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12 Personal Finance
THE ECONOMIC TIMES | MUMBAI | MONDAY | 10 OCTOBER 2011
How to Make Most of
Stock Research Reports
Q&A
Mutual Funds
VALUE RESEARCH
INVESTING `. 1,500 FOR 15 YEARS
I invest `. 500 each in Franklin India Bluechip Equity, HDFC Top 200 and Reliance
Growth. How much can I expect from this investment after 15 years?
HARVINDERMUDGAL@INDIATIMES.COM
Predicting which way market-related investments will move will be an exercise in futility. However, your monthly investment of
`. 1,500, if made over the next 15 years can accumulate `. 7.5 lakh if the investment earns an
annualised return of 12%, or `. 10.15 lakh if it
earns an annualised return of 15%. Both Franklin India Bluechip and HDFC Top 200 are good
funds, but you should consider exiting Reliance Growth, a mid- and small-cap fund
which has been losing on performance for
some time. You can instead consider investing
in IDFC Premier Equity or BSL Dividend Yield
Plus, which are better in comparison. Continue
investing regularly and assess the progress of
your investments at least once a year.
Check the credibil-
PRASHANT MAHESH
Look at the relevance
RISKY PORTFOLIO
I have started two monthly SIPs since August — one in HDFC Mid Cap Opportunities
(.`2,000) and the other in Franklin India
Bluechip (.`1,000). Are these the right funds
to invest in?
WED
INSURANCE
THU
FINANCIAL PLANNING
FRI
REAL ESTATE & SPENDING
ity of the brokerage
house with friends and
acquaintances
before using a
research report
Some Common Types of Research Reports
Technical
Daily report
ACTING ON A REPORT
Tells you where the market or
stock is headed from a technical
perspective
It sums up the key events and
possible outcomes
of the research report
and the context in
which it is being made
before using it
A quick read helps investors to
know the macro environment
before the start of the trading day
Used mostly by short-term traders
with a view of less than a month
Do not just trust a
research report blindly.
Use that as a base
and do your own due
diligence before acting
on it
Industry
Earnings Preview
Gives a perspective on the
various dynamics of the industry
and how it is expected to perform
Tells you what kind of earnings
various companies are likely to
clock in the coming quarter
Used by investors to track a
industry from a macro perspective
Be wary of unscrupulous brokerages that
come with research
reports to merely
induce a transaction
or dump stocks
Used to get an indication of a
company’s expected earnings
Company
You can judge the quality of reports
from a brokerage house only by
reading them over a period of time.
Details the fundamentals of a
particular company. Generally
has a take on valuations
Understand the
essence of the
report and act on
it in totality
Investors use these reports many
a time to enter or exit stocks
Radhika Gupta
Founder, Forefront Capital
UPNESH
With so many research reports
floating around, the first thing
you have to do is to figure out
whether they serve any purpose.
Remember, your hard earned
money is at stake here. To begin
with, check with your friends
who invest in stocks and advisors
about the quality of the research
reports from a particular source.
Don’t go by their word alone,
though.
Keep track of the reports for a
while to be doubly sure about the
credibility of the report. For example, when you compare what
the analyst said in the report
with what has actually happened
over a period of time, you get a
fair idea about the credibility of
the brokerage house.
“You can judge the quality of reports only if you read them from
the same brokerage house over a
period of time,” says Radhika
Gupta, founder, Forefront Capital.
By investing in mutual funds through systematic investment plans, you gain from the power
of compounding and averaging of investments
over time. You should consider investing in
tax-planning funds that have a three-year
lock-in period and offer, under Section 80C, tax
deduction on investments of up to `. 1 lakh in a
financial year. Consider investing in Canara
Robeco Equity Tax Saver or Religare Tax Plan,
which are highly rated funds with a proven
track record, to invest in. You still have six
months in this financial year to stagger your
investments in this category of funds.
INCOME INVESTING
lated, easy to read and understand
and should reach a logical conclusion. “You need to check if there is
consistency and clarity of thought
process in the report,” says Daljeet S Kohli, head of research, India Nivesh Securities.
MAKING SENSE OF REPORTS
DHARMESH_SHARMA04@YAHOO.CO.IN
GROWTH INVESTING
TUE
Study the report, then do your own research to determine if you should act on its advice
R
GOOD FUND FOR INVESTMENT
I am 28 and earn `. 17,000 every month. I
have made a monthly recurring deposit of
`. 3,000 and my monthly expenses are
`. 10,000. I want to invest `. 1,000 to `. 2,000
every month through SIP. Please suggest a
good fund to invest in.
MON
A Research Report Should Just be Your Starting Point
Reports on stocks are
no more the preserve
of a few, but not all
may be credible or
meant for you
esearch reports are no more
the prized possession of a
chosen few. These days, every investor has access to these reports on companies, as most broking firms and various investor
groups keep sending them via
email to their members. Even otherwise, all one has to do is google
the name of the company and
chances are that you may get at
least half a dozen reports on it. In
short, finding access to research
reports is not the least of the problem faced by investors these days.
