Table - 10 year point to point performance of Large Cap Oriented Funds

 Below are 2 tables giving the point to point annualized returns over since 25.5.15. of the large cap oriented funds which were available in May 2005

The first table gives the ten year retrun from 25.5.05 to 25.5.15

The second table - Table B gives the returns of funds from 25.5.05 to 30.9.13 - that is just when the upward move started. This has been suggested by @jace48 

Of course the only liquid ETF that is comparable is the GS Nifty ETF which is therefore put right on top and which has been around greater 10 years. There are Sensex and Nifty Mutual Funds in the list below. As seen most funds have beaten the Nifty ETF

This is not meant to be a recommendation for any Fund or to compare schemes, but to show the performance of Large Cap oriented Funds over a long period - point to point.

All details are from Value Research

Table A

Nifty Total Retuns index annualised return over 10 years is 16.57%

Large cap / LC Oriented Funds Ten year performance as on  25.5.15
Fund	Category	Launch	Return (%) Annualised	Net Assets (Cr)
Goldman Sachs Nifty ETS Fund	EQ-LC	28-Dec-01	16.11	747.01
Franklin India Prima Plus Fund	EQ-LC&MC	29-Sep-94	20.87	4022.52
SBI Magnum Multiplier Fund	EQ-LC&MC	28-Feb-93	20.83	1452.38
ICICI Prudential Dynamic Fund	EQ-LC&MC	31-Oct-02	20.83	5726.28
Birla Sun Life Frontline Equity Fund	EQ-LC&MC	30-Aug-02	20.8	8732.93
HDFC Equity Fund	EQ-LC&MC	1-Jan-95	20.58	17808.25
HDFC Top 200 Fund	EQ-LC	3-Sep-96	20.13	13247.05
Franklin India Flexi Cap Fund	EQ-LC&MC	2-Mar-05	20.01	2532.83
L&T Equity Fund	EQ-LC&MC	16-May-05	19.92	2842.88
Reliance NRI Equity Fund	EQ-LC&MC	15-Nov-04	19.14	90.56
DSP BlackRock Top 100 Equity Fund	EQ-LC	10-Mar-03	19.12	3370.75
SBI Magnum Equity Fund	EQ-LC	1-Jan-91	19.07	1443.9
Kotak Opportunities	EQ-LC&MC	9-Sep-04	19.05	633.63
Franklin India Bluechip Fund	EQ-LC	1-Dec-93	18.72	6138.24
DSP BlackRock Opportunities Fund	EQ-LC&MC	16-May-00	18.52	722.39
Birla Sun Life Equity Fund	EQ-LC&MC	27-Aug-98	18.34	2019.84
ICICI Prudential Top 100 Fund	EQ-LC	9-Jul-98	18.23	1757.84
ICICI Prudential Top 200 Fund	EQ-LC&MC	1-Oct-94	18.18	847.15
Kotak 50 Regular Plan	EQ-LC	29-Dec-98	18.1	701.65
HDFC Capital Builder Fund	EQ-LC&MC	1-Feb-94	18.03	892.11
