March, 2016 INVESTOR JOURNAL KARVY’s€¦ · benefit of rupee cost averaging. If you had invested...
Transcript of March, 2016 INVESTOR JOURNAL KARVY’s€¦ · benefit of rupee cost averaging. If you had invested...
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KARVY’s
March, 2016
INVESTOR JOURNAL
www.karvyvalue.com
What’s InsideMarket Review
Page 01
Karvy Investment InsigntPage 03
Fund of The MonthPage 04
Industry NewsPage 05
Readers CornerPage 06
Story of The MonthPage 07
SIP PerformancePage 08
Category Average ReturnsPage 09
Fixed Deposits SchemesPage 10
Equity Funds PerformancePage 11
Debt Funds PerformancePage 12
Global Markets at a GlancePage 13
Indices WatchPage 14
Budget Highlights2016-2017
Finally, the d-day arrived and Union budget was presented by the honorable Finance Minister.
Expectations were galore, especially by the middle class. Has the budget managed to match these expectations? Here are some highlights of the budget which will give you the answer:
» Additional Rs. 50,000 exemption for first time home buyers on housing loans up to Rs. 35 lakh, provided cost of house is not above Rs. 50 lakh. This takes the total interest exemption on home loans to Rs. 2.5 lakh.
» Govt to levy 1 % infra cess on small cars, 2.5 % on diesel and 4 percent of SUVs for anti pollution.
» Tax rebate under section 87 increased from Rs. 2000 to Rs.5,000 for income less than Rs.5 lakh.
» To impose additional duty on jewellery.
» 40% of the NPS corpus that an investor can withdraw on maturity is proposed to be made tax free.
KARVY’sINVESTOR JOURNAL
Fund of the MonthICICI PRU BALANCED ADVANTAGE FUND(G)
To provide capital appreciation and income distribution to the investors by using equity derivatives strategies...March, 2016
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INVESTOR JOURNALMarch, 2016
Market Review
World markets are expected to continue the disastrous run aka
slowdown in China. Most of the export economies including South Korea have witnessed significant fall in exports, which is comparable to 2008 financial crisis. Equity markets across the world fell during the month with concern of a slowdown and a severe fall in commodity prices. Among major central banks, Japan announced negative interest rates to get their economy and markets moving. In US - the Fed, in its meeting, also noted the recent turmoil. Market participants expect it to halt the rise in interest rates, which was set in motion in December last year.
Back to India - Reform progress, control of fiscal deficit, progress on problems plaguing PSU banks will be some of the areas where market participants will look for direction. Third quarter results of listed Indian companies also kicked off during the previous month. The much talked about Economic recovery is yet to kick off. However, profitability of companies has been growing well, thanks to commodity price fall. CPI inflation as per RBI projection could come down to 5% level by January 2017, which will induce RBI to cut repo rates in the coming months, which makes long term bonds attractive.INR ended the month of Jan at 68.2 against the USD.Taking a cue from the Global market, Indian broader indices remained volatile for most part of the month. It was a disastrous month for Sensex as well as Nifty yet again, both ending the month down by 7.34% and 7.53% respectively. In the corresponding period, FIIs were net sellers in Equity segment worth around 6281 Crores and in Debt segment worth 8554 Crores respectively.Mutual Funds were net buyers in both Equity and Debt to the tune of 4383 Crores and 25695 Crores respectively.
1.Foreign Trade: The country’s merchandise exports contracted by 13.60% (Y-o-Y) to USD 21.08 billion in Jan’16 as against USD 24.39 billion recorded in Jan’15. Cumulative exports for Apr’15-Jan’16 also decreased by 17.65% to USD 217.68 billion in comparison to previous fiscal.
The country’s merchandise imports bills eased to USD 28.71 billion in Jan’16 from USD 32.27 billion recorded a year ago.
Oil imports eased further falling by 39.01% (Y-o-Y) to USD 5.03 billion in Jan’16.
The non-oil imports fell down marginally by 1.40% in Jan’16 to USD 23.69 billion vis-à-vis imports of USD 24.02 billion recorded in same period of previous fiscal.
2.Inflation:
Wholesale Price Index‐ based inflation for Jan’16 stood at -0.90% vs -0.73% in Dec’15.
Food article inflation, which was 6.31% in the month of Dec’15 rose by 6.66% yoy.
The fuel inflation stood at 0.94% in Jan’16 from 2.01% in the month of Dec’15.
CPI in Jan’16 was at 17 month high of 5.69%.
3.Index of Industrial Production (IIP):
Index of Industrial Production (IIP) for Dec’15 stood at -1.3% against -3.2% in previous month.
Manufacturing output showed rebound of 11.7% in Dec’15 against -8.6% in Nov’15.
Basic Goods expanded by 0.46% in
Dec’15 against -0.71% in Nov’15.
Capital goods contracted by -19.69% in Dec’15 against -24.51% in Nov’15.
Among the BSE sectoral indices, Telecom was the only one which ended the month positive by 1.86% while IT, Consumer Durables, Healthcare and FMCG were the major losers ending the month in negative closing lower by 8.37%, 7.90%, 6.69% and 4.33% respectively.
Among the NSE sectoral indices, VIX was the lone outperformer which ended the month positive by 12.63% while major indices such as Realty, IT, PSU, Infra and Pharma ending the month in the negative territory by 15.31%, 9.08%, 8.03%, 7.62% and 4.89% respectively.
Among the major Asian Indices, it was a positive month for Taiwan and Straits which ended up by 3.12% and 2.46% respectively. Nikkei and Hangseng ended negative by 11.30% and 2.47% respectively.
