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Performance Evaluation of Equity Oriented Growth Funds of Selected Mutual Funds Companies in India

Author

Listed:
  • M. Krishnamoorthi

    (Priyadarshini Engineering College)

  • V. Sundhara Moorthy

    (Bharathiar University)

  • D. Vetrivelan

    (Priyadarshini Engineering College)

Abstract

Mutual funds have become attractive investment option over the last few years. A mutual fund invites the prospective investors to join the fund by offering various schemes so as to suit to the requirements of categories of investors. The aim of growth funds is to provide capital appreciation over the medium to long term. Such schemes normally invest a majority of their corpus in equities. This study aims to analyze the average return and the risk involved in investing in the mutual funds. BETA value is calculated for all six companies to know whether investment in that company is risky or not. In this study, risk adjusted methods of Sharpe, Treynor, and Jenson alpha measure have been used for the performance evaluation of growth and dividend open-ended schemes of equity funds of mutual funds in the mutual fund industry. Yearly return analysis performed on the sample of equity fund of mutual funds clearly showed that all sample funds earned positive returns in the excess of the risk free rate of return over the study period. These funds are supposed to be the best investment vehicle for small investors, but it has observed from the market and other reliable sources that mutual funds have not reached to their expectations.

Suggested Citation

  • M. Krishnamoorthi & V. Sundhara Moorthy & D. Vetrivelan, 2018. "Performance Evaluation of Equity Oriented Growth Funds of Selected Mutual Funds Companies in India," Shanlax International Journal of Management, Shanlax Journals, vol. 5(S3), pages 1-6, April.
    • Handle: RePEc:acg:managt:v:5:y:2018:i:s3:p:1-6
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