HDFC Growth Fund	EQ-LC&MC	11-Sep-00	17.93	1172.63
Canara Robeco Equity Diversified Fund	EQ-LC&MC	16-Sep-03	17.92	769.07
UTI Equity Fund	EQ-LC	18-May-92	17.9	4099.52
SBI Contra Fund	EQ-LC&MC	14-Jul-99	17.76	1987.01
Tata Pure Equity Fund - Plan A	EQ-LC	7-May-98	17.69	805.38
BNP Paribas Equity Fund	EQ-LC&MC	23-Sep-04	17.42	681.75
HDFC Index Fund - Sensex Plus Plan	EQ-LC	17-Jul-02	17.36	123.88
DWS Alpha Equity Fund	EQ-LC	21-Jan-03	17.31	92.49
HSBC India Opportunities Fund	EQ-LC&MC	24-Feb-04	17.24	474.08
Tata Equity Opportunities Fund - Plan A	EQ-LC&MC	29-Mar-03	17.12	1015.41
DWS Investment Opportunity Fund	EQ-LC&MC	29-Jan-04	16.9	116.12
Franklin India Opportunities Fund	EQ-LC&MC	10-Mar-04	16.87	380.33
Taurus Starshare Fund	EQ-LC&MC	29-Jan-94	16.68	197.11
ICICI Prudential SPIcE Fund	EQ-LC	10-Jan-03	16.57	4.67
Sahara Growth Fund	EQ-LC&MC	30-Aug-02	16.57	7.5
ICICI Prudential Index Fund	EQ-LC	26-Feb-02	16.54	99.29
Franklin India Life Stage Fund of Funds 20s	EQ-LC&MC	1-Dec-03	16.47	13.14
Sundaram Select Focus Fund	EQ-LC	30-Jul-02	16.47	383.22
Baroda Pioneer Growth Fund	EQ-LC	12-Sep-03	16.32	215.31
UTI Mastershare Fund	EQ-LC	18-Oct-86	16.09	3022.72
Tata Index Nifty Fund - Plan A	EQ-LC	25-Feb-03	15.59	8.67
HSBC Equity Fund	EQ-LC	10-Dec-02	15.33	646.96
Franklin India Index Fund - NSE Nifty Plan	EQ-LC	4-Aug-00	15.31	206.62
UTI Nifty Index Fund	EQ-LC	6-Mar-00	15.2	235.99
ICICI Prudential Advisor Series - Very Aggressive Plan	EQ-LC	18-Dec-03	14.79	4.6
Birla Sun Life Index Fund	EQ-LC	18-Sep-02	14.68	205.71
Tata Index Sensex Fund - Plan A	EQ-LC	25-Feb-03	14.51	5.92
Principal Index Fund - Nifty	EQ-LC	27-Jul-99	14.42	18.61
SBI Nifty Index Fund	EQ-LC	4-Feb-02	14.3	87.89
HDFC Index Fund - Sensex Plan	EQ-LC	17-Jul-02	14.28	81.91
Sundaram Growth Fund - Regular Plan	EQ-LC&MC	24-Apr-97	13.91	251.78
HDFC Index Fund - Nifty Plan	EQ-LC	17-Jul-02	13.88	102.37
LIC Nomura MF Index-Sensex Plan	EQ-LC	28-Nov-02	13.46	10.67
HDFC Large Cap Fund - Regular Plan	EQ-LC	18-Feb-94	13.29	1218.26
Taurus Bonanza Fund	EQ-LC&MC	28-Feb-95	13.21	23.24
LIC Nomura MF Growth Fund	EQ-LC	31-Aug-94	12.91	96.06
LIC Nomura MF Equity Fund	EQ-LC	15-Apr-93	12.35	353.53
LIC Nomura MF Index-Nifty Plan	EQ-LC	28-Nov-02	12	12.68
LIC Nomura MF Index-Sensex Advantage Plan	EQ-LC	28-Nov-02	11.8	3.79
JM Equity Fund	EQ-LC	1-Apr-95	11.02	30.96

