Mutual fund financial performance analysis

The performance of four mutual funds operated by private sector banks, two each from HDFC and ICICI Prudential Mutual fund are being reported. The period of study being, from the financial year 2002-03 to 2011-12. The funds were compared with S&P CNX Nifty market Index by correlation and standard deviation. The interest offered by State Bank of India on Savings Bank was taken as the risk free return. The statistical Evaluation parameters include, Sharpe’s Index, Treynor’s Ratio, Jensen’s alpha, Fama’s Measure and M².