Most investors have a tough time
making sense of some of these reports. “An investor may get at least
five research reports daily, but
they would find little value in
most of them,” says Alok Ranjan,
portfolio manager, Way2Wealth.
The Financial Week
ARE THEY MEANT FOR YOU?
Reports differ a great deal in
shapes, sizes, number of pages.
They may also be written after a
particular event, mostly a major
one, in the industry. Or there
could be a daily report, too. The
point is you have to find out
whether the research report is intended to serve you.
“Research reports are written
for various classes of investors.
You need to understand the context in which the research report
was made, and whether it is really meant for you before acting on
it,” says Aseem Dhru, MD and
CEO, HDFC Securities.
For example, there are reports
meant primarily for institutional
clients like mutual funds and foreign institutional investors. These
investors typically invest in largecap stocks. Brokers bring out reports to update clients on quarterly results, the impact of any devel-
opments (the downgrading of SBI
by Moody’s, for instance), and so
on. Institutional investors have to
invest in stocks and they can’t hold
much cash unlike retail investors
who can hold cash or even invest in
debt products. Reports made for
these clients won’t serve the purpose of small investors.
OUTDATED REPORTS
Often, research reports reach
small investors very late. By that
time the whole market would
have read it, acted on the advice
and the stock would have gained
or lost. So, check the date of the
report. It goes without saying
that a report made six months
ago on the banking stock or sector may not have any relevance
today, because of the changes in
the economic scenario and monetary stance of the Reserve Bank
of India. It is possible the analyst
would have changed his/her
views. You would do well to check
with your investment advisor
and be doubly sure about the report rather than assuming things
before taking a final call.
port which tells whether the analyst or promoter holds the stock
or not. Keep an eye for analyst/
broker's stake or action.
WHAT TO LOOK FOR IN A REPORT
CAN THEY BE TRUSTED?
There have been umpteen cases
in the past where unscrupulous
brokers have come up with buy
recommendations and the stocks
have crashed subsequently in a
short period, leaving investors
high and dry. “Many times the
company promoters or a group of
investors want to exit a stock and,
hence, a buy report may be
made,” says Radhika Gupta.
A research report is often used
as a sales tool by brokerage
houses. Hence, an investor needs
to be cautious of too many buy
recommendations coming from
the same brokerage house. Most
reputed brokerage firms have
disclosures at the end of the re-
Check the time frame for which
the recommendation is being
made and the target price recommended by the analyst. This will
help you calculate the returns
you can expect in a stock and take
a decision accordingly. So if the
current market price of a stock is
`. 100 and the target price is `. 125 in
a year’s time, you can expect a
25% return from the stock. Also if
the stock is being recommended
with a time frame of a year, you
can allocate your funds accordingly. Some brokerages come up
with hold recommendations for
investors already invested in the
stock. They also come up with
buy levels for new investors.
The report should be well articu-
Instead of acting solely on the basis of the report, you can also put
in some extra efforts to be on the
safe side. For example, if you
have a buy recommendation, you
could read the annual report of
the company to make sure that
the report got everything right
about the company. You can
check the annual report for factual things like expansion plans
and financial performance. Annual reports of companies are
available on their websites. In
case of a sell report, check the
price movement of the stock. If it
has moved up very fast in a very
short span of time compared
with its peers, it may be a good
idea to sell and book profits.
“If you are really convinced
about a research report and want
to act on it, do a double check by
also reading the annual report
and exchange filings,” says Pankaj Pandey, head of research, ICICI Securities.
FOLLOW A REPORT TO THE LAST
WORD
This specifically happens in the
case of technical call reports. For
example, a report may say: “Buy
Reliance at the current price of
`. 780, with a target of `. 850, and a
stop loss of `. 750.” While many investors buy the stock, what they
don’t or forget to do is to apply the
stop loss. When the stock starts
moving down, they convert their
trading position to long-term investment positions. They then
start reading fundamental reports on the stock and making
opinions. “Investors need to follow the report in totality, even if
it means exiting a stock at a loss,”
says Aseem Dhru.
prashant.mahesh@timesgroup.com
TOMORROW
How to Deal with Tax Issues If You are
Returning to India for Good
MANISHMISHRA15@GMAIL.COM
Large-cap Funds Done in by FIIs, Global Factors to Have
Don’t Lose Your Faith in Them
a Say on the Markets
Both the funds are good and you should continue investing in them regularly. However, you
should be aware that the combined impact of
the fund is risky with 66% of your investments
in the mid- and small-cap category. Make it a
habit to assess the progress made by your investments by tracking the performance of
these funds regularly; at least once a year.
Expert Take
CORPUS FOR HIGHER EDUCATION
I am 23 and earn `. 26,000 every month. I
would like to invest `. 10,000 every month
through SIPs. Please guide me with investments as I am planning to go for higher
education in two years.
