DSP Fund outperforms others

MUMBAI, July 8: The DSP Merrill Lynch Equity Fund has outperformed the other open-ended growth schemes in the market over the two-month period May-June 1997, according to a study by Kensource Information Services.The analysis showed that NAV of the scheme8217;s units moved up 14.04 per cent to Rs 11.29 on June 30 from Rs 9.90 on April 30. Next were Birla Advantage and Reliance Vision with a 12.95 per cent and 12.94 per cent gain respectively, followed by ITC Threadneedle with a 11.05 per cent gain during the period. They have all outperformed the popular indices 8212; the Nifty, the Sensex, the BSE National and the CRISIL 500 which have registered gains of 10.51 per cent, 10.80 per cent, 11.02 per cent and 9.02 per cent respectively during the period.

DSP Merrill8217;s success may also also have been due to the fact that it entered the market when the financial year was over, the political uncertainty was getting over and there was more certainty about results expectations and sectoral prospects.In fact, all the growth schemes have gained. However, the performance of many older funds leaves a lot to be desired. Interestingly, out of the four top performers, three 8212; DSP, Birla and ITC 8212; have a foreign tie-up.