Comparative Analysis of Birla Sun Life Mutual Fund Schemes with other Asset Management Company's Schemes

The present paper investigates the performance of funds of each Asset Management Company in a different category of schemes. The analysis is based on particular date of last 5 years returns and performance. The funds are taken are only of Open Ended Schemes, Regular Plan and Growth Option. Yearly NAV of different schemes have been used to calculate the returns from the fund schemes. The risk measurement tools used to analyse the performance of the selected schemes were evaluated on the basis of Alpha, Beta, Standard Deviation, Sharpe Ratio and R-Squared. The study revealed that Birla Sun Life Mutual Fund & SBI Mutual Fund have overall outperformed in the terms of returns as well as growth in the Net Asset Value (NAV). The results also showed that some of the schemes had underperformed these schemes were facing the diversification problem. In the study, the Value of Beta which was found that only Birla Sun Life 95 Fund, HDFC Top 200 Fund and HDFC Tax Saver is more than 1.0 which indicates the fund is more volatile than the benchmark index and other funds have found out that the value of beta is less than 1.0 which is less volatile than benchmark index.