In this paper an attempt is made to evaluate the performance of twelve equity growth mutual funds in bull and bear market. The performance evaluation of Indian mutual funds in a bear and bull market is carried out through relative performance index, risk-return analysis, Treynor's ratio, Sharp's ratio, Sharp's measure, Jensen's measure, and Fama's measure.The data used is monthly closing NAVs. The study found out that the growth funds deliver better returns during the bull period than the bear period. The funds that exhibited better returns during the bull period also delivered reasonable returns during the bear period. On comparison with the sensex returns it was found out that the returns on the funds were better that that of the sensex in the bull period and the sensex outperformed the funds during the bear period.
Mutual Funds, Performance Evaluation, Risk-Return Analysis, Growth Funds
