Page 20 - Banking Finance July 2020

MUTUAL FUND

MUTUAL FUND

NEWS
NEWS
NEWS
NEWS
NEWS

SBI Mutual Fund appoints Pharma sector mutual The category manages assets worth
Rs. 9,035 crore. The largest fund in
Vinay Tonse as MD and funds give 58% returns, the category is Nippon India Pharma

CEO top the charts in one year holding Rs. 3,496 crore AUM. The
The country's largest fund house - SBI Pharma sector mutual funds have out- scheme gave 61% returns in the last
Mutual Fund performed all other mutual fund cat- one year.
(MF) - has ap- egories in the last one year. Pharma Pharma sector has clearly outdone all
pointed mutual funds are topping the return other sectors in the last one year.
Vinay Tonse charts with over 58% returns in the Other sectors which gave positive re-
(pictured) its last one year. The category has out- turns include Nifty IT, Nifty Oil & Gas,
managing di- paced gold mutual funds which grew Nifty Auto, Nifty FMCG and Nifty En-
rector and by over 37% in the same time period. ergy.
chief execu- Pharma funds on an average have
The attractive returns can lure anyone
tive officer, grown by over 45% year-to-date.
but investors should understand that
after The benchmark index for pharma the sector funds are not for everybody.
Ashwani funds, Nifty pharma index grew by Only those investors who understand
Bhatia moved to State Bank of India 51.5% in the last one year and by 44% the risks involved in sector funds and
(SBI) to takeover the reins of the bank. since the beginning of this year. those who know how to play defensive
Tonse was serving as chief general can invest. Retail investors should stay
The sector is booming as investors rush
manager of the Chennai circle in SBI away.
towards defensive stocks due to uncer-
and was heading SBI's business & op-
tainty caused by the ongoing covid19
erations in Tamil Nadu and Puducherry. pandemic. Sebi didn't give nod to
"It is a huge responsibility to manage The one-year returns of nine pharma shut Franklin MFs
the growth dynamics of the number sector mutual funds fall between 48%
one fund house in the country. One and 70%, shows Value Research. DSP Franklin Templeton India did not take
which offers best-in-class investment Healthcare Fund generated the high- any approval from the Securities and
solutions through a process driven ap- Exchange Board of India (Sebi) before
est returns of 69.80% in the last one shutting down six of its struggling debt
proach which is high on transparency,
year. schemes, according to the markets
convenience and value creation. With
our vast distribution network, we will Mirae Asset Healthcare and ICICI Pru regulator's response to a recent right
further strive to take the benefits of Pharma Healthcare & Diagnostics to information (RTI) application.
capital markets to investors across the (P.H.D) Fund followed with 68% and According to public statements by
country," Tonse said. 63% one-year returns respectively. Franklin, the regulator was informed

20 | 2020 | JULY | BANKING FINANCE