A study of performance analysis of equity funds with respect to different styles used by fund managers (1999–2009)

Mutual Funds Manager adopted different styles for framing portfolio of different funds as per the investives objectives of the investors and as per the degree of risk the they can take.Generally most prevelant styles are Growth and Contra. Growth style manager believe to invest in growth stock and put them in the portfolio whereas contra style managers believe to invest in value stocks ie those stocks which are underperforming.This paper is a part of thesis work and has dealt with 32 mutual funds out of which 11 are contra style funds and 22 are growth styles.In India Contra style is not so attractive as Growth ones.This paper tries to highlight which style have performed the best during the sample period (1999–2009)and also whether their performance depends on ownership of AMC (Joint venture, public, private, Foreign), Market cap of the funds(large cap, mid cap, small cap), open ended/close ended wise. It is obtained that Growth style performs better than Contra ones.And of all the ownership pattern, Growth style Funds with Joint venture and Foreign excels far better than others.Also open ended one perform better than close ended. Market cap wise, large cap & mid cap funds with growth style are better performers.