Gainers and Losers in Mutual Funds

Kotak Opportunities
Q1 (Jun ‘10) Returns: 4.00%
AUM: Rs 1,128.46 crore
Fund Manager: Krishna Sanghvi & Pankaj Tibrewal

We takes this opportunity to welcome Kotak Opportunities back to its gold ratings. The scheme, which had always been bagging either gold or platinum rating since the time it joined the quarterly mutual fund ratings in September ‘07, was pushed down to silver for the very first time last quarter, much to the disappointment of all its investors. Reckoned as one of the better performing schemes of the industry, it is good to see Kotak Opportunities pull up its socks and move back to gold this quarter.

DSP Blackrock Tax Saver
Q1 (Jun ‘10) Returns: 5.86%
AUM: Rs 874.61 crore
Fund Manager: Anup Maheshwari & MS Rajani

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UTI Dividend Yield
Q1 (Jun ‘10) Returns: 5.12 %
AUM: Rs 2,364.08 crore
Fund Manager: Swati Kulkarni

Dividend yield funds, which aim to invest in companies that have a high dividend yield, actually came into the limelight during the meltdown phase of 2008, with investors recognising their ability to provide decent returns with downside protection. UTI Dividend Yield has been steadily moving up in performance since then. It first moved to gold in December ‘08 and then to platinum by March ‘09 only to fall back to the gold rating in June ‘09. After consistently maintaining its position as a gold rated scheme since then, the fund has once again moved up to platinum grade this quarter. Kudos to the team for a superb performance.

DSP Blackrock Tax Saver had made an impressive ‘golden’ debut in the quarterly mutual fund ratings last quarter. But this time round, it has been beaten down by its peers, pushing it down a notch to silver. As the fund is relatively new in the market, it has got a great task in hand to prove its worth over its well-established peers in the tax saving category of funds. Buck up DSP Blackrock Tax Saver and prove that you hail from a fund house which has generated only winners.

Birla Sun Life Midcap
Q1 (Jun ‘10) Returns: 1.74 %
AUM: Rs 1,865.98 crore
Fund Manager: Sanjay Chawla

Despite being a mid-cap fund, Birla Sun Life Midcap was in the limelight only during the market recovery phase of 2009 and since then has turned out to be one of the most popular schemes from the Birla Sun Life basket. It had moved to platinum rating a couple of quarters back but has moved down to gold this time round. While this slight downward move is no big concern, we would appreciate if the fund moves back to platinum.