Table B

Returns from 25.5.05 to 30.9.13 - just when the uptrend started

Nifty Total Returns index over this period 14.63%

Fund	Category	Annualised. Return (%)
Goldman Sachs Nifty ETS Fund	EQ-LC	14.14
ICICI Prudential Dynamic Fund	EQ-LC&MC	18.4
Birla Sun Life Frontline Equity Fund	EQ-LC&MC	17.81
DSP BlackRock Top 100 Equity Fund -	EQ-LC	17.1
HDFC Top 200 Fund	EQ-LC	17
HDFC Equity Fund	EQ-LC&MC	16.48
Franklin India Prima Plus Fund	EQ-LC&MC	16.42
Reliance NRI Equity Fund	EQ-LC&MC	16.38
SBI Magnum Multiplier Fund	EQ-LC&MC	16.34
SBI Magnum Equity Fund	EQ-LC	16.27
L&T Equity Fund	EQ-LC&MC	16.17
Franklin India Bluechip Fund	EQ-LC	16.06
ICICI Prudential Top 100 Fund -	EQ-LC	15.64
Tata Pure Equity Fund - Plan A	EQ-LC	15.48
Kotak Opportunities	EQ-LC&MC	15.38
HDFC Index Fund - Sensex Plus Plan	EQ-LC	15.25
Canara Robeco Equity Diversified Fund -	EQ-LC&MC	15.18
Franklin India Flexi Cap Fund	EQ-LC&MC	15.14
HDFC Growth Fund	EQ-LC&MC	15.11
DSP BlackRock Opportunities Fund	EQ-LC&MC	15.1
ICICI Prudential SPIcE Fund	EQ-LC	14.9
Kotak 50	EQ-LC	14.71
ICICI Prudential Index Fund -	EQ-LC	14.57
Sahara Growth Fund	EQ-LC&MC	14.47
UTI Equity Fund	EQ-LC	14.37
SBI Contra Fund	EQ-LC&MC	14.22
Sundaram Select Focus Fund -	EQ-LC	14.18
DWS Alpha Equity Fund	EQ-LC	14.05
ICICI Prudential Top 200 Fund -	EQ-LC&MC	14.01
DWS Investment Opportunity Fund	EQ-LC&MC	13.97
BNP Paribas Equity Fund	EQ-LC&MC	13.83
HDFC Capital Builder Fund	EQ-LC&MC	13.71
Tata Index Nifty Fund - Plan A	EQ-LC	13.69
Franklin India Life Stage Fund of Funds 20s	EQ-LC&MC	13.51
ICICI Prudential Advisor Series - Very Aggressive Plan -	EQ-LC	13.49
Tata Equity Opportunities Fund - Plan A	EQ-LC&MC	13.39
Taurus Starshare Fund	EQ-LC&MC	13.36
Franklin India Index Fund - NSE Nifty Plan	EQ-LC	13.28
Birla Sun Life Equity Fund	EQ-LC&MC	13.25
UTI Nifty Index Fund	EQ-LC	13.01
HSBC Equity Fund	EQ-LC	12.8
Tata Index Sensex Fund - Plan A	EQ-LC	12.72
UTI Mastershare Fund	EQ-LC	12.66
Baroda Pioneer Growth Fund	EQ-LC	12.53
Birla Sun Life Index Fund	EQ-LC	12.51
Principal Index Fund - Nifty	EQ-LC	12.23
HDFC Index Fund - Sensex Plan	EQ-LC	12.22
SBI Nifty Index Fund	EQ-LC	12.21
HSBC India Opportunities Fund	EQ-LC&MC	12.13
Sundaram Growth Fund -	EQ-LC&MC	11.67
Franklin India Opportunities Fund	EQ-LC&MC	11.56
LIC Nomura MF Index-Sensex Plan	EQ-LC	11.46
HDFC Index Fund - Nifty Plan	EQ-LC	11.42
HDFC Large Cap Fund -	EQ-LC	11.29
LIC Nomura MF Index-Nifty Plan	EQ-LC	9.43
Taurus Bonanza Fund	EQ-LC&MC	9.29
LIC Nomura MF Growth Fund	EQ-LC	9.19
LIC Nomura MF Index-Sensex Advantage Plan	EQ-LC	9.05
LIC Nomura MF Equity Fund	EQ-LC	8.46
JM Equity Fund	EQ-LC	6.44

AMFI's full circular on cap on Commissions in tweets

AMFI's full circular on cap on Commissions in tweets of Manoj Nagpal. Must thank Manoj, for sharing this in detail!! Some shocking stuff and heavily favouring larger National Distributors and Banks.

Incisive and must see comments on the AMFI proposal to cap upfront commissions

There has been a lot of debate on AMFI's proposal to cap upfront commissions for distributors. The debate on twitter has been particularly incisive and one can get a general sense of how the debate went outside AMFI. A few links on the topic and some really great comments are given below in the storyfied collection. Read on for quotes from Mutual Fund CEOs distributors, planners and others...

A message from LIC to policy holders warning of bogus calls

The below is a reproduction of a message sent by LIC to policy-holders on what should be done if you get s suspicious phone call regarding your LIC policy. A few people I know have received calls asking for information regarding a "bonus" on insurance to be received.

Issued in public Interest

Dear Policyholder,

We have been receiving certain complaints where our policyholders received phone calls promising undue amounts/Bonuses to them. Caller normally poses as if he is calling from LIC office or IRDA office.

Before disclosing any information you are requested to check the genuineness of the call. It can be checked through your regular agent. You can also call on IVRS number 1251 or send an e-mail at co_crm_fb@licindia.com.

In case ,it is known that you had received a fake or spurious call please file an FIR with the police and lodge complaint at TRAI regulated phone number ‘1909’ with your mobile /landline on which spurious call was received within 3 days of receipt of such call. Please send a copy of complaint to LIC also.

Assuring you of our best services always.

Executive Director (CRM)

LIC of India

Some great posts on Banks and Banking - storyfied

Some great posts on Banks and Banking on Capital Mind.

Quantum Mutual Fund explaining their high cash levels

Quantum Mutual Fund on why a higher cash level is necessary sometimes:

The link to the original write up is here

It is said that, sitting on cash in not always the best strategy in equity markets. Such a move could easily backfire in surging market conditions. With high valuations it makes sense to wait rather than risk investors’ money at this time says Quantum. 

