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ComparativeAnalysisOfBirlaSunLifeMutualFundSchemesWithOtherAssetManagementCompanysSchemes (241 244) F
ComparativeAnalysisOfBirlaSunLifeMutualFundSchemesWithOtherAssetManagementCompanysSchemes (241 244) F
LARGE CAP
R-
Schemes Benchmark Alpha Beta Std. Dev. Sharpe
Squared
Birla Sun Life Top 100 Fund -1.7 7.99 0.95 2.14 0.14 0.92
HDFC Top 200 Fund 1.7 -2.52 1.12 2.48 0.09 0.95
ICICI Pru Top 100 Fund -1.7 -3.42 0.86 1.99 0.12 0.88
SBI Bluechip Fund -0.8 11.62 0.87 1.96 0.16 0.93
Franklin India Bluechip -3.3 9.62 0.92 2.01 0.11 0.91
Source: www.mutualfundindia.com
DIVERSIFIED EQUITY
R-
Schemes Benchmark Alpha Beta Std. Dev. Sharpe
Squared
Birla Sun Life India GenNext Fund -1.7 16.94 0.82 2.05 0.17 0.74
HDFC Capital Builder Fund 2.1 3.6 0.89 2.01 0.14 0.94
ICICI Pru Dynamic Plan -1.7 -3.3 0.71 1.71 0.14 0.8
SBI Magnum Multicap Fund 1.7 13.38 0.94 2.09 0.15 0.93
Franklin India Prima Plus Fund 2.1 11.13 0.83 1.9 0.17 0.91
Source: www.mutualfundindia.com
• Alpha of Birla Sun Life India GenNext Fund is 1.0 which indicates the fund NAV will be less
the highest value which has positively volatile than the benchmark index.
outperformed its benchmark index, SBI and • Birla Sun Life, HDFC, ICICI, SBI & Franklin
Franklin Funds also indicateds the high Alpha shows the Beta value less than 1.0 which
Value which is healthier for an investor and indicates the fund NAV will be less volatile
HDFC Capital Builder is low in positive value than the benchmark index.
and ICIC Pru Dynamic Plan showed the • The Birla Sun Life India GenNext Fund and
negative value of Alpha which has Franklin India Prima Plus Fund has is showing
underperformed against its benchmark index similar sharpe ratio which indicates that the
Birla Sun Life, HDFC, ICICI, SBI & Franklin fund risk has been adjusted up to the mark and
shows the Beta value less than thus it results that it has outperformed towards
other funds.
Interpretation –
• HDFC, ICICI, SBI & Franklin Schemes shows V. FINDINGS
the Beta value less than 1.0 which indicates the
fund NAV will be less volatile than the 1. The Funds are in category of Large Cap, Small & Mid
benchmark index and Birla Sun Life 95 Fund Cap, Diversified Equity, Equity Linked Saving Schemes
showed theBeta Value of 1.03 which is more and Balanced Schemes which has invested maximum in
volatile than the benchmark index. equities and small proportion in money market
• The SBI Magnum Balanced Fund has high instruments, cash/call and others/unlisted.
sharpe ratio of 0.21 indicates that the fund risk 2. The asset allocation of balanced fund has a major
has been adjusted and resulted into good percentage in Debt which lies between 20 – 32% of total
historical performance and where the Birla Sun net assets.
Life 95 Fund has the low sharpe ratio.
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3. Birla Sun Life Asset Management Company stands 6. The past performance may or may not sustained in
second position in category of Large Cap future as they are subject to market risk so even after that
Funds after SBI Asset Management Company. it assures the investors to provide a high returns on his
4. ICICI Asset Management Company has the last investment for the long term tenure.
position in terms of returns in Large Cap, Diversified By comparing above mentioned schemes all the
Equity and Balanced Fund category. companies are doing considerable achievement in mutual
5. The sector wise allocation in equities has a high fund industry. Therefore investing in a mutual fund the
percentage of net assets is of Banking & Financial investor must study about the NAV growth and market
Services, Information Technology, Automotive, condition and the companies should disclose the funds
Pharmaceuticals and Engineering & Capital Goods. detail to investor as per their objectives and solutions.
6. On the average calculations of five years Birla Sun Also there was a global meltdown before so
Life Mutual Fund has given the highest returns in many mutual funds was given negative or low return.
category Small & Mid Cap, Diversified and ELSS Fund Now, market is recovering from it though there is a
as its portfolio is well managed by Fund Manager. volatile in stock but it’s a right time to invest in equity
7. From the year 2010 to 2015 in last five year Birla Sun funds which are Birla Sun Life MNC Fund, SBI
Life MNC Fund has the highest growth in Net Asset Magnum Mid Cap Fund for the high capital appreciation
Value (NAV) which is about 62.58% in change. and for a long term investments.
8. In last one year return HDFC Top 200 Fund by (-
1.49%), ICICI Pru Top 100 by (-4.10%) Fund, ICICI Pru REFERENCES
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ISSN - 2319 - 2836