mutual funds training icici

8/8/2019 Mutual Funds Training ICICI

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PERFORMANCE COMPARISON OF

DIFFERENT MUTUAL FUNDS

Kavita Singh

097609


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ICICI Prudential AMC


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At inceptionMay 1998

As on April 30,2010

Average Assets UnderManagement

Rs. 160 Crores Rs. 83069.89Crores

Number of FundsManaged

2 40

Assets Under Management


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IntegrityCustomer First

BoundarylessOwnershipPassion

Values At ICICI Prudential


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MANAGEMENTMr. Nimesh ShahManaging Director and Chief Executive OfficerMr. Kalyan PrasathH ead - Information TechnologyMr. Hemant AgarwalH ead Operations

FU ND MANAGERSMr. S. NarenMr. Chaitanya Pandey

BO ARDO F DIRECTO RSMs. Chanda Kocchar Chairperson

Management Team


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Mutual Fund Industry

Sponsor

Trust

Asset Management Company


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W hat is a Mutual Fund?


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Fo r example:Market value = Rs. 100,000

No. of units = 10,000.

NAV of this scheme = (A)/(B)

=100,000/10,000 or Rs.10.00

NAV


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Mutual Funds Structure


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Risk Return Profile


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Types Of Risks


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Market Share of Players(2009)


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Types Of Mutual Funds


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Scheme Type TimeHo rizo n

RiskProf ile

Typical Investment Pattern

Objective Open Close Equity(%)

Debt(%)

Money Market/Others (%)

MoneyMarket

Yes No Short- Term Low 0 80-100

80-100

Income Yes Yes Medium-Long Term

Low tomedium

0 0-20 0-20

Growth Yes Yes Long Term H igh 80-100 0-20 0-20

Balanced Yes Yes Long Term Medium toH igh

0-60 0-40 0-20

TaxSaving

Yes Yes Long Term H igh 80-100 80-100

0-20


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The Treynor Measure

The Sharpe MeasureJenson ModelFama Model

Performance Measures Of MFs


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Treynor's Index(Ti) = (Ri - Rf )/ i.

whereRi represents return on fund,Rf is risk free rate of return

i is beta of the fund.

Treynor s Index


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Sharpe s Index

Sharpe s Index(Si) = (Ri - Rf )/ S i.

whereRi represents return on fund,

Rf is risk free rate of returnSi is Std. Dev. of the fund.


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Jenson s Model

Ri = Rf + i (Rm - Rf )


i is Std. Dev. of the fund.Rm is average market return.


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Fama Model

Ri = Rf + Si/Sm* (Rm - Rf )


i is Std. Dev. of the fund.Rm is average market return.Sm is standard deviation of market returns


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The period chosen for the study is from1 st April, 2009 t o 31 st March, 20 10.

5 companies are taken for comparison.

SCOPE OF TH E STUDY


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The average of the monthly yields on91-day GOI T-bills is calculated to calculate R f .

Therefore, the average yield =3.55 % is the risk free rate of return

Source:- www.rbi.com

Calculation Of Risk Free Rate Of Return

MONTH YIELD

Apr-09 3.81

May-09 3.25

Jun-09 3.34

Jul-09 3.22

Aug-09 3.34

Sep-09 3.33

Oct-09 3.23

Nov-09 3.27

Dec-09 3.54

Jan-10 3.85

Feb-10 4.11

Mar-10 4.33


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Birla Sun Life Mutual Fund

Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany:

Birla Sun Life Equity Fund (Growth)

Birla Sun Life Income Fund (Growth)

Birla Sun Life Tax Plan (Growth)


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Birla Sun Life Equity Fund (Growth)

Month Net Assets Value Monthly Return

Apr-09 123.90 - 183.76 48.3132

May-09 183.76 - 195.43 6.3507

Jun-09 195.43 - 194.66 -0.394

Jul-09 194.66 - 216.34 11.1374Aug-09 216.34 - 216.34 0

Sep-09 216.34 - 231.95 7.2155

Oct-09 231.95 - 223.08 -3.8241

Nov-09 223.08 - 239.77 7.4816

Dec-09 239.77 - 252.08 5.1341Jan-10 252.08 - 241.77 -4.09

Feb-10 241.77 - 237.14 -1.915

Mar-10 237.14 - 252.91 6.6501

AVERAGE RETURN 6.84%


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Birla Sun Life Income Fund (Growth)

