of the list in bold.
9. Looking at the Hybrid Monthly Top 50, the distinction between the Green and Amber color is the same as in the Equity funds list.
10. Looking at the Hybrid Annual Top 50, the distinction between the Green and Amber color is the same as in the Equity funds list.
11. Looking at the Commodities Top list above, in spite of heavy corrections, the green and amber ones give clarity as to the priority for reinvestment at botttom prices.
Disclaimer:
- This is not a solicitation for mutual fund investment nor an advice. It is only an insight to help investment decisions based on the free MF performance data downloaded from Value Research. Investment decisions are only yours to make.
- Mutual fund investments are subjected to market risk. Read the propsectus of a mutual fund for all the risk information associated prior to investment.
- The author can not be responsible for the ommissions or errors in the data from Value Research or the data processing errors if any by the author.
- All your investment decisions need to be based on your decision finally, with no blame to anyone else later.
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