It was a positive month only for FTSE 100 which ended positive by 0.61% while other European indices were in negative with BEL-20, DAX and CAC 40 ending the month lower by 3.35%, 2.69% and 0.88% respectively.
Among Major American Indices, only Dow Jones ended the month in positive, going up by 0.41% while other indices such as NASDAQ, NYSE and S&P 500 ended the month lower by 1.35%, 0.59% and 0.37% respectively.
Among the major indices across the world, Bovespa, Brazilian index ended higher by 5.48%.
Apart from FII and MF activity, Key domestic data released in the month of February were:
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INVESTOR JOURNALMarch, 2016
S&P BSE SENSEXDate Close Price Points Diff %age Change
2/1/2016 24,824.83
2/4/2016 24,338.43 -486.40 -1.96%
2/8/2016 24,287.42 -51.01 -0.21%
2/15/2016 23,554.12 -733.30 -3.02%
2/22/2016 23,788.79 234.67 1.00%
2/29/2016 23,002.00 -786.79 -3.31%
-7.34%
CNX Nifty IndexDate Close Price Points Diff %age Change
2/1/2016 7555.95
2/4/2016 7404 -151.95 -2.01%
2/8/2016 7387.25 -16.75 -0.23%
2/15/2016 7162.95 -224.30 -3.04%
2/22/2016 7234.55 71.60 1.00%
2/29/2016 6987.05 -247.50 -3.42%
-7.53%
Sensex & Nifty:
MF Activity: (Month Between 01-Feb-2016 to 29-Feb-2016)
EquityDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Feb-16 710.90 1,090.30 -379.40
8-Feb-16 906.60 779.40 127.20
15-Feb-16 1,788.40 903.40 885.00
22-Feb-16 766.60 482.70 283.90
25-Feb-16 2,400.70 1,692.00 708.70
Feb-16 21,520.90 17,137.20 4,383.70
DebtDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Feb-16 7,178.80 4,531.50 2,647.30
8-Feb-16 3,647.80 2,898.80 749.00
15-Feb-16 3,995.70 3,491.20 504.50
22-Feb-16 5,830.60 4,112.70 1,717.90
25-Feb-16 13,781.10 5,745.70 8,035.40
Feb-16 104,446.10 78,750.50 25,695.60
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FII Activity: (Month Between 01-Feb-2016 to 29-Feb-2016)
EquityDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Feb-16 4,281.44 3,876.76 404.68
8-Feb-16 1,875.87 1,914.94 -39.07
15-Feb-16 3,667.96 4,791.01 -1,123.05
22-Feb-16 2,750.12 3,031.82 -281.70
26-Feb-16 2,834.32 3,418.63 -584.31
Feb-16 67,472.37 73,753.60 -6,281.23
DebtDate Gross Purchase (Cr.) Gross Sale (Cr.) Net (Cr.)
1-Feb-16 2,255.26 640.15 1,615.11
8-Feb-16 427.29 33.45 393.84
15-Feb-16 583.35 1,110.17 -526.82
22-Feb-16 805.63 2,203.52 -1,397.89
26-Feb-16 758.76 2,527.97 -1,769.21
Feb-16 13,173.56 21,727.95 -8,554.39
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INVESTOR JOURNALMarch, 2016
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Karvy Investment Insignt
Peace of mind and a sizable corpus in the long term
Karvy Value brings to you investment wisdom to help you make sound investment decisions and reach your goals faster. These inputs may not help you become wealthy in a short span of time, but they would definitely give you peace of mind and a roadmap for your financial journey.
» Save Money Systematically : Not only do systematic investments lend discipline to our personal finance; they also help in saving money regularly which, many a times, gets wasted in non-discretionary expenses. Make a commitment of putting some amount of money every month into Monthly SIPs. SIP investors get the benefit of rupee cost averaging. If you had invested through SIP in any of the top-5 performing large-cap mutual funds, you would have got an astounding return of more than 65% in the 1 year period and 35% in the three year Period. So, save first and spend later. That way, you can control your monthly household budget as well.
» Curtail Your Expenses : How often do we buy something which we generally don’t use? There is a difference between need and want, and often, we get caught in buying the products or services we don’t actually require. Your neighbour purchasing a swanky car doesn’t make a case for you to do the same. Really, neighbour’s envy is not the owner’s price... that was just a marketing gimmick. Make a wise decision before committing to huge expenses that may lead to stress on finances. Have you ever thought that by just curtailing your expenses by 10% every year, you can double your savings in 7.5 years? Before splurging, think how hard you work for earning that money.
» Make A Financial Plan : If you don’t know exactly where you’re going, how will you know when you get there? The objective for investing is very important while choosing your investment avenues It is necessary to first set a time frame and chart your goals (Child education, retirement planning, home buying), and then choose the investment which matches your objective and tenure.
» Don’t Invest For Quick Returns : Everyone has the temptation to make a quick buck or get abnormal profits from investment. More often than not, persons end up losing their life savings. While historically, equity has beaten every other asset class, be it gold, FDs or real estate, in terms of returns, it has taken its own time in doing so. There is no free lunch in the equity market, so due diligence is required. It is better to invest through a mutual fund where a professional manages your money and provides you steady returns in the long run.
» NO Last Minute Investment : Research has found that many people make their investment at the time of tax filing, just to save some amount, but in the process, end up buying products which they don’t necessarily require. For an efficient tax planning, one should always plan from beginning of the financial year.
Make sure you remember this rule by legendry investor Warren Buffett - ‘Rule No. 1: Never lose money; Rule No. 2: Don’t forget rule No. 1’.
