PERFORMANCE EVALUATION OF SELECTED MUTUAL FUND EQUITY GROWTH SCHEMES IN INDIA: WITH SPECIAL REFERENCE TO INFRA, TECHNOLOGY & BANKING SECTOR

Abstract

Mutual funds are an essential component of the stock market, which in the latest years has become an investment route for many investors. Mutual funds provide a diverse class of investors with investment choices under varying rates of risk and return. The current research aims to assess the efficiency of Indian sectoral mutual fund equity growth schemes in India (Infrastructure, Banking and Technology) through various performance measurement models like Sharpe, Treynor and Jensen for the period 2010 to 2019. For the present study, 91-day T-BiIls return has been taken as a risk-free rate i.e., 7.46 percent p.a. The objective of the study is to analyze the performance of sectoral mutual fund schemes and understand the relationship between sector scheme return and the benchmark return. Kendall’s Coefficient of Concordance and Karl Pearson’s Coefficient of Correlation have been used. The research result reveals that all chosen schemes performed better than the benchmark return.