Bangalore: Kotak PSU Bank Fund emerged as the top fund of the week with the value going up by 4.054 percent in the last one week. The fund that has a Net Asset Value (NAV) of Rs 264.6767 holds 12 stocks including State Bank of India, Punjab National Bank and Bank of India. Sajit Pisharodi is the Fund Manager for this open-ended fund that has a fund size of 43.26 crore as on May 29, 2009. According to MutualFundsIndia.com, PSU Bank Benchmark Exchange Traded Scheme with a NAV of Rs 263.2711 was the second best fund for the week. The Fund that has 12 stocks in its portfolio saw a total gain of 4.0543 percent. The two Funds whose primary focus is the public sector banks were followed by other banking funds like Religare Banking Fund that went up by 2.616 percent, Reliance Banking Fund (Institutional) that gained 2.4273 and Reliance Banking Fund ended the week up 2.4262 percent. The shares of most of the banks have been in the green over the last week with IDBI Bank with a total gain of 11.33 percent and Bank of India up 10.42 percent making it to the top gainers list. Recently the Reserve Bank of India (RBI) had reduced some key policy rates, repo rate, at which the RBI lends to banks, was reduced by 100 bps to 6.5 percent. The reverse repo rate, at which banks deposit their money with the RBI, was also cut by 100 bps to five percent.