UNNIDAMODARAN@GMAIL.COM
Your enthusiasm to invest so early in life and
plan to build a corpus to fund your higher education two years from now are commendable.
You should definitely invest in a tax-planning
fund, such as Canara Robeco Equity Tax Saver
or Religare Tax Plan, to reduce your tax liability. The tax deduction on investments in this
category of funds will be available till March
31, 2012, after which the new tax code will
come into effect. This category of funds does
not find a mention amongst the list of investments that would qualify for tax deductions under the new code. Next, build a core
mutual fund portfolio made up of large-cap
funds such as DSPBR Top 100 Equity or ICICI
Prudential Focused Equity and large- and midcap funds such as HDFC Top 200 or Fidelity Equity, which are all highly rated with a proven
track record. Make sure you track the progress
made by your investments at least once a year
and assess the performance of the funds that
you invest in.
Dhirendra Kumar
CEO
Value Research
If you were to look at the
short-term performance of
various categories of equity
mutual funds on ValueResearchOnline.com right now,
you could be forgiven for assuming that there was a mistake.
The normal pattern that is
followed when the markets
decline stands completely reversed.
Large-cap funds have performed the worst, while
large- and mid-caps funds
have fared slightly better.
But the surprise has been
that the mid- and small cap
funds have performed the
best (or, rather, put up the
least worst performance). To
be precise, large-caps have
Our expert guides you in matters relating to mutual fund. Email to etquerymf@indiatimes.com
declined by 17.7% over the
last six months, large- and
mid-caps by 15.9%, multicaps by 15.6%, and mid- and
small-caps by just 11.9%.
This is precisely the reverse of what is normal in
market declines and turns
the logic for investing in
large-cap investments on its
head. The whole point of investing in large-cap stocks
(and equity mutual funds
that invest in these stocks)
is that large-caps are more
stable as business as well as
stocks.
As businesses, they tend to
have have a lot more momentum, in the sense that it
would take a relatively long
time for any reversal of fortunes to take place.
Large-cap companies tend
to have a much larger floating stock and simply have a
much larger set of investors
invested in them. This makes
them widely tracked and
analysed, which makes it
less likely for news or fact of
importance to stay hidden.
The larger floating stocks
also mean that if you were to
try to sell such a scrip even in
bad times, it would be much
easier and there would be a
lower impact cost compared
with stocks of smaller companies. All these are rules of
thumb and while there are
certainly exceptions they
are true as a whole.
This stability means that
any fund analyst and investment advisor would recommend that equity mutual
funds that invest in such
companies be a core component of an investor's portfolio. I would normally say
that well above 50% of an investor's equity fund holdings should be in such
funds; for an investor who
needs to take a conservative
approach, there's no harm
in having 100% exposure.
The logic is that when the
markets decline, such funds
will decline less.
So what gives? Why has the
current pall of gloom on the
stock markets descended
much more darkly upon
large caps? The answer is
the same simple accusation
that is the Indian investor's
pet complaint: The FIIs did
it. Except that in this case it
appears to be true and usual
suspects really are the villains. You see, FIIs by and
large limit themselves to
the larger cap companies.
Most of them have hard lower limits on the market cap
of the companies they invest in. This effectively
means that in general, the
larger a company, the more
likely it is to have a higher
FII shareholding.
Which is great in normal
times, but means trouble in
times of general FII sell-offs.
Over the last few months, as
FIIs have sold off India in
waves, large-cap stocks have
suffered disproportionately.
And obviously, along with
these stocks, equity mutual
funds that focus on these
stocks have also suffered.
What does this mean for the
investor? The troubles that
are making FIIs skittish
could actually continue for
years, with money flowing in
and out as panic levels rise
and subside.
Does this mean that the Indian investor should reverse
the rationale for investing in
large-caps and conclude that
they are the riskier asset?
Not quite. This logic applies
only in the very short-term.
In the long run, the basic
qualities for which largecaps are more suitable are
more relevant.
Just because one group of
investors is pulling out money doesn't mean that the fundamentals of investing have
been reversed. Large-caps
are safer, more predictable,
better understood and generally immune to problems
that plague smaller stocks.
The last six months are not
going to change that.
Wealth Monitor
EQUITY: Investors saw a relief rally in eq-
uity markets on Friday. But, over the last
week, it was a falling market, with banking sector stocks losing the most.
Credit rating agency Moody’s downgraded State Bank of India, and the entire banking sector stocks, along with
SBI, reacted to the announcement adversely. The Bank Nifty emerged as the
biggest loss making sectoral index with
a 4.54% fall over the last week. Nifty saw
a fall of 55 points and closed at 4,888, recording a loss of 1.12%.
Going forward, markets will remain
watchful about macro-economic factors in Europe. A sovereign default
possibility looms large on the global financial markets. Markets in the short
term are expected to take cues from
the global macro economic factors.