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INVESTOR JOURNALMarch, 2016
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2008:1st shoe fell in US. 2016: is the 2nd shoe falling in China?Time for India to pull up its socks and get into shoes that fit it!
- Uday Kotak @udaykotak
SIP does what we all should be doing! It recognizes it doesn’t know the future always and unlike us, doesn’t Seek precision in outcomes.
- Kalpen Parekh@KalpenParekh
Never invest in ideas you can’t illustrate with a crayon - Peter Lynch
Wonder how many of us actually follow this !!!
- Lakshmi Iyer @Lakshmi1876
Tweet of the Month
“Morgan Stanley estimates the Indian Internet market valued at $11 billion in 2013 will
be worth $137 billion by 2020”
- Alphaideas @alphaideas
Fund of The Month
ICICI PRU BALANCED ADVANTAGE FUND(G)
Investment Objective:
To provide capital appreciation and income distribution to the investors by using equity derivatives strategies, arbitrage opportunities and pure equity investments.
Portfolio:
Top 10 Companies Holdings
Name %age
Nifty Index 10.7
1.44% GOI IIB 2023 6.2
CBLO 5.7
HDFC Bank Ltd. 5.6
Steel Authority of India Ltd. -91D (02-Feb-16) 4.7
08.60% GOI - 02-Jun-2028 3.9
Infosys Ltd. 3.7
ITC Ltd. 3.2
HCL Technologies Ltd. 2.6
07.88% GOI - 19-Mar-2030 2.5
Top 10 Sector Wise Holding
Industry Name (%)
Unspecified 16.7
Bank - Private 12.2
IT - Software 11.0
Index 10.7
Steel/Sponge Iron/Pig Iron 6.6
Pharmaceuticals & Drugs 5.4
Cigarettes/Tobacco 3.2
Power Generation/Distribution 3.1
Cement & Construction Materials 2.7
Oil Exploration 2.1
To read the full Information, Click here
About Performance of the Scheme:
It is an equity oriented balanced fund and seeks to invest in equity as well as debt instruments. It has been a consistent performer and aims to minimize the downside risk, esp. in a falling market. Among equity, it holds close to 97% of large cap stocks and rest in midcap...
Indicates an increase or decrease or no change in holding since last profile. Indicates an increase or decrease in holding since last portfolio.
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INVESTOR JOURNALMarch, 2016
Industry News
Union Budget 2016 Highlights
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Key Highlights :
» No changes have been made to existing income tax slabs. » Govt. will pay EPF contribution of 8.33% for all new employees for first three years. » Deduction for rent paid will be raised from Rs 20,000 to Rs 60,000 to benefit those living in rented houses. » Service tax exempted for housing construction of houses less than 60 sq.m. » 15 per cent surcharge on income above Rs. 1 crore. » Three major schemes to help underprivileged: Pradhan Mantri Fasal Yojana, health insurance scheme, launching initiative to ensure LPG connection for BPL families.
» Speeded up road construction-to allocate Rs.55,000 crore for roads and highways, additional Rs.15,000 crore to be raised by National Highways Authority of India (NHAI) through bonds. Total allocation of Rs.97000 crore.
» 0.5% Krishi Kalyan surcharge cess on all taxable services from 1st June 2016, to be given to agriculture development.
» General Insurance companies will be listed in the stock exchange. » Govt to increase ATMs, micro-ATMs in post offices in next three years. » New health protection scheme for health cover up to Rs. 1 lakh per family. » Senior citizens will get additional healthcare cover of Rs 30,000 under the new scheme.
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INVESTOR JOURNALMarch, 2016
Readers Corner
ARBITRAGE MUTUAL FUNDS - BEST ANSWER TO VOLATILITY IN STOCK MARKET
Europe is not doing great, neither is China nor US. FIIs are running helter-skelter. Investors do not want to take risk, however, do not seem to compromise on returns either. Should you invest now is a question entirely different from Where should you invest. Don’t you think it would be nice if there is a volatility resistant investment option which can offer good returns? If you are looking for an answer to this question, it is Arbitrage Funds.
Arbitrage implies simultaneous purchase and sale of any security in different markets in order to take advantage of the price differential which exists (if any). Arbitrage Mutual Funds work on the same principle. They try and seek leverage in the price differential in two different markets i.e. cash and derivatives. The best part is that this difference in price is known to the respective fund manager prior to the purchase and sale of the security.
Let’s check out why Arbitrage Funds are good to hold in a portfolio:
1. Tax Efficient
Technically, these funds are neither Equity nor Debt. They are a part of Hybrid category and invest 65% or more in equities and rest in debt instruments. Due to the majority holding in equities, they are treated as equity funds for the purpose of tax. Hence, the redemptions after 1 year are completely tax free.
2. Least risky among equity funds
As discussed above, the fund managers only invest in securities which offer a price differential in two different markets, so that the purchase and sale can happen simultaneously. This eliminates the risk of volatility in the market. In terms of risk, they are comparable to debt funds which ensure safety of capital.
3. Better performance when there is more volatility
In contrast to the current market situation where performance of funds has deteriorated in the past few months, arbitrage funds have managed to fare well. This is due to the increased volatility in the market. More the volatility in markets, more are the buying/selling opportunities for the arbitrage fund managers. For efficient markets, the price difference may not be present quite often; however, Indian markets currently offer a plethora of such opportunities. Let’s look at the performance of the top funds in this category:
To read the full Article, Click here
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INVESTOR JOURNALMarch, 2016
Story of The Month
A woman went to the pet store to buy a parrot. However, the very next day she returned to the shop to give the parrot back. “This bird doesn’t talk,” she told the owner.
