A comparative study of public (SBI & UTI) & private (HDFC & ICICI) asset management companies funds (balanced, gilt (long term &short term) on the basis of NAV, fund average return, risk from jan 2010 to march 2011

Indian Mutual fund industry has witnessed a structural transformation during the past many years. Balanced Funds and the GILT-Short term and Long term funds areamong the most successful instruments grown at a fairly rapid pace in emerging markets and India is no exception to it. This paper aims at evaluating the performance of these funds in public and private asset management companies respectively from Jan 2010 to March 2011. For this purpose we have used annual returns based on NAV(Net Asset Value). CRISIL has been used as a proxy for benchmark return, while annual yields on 364-day Treasury bill as a surrogate for the Risk free rate of Return.The investment performance has been measured in terms of Sharpe's Ratio, Treynor's Ratio and Jensen Ratio. The Empirical result reported somewhat mixed results. In balance fund ICICI mutual fund was the best. In Long term GILT fund UTI mutual fund performed better than others.On the basis of profitability SBI got first rank from all public sector funds.