Evaluation Of Performance Of Indian Equity Mutual Fund Schemes Growth Against Their Benchmark Index PDF Download
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| Author | : Nandkishor Chintaman Patil |
| Publisher | : |
| Total Pages | : 19 |
| Release | : 2016 |
| Genre | : |
| ISBN | : |
Download Evaluation of Performance of Indian Equity Mutual Fund Schemes (Growth) Against Their Benchmark Index Book in PDF, ePub and Kindle
All investors are expected to generate higher return than inflation rate on investments made in various financial products. The Mutual fund is the one avenue, which helps investors especially retail investors indirectly invest in capital market. As the proportion of retail investors are increase their investment in capital market through mutual fund schemes. Based on literature reviewed mutual fund scheme's performance is being measured on the basis of Compounded Annual Growth Rate (CAGR), average return, as well as risk adjusted performance measures like Sharpe ratio, Treynor ratio and Jensen's Measure and same was used for the study. The study covers the mutual fund scheme's performance against their respective scheme's benchmark index from January 2001 to December 2007. The study found that on the basis of CAGR method is produced better result than Annual average return, out of 34 fund scheme's CAGR and 30 fund scheme's were outperformed index benchmark. The schemes performance on the basis of risk adjusted measures, 28 Schemes has performed well out of 44 against their benchmark index by Sharpe ratio. The fund schemes by Treynor ratio 31 schemes outperformed against their benchmark index. Jensen's ratio of 31 fund schemes has been positive out of 44.
| Author | : Soumya Guha Deb |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 332 |
| Release | : 2011-03 |
| Genre | : |
| ISBN | : 9783844321111 |
Download Performance Evaluation of Indian Equity Funds Book in PDF, ePub and Kindle
The mutual funds in India have registered significant growth and emerged as important financial intermediaries during the past decade or so, manifested by increased mobilization of funds and the increasing number of schemes and investors. To fulfill the expectations of millions of unit holders, the mutual funds are required to function as successful institutional investors. Evaluating performance of mutual fund managers vis-a-vis such a goal, is important for both the investors as well as the fund managers. Fund managers in India, periodically publish various performance reports using standard measures, which may not actually reflect the true investment performance of the funds. The present study evaluated the performance of the equity mutual funds in India during the period from 2000 to 2006, using a new framework.A number of new performance indicators are used for the purpose, and it is hoped that this attempt should highlight the efficiency and true competence of fund managers and augment the existing framework for identifying successful fund managers. It should benefit the investors, regulators, fund managers and other participants in the mutual fund industry in gene
| Author | : Narayan Rao Sapar |
| Publisher | : |
| Total Pages | : 24 |
| Release | : 2003 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation of Indian Mutual Funds Book in PDF, ePub and Kindle
In this paper the performance evaluation of Indian mutual funds in a bear market is carried out through relative performance index, risk-return analysis, Treynor's ratio, Sharp's ratio, Sharp's measure, Jensen's measure, and Fama's measure. The data used is monthly closing NAVs. The source of data is website of Association of Mutual Funds in India (AMFI). Study period is September 98-April 02 (bear period). We started with a sample of 269 open ended schemes (out of total schemes of 433) for computing relative performance index. Then after excluding the funds whose returns are less than risk-free returns, 58 schemes were used for further analysis. Mean monthly (logarithmic) return and risk of the sample mutual fund schemes during the period were 0.59% and 7.10%, respectively, compared to similar statistics of 0.14% and 8.57% for market portfolio. The results of performance measures suggest that most of the mutual fund schemes in the sample of 58 were able to satisfy investor's expectations by giving excess returns over expected returns based on both premium for systematic risk and total risk.
