GEM GAZE
May 2011
Index investing has not gained the requisite momentum as active investing in India. Nevertheless, for the benefit of those who believe in passive investing, we have culled out the GEMs in the Index Fund category that can adorn your portfolio.
With two funds joining the “GEMGAZE” bandwagon, the May 2011 GEMGAZE sparkles with five GEMs in all.
Benchmark Banking BeES Gem
Incorporated in May 2004, Benchmark Banking BeES has an AUM of Rs 271.2 crore, an increase of nearly four times in the past year. A predominantly largecap fund, the fund has 99.83% in equities from the banking sector. The one-year return of the fund is 16.91% when compared to the category average of 15.80%. The fund is benchmarked against the CNX Bank Index. The expense ratio of the fund is very low at 0.5% and the portfolio turnover ratio is 389%.
ICICI Prudential Index Fund Gem
ICICI Prudential Index Fund, incorporated in February 2002, sports an AUM of 92.01 crore. A predominantly largecap fund, as is the case with all index funds, 96.33% of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 54.01% of the portfolio. The one-year return of the fund is 10.14 % when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is high at 1.5% and the portfolio turnover ratio is 67%.
Can Robeco Nifty Index Fund Gem
Can Robeco Nifty Index Fund, incorporated in October 2004, sports an AUM of a paltry Rs 4.98 crore. A predominantly large cap fund, as is the case with all index funds, 97.35% of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 58.59% of the portfolio. The one-year return of the fund is 9.02% when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is 1 % and the portfolio turnover ratio is a mere 8%.
Franklin India Index Fund Gem
Incorporated in July 2000, the AUM of Franklin India Index Fund – Nifty and Sensex have remained almost stagnant at Rs 130.07 crore and Rs 60.74 crore since 2010. A predominantly large cap equity fund, 59.06% and 59.9% of the assets are invested in the top three sectors- finance, energy, and technology. The one-year return of the fund is 9.15% and 9.43% respectively as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty and the Sensex respectively. The expense ratio of the fund is 1% and the portfolio turnover ratio is only 12.74 % and 19.02% respectively.
Principal Index Fund Gem
Principal Index Fund, incorporated in June 1999, sports an AUM of a paltry Rs 18.38 crore. A predominantly large cap fund, as is the case with all index funds, 99.6 % of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 58.88% of the portfolio. The one-year return of the fund is 8.95% when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is 1 % and the portfolio turnover ratio is a mere 0.6%.
Birla Index Fund
Incorporated in September 2002, the AUM of Birla Index Fund has been almost stagnant at Rs 34.71 crore since 2010. A predominantly largecap equity fund, 50.04% of the assets are invested in the top three sectors - finance, energy, and technology. The one-year return of the fund is a mere 8.08% as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is very high at 1.5% and the portfolio turnover ratio is 153%.
UTI Index Equity Fund
Incorporated in March 2000, the AUM of UTI Index Fund has dipped marginally to Rs 204.18 crore from 2010. A predominantly largecap equity fund, 59.92% of the assets are invested in the top three sectors- finance, energy, and technology. The one-year return of the fund is a mere 8.81% as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is very high at 1.5% and the portfolio turnover ratio is 44.17%.
Tata Index Nifty Fund
Incorporated in February 2003, the AUM of Tata Index Nifty Fund has been almost stagnant at Rs 7.72 crore since 2010. A predominantly largecap equity fund, 58.97% of the assets are invested in the top three sectors- finance, energy, and technology. The one-year return of the fund is 8.73% as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is very high at 1.5% and the portfolio turnover ratio is 21%.
SBI Magnum Index Fund
SBI Magnum Index Fund, incorporated in January 2002, sports an AUM of a paltry Rs 25.76 crore. A predominantly large cap fund, as is the case with all index funds, 98.19 % of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 59.19 % of the portfolio. The one-year return of the fund is 9.04% when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is high at 1.5 % and the portfolio turnover ratio is 150%.
