*Department of Commerce, Osmania University College for Women, Hyderabad, E-mail: prashantaathma@gmail.com
**Department of Finance ICBM - School of Business Excellence, Hyderabad, E-mail: maravikanth@gmail.com
Online published on 7 January, 2012.
Mutual Funds are a vehicle to mobilize moneys from investors, to invest in different markets and securities, in line with the investment objectives agreed upon, between the Mutual Fund and the investors. Among the Mutual Funds, it is the mid-cap Mutual Funds which are gaining momentum with good returns to the investors. Hence, the study is focused on the performance evaluation of the select mid-cap Mutual Funds viz., IDFC Premier Equity Fund, SBI Magnum Global Fund, HDFC Mid Cap Opportunities Fund and Birla Mid Cap Fund with regard to select parameters.
The monthly NAVs and Benchmarks over a period of 24 months from June 2008 to May 2010 have been taken. The tools employed for the analysis of data are averages, Standard Deviation (a) and Beta (ft), Sharpe and Treynor index.
Overall ranking points are calculated by summing up the ranks given to each parameter for each of the select Midcap Mutual Funds. HDFC stood first followed by IDFC, SBI and Birla incase of both Growth and Income Options.
All the select Midcap Mutual Funds have performed well during the study period. This is because of the fact that both options viz., Growth and Income Options have showed a positive value due to the overall positive trends in the capital market. The volatility in the market might have affected the ratios but definitely not the performance of the funds.
