The repercussions of the current market slump can be felt, rather seen, in the net asset values (NAVs) of diversified growth funds.

With equity markets heading southwards fast, fund managers aren't exactly having the time of their lives. As highlighted by us yesterday, they are being to forced to sell stocks at lower levels to meet redemption requests.

The impact of the market slide on growth fund NAVs has been significant. This is more than evident from the table below. Observe the fall in NAVs over the last week, and one begins to understand why growth fund investors are feeling jittery.

Open-ended, Growth Schemes	NAV (Rs)	Last week	Last month	Last year	Since inception
BSE - 30	-	-5.6%	-19.0%	-27.5%	-
S&P CNX Nifty	-	-4.3%	-17.5%	-19.8%	-
S&P CNX 500	-	-7.1%	-21.4%	-22.8%	-
K P Prima Plus (Gr)	20.4	-4.0%	-15.4%	-11.3%	14.5%
GIC Fortune 1994	6.1	-4.1%	-13.1%	-27.6%	-7.7%
Zurich(I) Capital Builder	9.6	-4.2%	-15.3%	-25.1%	2.7%
Canglobal	6.8	-4.2%	-13.5%	-39.4%	5.3%
K P Bluechip (Gr)	20.8	-4.2%	-15.7%	-0.1%	27.4%
DSP ML Opportunities (Gr)	8.2	-4.3%	-18.7%	0.0%	-7.0%
Primary Equity Fund	14.6	-4.4%	-10.3%	-22.1%	7.1%
JM Equity Fund (Gr)	9.8	-4.4%	-19.4%	-27.9%	0.1%
Alliance Equity Fund (Gr)	34.5	-4.5%	-16.7%	20.5%	78.2%
Alliance Equity Fund (Div)	25.0	-4.5%	-16.7%	21.0%	78.4%
Mastergain 1992	10.5	-4.7%	-15.5%	-25.9%	2.1%
Magnum Global Fund	10.2	-4.7%	-23.1%	-22.9%	2.3%
Pru ICICI Growth (Gr)	20.8	-5.0%	-17.8%	-7.4%	37.1%
Magnum Equity Fund	13.1	-5.1%	-26.7%	-13.6%	14.3%
Mastergrowth 1993	15.9	-5.6%	-20.4%	-22.1%	7.2%
GIC D'MAT	7.4	-5.6%	-13.2%	-35.0%	-32.8%
ING Growth (Gr)	16.1	-5.6%	-21.5%	12.1%	41.9%
Libra Leap	17.5	-5.8%	-19.1%	-1.6%	27.6%
Taurus Starshare	8.1	-6.6%	-19.0%	-20.8%	-4.1%
UGS 10000	10.0	-6.6%	-16.7%	-29.7%	0.5%
Birla Advantage Fund	35.0	-7.3%	-20.1%	-7.3%	31.0%
Magnum Multiplier Plus 1993	16.0	-7.4%	-33.1%	-27.7%	7.7%
GIC Growth Plus II	14.1	-8.5%	-16.4%	-1.9%	6.9%

(The above table only shows diversified growth funds that have fallen by over 4.0% in the last week)

As the market slide shows no signs of abating, fund NAVs are going to be hit that much harder. It remains to be seen how patient investors are going to remain in such a scenario.

Add Comments