| Author | : Bhavinkumar Arvindbhai Patel |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 324 |
| Release | : 2012-07 |
| Genre | : |
| ISBN | : 9783659119019 |
Download Performance of Mutual Funds Book in PDF, ePub and Kindle
Mutual funds in India: a comprehensive review is an outcome of extensive research work carried out by Dr. Bhavinkumar A. Patel. The basic objectives of this book includes (A) In-depth analysis of mutual fund industry in India (B) Performance evaluation of selected growth oriented schemes operating in India by different blue chip companies and (C) Analysis of perception of investors, brokers and fund managers. This book focuses on the real life growth and development of the mutual fund industry in India considering different parameters like Assets Under Management (AUM), fund mobilized, redemption and repurchase of funds, total schemes launched and in operation under different categories, analysis of growth oriented mutual fund schemes by applying well established measures like Sharpe, Treynor, Jensen and Fama's Net Selectivity. Moreover, it also highlight the perception of investing community and mutual fund professionals. This book would surely provide strong platform to students and professors of finance, mutual fund research scholars, practicing mutual fund professionals and investing community at large.
| Author | : Berk A. Sensoy |
| Publisher | : |
| Total Pages | : 37 |
| Release | : 2008 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation and Self-Designated Benchmark Indexes in the Mutual Fund Industry Book in PDF, ePub and Kindle
Almost one-third of actively managed, diversified U.S. equity mutual funds specify a size and value/growth benchmark index in the fund prospectus that does not match the fund's actual style. Nevertheless, these quot;mismatchedquot; benchmarks matter to fund investors. Performance relative to the specified benchmark is a significant determinant of a fund's subsequent cash inflows, even controlling for performance measures that better capture the fund's style. These incremental flows appear unlikely to be rational responses to abnormal returns. The evidence is consistent with the notion that mismatched self-designated benchmarks result from strategic fund behavior driven by the incentive to improve flows.
| Author | : Bhuvaneswari Palanisamy |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 296 |
| Release | : 2012-03 |
| Genre | : |
| ISBN | : 9783848419418 |
Download Mutual Funds Book in PDF, ePub and Kindle
This book examines the market timing ability and stock selection ability of Managers of Indian Equity Mutual Fund Schemes by using different variables. Mutual Fund Institutions in India have grown significantly over the years. These institutions certainly play a crucial role in the Indian Economy. The rapid growth of Mutual Funds has compelled us to take a deeper look into the performance of Mutual Funds, taking into account the expectations of investors, ability of Fund Managers Portfolio Managers to time their entry into the market and choose the right stock. This would enable the investors to assess how much returns has been generated by Portfolio Managers and what risk level was assumed in generating such funds. Similarly, Fund Managers would be able to identify their fund performance over the time. The study on performance evaluation also provides a mechanism for identifying strengths and weaknesses of Fund Managers in the investment process under different market conditions and helps them to take corrective actions.
| Author | : Suresh N. |
| Publisher | : |
| Total Pages | : |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
Download Performance Analysis of Mutual Funds - A Comparative Study on Equity Diversified Mutual Fund Book in PDF, ePub and Kindle
In this paper, study has been made to analyse the performance of ten growth oriented equity diversified mutual fund schemes (MFS) viz., Franklin India High Growth Cos fund, UTI MNC Growth fund and etc., against risk free rate, and return over benchmarks indices viz., nifty 500, BSE 200, BSE SENSEX, nifty MNC. The performance of selected mutual funds Schemes are analyzed using monthly closing net asset values and benchmark market index during the April 2010 to march 2015 through risk-return analysis, Sharpe's ratio, Treynor' s ratio, Jensen's measure, Fama's measure and Regression analysis. The risk return analysis, Sharpe ratio, Treynor ratio, Jensen alpha measure reveals that selected MFS over performed the benchmark market index and Fama's measure of inadequate diversification is found in five schemes have shown negative return and net selectivity indicating superior of all stock selection. The benchmark and market return index at 5% level of significance impact on mutual fund in the result of regression analysis.
