Top Mutual funds in India

Mutual Funds NAV - The Net Asset Value or NAV is the current market value of a fund's holdings that decrease the fund's liabilities
which are usually expressed as a per share amount. For most funds, the NAV is determined on a daily basis after the closing of some
trade on certain financial exchanges. Mutual funds NAVs are calculated after the trading day is over. If the NAV increases, it implies the
value of the Shareholder's holdings increase. The Fund Company will then sell the shares at the particular price along with the sales fees.
The open-ended mutual funds' NAV are published everyday while close -ended mutual funds' NAV are published weekly. To calculate the
mutual fund's NAV, one must take the current market value of the fund's net assets. Divide this by the number of shares that are
outstanding.

Best Mutual Funds - Some of the best mutual funds include:

Reliance Mutual Fund has reaped a lot and has regained the third position among fund houses after a change in fund management
team. Reliance Vision Fund has returned 47.7% and 66% CAGR in the past three and five years respectively. This was against the
category average of 43.6 and 45.!% CAGR. They have come out with the top two schemes and managed their risk elements well,
outdone the Sensex and the category average too. Its strong focus is one equities and its knack for picking the winning stocks on the
street.

SBI Magnum Contra Fund is a diversified equity scheme that adheres to the Contrarian strategy. SMCF is aims to invest in scrips and
those sectors which are currently out-of-fashion and hold potential. These scrips and sectors are available at cheaper valuations and are
appreciative when markets realize their potential. SMCF has outperformed the category average across all time periods and has returned
a good 65.3 %in the past five years as against 45.1% by the category average and 34.1% by Sensex.

DSP Merill Lynch Opportunities Fund (DMOF) is a diversified equity fund that invests in scrips in various market caps. This company
has been a fairly consistent player over time.

The DSP ML Tiger Fund has been one of the best schemes from the fund house and has performed better than DSPML Opportunities
Fund. This is a more thematic fund and carries a high risk factor as compared to DMOF which is more diversified and better equipped for
the next three years.

Franklin India Flexi Cap is all about multi cap funds that aim to invest in scrips across all market capitalization. When large-cap stocks
start doing well, these schemes tilt towards large-cap stocks. When mid cap scrips do well, they invest more in mid-cap stocks. FIFCF in
the past has returned 64.4% while the Sensex returned 64%. It had one of the lowest downside risk figures of all schemes. This scheme
has grown by 66% in one and a half years. The fund size is of trivial importance as this fund house can manage 4 large schemes like
Franklin India Blue chip Fund (Rs 2,546.01 crore) and Franklin India Prima Fund (Rs 1,790.39 crore).

HDFC Equity Fund has been in the top two quartiles owing to its superior risk adjusted return. HEF invests in large cap stocks that have
a lower risk compared to mid-cap stocks. The large cap companies are well-established with a relatively sound, long term record. As
compared to the small and medium companies, they are less volatile. HEF has limited its exposure to the mid-cap stocks segment to just
25% and has remained a large cap oriented equity fund. It has just 34% of the corpus in mid-caps and 54% in large caps.

Prudential ICICI Dynamic Fund has 34% of the corpus in mid-caps and 54% in large caps. PIDF follows the strategy of a bottom-up
stock picking strategy and prefers investing in those companies that have the potential to compound cash flows over the several years.
Considering the past two years, PIDP comes fifth on the list of 86 schemes. It has returned 6.5% against 50% by category average and
51% by Sensex.

SBI Mutual Fund is a fully owned subsidiary of the State Bank of India. It is India's premier bank with the largest banking operation in
the country. SBI Mutual Fund incorporates certain working philosophy in their strategy while they put in investors' money in its stable in
order to have a full control of the risks concentrating for growth at a reasonable price. It does locate certain competitive advantage
before investing. The strategy of top down and bottom up approaches are followed. While the former is for sector allocation, the latter is
for stock selection.

While looking at investment opportunities and scenario, SBI Mutual Funds employ a multi stage filtering process that includes a first level
look at liquidity, the second level is at management quality, the third level is for competitive position and the fourth is for the share price
evaluation. It aims at the risk adjusted returns based on the investors' risk tolerance level in the debt sector. The following four steps
are followed :

1. To Manage the schemes on the basis of a portfolio

2. An Active management of interest drawn rate risk.
3. A Credit risk management using the conservative approach
4. A Continuous and consistent monitoring.

Reliance Mutual Fund (RMF) - this was established under the Indian Trusts Act, 1882. The sponsor of Reliance Mutual Fund is
Reliance Capital Limited and Reliance Capital Trustee Co. Limited is the trustee. RMF was formed for launching the various schemes
under which units were distributed to the Public. This aims at the capital market and provides investors the opportunities to make
innumerable investments in diversified securities.