NISM- Mutual Fund
Work Shop II
Ayan, Dipanjan, Harshal, Mitaali, Namrata, Rahul, Pramod
Comparative Analysis of Mutual Funds
▪ Franklin India Blue Chip
▪ ICICI Prudential Focused Blue Chip Equity Regular
▪ Axis Equity Mutual Fund
Objectives
▪ Comparative Analysis – On The Basis Of Risk Adjusted Return.
▪ Comparison On The Basis Of Fund Manager Performance
▪ Recommendations As Per Risk Profile– Aggressive Risk Taker– Moderate Risk Taker – Risk Averse
▪ Most Appropriate Fund As Per Current Market Scenario
1.Franklin India Blue Chip
▪ AMC- Franklin Templeton Assets Management India Pvt Ltd
▪ Open-ended And Equity : Large Cap
▪ Launch – November 1993
▪ Benchmark – S&P BSE Sensex
▪ Value Research Rating - ***(3 Star)
▪ NAV- Rs.297.84
▪ Net Assets – Rs.5038.8 Crore
▪ Exit Load – 1% for redemption within 365 days
Franklin Fund-Card
Portfolio Characteristics
▪ Total Stocks – 42
▪ Standard Deviation – 16.67
▪ Sharpe Ratio - 0.32
▪ Beta – 0.90
▪ R-Squared – 0.95
▪ Jensen’s Alpha – 0.95
Portfolio Composition [%]
Equity – 97.10 %
Debt –
0.00%
Cash– 2.90
%
2.ICICI Prudential Blue-Chip Equity
▪ AMC- ICICI Prudential Assets Management Ltd
▪ Open-ended And Equity : Large Cap
▪ Launch – May 2008
▪ Benchmark – S&P CNX Nifty
▪ Value Research Rating - ***** (5 Star)
▪ NAV- Rs.27.07
▪ Net Assets – Rs.5884.5 Crore
▪ Exit Load – 1% for redemption within 365 days
ICICI Prudential Fund-Card
Portfolio Characteristics
▪ Total Stocks – 48
▪ Standard Deviation – 16.51
▪ Sharpe Ratio - 0.56
▪ Beta – 0.90
▪ R-Squared – 0.96
▪ Jensen’s Alpha – 5.02
Portfolio Composition [%]
Equity – 96.61 %
Debt – 3.67%
Cash– -0.28
%
3. Axis Equity Mutual Fund
▪ AMC- Axis Assets Management Company
▪ Open-ended And Equity: Large Cap
▪ Launch – December 2009
▪ Benchmark – CNX Nifty
▪ Value Research Rating - ***** (5 Star)
▪ NAV- Rs.17.04
▪ Net Assets – Rs.812.0 Crore
▪ Exit Load – 1% for redemption within 365 days
Axis Mutual Fund-card
Portfolio Characteristics
▪ Total Securities– 49
▪ Standard Deviation – 16.54
▪ Sharpe Ratio - 0.57
▪ Beta – 0.89
▪ R-Squared – 0.95
▪ Jensen’s Alpha – 5.22
Portfolio Composition [%]
EQUITY– 99.14 %
Debt–
2.43%
Cash- -1.57 %
Comparative Analysis of Funds
Franklin India Blue Chip
ICICI Prudential Blue Chip
Axis Equity Fund
Sharpe Ratio 0.32 0.56 0.57
Standard Deviations 16.67 16.51 16.54
R-Squared 0.95 0.96 0.95
Jenson’s Alpha 0.95 5.02 5.22
Beta 0.90 0.90 0.89
Fund Managers Comparison
▪ Franklin India Blue-Chip
▪ Anand Radhkrishnan – Jensen's Alpha – 0.95– Beta – 0.90– 1 years return – 17.02%– 3 years return – 6.10%– 5 years return – 18.80 %– Rating – 3 Stars– Rank - 141/148
▪ ICICI Prudential Blue-Chip
▪ Manish Gunwani– Jensen’s Alpha – 5.02– Beta - 0.90– 1 years return – 25.7%– 3 years return – 16.23– 5 years return – 21.72– Rating – 5 Star– Rank - 12/148
▪ Axis Equity Fund
▪ Pankaj Murarkar– Jensen’s Alpha – 5.22– Beta - 0.86– 1 years return – 21.7%– 3 years return – 19.97%– 5 year Return – NIL– Rating – 5 Start– Rank – 82/148
Risk Profile
Aggressive Risk Taker• Franklin India Blue Chip• ICICI Prudential• Axis Fund
Moderate Risk Taker• ICICI Prudential Balanced
Fund• 61 % In Equity – 39 % In
DebtRisk Averse• IDFC G-Sec Fund –
Investment Plan – 96.19 % In G-Sec
Best Fund As Per Given Market Scenario
▪ ICICI Prudential Blue-Chip
▪ Manish Gunwani– Jensen’s Alpha – 5.02– Beta - 0.90– 1 years return – 25.7%– 3 years return – 16.23– 5 years return – 21.72– Rating – 5 Star– Rank - 12/148