MF equity schemes excel with returns of over 100%
Mumbai: The fortunes of the equity schemes of mutual funds have turned around due to the booming stock market with returns from a large number of growth (equity) schemes being over 100 per cent this year, says a report. The returns are based on the net asset value of the funds during the year. However, returns from the debt funds have come down to single digit this year compared to the double-digit returns seen in the previous two years due to falling interest rates.

What is more interesting is that more than 50 growth schemes of various mutual funds outperformed the broader BSE 500 index. In the last one year, BSE 500 index provided returns of 95 per cent. Even sector-specific funds have outperformed their respective indices, indicating better management of the portfolio. A similar trend by the growth funds was seen in 1999-2000 mainly due to the rise in the technology stocks.
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BSE CG index tops sectoral indices with 161% gain
Mumbai: The current Bull Run in the equity markets has broken most of the old records and has given many pleasant surprises. Sectors earlier battered are not only getting re-rated in the current rally, but are also touching historic highs. From the available 16 indices provided by both the premier stock exchanges — the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) — nine indices have gained a record over 90 per cent, says a report.

Leading the list is the capital goods sector index, belonging to BSE. The BSE Capital Goods (BSE CG) Sector index has surprisingly taken the number one position in terms of returns in 2003, beating all the 16 indices provided by the SEs. The BSE CG index gained a whopping 161 per cent, or 1,402.83 points to 2,274.93 points, in the current calendar year till date. The key contributor to this sector was Bharat Electronics, which gained 241 per cent to Rs 596.05 as on December 22, 2003. The state-run company has a weightage of about 16 per cent in the BSE CG index, the highest in the list of 30 stocks in the BSE CG index. The other big gainers include ABB, jumping 155 per cent in the current year till date, Bharat Heavy Electricals Ltd (BHEL), surging 182 per cent, and Siemens vaulting 218 per cent.
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