Commentary:
1. Though the equity market did not correct like previous week, the indices are sideways with slight downward bias. When we compare the equity funds universal average, we can reconfirm it with bit loss of annual return average from 41.95 to 40.46%
2. Weekly Top 50 impressed with good weekly gain and monthly Top 50 impressed with good monthly gain. The annual Top 50 receded a bit in annual gain from 67.85 to 67.38%.
3. The annual gain of weekly Top 50 being at 58.17, one can be bit relieved that very short term leaders include many medium term gain leaders, making investment decisions bit easier, we will see the details later.
4. Bottom line, much better week for the equities compared to last week, that too with Hang Seng Index excitement cooling off, it is advantage performance leaders through this week report.
5. It is good to see some funds in green on the Weekly Top 50 funds list. The funds are marked green for having above average return within the list for all timelines from 1W thru 1Y. The funds are marked Amber for having above average return in all timelines from 1W thru 1Y except for one timeline, and if above average from1W or 1M timeline is missing, then the other above average is considered to represent both the timelines for Amber computation. Good to see that the Defence funds are returning back to investment grade.
6. Though Hang Seng based funds are in the top of Monthly Top 50, their weekly returns are negative, so it is a pause on investment consideration ahead.
7. Equity Annual Top 50 list is some what similar to what we saw in previous report.
8. Weekly Equity Bottom 50 is used to identify bearish reversals. The rows marked in red are those with below average return for the week or the month, at the same time having above average return for the year. Metal and Commidity funds are losing the shine, so caution ahead.
9. The Monthly Bottom 50 funds list is leveraged similar to Weekly Bottom 50 list, fishing for bearish reversals. Quant fund family is infamous with too many in this list. Quant funds find it hard to be on the top thru the defensive market conditions.
10. Equity Annual Bottom 50 is leveraged differently, to sense bullish reversals. The rows marked in grey are those with above average weekly or monthly return irrespective of annual return (that is because there is not much divergence in annual return in this list). Bank ETFs are showing the sign of better recovery ahead, after many failed attempts. Let us see. Do not trust them to do better till they vanish from this list altogether.
11. Comparing the hybrid fund summary from this week to previous week, the funds did better for short term. Going forward, only Monthly Top 50 details will be shared for hybrid funds as there is not much distinction to be made with further details.
12. The annual performance leaders of hybrid funds with approx. 50% annual gain are missing in the Monthly Top 50, confirming emergence of new leadership ahead.
13. Debt funds performance overall improved thru this week.
14. There is a churn out as to monthly performance of debt funds thru this week. The Long Term Bond funds are pushed bit below this time.
15. Commodity funds corrected thru this week, taking some shine off the returns average on all timelines.
16. A set of commodity funds flip flop in leadership depending on whether the commodity funds had a bullish week or not. So, we see different set of funds on the top this time. It is fair to say that these are more defensive leaders while what we saw last week are the aggressive leaders. With this demarkation, we rarely see an undisputed leader with consistent performance and green status all the time here.
17. Whether it is a weekly Top 50 MF report or special MF report, these are availble in the blog indicated below. Blogs are also rendered as videos for those not prefering to read.
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https://natsfuncorner.blogspot.com/
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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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