Funds flows from FIIs are expected to
be influenced by liquidity in the global
financial system.
On the domestic front, macro economic factors and corporate earnings will
influence the equity markets. IIP numbers are awaited on October 12. Numbers of the monthly wholesale price index are due on October 14.
Corporate earnings announcements
for second quarter in FY2012 will start
with Infosys Technologies announcing
its results on October 12. “Corporate results will be watched out for any impact
of inflation and rising interest on corporate profitability. Results from IT sector
companies will be keenly awaited by
analysts for the positive impact the depreciating rupee brings in on rupee revenues of the IT companies,” says Kaushik Dani, head of equity, Peerless Mutual
Fund. Market participants are expecting stock-specific movements after corporate earnings are announced, though
the broad index may keep trading in a
narrow range.
FIXED INCOME: Market participants are
expecting the interest rates to peak in
near future. Analysts will wait for further cues from the RBI on the next policy
announcement scheduled for October
25. “Short-term income funds look good
as they are invested at the short end of
the yield curve and in a way are protected from extreme volatility due to rise in
interest rates,” says Rahul Pal, head
fixed income, Taurus Mutual Fund. Liquid and liquid plus funds remain attractive parking spaces for idle money of investors.
GOLD: The ultimate currency, gold, re-
mained in demand on the auspicious occasion of Dussera. Gold recorded a gain
of 1.63% over one week. Gold prices are
expected to remain buoyant due to a rise
in consumption demand from India,
ahead of the festive season.
“In the short term, gold should see resistance in the range of `. 27,500-28,000
and support in the range of `. 22,50023,000,” says Pravin Mokashi, an independent technical analyst. Investors'
quest for a safe haven will further ensure that gold prices remain firm in medium term.
ULIP NAVs Here’s a ready reckoner to track the week-on-week changes in your ULIP portfolio
SCHEME
NAV %CHG
Pension Bal
AEGON RELIGARE
Accelerator
SCHEME
8.42 -1.29
Pension Debt
NAV %CHG
SCHEME
12.80 -0.70
ING VYSYA
11.18 -0.27
Active Asset Al
NAV %CHG
9.50 -0.84
Balanced
12.08 -0.58
Pension Growth 15.37 -1.28
Indiv. UL Bal
Conservative
12.29 -0.49
UL Liquid
Indiv. UL Debt 15.98 -0.31
Debt
14.13
Indiv. UL Eqty 14.68 -1.67
—
Enhanced Equity11.83 -1.25
Group Equity
10.46
EDELWEISS TOKIO
0.16
0.16
Stable
12.53
9.24 -0.54
CANARA HSBC OBC
Bal Plus Life
9.19 -0.65
13.75 -2.69
Growth Super
NAV %CHG
14.84 -1.46
SCHEME
AIP -C
NAV %CHG
13.12 -0.61
SCHEME
NAV %CHG
NAVs in as on 07.10.2011
SCHEME
NAV %CHG
12.20 -1.37
SIP+ MoneyMkt 12.81
GSLI Balanced
12.83 -0.54
New Balanced 10.55 -0.57
SAIP Gilt
0.16
W+HP Energy
9.27 -0.64
Top 300 Pension10.48 -0.85
AP Retu Lockin
AIP Energy
9.27 -0.64
GSLI Corp Bond 12.41 -0.16
New Corp Bond 11.00 -0.09
SAIP Infrastruc
7.01 -1.54
SIP+ PureEqty 12.11 -1.22
W+HP Equity
9.08 -1.73
Unit+II Bal Pen 16.73 -0.71
AggressiveFlexi 11.09 -0.54
Future Sel.Eqty 15.69 -1.01
Bima+ Risk
53.86 -3.56
AIP Equity
10.94 -1.71
GSLI Energy
13.83 -0.58
New Energy
8.66 -0.57
SAIP Midcap
9.45 -2.48
SLI Energy
13.83 -0.58
W+HP Gilt
11.64 -1.36
Unit+II Gr Pens 14.53 -1.02
Aggrresive-G
GrEnabler Life 10.87 -0.64
Bima+ Sec
31.63 -1.16
MktPlus I Bal
11.18 -3.20
Pens Gr Super
AIP Gilt
12.20 -1.37
W+HP Infrastruc 7.01 -1.54
UnitPlus Bal
Apex Investment10.06
0.10
GrMaximiz Life
14.06 -2.70
MktPlus I Bond 12.69 -0.47