“Does he have a mirror in his cage?” the owner asked. “Parrots love mirrors. They see their reflection and start a conversation.” The woman bought a mirror and left.
The next day she returned; the bird still wasn’t talking. “How about a ladder? Parrots love ladders.” The woman bought a ladder and left.
THE TALKING PARROT
Sometimes we forget what is really important in life. We get caught up in so many things things that we actually forget what is necessary and essential for us. Take a moment to do a priority check and strive for what is most important today.
But the next day, again she was back. “Does your parrot have a swing? No? Well, that’s the problem. Once he starts swinging, he’ll talk up a storm.” The woman reluctantly bought a swing and left.
When she walked into the store the next day, her countenance had changed. “The parrot died,” she said. The pet store owner was shocked.
“I’m so sorry. Tell me, did he ever say anything?” he asked.
“Yes, right before he died,” the woman replied. “In a weak voice, he asked me, ‘Don’t they sell any food at that pet store?”
MORAL OF THE STORY:
Courtesy : Karvy Learning Center
Direct Dil Se…
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INVESTOR JOURNALMarch, 2016
SIP Performance
S&P BSE SENSEXCurrent NAV (`)
3 Year SIP 5 Year SIP
Rs.36000 Rs.60000
Profit-SIP XIRR(%) Profit-SIP XIRR(%)Large-cap
Birla SL Advantage Fund(G) 333.33 11112.33 19.27 32881.86 18.05
SBI BlueChip Fund-Reg(G) 27.21 9519.47 16.71 31954.14 17.63
Birla SL Equity Fund(G) 447.81 9015.45 15.88 29520.92 16.50
Religare Invesco Business Leaders Fund(G) 20.17 7928.75 14.93 24906.32 14.77
Reliance Growth Fund(G) 724.97 7774.58 13.83 23763.53 13.72
Axis Equity Fund(G) 18.80 6820.17 12.96 25444.32 15.04
BNP Paribas Equity Fund(G) 61.71 6991.82 12.52 26086.38 14.86
Multi cap
L&T India Value Fund(G) 25.51 18794.44 32.74 52640.30 27.13
Birla SL India Opportunities Fund(G) 111.58 15282.95 25.71 45906.68 23.62
Birla SL Pure Value Fund(G) 36.47 15098.87 25.43 45158.99 23.31
Kotak Select Focus Fund(G) 22.66 11576.43 21.21 35308.53 19.78
ICICI Pru Value Discovery Fund(G) 105.24 12242.81 21.05 40533.86 21.40
Sundaram Rural India Fund(G) 26.18 10770.66 19.85 29212.80 16.91
Canara Rob F.O.R.C.E. Fund-Reg(G) 25.01 10391.23 19.20 31173.17 17.85
Mid Cap & Small Cap
SBI Small & Midcap Fund-Reg(G) 34.87 30878.73 50.00 81856.01 37.50
DSPBR Micro-Cap Fund-Reg(G) 39.51 23093.41 36.90 61329.09 29.46
Reliance Small Cap Fund(G) 24.44 21093.95 34.13 59356.26 28.75
ICICI Pru Midcap Fund(G) 70.35 18633.60 32.49 50305.91 26.20
Religare Invesco Mid Cap Fund(G) 34.99 17925.12 31.41 51405.11 26.64
Canara Rob Emerg Eq Fund-Reg(G) 56.23 18365.71 30.25 53373.94 26.54
SBI Magnum MidCap Fund-Reg(G) 57.65 18099.26 29.87 56228.04 27.61
ELSS
Axis LT Equity Fund(G) 29.40 13446.13 22.92 44807.73 23.17
Birla SL Tax Savings Fund(G) 49.50 11265.14 20.68 29515.00 17.05
Birla SL Tax Relief '96(G) 20.40 11331.57 19.61 34559.37 18.81
Birla SL Tax Plan(G) 25.79 10756.08 18.70 33268.54 18.23
Reliance Tax Saver (ELSS) Fund(G) 41.01 10114.82 17.67 33214.61 18.20
Franklin India Taxshield(G) 397.14 9681.69 16.97 30743.87 17.07
Religare Invesco Tax Plan(G) 32.83 9345.94 16.42 30652.01 17.03
Sector
SBI Pharma Fund-Reg(G) 182.49 18066.01 29.82 63961.63 30.40
ICICI Pru Exports & Other Services Fund(G) 45.16 15620.82 26.22 56479.09 27.70
Reliance Pharma Fund(G) 139.20 14444.47 24.44 48130.68 24.50
Franklin Build India Fund(G) 25.49 12529.86 21.50 41862.19 21.96
UTI Pharma & Healthcare Fund(G) 91.47 11511.13 19.90 40617.50 21.43
ICICI Pru Technology Fund(G) 40.65 9970.15 18.49 40250.61 21.99
Canara Rob Infrastructure Fund-Reg(G) 34.94 10214.19 17.83 25145.00 14.40
Index
ICICI Pru Nifty Next 50 Index Fund(G) 15.96 6948.99 12.44 24114.51 13.90
IDBI Nifty Junior Index Fund(G) 13.97 6548.73 11.77 23288.13 13.48