Mo nth Net Assets Value M o nthly ReturnApr-09 32.0807 - 31.9038 -0.55 14May-09 31.9038 - 32.304 5 1 .2560Jun-09 32.304 5 - 33.0633 2.3 48 9Jul-09 33.0633 - 32.8129 -0.7573Aug-09 32.8129 - 33.0 5 89 0.7 497Sep-09 33.0 5 89 - 33.3736 0.95 19O ct-09 33.3736 - 33.913 5 1 .6177No v-09 33.913 5 - 33.7813 -0.3 898Dec-09 33.7813 - 33.841 5 0.1782

Jan- 10 33.841 5 - 33.7849 -0.1673Feb- 10 33.7849 - 33.7849 0.0000Mar- 10 33.7849 - 33.9643 0.53 10

AVERAGE RETURN

0.4806 %


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Birla Sun Life Tax Plan (Growth)

Mo nth Net Assets Value M o nthly ReturnApr-09 7.13 - 8.6 5 21.3184May-09 8.6 5 - 10.66 23.2370Jun-09 10.66 - 10.28 -3.56 47

Jul-09 10.28 - 11.44 11 .284 0Aug-09 11.44 - 11.44 0.0000Sep-09 11.44 - 12.19 6.5559O ct-09 12.19 - 11.42 -6.3 167No v-09 11.42 - 12.24 7.18 04Dec-09 12.24 - 12.87 5.14 71Jan- 10 12.87 - 12.1 5 -5.59 44Feb- 10 12.1 5 - 12.09 -0.4938Mar- 10 12.09 - 12.8 5 6.2 862

AVERAGE RETU RN 5.41 99 %


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Funds PerformanceParticular Average

Return

Sharpe Index

Ratio

Rank

Birla Sun Life Equity Fund-Growth 6.8383 % 0.235 I

Birla Sun Life Income Fund -Growth 0.4806 % -3.259 III

Birla Sun Life Tax Plan (Growth) 5.4199 % 0.1947 II

5

Birla Sun Life uit Fund-Growth

Birla Sun Life IncomeFund -Growth

Birla Sun Life Tax Plan(Growth)

Average Return

-3.5

-3

-2.5

-2

-1.5

-1

-0.5

0

0.5

Birla Sun Life EquityFund-Growth

Birla Sun Life IncomeFund -Growth

Birla Sun Life Tax Plan(Growth)

Shar pe In de x Rat io


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Kotak Equity-FOF-Growth

Kotak Income Plus-(Growth)

Kotak Tax Saver-Scheme-Growth

Kotak Mahindra Mutual Fund


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Kotak Equity-FOF-GrowthMo nth Net Assets Value M o nthly ReturnApr-09 18.7 55 - 20.77 10.7 438May-09 20.77 - 27.76 33.65 43Jun-09 27.76 - 27. 5 16 -0.8790Jul-09 27. 5 16 - 30.134 9.5 14 5

Aug-09 30.134 - 30.134 0.0000Sep-09 30.134 - 32.362 7.3936O ct-09 32.362 - 31.2190 -3.53 19No v-09 31.2190 - 33.2 5 60 6.52 49Dec-09 33.2 5 60 - 34.3 5 4 3.30 17Jan- 10 34.3 5 4 - 33.10 5 0 -3.6357

Feb- 10 33.10 5 0 - 32.9910 -0.3 444Mar- 10 32.9910 - 34.8960 5.77 43

AVERAGE RETU RN5.7097%


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Kotak Income Plus-Growth

Mo nth Net Assets Value M o nthly ReturnApr-09 12.83 5 7 - 13.1026 2.079 4May-09 13.1026 - 13.736 4.8342Jun-09 13.736 - 13.6629 -0.52 49

Jul-09 13.736 - 14.0937 3.1455Aug-09 14.0937 - 14.0937 0.0000Sep-09 14.0937 - 14.16 5 1 0.5066O ct-09 14.16 5 1 - 14.2771 0.7907No v-09 14.2771 - 14. 5 15 3 1.66 84Dec-09 14. 5 15 3 - 14.6471 0.90 80

