A comparative study on performance of equity, debt and hybrid mutual fund schemes in india

Y. Maheswari, Reddy P. Raghunadha
{"title":"A comparative study on performance of equity, debt and hybrid mutual fund schemes in india","authors":"Y. Maheswari, Reddy P. Raghunadha","doi":"10.26634/jmgt.17.2.19130","DOIUrl":null,"url":null,"abstract":"The Indian Mutual Fund Industry is segmented and grounded on asset classes (Debt-Oriented Schemes, Equity-Oriented Schemes, Money Market Funds, ETFs and FoFs) and sources of funds (banks, retail investors, Indian institutional investors, FIIs, insurance companies, and other sources). The Average Assets Under Management (AAUM) of the Indian Mutual Fund Industry for the month of February 2022 lay at 39,87,990 crore. The AUM of the Indian MF Industry has raised from 7.20 trillion as on September 30, 2012 to 38.42 trillion as on September 30, 2022 further than 5 fold expansion in a span of 10 years. The MF Industry's AUM has raised from 20.40 trillion as of September 30, 2017 to 38.42 trillion as of September 30, 2022, around a 2-fold expansion in a span of 5 years. The entire number of accounts (or folios, as per mutual fund parlance) as of September 30, 2022, was at 13.81 crore (138.1 million), while the number of folios under equity, hybrid, and solution-oriented schemes, wherein the utmost investment is from the retail segment, stood at around 11.03 crore (110.3 million). The Indian mutual fund industry over the years noted a dramatic improvement in terms of volume as well as quality of the product and service offerings. In this paper, equity, debt, and hybrid mutual fund performance evaluation is measured through statistical ratios like standard deviation, beta, Sharpe's ratio, Jensen's alpha, and Treynor's ratio. All the ratios were calculated based on the daily returns over the last 3 years. The data was taken from the websites, and the yearly return was calculated on the basis of NAV. The results were obtained from a sample of 8 equity funds, 8 debt funds, and 8 hybrid funds. It was found that an investor must take the risk ratios into consideration before investing.","PeriodicalId":405913,"journal":{"name":"i-manager’s Journal on Management","volume":"98 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"i-manager’s Journal on Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.26634/jmgt.17.2.19130","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1

Abstract

The Indian Mutual Fund Industry is segmented and grounded on asset classes (Debt-Oriented Schemes, Equity-Oriented Schemes, Money Market Funds, ETFs and FoFs) and sources of funds (banks, retail investors, Indian institutional investors, FIIs, insurance companies, and other sources). The Average Assets Under Management (AAUM) of the Indian Mutual Fund Industry for the month of February 2022 lay at 39,87,990 crore. The AUM of the Indian MF Industry has raised from 7.20 trillion as on September 30, 2012 to 38.42 trillion as on September 30, 2022 further than 5 fold expansion in a span of 10 years. The MF Industry's AUM has raised from 20.40 trillion as of September 30, 2017 to 38.42 trillion as of September 30, 2022, around a 2-fold expansion in a span of 5 years. The entire number of accounts (or folios, as per mutual fund parlance) as of September 30, 2022, was at 13.81 crore (138.1 million), while the number of folios under equity, hybrid, and solution-oriented schemes, wherein the utmost investment is from the retail segment, stood at around 11.03 crore (110.3 million). The Indian mutual fund industry over the years noted a dramatic improvement in terms of volume as well as quality of the product and service offerings. In this paper, equity, debt, and hybrid mutual fund performance evaluation is measured through statistical ratios like standard deviation, beta, Sharpe's ratio, Jensen's alpha, and Treynor's ratio. All the ratios were calculated based on the daily returns over the last 3 years. The data was taken from the websites, and the yearly return was calculated on the basis of NAV. The results were obtained from a sample of 8 equity funds, 8 debt funds, and 8 hybrid funds. It was found that an investor must take the risk ratios into consideration before investing.
印度股票、债务和混合共同基金计划绩效的比较研究
印度共同基金行业是细分的,并基于资产类别(债务导向计划,股票导向计划,货币市场基金,etf和fof)和资金来源(银行,散户投资者,印度机构投资者,外国投资机构,保险公司和其他来源)。2022年2月,印度共同基金业的平均管理资产(AAUM)为39,87,990亿卢比。印度MF行业的资产管理规模已从2012年9月30日的7.20万亿美元增加到2022年9月30日的38.42万亿美元,在10年内增长了5倍多。MF行业的资产管理规模已从2017年9月30日的20.40万亿美元增加到2022年9月30日的38.42万亿美元,在5年的时间里增长了约2倍。截至2022年9月30日,整个账户(或投资组合,根据共同基金的说法)的数量为1381亿(1.381亿),而股票,混合和面向解决方案的投资组合的数量约为110.3亿(1.103亿),其中最大的投资来自零售部门。多年来,印度共同基金行业在产品和服务的数量以及质量方面都取得了巨大进步。本文通过标准差、beta、Sharpe’s ratio、Jensen’s alpha和Treynor’s ratio等统计比率来衡量股票、债务和混合型共同基金的绩效评价。所有的比率都是根据过去3年的日收益计算的。数据来源于网站,年收益率以资产净值为基础计算。结果从8只股票基金、8只债务基金和8只混合基金的样本中获得。研究发现,投资者在投资前必须考虑风险比率。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
自引率
0.00%
发文量
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:604180095
Book学术官方微信