GS CNX 500(G) 27.75 5804.74 11.12 18675.94 11.50
HDFC Index Fund-Nifty(G)(Post Addendum) 68.75 3975.74 7.73 15646.09 9.82
ICICI Pru Nifty Index Fund(G) 74.34 3866.08 7.53 15518.87 9.74
As on 01st March’16 (Funds have been arranged on 5 years performance)8
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INVESTOR JOURNALMarch, 2016
Category Average Returns
Category Sub Category1 Week Return
1 Month Return
3 Month Return
6 Month Return
1 Year Return
3 Year Return
5 Year Return
Since Inception
Diversified
Large-cap -2.78 -6.74 -13.16 -12.14 -17.12 9.98 7.99 3.21
Mid-cap -3.42 -9.06 -15.19 -12.63 -13.52 21.08 16.07 5.92
Multi-cap -2.81 -7.34 -13.47 -11.14 -14.77 12.81 9.20 10.81
Small-cap -3.71 -10.62 -16.50 -12.22 -11.07 27.92 18.05 11.31
Sector Funds
Banks & Financial Services -3.40 -8.93 -17.00 -16.84 -23.20 5.13 6.69 4.39
Energy & Power -3.01 -7.48 -12.50 -8.15 -13.54 10.08 1.45 5.96
FMCG -2.99 -5.52 -11.77 -7.47 -12.83 11.97 18.96 17.01
Infrastructure -3.40 -9.47 -13.47 -11.80 -15.11 10.41 4.38 5.33
Media & Entertainment -2.91 -8.48 -10.69 -0.67 -5.54 11.37 10.23 11.41
Pharma & Health Care -2.59 -3.48 -9.82 -8.67 3.81 26.45 21.16 10.04
Service Industry -2.79 -7.99 -10.72 -9.94 -2.38 29.33 21.01 14.98
TECk -2.25 -4.96 -6.93 -4.57 -9.26 17.33 11.97 8.70
Speciality
Contra -3.09 -7.98 -12.72 -10.04 -15.09 17.59 12.13 11.65
Dividend Yield -3.00 -6.91 -13.78 -12.00 -17.05 9.36 8.44 10.77
Index - Nifty -2.35 -5.50 -11.25 -10.35 -17.71 7.99 6.53 10.05
Index - Sensex -2.33 -5.50 -11.00 -10.25 -18.96 7.09 5.96 14.64
MNC -2.28 -5.63 -10.29 -10.39 -7.29 28.29 22.17 17.89
Equity Exchange Traded Funds -2.60 -6.27 -13.05 -12.24 -19.15 5.42 3.88 -0.76
Equity Linked Savings Scheme -2.89 -7.48 -13.20 -11.66 -15.19 13.31 9.96 10.34
Arbitrage Funds
Debt-Oriented -0.43 -0.14 0.46 2.03 4.29 7.33 8.46 7.73
Equity-Oriented -0.06 0.13 0.90 2.27 5.96 8.22 8.31 7.70
Asset Allocation -0.95 -1.51 -3.41 -2.56 -4.70 5.53 7.65 5.65
Balanced Funds
Debt-Oriented -1.05 -1.42 -2.61 -3.27 -4.32 9.11 8.82 3.68
Equity-Oriented -2.19 -5.52 -9.79 -7.88 -10.64 12.54 10.31 11.27
Category Capital Protection Funds -0.64 -1.05 -1.88 -0.87 0.01 8.60 4.74
Monthly Income Plans -0.81 -1.68 -2.36 -0.67 0.80 8.38 8.51 8.15
Fund Of Funds
Debt-Oriented -0.65 -2.00 -2.45 -0.70 0.95 8.32 8.49 7.79
Equity-Oriented -1.51 -4.16 -6.89 -5.23 -6.18 11.22 8.92 11.77
Hybrid-Oriented -1.27 -2.85 -3.91 -2.43 -2.60 8.52 9.34 4.78
Gold - FOF 1.00 11.04 14.62 8.93 6.18 -2.57 0.26
Gold Exchange Traded Funds 1.37 13.05 18.01 12.45 10.75 -0.52 6.58 6.51
Income
Long Term -0.41 -0.60 -0.24 1.81 4.14 7.31 8.24 7.88
Medium Term -0.30 -0.36 0.42 2.59 5.92 8.06 8.84 8.14
Short Term -0.30 -0.36 0.42 2.59 5.92 8.06 8.84 8.14
Gilt
Long Term -0.62 -1.16 -1.38 0.82 1.95 7.20 8.13 8.25
Medium Term -0.67 -1.27 -1.07 0.98 3.07 7.30 7.81 7.67
Short Term -0.26 0.22 1.53 3.97 7.20 8.08 7.95 6.73
Floating Rate
Long Term Floating Rate -0.16 -0.10 0.79 3.10 7.03 8.18 8.56 7.30
Med Term Floating Rate -0.17 0.18 1.32 3.68 8.31 9.34 9.04 7.09
Short Term Floating Rate 0.07 0.48 1.56 3.49 7.76 8.58 8.91 7.74
Speciality-Debt
Interval Funds - Half Yrly 0.16 0.64 1.85 3.77 7.98 8.48 8.89 8.05
Interval Funds - Monthly 0.15 0.61 1.77 3.59 8.03 8.67 8.81 8.13
Interval Funds - Quarterly 0.15 0.58 1.65 3.37 7.26 8.35 8.75 8.21
Interval Funds - Yearly 0.09 0.49 1.55 3.53 8.10 8.87 8.92 8.40
Liquid 0.13 0.60 1.78 3.59 7.64 8.27 8.43 7.29
Ultra Short Term Plan 0.05 0.45 1.51 3.35 7.67 8.48 8.67 7.76
Returns are as on 01st March’16 9
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INVESTOR JOURNALMarch, 2016
Fixed Deposits Schemes
FD Name Rating IndustryInterest Rate
* (Up to)
Bajaj Finance Ltd.FAAA by CRISILICRA MAAA
Bajaj Finserv is the most diversifed non-bank in the country, the largest financier of consumer durables in India and one of the most profitable firms in the category.
