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hdfc mutual fund

hdfc mutual fund

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Published by: rameshmba on Apr 30, 2008
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01/04/2013

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Indian academy school of management studies

58

SEBI

ASSOCIATION OF MUTAUL
FINDS

MUTUAL FUNDS

SPONSOR

BOARD OF
TRUSTEES

ASSET
MANAGEMENT
COMPANY

CUSTODIA
N

INVESTOR
S

PUBLIC SECTOR

PRIVATE
SECTOR

UTI

BANKS
SPONSORE
D

FI

SPONSORED

MUTUAL FUND SCHEMES

Mutual fund schemes are periodically evaluated by independent institutions. CRISIL, Value
Research India, and Economic Times are three such institiutions whose rankings or
evaluations are currently very popular.

CRISIL Credit Rating nd Information Services of India Limited (CRISIL) carries out
Composite Performance Rankings that cover all open-ended schemes that disclose their entire
portfolio composition and have NAV information for at least two years. It currently ranks
schemes in five categories, viz., Equity Schemes, Debt Schemes, Gllit Schemes, Balanced
Schemes, and Liquid Schemes. Its ranking is based on four criteria, viz., risk-adjusted return
of the scheme’s NAV, diversification of the portfolio, liquidity, and asset size. The weights
assigned to these criteria vary from category to category.within each category, the top 10
percent are considered vbery good, thenext 20 percent good, the next 40 percent average, the
next 20 percent below average, and the last 10 percent poor.

Value research India like CRISIL, value research India rates schemes in different categories.
Each scheme is assigned a risk grade and a return grade and a composite measure of
performance is calculated by subtracting the risk grade from the return grade. Within each
category, the top 10 percent are consideree five star, the next 22.5 percent four star, the next
35 percent three star, the next 22,5 percent two star, and the last 10 percent one star.

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