IJIRST (International Journal for Innovative Research in Science & Technology)ISSN (online) : 2349-6010

 International Journal for Innovative Research in Science & Technology

A Study on Performance Evaluation of Mutual Funds Schemes in India


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International Journal for Innovative Research in Science & Technology
Volume 2 Issue - 11
Year of Publication : 2016
Authors : N. BHAGYASREE ; MRS.B.KISHORI

BibTeX:

@article{IJIRSTV2I11203,
     title={A Study on Performance Evaluation of Mutual Funds Schemes in India},
     author={N. BHAGYASREE and MRS.B.KISHORI},
     journal={International Journal for Innovative Research in Science & Technology},
     volume={2},
     number={11},
     pages={812--816},
     year={},
     url={http://www.ijirst.org/articles/IJIRSTV2I11203.pdf},
     publisher={IJIRST (International Journal for Innovative Research in Science & Technology)},
}



Abstract:

The present paper investigates the performance of open-ended, growth-oriented equity schemes for the period from April 2011 to March 2015 of transition economy. Daily closing NAV of different schemes have been used to calculate the returns from the fund schemes. BSE-sensex has been used for market portfolio. The historical performance of the selected schemes were evaluated on the basis of Sharpe, Treynor, and Jensen’s measure whose results will be useful for investors for taking better investment decisions. The study revealed that 14 out of 30 mutual fund schemes had outperformed the benchmark return. The results also showed that some of the schemes had underperformed; these schemes were facing the diversification problem. In the study, the Sharpe ratio was positive for all schemes which showed that funds were providing returns greater than risk free rate. Results of Jensen measure revealed that 19 out of 30 schemes were showed positive alpha which indicated superior performance of the schemes.


Keywords:

Jensen measure, Mutual funds, performance evaluation, Sharpe measure, Treynor measure


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