Bharatkumar Devrambhai Prajapati, Bharat Manabhai Prajapati


Mutual funds are vehicle to mobilize large corpus of money as per committed investment objective. In mutual fund Industry the word ‘fund’ and ‘scheme’ are inter-changeable. Mutual fund offer investor the opportunity to earn an income or build their wealth through professional management of their investible fund irrespective of investor’s expertise. We analyzed performance of diversified equity funds in India during 2003 to 2009 based on the popular measurement techniques, i.e. Sharpe, treynor and Jensen. We drill down market in three phases to have better transparent result based on three Comparison criteria, i.e. Average Return, Standard Deviation, and Return to variability ratio. Study results shows mutual fund outperformed the market during up trend market. Then we have selected top-20 schemes using return based rank of the respective scheme. After we have used spearmen’s rank correlation to measure the relationship between the ranks given by various measurement techniques.

Key Words: Mutual Funds, Fund, Scheme, Investor, Professional management, diversified Equity funds, Measurement techniques, Sharpe, treynor, Jensen, Comparison Criteria, Average Return, Standard Deviation, Return to variability ratio, Spearmen’s rank correlation


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ISSN : 2251-1571