SBI Magnum Midcap Fund, best performer last week

By siliconindia   |   Monday, 27 July 2009, 22:22 IST   |    1 Comments
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SBI Magnum Midcap Fund, best performer last week
Bangalore: Following the rise in the value of SBI Magnum Midcap Fund by 7.7058 percent, the fund emerged as the top fund last week. The current Net Asset Value (NAV) of this open-ended fund is 18.45. Vivek Pandey manages this fund with a total size of 314.81 crores. The fund holds 36 stocks in its portfolio including Tech Mahindra, Suzlon Energy and Jet Airways. According to MutualFundsIndia.com, the second best performing fund last week was Franklin Infotech Fund, which primarily invests in IT stocks. The fund gained by 7.5905 percent and it currently has 12 stocks in its portfolio that includes major IT stocks like Tata Consultancy Service,Infosys and Wipro. Murali Krishna Yerram is the Fund Manager. Other funds that made it to the best performers list include Escorts Growth Plan Fund that went up by 7.269 percent, ICICI Prudential Technology Fund up 7.0539 percent and UTI Master Value Fund gained by 6.9963 percent. Recently, some mutual fund distribution companies, which predominantly cater to low-value retail investors, have decided not to charge for their services from customers beginning August. Even larger distributors, which handle a broader variety of clients including high net-worth investors and companies, have decided to keep a no-commission model open for smaller investors.