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Friday, February 28, 2014

What is Beta of a Portfolio?

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Beta measures the relative risk of a fund or portfolio in relation to the market portfolio. In other words, it reflects the systematic risk associated with the fund. The market index has a beta of one. A beta higher than one means the fund is riskier than the benchmark and a beta less than one indicates lesser volatility than the benchmark. A beta of 1.1 implies that the fund has a volatility that is 1.1 times the benchmark volatility.

Volatility is not necessarily a bad thing. All that a beta suggests is that if the underlying stocks in an equity fund are chosen in such a way that their cumulative beta is say 1.2, if the market benchmark goes up by 10%, you should expect this fund to go up by 12% and conversely, if the market benchmark were to decline by 10%, you should expect this fund to decline by 12% : by 1.2 times the movement of the benchmark.

Beta is found out using regression and may be expressed as the covariance between the fund and the benchmark divided by the variance of the benchmark. A high beta is associated with a higher return.

In a bullish market, investors should select a fund with higher beta as likelihood of higher returns for taking higher risk are more. While in a bearish market, a fund with lower beta would be more appropriate as it is defensive against the market.

If you expect markets to be bearish, you would like to look for funds that have a low beta - which can provide you relative protection in market corrections and fall perhaps less than the market.

 

 

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

 

 

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Documents required to Open a PPF Account?

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The documents required are any one of the proof of Identity, any one of the address proof and 2 recent passport size photographs and of course filled provident fund form. Original documents would be required along with self attested copies of both the documents.

 

The documents which can be submitted as Identity proof are:

1) Pan Card

2) Driving license

3) Voter`s Id card

4) Passport

 

The documents which can be submitted as address proof are:

1) Telephone Bill

2) Ration card

3) Electricity bill

4) Voter`s Id card

 

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

 

 

Leave a missed Call on 94 8300 8300

 

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

 

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

 

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

 

Best Performing Mutual Funds

    1. Largecap Funds             Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds         Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds          Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds   Invest Online

      1. DSP BlackRock MicroCap Fund

2.       Franklin India Smaller Companies

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      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

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      2. Reliance Tax Saver (ELSS) Fund

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      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds         Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

Templeton India Income Builder Invest Online

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Investment Objective

 

The scheme seeks to provide reasonable return, regular income, liquidity and safety through investment primarily in quality fixed income instruments. Ideal for a time horizon of 6 months to 3 years.

 

Fund Managers

 

Sachin Padwal-Desai since Jul 2004
Umesh Sharma since Jul 2010

Analysis As on Dec 23, 2013

 

The fund behaves like a dynamic bond fund with the fund manager changing the average maturity as per his conviction.

 

Strategy
The primary objective is to generate a steady stream of income through investments in fixed income securities. Ideally, for a time horizon of 6 months to 3 years.

 

It is a scheme designed for investors seeking regular returns in the form of dividends or capital appreciation. Investing in capital bonds and debentures, the scheme has an active management style that emphasises quality of debt, tapping opportunities from interest rate changes and deriving maximum value by targeting undervalued sectors. It strives to deliver superior risk-adjusted returns by actively managing a portfolio of high quality fixed income securities.

The fund has increased its average maturity in the last two years and currently it is around 5 years. Its expense ratio has usually been on the higher side and within the range of 1.25 per cent to 2.25 per cent. Currently, it is around 1.92 per cent.

 

Performance
It has outperformed its category average 10 out of 16 times. In the past 3 years it has performed better than its peers. Its year-to-date return of 11.98 per cent is also higher than the category average return of 9.96 per cent.

 

Its best performance was in the year 2009 when it was ranked 9th out of 63 funds as it was one of the few funds to deliver positive returns. The fund was also part of the top quartile in 2011 as well as 2012.

 

Why invest?
The fund has changed its average maturity as per the fund manager's conviction. As its name suggests, the fund has build wealth for its investors with it earning a return of nine per cent since its launch. It has outperformed most of its peers in recent times.

 

 

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

 

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

 

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

 

Best Performing Mutual Funds

    1. Largecap Funds             Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds         Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds          Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds   Invest Online

      1. DSP BlackRock MicroCap Fund

2.       Franklin India Smaller Companies

E. Sector Funds          Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds      Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds        Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds         Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now
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