Equity, Debt and Balanced Mutual Fund Schemes in India: An Analysis

This Book on Equity, Debt and Balanced Schemes of Mutual Funds in Selected Asset Management Companies (AMCs)¿ evaluates the performance of selected schemes of mutual funds based on risk-return relationship models and measures. A total of 34 schemes offered by 6 different AMCs have been studied over the period of 3 years. The analysis has been made on the basis of return, standard deviation, beta, coefficient of determination, Sharpe index, Treynor index and Jensen Alpha index. Paired sample t-test is also used to find whether there is a significant difference between fund and market return. The overall analysis finds HDFC mutual fund schemes are the best performers and Birla Sunlife mutual fund and Sundaram mutual fund schemes are the poor performers when measured against the risk-return relationship model. Difference in ranking using Sharpe and Treynor index shows that the equity schemes are not well diversified. It is also found that the funds move in the same direction as that of the market. The results of performance measures suggest that most of the selected schemes were able to satisfy investor¿s expectations.