ICICI Tech Fund tops MF scheme last week
Bangalore: ICICI Prudential Technology Fund tops the mutual fund scheme last week. In the week ended October 23, 2009, the value of ICICI scheme went up by 3.4 percent with the net asset value (NAV) of 
12.35. Mrinal Singh is the Fund Manager of this open ended scheme, which had a market size of 89.39 crore as on September 30, 2009. Some of the key holdings of the fund are Infosys Technologies, Eclerx Services, Infotech Enterprises and Wipro.
The objective of the scheme is to generate long-term capital appreciation for investors from a portfolio made up predominantly of equity and equity-related securities of technology intensive companies. According to mutualfundsindia.com, other funds which followed ICICI Prudential Technology Fund in top list for the last week are Franklin Infotech Fund, Birla Sun Life Commodity Equities Fund and DSP BlackRock Technology.com Fund with a growth rate of 3.33, 3.03 and 2.64 percent respectively.
Mutual funds are sitting on a whopping 13,957.4 crore of cash, which is waiting to be deployed in the market. The total assets under management (AUM) of equity mutual funds stood at 213,043.5 crore in September 2009, a growth of 5.4 percent from August 2009. On adjusting for the net inflows/outflows, the growth stood at 6.4 percent, which was marginally lower than the growth in the market, which grew by 7.5 percent in the same period.
Birla Sun life Mutual Fund saw the largest increase of 2,008.9 crore in its AUM, followed by Baroda Pioneer and Canara Robeco Mutual Fund. Fund flows into the existing schemes declined by 11.5 percent. The NFO (new fund offer) collections include the amounts raised by Shinsei Industry Leaders Fund, Kotak Select Focus, Sahara Star Value Fund, Franklin Build India Fund and Canara Robeco FORCE Fund.
In line with the upward trend in the equity markets during the month, all sector funds delivered positive returns in September 2009 except the FMCG (fast moving consumer goods) index, which gave a slightly negative return.
While banking, automobile and pharmaceutical funds outperformed the Sensex, the FMCG funds underperformed the Sensex. The information technology (IT) funds delivered returns that were in line with the Sensex. Banking funds gave the highest returns in September 2009, followed by automobile and pharmaceutical funds.
12.35. Mrinal Singh is the Fund Manager of this open ended scheme, which had a market size of 89.39 crore as on September 30, 2009. Some of the key holdings of the fund are Infosys Technologies, Eclerx Services, Infotech Enterprises and Wipro.
The objective of the scheme is to generate long-term capital appreciation for investors from a portfolio made up predominantly of equity and equity-related securities of technology intensive companies. According to mutualfundsindia.com, other funds which followed ICICI Prudential Technology Fund in top list for the last week are Franklin Infotech Fund, Birla Sun Life Commodity Equities Fund and DSP BlackRock Technology.com Fund with a growth rate of 3.33, 3.03 and 2.64 percent respectively.
Mutual funds are sitting on a whopping 13,957.4 crore of cash, which is waiting to be deployed in the market. The total assets under management (AUM) of equity mutual funds stood at 213,043.5 crore in September 2009, a growth of 5.4 percent from August 2009. On adjusting for the net inflows/outflows, the growth stood at 6.4 percent, which was marginally lower than the growth in the market, which grew by 7.5 percent in the same period.
Birla Sun life Mutual Fund saw the largest increase of 2,008.9 crore in its AUM, followed by Baroda Pioneer and Canara Robeco Mutual Fund. Fund flows into the existing schemes declined by 11.5 percent. The NFO (new fund offer) collections include the amounts raised by Shinsei Industry Leaders Fund, Kotak Select Focus, Sahara Star Value Fund, Franklin Build India Fund and Canara Robeco FORCE Fund.
In line with the upward trend in the equity markets during the month, all sector funds delivered positive returns in September 2009 except the FMCG (fast moving consumer goods) index, which gave a slightly negative return.
While banking, automobile and pharmaceutical funds outperformed the Sensex, the FMCG funds underperformed the Sensex. The information technology (IT) funds delivered returns that were in line with the Sensex. Banking funds gave the highest returns in September 2009, followed by automobile and pharmaceutical funds.