May 2011
Index investing has not gained the requisite momentum as active investing in India. Nevertheless, for the benefit of those who believe in passive investing, we have culled out the GEMs in the Index Fund category that can adorn your portfolio.
With two funds joining the “GEMGAZE” bandwagon, the May 2011 GEMGAZE sparkles with five GEMs in all.
Benchmark Banking BeES Gem
Incorporated in May 2004, Benchmark Banking BeES has an AUM of Rs 271.2 crore, an increase of nearly four times in the past year. A predominantly largecap fund, the fund has 99.83% in equities from the banking sector. The one-year return of the fund is 16.91% when compared to the category average of 15.80%. The fund is benchmarked against the CNX Bank Index. The expense ratio of the fund is very low at 0.5% and the portfolio turnover ratio is 389%.
ICICI Prudential Index Fund Gem
ICICI Prudential Index Fund, incorporated in February 2002, sports an AUM of 92.01 crore. A predominantly largecap fund, as is the case with all index funds, 96.33% of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 54.01% of the portfolio. The one-year return of the fund is 10.14 % when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is high at 1.5% and the portfolio turnover ratio is 67%.
Can Robeco Nifty Index Fund Gem
Can Robeco Nifty Index Fund, incorporated in October 2004, sports an AUM of a paltry Rs 4.98 crore. A predominantly large cap fund, as is the case with all index funds, 97.35% of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 58.59% of the portfolio. The one-year return of the fund is 9.02% when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is 1 % and the portfolio turnover ratio is a mere 8%.
Franklin India Index Fund Gem
Incorporated in July 2000, the AUM of Franklin India Index Fund – Nifty and Sensex have remained almost stagnant at Rs 130.07 crore and Rs 60.74 crore since 2010. A predominantly large cap equity fund, 59.06% and 59.9% of the assets are invested in the top three sectors- finance, energy, and technology. The one-year return of the fund is 9.15% and 9.43% respectively as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty and the Sensex respectively. The expense ratio of the fund is 1% and the portfolio turnover ratio is only 12.74 % and 19.02% respectively.
Principal Index Fund Gem
Principal Index Fund, incorporated in June 1999, sports an AUM of a paltry Rs 18.38 crore. A predominantly large cap fund, as is the case with all index funds, 99.6 % of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 58.88% of the portfolio. The one-year return of the fund is 8.95% when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is 1 % and the portfolio turnover ratio is a mere 0.6%.
Birla Index Fund
Incorporated in September 2002, the AUM of Birla Index Fund has been almost stagnant at Rs 34.71 crore since 2010. A predominantly largecap equity fund, 50.04% of the assets are invested in the top three sectors - finance, energy, and technology. The one-year return of the fund is a mere 8.08% as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is very high at 1.5% and the portfolio turnover ratio is 153%.
UTI Index Equity Fund
Incorporated in March 2000, the AUM of UTI Index Fund has dipped marginally to Rs 204.18 crore from 2010. A predominantly largecap equity fund, 59.92% of the assets are invested in the top three sectors- finance, energy, and technology. The one-year return of the fund is a mere 8.81% as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is very high at 1.5% and the portfolio turnover ratio is 44.17%.
Tata Index Nifty Fund
Incorporated in February 2003, the AUM of Tata Index Nifty Fund has been almost stagnant at Rs 7.72 crore since 2010. A predominantly largecap equity fund, 58.97% of the assets are invested in the top three sectors- finance, energy, and technology. The one-year return of the fund is 8.73% as against the category average of 8.92%. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is very high at 1.5% and the portfolio turnover ratio is 21%.
SBI Magnum Index Fund
SBI Magnum Index Fund, incorporated in January 2002, sports an AUM of a paltry Rs 25.76 crore. A predominantly large cap fund, as is the case with all index funds, 98.19 % of the assets are in equities. The top three sectors, finance, energy, and technology, constitute 59.19 % of the portfolio. The one-year return of the fund is 9.04% when compared to the category average of 8.92 %. The fund is benchmarked against the S&P CNX Nifty. The expense ratio of the fund is high at 1.5 % and the portfolio turnover ratio is 150%.
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