9.15%
DHFL Aashray DepositPlus
CARE AAA FD, BWR FAAA
Dewan Housing Finance Ltd (DHFL) is the second housing finance company to be set up in the private sector in India.
9.35%
Gruh Finance Ltd.MAAA by ICRA, FAAAby CRISIL
GRUH Finance Ltd is subsidiary of HDFC Ltd is housing finance company (HFC) recognized by National Housing Bank.
8.50%
HDFC Ltd.FAAA by CRISIL, MAAA by ICRA
A pioneer and leader in housing finance in India, since inception, HDFC has assisted more than 4.9 million customers to own a home of their own. HDFC is the Largest mobiliser of public deposits outside the banking system and the HDFC Group has a strong asset base of over Rs.2.97 trillion and a customer base of over 42.5 million.
8.65%
HUDCO‘tAA+(ind)’ by FITCH, ‘CARE AA+(FD)’ by CARE
HUDCO is a premier techno-financing company set up in 1970 by the Government of India to accelerate the pace of housing and urban development in the country.
8.40%
ICICI Home Finance Ltd
CARE FAAA, ICRA MAAA
ICICI Home Finance Company Limited is one of the leaders in the Indian mortgage finance and realty space.
8.85%
LIC Housing Finance Ltd.
FAAA / STABLE by CRISIL
One of India’s largest housing finance companies, having nation-wide network. Consistent record of dividend payments.
8.75%
Mahindra & Mahindra Financial Services Ltd
CRISIL FAAAMahindra and Mahindra Financial Services Limited (MMFSL) commenced its journey two decades back in the rural non-banking finance industry.
8.70%
PNB Housing Finance Ltd.
FAAA by CRISILPNB Housing Finance (PNBHF) is a subsidiary of Punjab National Bank and a partner of Destimoney Enterprises Pvt. Ltd. PNBHF was incorporated in 1988 and is based in New Delhi.
8.50%
Shriram City Union Finance Ltd.
IND +AA- CARE AA FD
As a deposit-accepting non-banking financial company (NBFC), Shriram City is today India’s premier financial services company specializing in retail finance.
9.25%
Shriram Unnati Deposits
MAA+ by ICRA, FAA+ by CRISIL
With a track record of about 30 years in this business, STFC is among the leading organized finance provider for the commercial vehicle industry
9.25%
Sundaram Home Finance Ltd.
ICRA MAA+Sundaram BNP Paribas Home Finance combines its expertise in Home Finance with the Service Orientiation of its promoter Sundaram Finance.
8.75%
* highest rate including additional interest for Senior citizens, employees etc. wherever applicable
10
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INVESTOR JOURNALMarch, 2016
Equity Funds Performance
Scheme NameLatest
NAV (`)
Absolute CAGR
1 Year 3 Year 5 YearSINCE
INCEPTION
Diversified
SBI Small & Midcap Fund-Reg(G) 28.7975 -2.9744 33.5886 21.1335 17.7400
DSPBR Micro-Cap Fund-Reg(G) 35.9130 -5.4820 32.8587 20.9834 15.7955
Reliance Small Cap Fund(G) 21.8959 -10.9353 31.4308 19.2526 15.4426
Franklin India Smaller Cos Fund(G) 34.5022 -9.5831 28.7818 21.3723 12.9984
UTI Mid Cap Fund(G) 68.5971 -11.6989 28.5356 19.2148 14.9170
ELSS
Axis LT Equity Fund(G) 27.0811 -11.8940 24.3489 18.6736 17.5154
Birla SL Tax Relief '96(G) 19.0000 -12.9724 19.7825 12.7509 8.5418
Birla SL Tax Plan(G) 24.0700 -13.1890 19.0189 13.2532 9.7801
Reliance Tax Saver (ELSS) Fund(G) 37.3667 -24.9767 18.8715 14.2291 13.4491
Religare Invesco Tax Plan(G) 30.2400 -16.4661 17.1718 13.1271 12.8178
Sector
SBI Pharma Fund-Reg(G) 131.0502 8.5727 31.0657 26.2908 17.8796
ICICI Pru Exports & Other Services Fund(G) 41.7200 -3.4073 29.5606 20.8621 14.9458
Reliance Pharma Fund(G) 132.0291 3.7021 27.3589 21.3704 24.5768
UTI Pharma & Healthcare Fund(G) 86.6224 -2.2745 24.6232 18.5876 22.6225
Franklin Build India Fund(G) 24.2421 -16.5974 22.9828 17.4608 14.6178
Dividend Yield
BNP Paribas Dividend Yield Fund(G) 29.9800 -13.7776 14.4092 13.0598 11.0640
Tata Dividend Yield Fund(G) 50.5919 -15.0109 12.1287 10.4499 15.4614
Birla SL Dividend Yield Plus(G) 114.5500 -21.3006 9.1412 7.9193 20.5272
HSBC Dividend Yield Equity Fund(G) 13.8420 -20.1253 8.2452 5.9004 3.6991
UTI Dividend Yield Fund(G) 39.9559 -21.2797 6.8549 5.7239 13.6404