Pension Bal
W+HP Midcap
UnitPlus Grow 19.47 -0.92
Apex Invt-2
10.14
0.10
Growth GrPens 12.29 -0.57
11.76 -0.08
MktPlus I Grow 12.41 -3.57
Apex Lockin-2 10.00
—
Child FP Bal
9.05 -1.42
GSLI Equity
17.23 -1.71
New Equity
9.52 -1.65
SAIP Money Mkt13.85
SLI Equity
17.23 -1.71
AIP Infrastruct
7.01 -1.54
GSLI Gilt
11.11 -1.33
New Fund A
9.76 -1.31
SAIP Pure Eqty 10.95 -1.08
SLI Gilt
11.10 -1.33
Pension Conserv14.81 -0.27
AIP Midcap
9.45 -2.48
GSLI Infrastruc 10.44 -1.51
New Fund B
10.23 -0.78
SCP Energy
9.27 -0.64
SLI Infrastruct 10.44 -1.51
W+HP Money Mkt13.10 0.15
GSLI Midcap
8.35 -1.76
SLI Money Mkt 12.34
W+HP Pure Eqty10.95 -1.08
15.25 -0.46
0.14
New Fund C
10.55 -0.57
SCP Equity
AIP Pure Equity 10.95 -1.08
GSLI Money Mkt 12.34
0.16
New Fund D
10.19 -0.78
SCP Fund (G)
11.93 -0.58
SLI Pure Equity 16.88 -1.11
10.22 -1.18
Pens Preserver 11.95 -0.25
Endow +Bal
Money+ Bond
14.18 -1.18
Secured
Discontinued Po 10.35
0.19
GSLI Pure Debt 12.17 -0.65
New Fund E
10.23 -0.78
SCP Fund (H)
10.79 -0.74
SMRP Balanced 17.01 -0.58
9.07 -2.28
Pens Prime Eqty 8.90 -1.55
Endow +Bond
Money+ Grow
10.87 -3.81
UL Money Market10.99 0.18
GG Balanced
13.65 -0.44
GSLI Pure Eqty 16.88 -1.11
New Fund F
10.23 -0.97
SCP Infrastruct
7.01 -1.54
SMRP Energy
Pension Debt
13.31 -0.22
Endow +Gr
9.31 -3.12
Money+ Sec
13.29 -2.99
UL Secure Plus 11.25 -0.35
GG Cap Secure 14.32
GYP Balanced
New Fund G
10.55 -0.57
SCP Midcap
9.45 -2.48
SMRP Equity
10.94 -1.71
Pension Eqty
8.97 -1.64
Endow +Sec
9.49 -2.06
Money+I Bal
13.63 -3.67
New Fund H
10.19 -0.78
SCP Pure Equity 10.95 -1.08
SMRP Growth
18.27 -0.76
Bond Pens
11.36 -0.09
9.69 -0.41
Cautious AA
12.54 -0.32
Eqty Gr Pens
17.66 -1.62
15.25 -1.80
9.36 -2.19
10.70
—
15.98 -0.37
GG Corp Bond
MET
0.14
0.21
15.75 -2.48
17.01 -0.58
12.89 -0.39
GYP Cap Secure 15.43
0.13
Money+I Bond 13.54 -0.44
Accerlerator
21.36 -0.93
GG Equity
13.61
0.15
GYP Energy
9.27 -0.64
New Gilt
10.83 -1.10
SCP Return Shld 12.94 -0.61
SMRP Infrastruc 7.01 -1.54
Money+I Gr
12.87 -3.16
Balancer
18.98 -0.68
GG Gilt
11.31 -0.96
GYP Equity
12.67 -1.71
New Growth
10.19 -0.78
SGYP Balanced 17.01 -0.58
SMRP Midcap
Fortune + Gr
10.70 -3.52
Money+I Sec
14.43 -1.70
Balancer 2
10.08 -0.79
GG Growth
12.75 -0.70
GYP Growth
14.55 -0.82
UL Guar Growth 11.98 -0.42
Fortune + Sec
13.25 -2.21
Pens +Debt
10.60 -0.75
Disconti Policy 10.57
9.75 -1.91
11.29 -2.59
0.19
GG Infrastruc
7.94 -1.49
New Indian Trad 9.25 -0.96
SGYP Energy
9.27 -0.64
SMRP Money Mkt12.34 0.08
7.01 -1.54
New Infra
7.29 -1.35
SGYP Equity
10.94 -1.71
SMRP Pure Eqty 10.95 -1.08
GYP Midcap
9.45 -2.48
New Midcap
8.17 -2.27
SGYP Growth
14.55 -0.82
TIPS1 Corp Bond12.93 -0.23
16.78 -1.64
Profit + Bal
13.57 -1.81
Gratuit Debt
10.82 -0.09
GG Money Market12.82 0.16
GYP Pure Equity10.95 -1.08
New Money Mkt 11.23
21.44 -3.21
Profit + Bond
13.88 -0.22
Gratuity Bal
11.49 -0.35
GG Pure Debt
12.83 -0.54
High NAV Adv2 9.26 -1.17
New Pure Eqty
Balanced
10.22 -2.24
Future+ Inc
16.17 -0.80
Profit + Gr
10.23 -4.03
Moderator
16.68 -0.30
GLE Balanced
11.50 -0.61
High NAV Advt1 8.63 -0.58
New Retu Shield 10.84 -0.55
Debt
11.10
Gratuity+ Bal
15.31 -1.29
Profit + Sec
12.94 -1.90
Multipler
21.84 -1.13
GLE Corp Bond 13.73 -0.22
Highest NAV
10.68 -0.19
Pens Bond New 12.11
0.08
GRF 20001219 11.03 -0.09
Debt Fund1
10.69
—
Gratuity+ Bond 14.73 -0.67
Samridhi Plus
9.41 -3.88
Multiplier 2
GLE Equity
Imaan
12.11 -1.22
Income
12.92
0.16
Debt Pension
11.03
0.09
Gratuity+ Grow 14.44 -2.04
Wealth Plus
9.12 -3.18
NAV Guarantee 10.35 -0.19
GLE Gilt
Income Pens
11.84
0.17
Dynamic A.A.