Jan- 10 14.6471 - 14. 5 702 -0.5250Feb- 10 14. 5 702 - 14. 55 97 -0.072 1Mar- 10 14. 55 97 - 14.8148 1.752 1

AVERAGE RETU RN 1.2136%


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Kotak Tax Saver Scheme-Growth

Mo nth Net Assets Value M o nthly ReturnApr-09 9.122 - 9.98 9.4058May-09 9.98 - 13.789 38.1663Jun-09 13.789 - 13.447 -2.48 02Jul-09 13.447 - 14.894 10.760 8

Aug-09 14.894 - 14.894 0.0000Sep-09 14.894 - 1 5 .918 6.8753O ct-09 15 .918 - 14.9270 -6.2257No v-09 14.9270 - 16.06 7.5903Dec-09 16.06 - 16.67 5 3.8294

Jan- 10 16.67 5 - 15 .85 -4.9475Feb- 10 15 .85 - 15 .8110 -0.2 461Mar- 10 15 .8110 - 17.1080 8.203 1

AVERAGE RETU RN (in %age) 5.9 11 0%


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Funds Performance

Particular Average Return Sharp Index Rati o Rank

Kotak Equity-FOF-Growth 5 .7097 % 0.2144 I

Kotak Income Plus-(Growth) 1.2136 % - 1.4634 III

Kotak Tax Saver-Scheme-

Growth

5 .9110 % 0.1637 II

-2

-1.5

-1

-0.5

0

0.5

Kotak Equity-FOF Kotak Income Plus Kotak Tax Saver

Sharpe Index Rati o

0.00%

1.00%

2.00%

3.00%

4.00%

5 .00%

6.00%

7.00%

Kotak Equity-FOF Kotak Income Plus Kotak Tax Saver

Average Return


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Escorts Mutual Fund

Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany

Escorts Growth Plan (Growth)

Escorts Income Plan (Growth)

Escorts Tax Plan (Growth)


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Escorts Growth Plan (Growth)

Mo nth Net Assets Value M o nthly Return

Apr-09 34.81 55 - 36.6330 5.220 4

May-09 36.6330 - 5 6.9001 55.32 47

Jun-09 5 6.9001 - 55 .5 782 -2.3232

Jul-09 55 .5 782 - 60.7149 9.2 423

Aug-09 60.7149 - 60.7149 0.0000

Sep-09 60.7149 - 63.0134 3.7 857O ct-09 63.0134 - 60.73 5 1 -3.6 156

No v-09 60.73 5 1 - 64.4480 6.11 33

Dec-09 64.4480 - 68.3673 6.0 81 3

Jan- 10 68.3673 - 6 5 .7441 -3.8369

Feb- 10 65 .7441 - 64.8682 -1.3323Mar- 10 64.8682 - 70.12 5 0 8.1038

AVERAGE RETU RN 6.8970%


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Escorts Income Plan (Growth)


Apr-09 27.1 5 35 - 28.2081 3.88 38May-09 28.2081 - 27.8613 -1.229 4Jun-09 27.8613 - 28.1730 1.1188Jul-09 28.1730 - 28.1160 -0.2023Aug-09 28.1160 - 28.1160 0.0000Sep-09 28.1160 - 28.3370 0.7 860O ct-09 28.3370 - 28.4620 0.4411No v-09 28.4620 - 28.9679 1.7775Dec-09 28.9679 - 28.9170 -0.1757

Jan- 10 28.9170 - 29.0 5 67 0.48 31Feb- 10 29.0 5 67 - 29.0088 -0.1649Mar- 10 29.0088 - 29.206 5 0.6 81 5

AVERAGE RETU RN 0.6167 %


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Escorts Tax Plan (Growth)Mo nth Net Assets Value M o nthly Return

