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SEBI Chairman G N Bajpai was the Guest of Honour at the awards
ceremony and presented Franklin Templeton Mutual Fund with the ‘Mutual
Fund of the Year Award’.
In addition to leaders from various fund houses, luminaries from
India’s financial services sector including senior regulators,
leading economists and analysts witnessed a host of awards being
presented to various mutual funds for their consistent performance
over time on the Crisil~CPR performance rankings framework.
Speaking at the CNBC-TV18 – Crisil Mutual Fund of the Year
Award ceremony CNBC-TV18 CEO Haresh Chawla said, "This is the
first time both CNBC-TV18 and Crisil have combined their long-standing
associations with the mutual fund industry, thus creating the biggest
Mutual Fund Awards in the region. The Mutual Fund of the Year Award
is used extensively as a benchmark by intermediaries as well as
investors today. CNBC- TV18 is determined to continue its endeavour
of helping investors make informed investing decisions based on
objective criteria."
Commenting at the Awards ceremony, Crisil managing director and
CEO R Ravimohan said, "The Crisil~CPR performance rankings
have over time developed into the industry benchmark for mutual
fund schemes in India, as they offer a robust, unbiased and objective
yardstick for recognition of consistent performance. Crisil has
a long-term commitment to the funds industry to help develop new
standards in benchmarking, valuation and other analytics. We are
happy to partner CNBC-TV18 in awarding the best performing funds."
According to Crisil executive director and chief rating officer
Roopa Kudva , "When Crisil launched Crisil~CPR in 2000, we
had two key objectives in mind - To establish for the growing mutual
fund industry a credible, objective and analytically rigorous measure
for recognition of consistent mutual fund performance; and, as part
of Crisil's ongoing initiatives -- to deepen India’s capital
markets. "
The mutual fund schemes, which were awarded the CNBC-TV18 –
Crisil Mutual Fund of the Year Awards for their consistent performance
in seven categories were:
Open-ended Equity Diversified Funds: Alliance Basic Industries
Fund, DSP Merrill Lynch Opportunities Fund, UTI Growth Value Fund
Open-ended Income Funds: Birla Income Plus Plan B, Principal
Income Fund
Open-ended Income Short Term Funds: Birla Bond Plus - Retail,
Principal Income Fund - Short Term Plan
Open-ended Balanced Funds: DSP Merrill Lynch Balanced Fund,
HDFC Prudence Fund
Open-ended Liquid Funds: Alliance Cash Manager, Prudential
ICICI Liquid Plan, Templeton India Treasury Management Account
Open-ended Gilt-Long Term Funds: Templeton India G-Sec Fund
- Composite Plan, Templeton India G-Sec Fund - Long Term Plan
Open-ended Monthly Income Plans: FT India Monthly Income
Plan
Consistent performance, as determined by the Crisil Composite Performance
Rankings (Crisil~CPR) methodology was used for deciding the award
winners. The eligibility criterion for being among the universe
for consideration for the Awards was fairly stringent - the schemes
had to qualify for all the four quarterly Crisil~CPRs in the year
2004.
Crisil FundServices analysed performances of the eligible schemes
on the following parameters: risk adjusted returns, portfolio constitution
of funds parameters like concentration, liquidity and asset quality.
Hence the analysis is forward looking as well. The schemes were
then ranked category-wise by computing the weighted average levels
of the parameter-wise performance.
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