Preserver
14.26 -0.63
GLE Money Mkt 10.59
0.09
MGP -D
Liquid
12.44
0.08
EBP Bond
10.51
Growth Plus Lif 8.35 -1.07
Liquid Pens
11.58
0.17
EBP Cash
10.33
Guarantee+ Life 9.46 -1.15
MaxiNAV Guarant 9.89 -0.10
EBP Equity
Liquid Life
Midcap
9.32 -2.31
EBP Index
Midcap Pens
9.01 -2.28
INDIA FIRST
0.18
Bal Fund1
GRF 14690413 13.33
0.15
Bal Pension
GRF 15030813 13.03
0.15
GRF 19000619 11.37
—
0.15
Apex Pens 2
Infrastructure
Apex Pens 20-2 8.91 -1.33
Largecap Eq Lif 9.74 -1.52
Apex Plus -2
9.16 -0.76
Sanchay R -G
14.68 -3.99
Daily Protect 3
9.88 -1.10
Sanchay R -Sec 13.69 -0.15
SHRIRAM
Maxima Gr Pens 10.00
—
ApexPens 15Invt10.05 0.10
ST FixInc -Life 13.85
0.14
Conservator
0.15
ApexPens 20Invt10.04 0.10
ST FixInc-GrPen 13.70
ConservatorGold11.50 -0.77
ApexPens Invt 10.00
—
Select Equity
FlexiProtect 2 10.69 -0.65
Defender
10.49 -1.42
ApexPlus Invt
0.20
Stable -G Life
14.85 -0.67
GPF 070211
0.10
Dynamic
11.52 -3.94
ApexRet Lock-in 10.91 -0.82
Stable Flexi
11.34 -0.26
Equity Elite 2
9.99 -0.89
FlexiProtech
15.93 -0.69
14.09 -0.49
TIPS1 Energy
9.39 -0.63
SGYP Midcap
TIPS1 Equity
11.28 -1.74
SGYP Money Mkt12.34 0.08
TIPS1 Gilt
11.59 -1.36
GPF 100710_10 10.39 -0.48
Guardian
15.00 -1.79
ApexRet Lockin210.21 -0.97
Sup Invt Fund
SGYP Pure Eqty 10.95 -1.08
TIPS1 Infrastr
6.90 -1.43
Gr Bal Plus
12.90 -0.23
Guardian Plus
10.34 -2.29
Bal GrPens
12.53 -0.32
Sup Rtn Lock-in 9.06 -1.09
RPL Corp Bond 12.40 -0.24
SIP Corp Bond 12.83 -0.23
TIPS1 Midcap
9.52 -2.46
Gr Debt Plus
11.76
0.09
Guardian Shield 10.19 -1.45
Balanced Life
19.51 -0.76
SupSel Eqty Pen 10.06 -0.98
RPL Energy
13.83 -0.58
SIP Energy
9.90 -0.60
TIPS1 MoneyMkt13.03
Gr ST Plus
10.16
0.10
Maximus
15.08 -2.82
Bond
11.71
—
Super Sel. Eqty 10.63 -0.84
13.08 -0.76
RPL Eqty
17.23 -1.71
SIP Equity
11.29 -1.74
TIPS1 Pure Eqty 10.95 -1.08
Group Growth+ 12.63 -0.55
Maximus Gold
11.45 -4.05
Bond GrPens
13.11 -0.15
Super110%CG Lif10.71 -0.09
11.65 -1.35
TIPS2 CorpBond 12.92 -0.23
Hori Bond
17.41 -0.06
Maximus Plus
10.57 -3.08
CapGuar Life
12.15 -0.33
Top200
16.67 -1.71
Hori Eqty
34.73 -1.39
Preserver
10.78 -0.18
Discontinuance 10.46
Top50
15.00 -1.38
Protector
12.03 -0.50
Eqty Group Pens30.39 -1.65
WL Midcap Agg G13.68 -1.01
Secure Plus
10.84 -1.27
Equity Life
WL Midcap Eqty 12.43 -2.05
Insu Bond New 12.09
—
9.45 -2.48
0.15
10.39
Preserver 2
11.02 -0.72
GLE Pure Debt 13.03 -0.61
MGP -E
13.09 -0.83
RPL Gilt
11.10 -1.33
SIP Gilt
Health Protect 10.93 -1.80
Conservative
19.10 -0.21
Protector
15.29 -0.13
GRPS1 Insu.Bond12.85
—
MGP -F
12.98 -0.99
RPL Infrastr
10.44 -1.51
SIP Infrastr
7.23 -1.50
TIPS2 Energy