Apr-09 25 .9839 - 27.290 5 5.02 85

May-09 27.290 5 - 37.1072 35.97 11

Jun-09 37.1072 - 38.6629 4.1924

Jul-09 38.6629 - 40.8944 5.77 17

Aug-09 40.8944 - 40.8944 0.0000

Sep-09 40.8944 - 42.8 5 70 4.7992

O ct-09 42.8 5 70 - 41.624 5 -2.8758

No v-09 41.624 5 - 44.1 55 6 6.0 808

Dec-09 44.1 55 6 - 4 5 .8891 3.9259

Jan- 10 45 .8891 - 44.3687 -3.3 132Feb- 10 44.3687 - 42.6067 -3.97 13

Mar- 10 42.6067 - 4 5 .3606 6.4635



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Fo r Per fo rmance C o mparis o n we take threeMutual Fund Schemes of Co mpany

ICICI Prudential Growth Plan-(Growth Option)

ICICI Prudential Income Plan- (Growth Option)

ICICI Prudential Tax Plan-(Growth Option)

ICICI Prudential Mutual Fund


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ICICI Prudential Income PlanMo nth Net Assets Value M o nthly Return

Apr-09 27.7341 - 29.4 5 77 6.2 14 7May-09 29.4 5 77 - 29.0718 -1.3100Jun-09 29.0718 - 29.4018 1.1351Jul-09 29.4018 - 29.2732 -0.4374

Aug-09 29.2732 - 29.2732 0.0000Sep-09 29.2732 - 29.3743 0.3 454O ct-09 29.3743 - 29. 5 396 0.5627

No v-09 29. 5 396 - 30.0600 1.76 17Dec-09 30.0600 - 29.8737 -0.6 198

Jan- 10 29.8737 - 29.995

0 0.4060Feb- 10 29.99 5 0 - 29.7610 -0.7 801Mar- 10 29.7610 - 29.9240 0.5 477



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ICICI Prudential Tax Plan

Mo nth Net Assets Value M o nthly ReturnApr-09 5 6.88 - 63.84 12.2363

May-09 63.84 - 8 5 .02 33. 1767Jun-09 85 .02 - 8 5 .95 1.0939

Jul-09 85 .95 - 100.63 17.0797Aug-09 100.63 - 100.63 0.0000Sep-09 100.63 - 107.97 7.29 40O ct-09 107.97 - 106.29 -1.5560

No v-09 106.29 - 113. 55 6.8304Dec-09 113. 55 - 121.69 7.1686

Jan- 10 121.69 - 118.88 -2.309 1Feb- 10 118.88 - 120.47 1.3375Mar- 10 120.47 - 127.34 5.7027



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Funds PerformanceParticular Average Return Sharpe Index Rati o Rank

ICICI Prudential Growth Plan-(Growth Option) 4.8724 % 0.1615 II

ICICI Prudential Income Plan- (Growth Option) 0.6522 % -1.488 III

ICICI Prudential Tax Plan-

(Growth Option)

7.3379 % 0.3804 I

0.00%

1.00%

2.00%

3.00%

4.00%

5 .00%

6.00%

7.00%

8.00%

ICICI PrudentialGrowth Plan-

(Growth)

ICICI PrudentialIncome Plan-

(Growth)

ICICI Prudential TaxPlan-(Growth)

Average Return

-2

-1.5

-1

-0.5

0

0.5

ICICI Prudential GrowthPlan-(Growth)

ICICI Prudential IncomePlan- (Growth)

ICICI Prudential TaxPlan-(Growth)

Sharpe Index Rati o


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Reliance Equity Fund-Growth Plan

Reliance Income Fund-Retail Plan - Growth Plan

Reliance Tax Saver (ELSS) Fund-Growth Plan

Reliance Mutual Fund


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Reliance Equity Fund-Growth Plan

Mo nth Net Assets Value M o nthly ReturnApr-09 9.2882 - 10.0227 7.9079

May-09 10.0227 - 13.0391 30.0957Jun-09 13.0391 - 12.9842 -0.4210

Jul-09 12.9842 - 14.0367 8 .1060Aug-09 14.0367 - 14.0367 0.0000Sep-09 14.0367 - 14.9 55 3 6.5 44 3O ct-09 14.9 55 3 - 14.0006 -6.3 837

