New Delhi: Even as overall stock market conditions remain subdued with a few bouts of uptrend, as many as 38 mutual fund schemes have given better returns than the benchmark indices Sensex and Nifty so far this year.
While Sensex and Nifty have gained 12.78 percent and 14.16 percent respectively since the beginning of 2012, the surge has been higher for a total of 38 equity funds of various fund houses, led by Reliance Mutual Fund.
Reliance Mutual Fund’s Reliance Banking Fund (Growth) and Reliance Tax Saver (ELSS) Fund (Growth) have topped the list with year-to-date returns of 28.35 percent and 25.12 percent respectively, followed by ICICI Pru Discovery Fund (Growth), Reliance Equity Opportunities Fund (Growth) and IDFC Sterling Equity Fund (Growth) at the third, fourth and fifth slots.
There are three Reliance Mutual Fund (RMF) schemes among the top five in terms of year-to-date returns, while the top 20 include as many as eight RMF schemes.
A total of 10 Reliance MF schemes have outperformed both Sensex and Nifty, while five HDFC MF schemes have given better returns than the two benchmark indices so far in 2012.
As many as eight mutual fund schemes have given more than 20 percent returns in this period, while gains are over 10 percent for a total of 50 schemes.