Not surprisingly it was the Debt-oriented mutual funds that have continued to give positive returns in February, while almost all the stock or equity based schemes have given negative returns negative, as per the study conducted by Crisil Fund Services.
Crisil is a rating and performance monitoring agency and is in the business of providing fund valuations and assigning ratings to different bonds, companies and mutual funds and also provide risk management solutions to the Indian MF industry.
As per the news about the study , the highest monthly returns came from the liquid fund index, Crisil-LX, which was up by 0.66 per cent. This was followed by the Crisil STBEX, the debt index serving as benchmark for short-term bond funds and Crisil Fund-dX, the long-term bond funds index .
These returned 0.30 per cent and 0.28 per cent, respectively. Negative returns in this segment came only from the Crisil MF-Gilt index, the gilt funds index, which ended slightly lower at (0.02 per cent), a Crisil release said.
Meanwhile, all indices with equity components ended in negative over the month. The Crisil Fund-eX, the index for diversified equity funds, declined by 4.34 per cent, Crisil Fund-bX, the index for balanced funds, dropped 3.36 per cent.
Crisil MIPEX, the index used as a benchmark for monthly income plans, was down marginally by 0.13 per cent, it added.
However, even with negative returns in February 2008, it was the Reliance Mutual Fund which maintained the top spot. ICICI Prudential Mutual Fund retained the second spot and UTI Mutual Fund was at third place.
Always believing that more risky stocks will definitely give much better returns is a costly and highly vague assumption.
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