J.Saathi +Bal
11.14 -0.27
GRPS1 Pens.Bond12.86
—
MGP Return Shld13.72 -0.58
RPL Midcap
15.75 -2.48
SIP Midcap
9.13 -2.56
TIPS2 Equity
11.28 -1.66
Hori MoneyMkt 14.24
0.14
16.80 -0.59
MRP Balanced 17.01 -0.58
RPL Money Mkt 12.34
TIPS2 Gilt
11.59 -1.36
Hori2 Bond Pens14.89
—
MRP Cap Secure 15.37
RPL Pure Eqty 16.88 -1.11
SIP Pure Equity 12.11 -1.22
TIPS2 Infrastr
6.89 -1.43
Hori2 EqtyPens 12.31 -1.20
Tyaseer
9.34 -2.97
Fut Bal Pension 12.32 -0.24
WL Stable (G)
9.55 -2.45
Index
9.53 -0.83
Wealth Creator
8.73 -3.96
Fut Cap Gur Pen 11.78 -0.25
WholeLife ST FI 13.43
Index Pension
9.89 -0.90
TATA AIG
Fut Eqty Pen
Wholelife Incom 13.29 -0.15
9.39 -0.63
J.Saathi +Sec
10.02 -5.20
Gr SupAnnuat-G 12.56 -0.55
Virtue
9.33 -0.74
GSA Corp Bond 11.75 -0.25
MRP Energy
9.27 -0.64
SAIP A
11.06 -1.25
SIP+ CorpBond 12.83 -0.23
TIPS2 Midcap
9.98 -3.47
Jeevan+ Bal
14.59 -1.55
GrGratuity Bal 15.68 -0.51
Virtue 2
9.09 -0.76
GSA Equity
10.04 -1.76
MRP Equity
25.68 -1.72
SAIP B
12.33 -0.80
SIP+ Energy
TIPS2 MoneyMkt13.02
8.25 -3.83
Jeevan+ Bond 14.67 -0.07
GrGratuity Cons 14.44 -0.28
GSA Gilt
10.29 -1.34
MRP Growth
18.27 -0.76
SAIP C
13.12 -0.61
SIP+ Eqty
11.29 -1.74
TIPS2 Pure Eqty 10.95 -1.08
MoneyMkt Pens 12.61
0.16
110% CapGuarant11.17 -0.27
Jeevan+ Grow 20.71 -3.00
GrGratuity Grow 14.47 -0.89
AIP -A
11.06 -1.25
GSA Growth
10.44 -0.76
MRP Infrastruct 7.01 -1.54
SAIP Corp Bond 13.88 -0.22
SIP+ Gilt
11.65 -1.35
W+HP -A
9.41 -1.26
PE Managed
8.78 -1.13
AP 10Ret Lockin 9.84 -0.91
Jeevan+ Sec
Growth
AIP -B
12.33 -0.80
GSA Money Mkt 12.34
MRP Midcap
SAIP Energy
SIP+ Infrastruc
7.23 -1.50
W+HP -B
10.84 -0.82
RGF 070311
10.02 -0.69
AP 15Ret Lockin 9.67 -1.23
Liquid Pension 10.98
0.18
—
21.94 -0.45
9.96 -3.58
—
9.99
Balanced
Equity
10.00
10.07
16.14 -0.98
SGYP Infrastruc 7.01 -1.54
0.18
9.25 -0.96
GSA Cap Secure 12.75
Liquid
0.19
15.44
ApexPens 10Invt10.07 0.10
Return GuaranI 10.79
Index Tracker
0.19
Liquid Life
9.97 -2.39
Gr SupAnnuat-Co11.50 -0.26
13.04 -1.29
Liq. Group Pens 15.74
Apex+Ret Lockin 9.86 -0.90
ConservPlatinum11.10 -1.96
J.Saathi +Grow 10.29 -3.20
Growth
8.42 -2.09
Balancer
13.12 -0.91
8.59 -3.34
Equity Pension
8.82 -1.12
14.74 -0.14
Equity Elite
Eqty Fund1
9.23 -3.44
10.00
8.89 -1.00
Eqty Optimiser 10.98 -1.08
GSA Balanced
13.28 -0.75
8.23 -1.08
Income Life
Sanchay R -Bal 16.52 -1.73
Return Guaran2 10.68 -0.09
Moderate AA
Pure Fund
0.10
Samanvay R Prim 8.66 -4.73
Protector 2
12.10 -0.49
Pens Dyna Eqty 15.76 -1.44
11.54 -1.95
22.88 -1.08
Inc. Group Pens 15.36 -0.13
Gr SupAnnuat-B 13.52 -0.52
Debt
9.44 -1.15
Health Plus
8.59 -1.60
12.40 -1.35
Growth Life
