Diversified growth funds in limelight
Jan 22, 2001

Author: PersonalFN Content & Research Team

The markets have improved marginally over the last month and significantly during the last week. Both the Sensex and the S&P CNX Nifty have appreciated over 3% during the previous week, which in turn reflected in the growth of Net asset values (NAV) of the diversified growth funds.

Open-ended, Growth Schemes	NAV(Rs)	Last week	Last month	Last year	*CAGR Since inception
BSE-30	-	3.5%	2.6%	-27.7%	-
S&P CNX Nifty	-	3.2%	2.5%	-20.5%	-
S&P CNX 500	-	4.1%	2.2%	-33.3%	-
Reliance Vision Fund	18.9	5.7%	0.4%	-30.0%	11.9%
K P Prima Plus (Gr)	22.7	4.8%	0.8%	-28.3%	15.3%
IDBI-PRIN Equity Fund(Gr)	10.7	4.4%	0.9%	-25.9%	2.1%
Pru ICICI Growth (Gr)	21.3	4.1%	-1.8%	-32.6%	33.6%
K P Bluechip (Gr)	24.3	4.0%	0.0%	-11.2%	28.4%
Alliance Equity Fund (Gr)	36.6	4.0%	-2.1%	-18.9%	67.8%
IDBI-PRIN Growth Fund(Gr)	10.5	3.9%	2.2%	0.0%	3.1%
IL&FS Gr & Val (Gr)	12.4	3.7%	-2.4%	-33.1%	2.0%
ING Growth (Gr)	13.6	3.2%	-9.1%	-35.9%	21.5%
GIC Growth Plus II	14.3	3.1%	2.8%	-29.3%	6.3%
DSP ML Opportunities (Gr)	9.2	3.0%	-1.1%	0.0%	0.6%
DSP ML Equity Fund	17.6	3.0%	-1.3%	-32.0%	23.0%

*CAGR=Compounded Annual Growth Rate

The above table shows how diversified growth funds have performed over the week. After a long saga of domination by the old economy stocks, the new economy stocks are back in limelight. The excellent Q3 results declared by the tech stocks (Infosys, NIIT and Satyam) have been the major booster for the growth shown by the diversified growth funds.

Fund managers who had been calm and didn't change their strategies with the recent melt down in the TMT (technology, media and telecom) sector are the winners today. If this trend were to persist, the diversified funds could continue to generate in attractive returns.