Financial Daily from THE HINDU group of publications
Tuesday, Feb 01, 2005
Financial Daily from THE HINDU group of publications Tuesday, Feb 01, 2005 |
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Markets
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Mutual Funds ICRA Online MF awards presented Our Bureau
(From right) Mr John Rutherfurd, CEO, Moody's Corp, with Mr D.N. Ghosh, Chairman, ICRA and Mr A.P. Kurian, Chairman, AMFI, at the ICRA Online Mutual Funds Award function in Mumbai on Monday. — Paul Noronha
Mumbai , Jan. 31 THE LIC Chairman, Mr R.N. Bharadwaj, distributed the ICRA Online Mutual Fund Rankings Awards, at a function held here on Monday. Under the one-year performance category of `long-term debt', Tata Dynamic Bond Fund was awarded the gold, while Reliance Income Fund and Deutsche DBF tied in for the silver. In the short-term debt category, the gold award went to Principal Income Fund-STP while the silver went to Prudential ICICI-STP. The Kotak Bond Deposit scheme won the gold under the three-year performance category of `long-term debt', while Birla Income Plus won the silver. Under the long-term gilt category, Tata Gilt Securities Fund won the gold while the silver went to Templeton India GSF-LTP. Speaking at the function, Mr A.P. Kurian, Chairman, Association of Mutual Funds India, called upon mutual funds to work at simplifying technical financial jargon for the benefit of retail investors. Last year, many funds outperformed the benchmark stock index and, therefore, there is scope to enhance retail participation in this sector. Mr John Rutherfurd, CEO, Moody's Corporation said, "India has a high savings rate which is a great national asset. "The advantage of having a broad spectrum of investment opportunities is that citizens can choose how to deploy their assets and how to participate in the growth of the country." ICRA Online Mutual Fund (MF) Rankings seek to inform investors and intermediaries of the category-wise relative performance of MF schemes. The schemes are ranked using the methodology developed jointly by ICRA Ltd and ICRA online Ltd.
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