Global
MOSt Shares NASDAQ-100 ETF 289.2049 5.2571 25.2039 23.2620
ICICI Pru US Bluechip Equity Fund(G) 18.4100 5.3204 18.8724 18.2336
Birla SL Intl. Equity Fund-A(G) 15.4687 -7.2942 8.4636 9.6428 5.3718
Birla SL Intl. Equity Fund-B(G) 12.2459 -16.1120 8.2751 5.9061 2.4600
GS Hang Seng BeES 1934.3904 -12.7351 3.9966 6.9713 7.7346
Equity Index
ICICI Pru Nifty Next 50 Index Fund(G) 15.0085 -13.1026 14.1474 10.0743 7.4035
IDBI Nifty Junior Index Fund(G) 13.1179 -13.4893 13.5573 9.8006 5.1090
GS CNX 500(G) 24.3472 -19.2610 8.7542 6.2452 13.2514
ICICI Pru Nifty Index Fund(G) 66.7622 -20.3421 7.9201 6.1403 14.5054
HDFC Index Fund-Nifty(G) 61.7193 -20.005 7.9138 5.9638 14.0168
Equity FOF
Kotak Asset Allocator Fund(G) 57.2250 -2.6310 15.9852 10.6273 16.2814
Quantum Equity FoF Fund(G) 21.5600 -14.2508 15.0479 10.3818 12.3124
Birla SL Asset Allocator Multi FoF(G) 19.9989 -6.3348 12.6659 4.736 7.5335
Birla SL Financial Planning FOF Aggressive Plan(G) 15.1905 -8.3410 12.0846 9.0737
Franklin India Life Stage FOFs-20(G) 56.2536 -10.3157 11.7464 9.8181 15.1364
(Funds has been arranged on the basis of 3 years performance)11
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INVESTOR JOURNALMarch, 2016
Debt Funds Performance
Scheme NameLatest
NAV (`)
Absolute CAGR
1 Year 3 Year 5 YearSINCE
INCEPTION
Gilt Funds
Sundaram Gilt Fund(G) 24.1603 2.2853 10.9678 9.4922 6.1251
IDFC G Sec-STP-Reg(G) 21.5923 8.2569 10.5910 8.6310 5.6579
L&T Gilt Fund(G) 36.2752 3.8532 10.1845 10.1361 8.4241
SBI Magnum Gilt-LTP-Reg(G) 31.5900 3.9602 10.1612 9.8925 7.8641
SBI Magnum Gilt-STP(G) 30.7730 8.4785 10.0699 9.6583 7.6812
Income
ICICI Pru Long Term Plan(G) 17.3069 3.0466 10.9895 10.4473 9.3890
Birla SL Medium Term Fund(G) 18.3196 8.3434 10.3519 10.3441 9.1190
SBI Corporate Bond Fund-Reg(G) 23.4917 8.5876 10.0316 9.8728 7.6162
DWS Short Maturity Fund(G) 27.6679 10.7466 9.9703 9.8067 8.0792
Birla SL Treasury Optimizer Plan(G) 185.2609 7.3429 9.9606 9.8027 8.1879
Scheme NameLatest
NAV (`)
Absolute CAGR
1 Year 3 Year 5 YearSINCE
INCEPTION
Balanced
L&T India Prudence Fund(G) 17.8620 -7.6053 17.7211 12.8498 12.1396
L&T Dynamic Equity Fund(G) 18.3400 -10.2878 17.3359 13.2571 12.7261
Tata Balanced Fund(G) 150.9959 -11.7180 16.9876 14.2302 15.9716
HDFC Balanced Fund(G) 96.7470 -10.5282 16.5539 13.1981 15.7938
SBI Magnum Balanced Fund-Reg(G) 88.0906 -7.3619 16.5397 12.8447 16.2435
MIP
ICICI Pru Child Care Plan-Study Plan 54.2992 4.8578 16.0576 13.6248 12.3703
SBI Magnum Children Benefit Plan 36.5555 0.7387 11.7695 10.6338 9.6320
Birla SL MIP II-Wealth 25(G) 28.4088 -2.5252 11.5342 10.3707 9.2675
SBI Magnum MIP-Floater Plan(G) 21.2066 5.9659 11.0997 10.0646 7.6059
UTI MIS Adv Plan(G) 31.1467 1.2916 10.6728 9.6031 9.7484
Arbitrage
Edelweiss Absolute Return Fund(G) 17.2200 -7.0311 10.9342 9.3271 8.6770
Edelweiss Equity Savings Advantage Fund(G) 15.7800 3.6011 8.6087 8.5095 7.8767
Kotak Equity Arbitrage Scheme(G) 21.8628 6.8273 8.2938 8.4219 7.7920
ICICI Pru Equity-Arbitrage Fund(G) 20.2710 6.7715 8.2661 8.4921 8.0079
Birla SL Enhanced Arbitrage Fund(G) 15.7532 6.5630 8.2245 7.8373 7.1222
Gold-FOF
IDBI Gold Fund(G) 9.3115 12.7314 11.0684 -0.9409 -1.9920
SBI Gold-Reg(G) 9.5795 10.0877 8.5030 -2.2938 -0.9568
Canara Rob Gold Saving Fund-Reg(G) 9.0266 9.5594 7.9534 -2.1671 -2.7429
Reliance Gold Savings Fund(G) 12.7650 9.2445 7.9141 -2.2527 5.0177
ICICI Pru Regular Gold Savings Fund(G) 10.1140 9.7737 7.8672 -1.9239 0.2586
(Funds has been arranged on the basis of 1 year performance)
Hybrid Funds Performance
12
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INVESTOR JOURNALMarch, 2016
Global Markets at a Glance
13
Exhibit: Nifty
Exhibit: S&P 500
Exhibit: Euro Stoxx 50
Exhibit: Nikkei
Exhibit: Shanghai
Exhibit: INR
Exhibit: Dollar Index
Exhibit: Eur
Exhibit: JPY
Exhibit: CNY
Exhibit: India 10 Yr Yld %
Exhibit: US 10 Yr Yld %
Exhibit: Germany 10 Yr Yld %
Exhibit: Japan 10 Yr Yld %
Exhibit: China 10 Yr Yld %
6800
7000
7200
7400
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb67.0