| Author | : Shivam Tripathi |
| Publisher | : |
| Total Pages | : 7 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation of Selected Equity Mutual Funds in India Book in PDF, ePub and Kindle
In India capital market provide various investment avenues to the investors, to assist them to take a position in various industries and to make sure the profitable return. Among various financial products, open-end fund ensures the minimum risks and maximum return to the investors, Growth, and developments of varied mutual funds products has proved to be one among the foremost catalytic instruments in generating momentous investment growth within the capital market. During this context, close monitoring and evaluation of mutual funds became essential. Therefore, choosing profitable mutual funds for investment may be a vital issue. This study deals with the equity mutual funds that are offered for investment by the varied fund houses in India, this study mainly focused on the performance of selected equity(large-cap, mid-cap, smallcap) open-end fund schemes in terms of a risk-return relationship. The most objective of this research work is to analyse the financial performance of selected open-end fund schemes through statistical parameters like (Jenson's alpha, beta, standard deviation, Sharpe ratio). The researcher concluded that 10 funds out of 15 performed well in a highly volatile market. The researcher found that an investor must consider risk ratios of the fund before investing. The findings of this research study are going to be help full to investors for his future investment decisions.
| Author | : Vanita Tripathi |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2015 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation of Ethical and Conventional Funds - A Study of Taurus Mutual Fund in India Book in PDF, ePub and Kindle
One of the significant developments in the investing community is the rise of socially responsible or ethical investments during last two decades. Because of the increasing size and importance of ethical mutual funds, this paper seeks to evaluate and compare the performance of ethical mutual funds with general funds and benchmark index (S&P BSE Shariah 500 Equity Index) in the Indian market. The sample comprises of six ethical fund schemes and three general fund schemes of Tauras mutual fund over the period 2009-2014 using weekly NAVs. The study uses return, risk, risk-adjusted measures (Sharpe ratio, Treynor ratio, Jensen's alpha and information ratio), Fama's decomposition measure, paired samples t-test and growth regression equation to accomplish the objectives. The findings suggest that some of the ethical funds generated significantly higher return than other funds and benchmark index. Despite having higher risk, ethical funds outperformed other funds and benchmark index on the basis of various risk-adjusted measures and net selectivity returns. This indicates that the compromise made with respect to diversification by investing in ethical funds was well rewarded in terms of higher returns in Indian context. Our findings lend support to the case of ethical investing in India. Mutual funds and other investment funds should launch schemes which invest in socially responsible or ethical stocks.
| Author | : Mamta |
| Publisher | : |
| Total Pages | : 8 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
Download Performance Evaluation of Mutual Funds Book in PDF, ePub and Kindle
Mutual Fund is professionally managed trust that pools the money of various investors and further invests them, into different securities like shares, bonds and short term securities like certificate of deposit, commercial paper etc. and commodities like precious metals. In India the origin of Mutual Funds industry can be traced, since the enactment of UTI (Unit Trust of India) Act, 1963. The mutual funds industry grew successfully and brought about substantial returns to the investors and the public sector. Mutual funds provide opportunities for small investors, to participate in the capital market without assuming a very high degree of risk. An important principle of investment in capital market is that do not put all the eggs in one basket i.e. diversification. A small investor is not able to have a diversified portfolio mainly due to paucity of resources. However, a mutual fund pools together the savings of such small investors and invests the same in the capital market and passes the benefits to the investors. Thus, investors can indirectly participate in the capital market by subscribing to the units of mutual funds. Mutual funds employ professional fund managers to manage the investment activities. Therefore, investors also get benefits of professional expertise of these managers. Daily opening & closing NAV of different schemes have been used to calculate the returns from the fund schemes. BSES ensex has been used for market portfolio. The main aim of this paper is, to evaluate the performance of Indian equity diversified mutual funds. A subsidiary aim is to analyze the relationship between risk and return of these funds, based on total risk and systematic risk. The analysis was achieved, by assessing various financial tests like Average Return, Sharpe Ratio, Treynor Ratio, Standard Deviation, Beta and Coefficient of Determination (R2). The data has been taken from various websites of mutual fund schemes and from amfiindia.com. The analysis depicts that, majority of funds selected for study have outperformed, under Sharpe Ratio as well as Treynor Ratio.