With markets regularly hitting new highs and then falling suddenly before rising yet again; the AMC feels that it makes sense to wait. We believe in the long term outlook either for a particular stock, or for the Indian economy as a whole."The AMC is clear that they are not worried about short-term under performance if it has potential to generate risk-adjusted returns in the long term. 

Currently the cash holding for Quantum Long Term Equity Fund is around 30 per cent and it’s the highest since the launch of the fund. Since elections results have been declared last May, markets have soared sharply with little fundamental changes like increased corporate spending etc. to back this jump. Hence, we have lightened our exposure to sectors like industrials, capital goods and financials, only because we are not comfortable with current valuations. 

Cash is residual after investing in stocks 




For us, cash is residual after investing in stocks. We follow the bottom up stock selection process, where we identify stocks and build a portfolio. Our research team and the Fund Management team set the buy and sell limit of the stocks. We generally buy a new stock at the pre-determined Buy price (or below) and generally sell an existing stock at the pre-determined Sell price or above.
The Past explains 

Even if you look back at the history of the fund, in the year 2007, when the markets were racing upwards - the cash levels at Quantum Long Term Equity Fund (QLTEF) was around 15-20%. Thus the fund was poised to take advantage of the dive in markets in late 2008 due to the Lehman crisis. Cash levels of QLTEF were at all-time lows at that point in 2008 as most stocks then came into the 'buy' limit of the fund. Since then, till now, the fund manager has continued to manage the scheme prudently. 

The stock market is cyclical and since the formation of the new government at the center, it has been hitting new highs almost every week regardless of the fact that the fundamentals are not backing it. Hence the cash levels of QLTEF are high, yet again. 

Our philosophy of thinking long term, being value investors, and our stance towards choosing the stocks that are the best for the portfolio while also not taking extreme risks will not change. So if markets continue their upward trajectory it is likely that we will continue to sit on high levels of cash.

So we take this opportunity to thank you yet again for your trust and continued faith in the Quantum philosophy and request you to be patient with us as we wait for the right opportunity to re-enter the market at the right time, and continue delivering the returns you have come to expect from us. 

Some great Mutual Fund Posts - storyfied

Mutual Fund posts on Capital Mind

Budget 2015: Exemptions available to individual tax payers

Budget 2015: Exemptions available to individual tax payers

I have compiled a summary of exemptions now available for tax payers in this table and hope it is useful.These are based on my understanding and for informative purposes. For filing your returns, please take the assistance of your tax consultant.

Section	Amount in Rs.	Details
80CCC	150000.00	PPF, EPF, Mutual Fund ELSS, Insurance Premium, NSC, Senior Citizen Savings Scheme, 5 yr. PO and Bank Deposits, NPS contributions, any notified pension scheme, Deposits in Sukanya Samriddhi Yojana for girl child, Repayment of home loan; tuition fees of children. In addition to this deduction of 150000.00 there is further deduction allowed now u/s 80CCD….see below
80CCD	Additional 50000.00	Contribution towards a notified pension scheme subject to 10% of salary + 50000.00. Total deduction under 80CCC and 80CCD should not be > 200000.00 That is you can use 150000.00 deduction in the above 80CCC schemes and additional amount in a pension scheme notified by the Government
80CCG	25000.00	50% of investment subject to a maximum of Rs. 25000 in ESS of Mutual Fund or in equity(earlier called RGESS )
80D	25000.00 (30000.00 for senior citizens) + 5000.00	Payment towards mediclaim premium. In addition Rs. 5000.00 additional deduction allowed for amount paid towards preventive health check-ups
80DD	75000.00	Deduction for medical expenses on a dependant who has 40% disability. If disability is 80%, an amount of Rs 125000.00 is deductible
80DDB	40000.00	Deduction allowed towards treatment of a critical ailment. The amount is 60000.00 for a senior citizen (60 yrs.) and Rs 80000.00 for a senior citizen above 80 yrs.
80G		50% of donation paid to a charitable trust can be deducted from income
80GGC		Any amount paid to an electoral trust of political party
80GG	24000.00	Rent paid on accommodation –  upto a maximum of 25000.00 p.a or 25% of income provided one does have any other HRA or own a residence
24B	200000.00	The interest component of home loans is allowed as deduction under Section 24 B for up to Rs. 2 lakh in case of a self-occupied house. Was earlier 150000.00
80E		Deduction allowed for interest paid towards education loan for higher studies. Maximum period of deduction is 8 years or till loan is repaid

Dumb ways to save..from IDFC

Dumb ways to save - a nice video from IDFC Mutual Fund 

So - know the power of compounding and save and invest smartly..