67.5
68.0
68.5
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
7.67.77.77.87.87.9
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
94.0
95.0
96.0
97.0
98.0
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
1,800
1,840
1,880
1,920
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
1.5
1.6
1.7
1.8
1.9
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
2500
2600
2700
2800
2900
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
1.10
1.11
1.12
1.13
1.14
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
0.10
0.20
0.30
0.40
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
14000
15000
16000
17000
18000
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
12-F
eb
15-F
eb
110.0
112.0
114.0
116.0
118.0
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
-0.05
0.00
0.05
0.10
5-Fe
b
8-Fe
b
9-Fe
b
10-F
eb
11-F
eb
12-F
eb
15-F
eb
2730
2740
2750
2760
2770
5-Fe
b
15-F
eb
6.450
6.500
6.550
6.600
5-Fe
b
15-F
eb
2.875
2.880
2.885
2.890
2.895
5-Fe
b
15-F
eb
Source: Bloomberg, Karvy Research
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INVESTOR JOURNALMarch, 2016
Indices Watch
Index NameAs on
01-Feb-16As on
29-Feb-16%
Change
S&P BSE Capital Goods 12488.65 11239.38 -10.00%
S&P BSE BANKEX 17356.96 15814.82 -8.88%
S&P BSE Power Index 1828.39 1582.48 -13.45%
S&P BSE PSU 6210.89 5525.87 -11.03%
S&P BSE DOLLEX 30 3006.73 2760.10 -8.20%
S&P BSE AUTO Index 16985.08 15851.55 -6.67%
S&P BSE SENSEX 24824.83 23002.00 -7.34%
S&P BSE 100 7649.86 7075.44 -7.51%
S&P BSE 200 3192.03 2946.82 -7.68%
S&P BSE 500 10020.70 9206.02 -8.13%
S&P BSE O & G Index 9233.77 8214.24 -11.04%
S&P BSE METAL Index 6947.69 6759.24 -2.71%
S&P BSE Mid-Cap 10476.82 9575.10 -8.61%
S&P BSE GREENEX 2125.01 1980.43 -6.80%
S&P BSE Small-Cap 10901.41 9548.33 -12.41%
S&P BSE TECk Index 5969.61 5513.60 -7.64%
S&P BSE Consumer Durables 12182.51 11054.04 -9.26%
S&P BSE IT 11228.64 10229.49 -8.90%
S&P BSE Health Care 16281.74 15207.69 -6.60%
S&P BSE FMCG 7511.10 7114.45 -5.28%
S&P BSE Realty Index 1211.47 1051.08 -13.24%
Indian Indices:
Index NameAs on
01-Feb-16As on
29-Feb-16%
Change
NIFTY FMCG 19283.35 18331.60 -4.94%
NIFTY MEDIA 2458.40 2165.95 -11.90%
NIFTY COMMODITIES 2319.55 2155.65 -7.07%
NIFTY 100 7657.70 7083.95 -7.49%
Nifty 500 Shariah index 2070.38 1920.82 -7.22%
NIFTY PSE 2972.90 2608.80 -12.25%
NIFTY DIV OPPS 50 1790.00 1642.65 -8.23%
NIFTY FINANCE 6429.35 5839.25 -9.18%
NIFTY IT 11305.25 10278.40 -9.08%
NIFTY REALTY 153.85 130.30 -15.31%
Nifty Midcap 50 3086.15 2720.75 -11.84%
INDIA VIX 17.89 20.16 12.67%
NIFTY MIDCAP 100 12526.10 11558.70 -7.72%
NIFTY SERV SECTOR 9735.20 8865.55 -8.93%
NIFTY 50 7555.95 6987.05 -7.53%
NIFTY INFRA 2447.90 2261.25 -7.62%
NIFTY PHARMA 11742.75 11167.70 -4.90%
NIFTY METAL 1663.75 1633.65 -1.81%
NIFTY PSU BANK 2214.85 2037.10 -8.03%
NIFTY 500 6341.60 5829.95 -8.07%
NIFTY 200 3969.25 3660.10 -7.79%
NIFTY CONSUMPTION 3333.05 3165.45 -5.03%
NIFTY BANK 15314.45 13946.40 -8.93%
NIFTY ENERGY 8470.75 7664.85 -9.51%
Global Indices:
Index NameAs on
01-Feb-16As on
29-Feb-16%
Change
Nasdaq 4620.37 5098.00 10.34%
Dow Jones 16449.18 16516.50 0.41%
Straits Times 2602.41 2666.51 2.46%
Bovespa 40570.00 42794.00 5.48%
FTSE 100 6060.10 6097.10 0.61%
DAX 9757.88 9495.40 -2.69%
S&P 500 1939.38 1932.23 -0.37%
Nikkei 225 17865.23 16026.76 -10.29%
NYSE 9616.70 9559.53 -0.59%
All Ordinaries 5094.30 4947.90 -2.87%
DisclaimerThe information and views presented in this report are prepared by Karvy Stock Broking Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Stock Broking nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document.
This report is intended for a restricted audience and we are not soliciting any action based on it.
For more information on MUTUAL FUNDS call1800 425 8282 or contact your nearest Karvy branch.
Research TeamPF/MFNL/04032016/28
Ankit ChoradiaE-mail : [email protected]
Phone : 040 3321 7132
Production: Naga Babu K
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