No v-09 14.0006- 14.720 5 5.141 9Dec-09 14.720 5 - 15 .1637 3.0 108Jan- 10 15 .1637 - 14. 5 187 -4 .2536Feb- 10 14. 5 187 - 14.4188 -0.6 881Mar- 10 14.4188 - 14.8268 2.8296

AVERAGE RETU RN 4 .32 41


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Reliance Income Fund


Apr-09 29.0 5 75 - 30.4693 4 .8586

May-09 30.4693 - 29.9680 -1.6453

Jun-09 29.9680 - 30.0 5 25 0.2 820

Jul-09 30.0 5 25 - 29.9 5 10 -0.3377Aug-09 29.9 5 10 - 29.9 5 10 0.0000

Sep-09 29.9 5 10 - 30.0241 0.2 434

O ct-09 30.0241 - 30.2366 0.70 84

No v-09 30.2366 - 30.6048 1 .2177

Dec-09 30.6048 - 30. 5 788 -0.0 850

Jan- 10 30. 5 788 - 30.719 5 0.4601

Feb- 10 30.719 5 - 30.6491 -0.2292

Mar- 10 30.719 5 - 30.8 5 15 0.660 4

AVERAGE RETU RN 0.5111


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Reliance Tax Saver (ELSS) FundMo nth Net Assets Value M o nthly Return

Apr-09 9.714 - 10.7404 10. 5 662May-09 10.7404 - 14.0 5 19 30.8322Jun-09 14.0 5 19 - 14.1409 0.6334Jul-09 14.1409 - 1 5 .45 60 9.3000

Aug-09 15 .45 60 - 1 5 .45 60 0.0000Sep-09 15 .45 60 - 16. 5 706 7.2114O ct-09 16. 5 706 - 1 5 .9138 -3.9636

No v-09 15 .9138 - 16.9834 6.7212Dec-09 16.9834 - 18.2047 7.1911Jan- 10 18.2047 - 17.6641 -2.9696

Feb- 10 17.6641 - 17.6091 -0.3 114Mar- 10 17.6091 - 18.7234 6.3280

AVERAGE RETU RN (in %age) 5.96 16


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Funds PerformanceParticular Average Return Sharp Index Rati o Rank

Reliance Equity Fund-Growth Plan-

(Growth Option)

4.3241 % 0.0831 II

Reliance Income Fund-Retail Plan -

Growth Plan - Growth

0.5 111 % -1.9719 III

Reliance Tax Saver (ELSS) Fund-Growth

Plan- (Growth Option)

5 .9666 % 0.2613 I

0.00%

1.00%

2.00%

3.00%

4.00%5 .00%

6.00%

7.00%

Reliance EquityFund-Growth Plan-

(Growth Option)

Reliance IncomeFund-Retail Plan -

Growth Plan -Growth

Reliance Tax Saver(ELSS) Fund-Growth

Plan- (GrowthOption)

Average Return

-2.5

-2

-1.5

-1

-0.5

0

0.5

Reliance Equity Fund-Growth Plan-(Growth

Option)

Reliance Income Fund-Retail Plan - Growth

Plan - Growth

Reliance Tax Saver(ELSS) Fund-Growth

Plan- (Growth Option)

Sharpe Index Rati o


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Analysis of Equity Funds of 5 Companies

0

0.0 5

0.1

0.1 5

0.2

0.2 5

0.00%

1.00%

2.00%

3.00%

4.00%

5 .00%

6.00%

7.00%

8.00%

Sharpe s Index % Annual Return


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Analysis of Income Funds of 5 Companies


-3.5

-3

-2.5

-2

-1.5

-1

-0.5

0

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%


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Analysis of Tax Saver Plans of 5 Companies


00.0 5

0.10.1 5

0.20.2 5

0.30.3 5

0.4

0.00%1.00%2.00%

3.00%4.00%5 .00%6.00%7.00%8.00%


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1) Do you invest your saving in mutual fund ?

Yes68%

No

32%


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2) Do you have complete information about mutual fund?

Yes5 6%

No24%

Not Much20%


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4) Do you know mutual fund is agood instrument of tax saving?

Yes76%

No24%

f f


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5 ) Among which of the followingincome group you fall?

mutual funds training icici

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