9.16 -0.87
Apex Pens 15-2 8.89 -0.67
Daily Protect 2
Eq Opt Pension 11.03 -1.08
14.58 -1.15
—
Apex Pens 10-2 8.90 -1.11
Dynamic Oppor 12.86 -0.77
13.06
14.97 -1.12
0.10
MAX NEW YORK
10.99 -2.40
8.77 -0.57
9.88 -0.90
12.85 -3.38
9.74 -2.11
Mly Interest
Nifty Pens
15.32 -1.16
9.46 -1.15
GG Midcap
SBI
Daily Protect
SAHARA
R Smart
J.Saathi +Bond 11.28 -0.27
12.96 -0.92
Nifty Index
Gratuity+ Inc
9.99 -3.07
9.36 -1.58
9.45 -2.48
18.05 -0.72
—
Balanced
Large Cap Eqty 13.19 -1.49
0.18
—
Flexi Cap
9.45 -2.48
GYP Infrastruct
14.64
Discontinue Pol 10.02
9.27 -0.64
Fortune + Bond 13.35 -0.30
Fortune + Bal
Pension Liquid 12.90
Future+ Grow
Debt Plus Life 10.59 -0.19
0.16
Pension Liquid 11.87 -0.42
Pension Equity 10.09 -1.66
0.16
Fut Income Pens12.42
AIP Corp Bond 13.88 -0.22
11.50 -1.63
AIP Money Mkt 13.85
14.44 -1.70
NAV %CHG
Fut Growth Pens12.08 -0.33
High Growth
Pension Secured14.15 -0.28
IDBI FEDERAL
SCHEME
AP 20Ret Lockin 9.72 -1.22
Guaranteed Inc 12.76 -0.31
Pension Growth 16.73 -0.71
Aggresive AA
NAV %CHG
Guaranteed Dyna13.19 -0.45
11.29 -3.01
9.25 -0.32
Mkt Shield Guar 8.11
SCHEME
15.16 -0.13
Market+ Bond
Future+ Bond
DLF PRAMERICA
10.88 -0.82
SIP+ Midcap
Future+ Bal
0.16
Top 300
10.94 -1.71
9.24 -2.15
12.56
W+HP Corp Bond13.01 -0.23
SAIP Equity
10.30 -2.12
11.63 -0.94
9.13 -2.56
MRP Pure Equity10.95 -1.08
12.97 -2.70
GRF 13380714 11.30
Growth Life
NAV %CHG
Money+ Bal
Equity Growth 12.20 -1.61
9.64 -0.92
SCHEME
MktPlus I Sec
12.73 -0.62
Growth 2 Life
NAV %CHG
Child FP Sec
13.35 -0.15
9.23 -1.18
SCHEME
Child FP Grow 14.06 -3.23
Debt Life
11.47 -1.12
NAV %CHG
14.17 -1.60
Child FP Bond
Balanced Life
Equity Life
SCHEME
GSA Pure Debt 12.49 -0.64
Pens +Mixed
Equity 2 Life
NAV %CHG
—
0.10
Balanced 2 Life 10.10 -0.59
0.20
SCHEME
Market+ Sec
Market Shield
CGF 07090614
SCHEME
Market+ Grow 13.69 -3.79
9.71 -1.84
Top 250
NAV %CHG
38.66 -2.08
LIC
Bima+ Bal
9.87 -0.50
PE Based
Secured
Market+ Bal
Managed Fund
Pension Debt
Pension Secure 12.19
8.56 -3.58
Eqty LargeCap
Money Market 10.09
Pension Index 17.81 -1.11
Value
Indiv. UL Secur 17.11 -0.35
10.11
Pension Balance 13.02 -0.53
—
SCHEME
0.10
Bond
NAV Protector 10.49 -0.29
11.95
17.79 -0.56
NAV %CHG
Indiv. UL Growt 19.37 -1.02
8.83 -1.23
Pension Equity 18.82 -1.21
0.10
SCHEME
14.57 -1.35
28.55 -0.87
—
RELIANCE
0.16
0.08
0.13
9.45 -2.48
0.16
9.27 -0.64
SIP Money Mkt 12.81
0.16
9.90 -0.60
0.15
0.10
28.50 -1.55
11.04 -1.69
12.80 -0.70
0.15
For a comprehensive list of net asset values (NAVs,) shortand long-term returns on hundreds of fund schemes log on to mf.economictimes.com and click on Databank