International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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RISK- RETURN DYNAMICS OF HYBRID MUTUAL FUND SCHEMES

    2 Author(s):  DR. SURESH K. MITTAL, RICHU

Vol -  9, Issue- 1 ,         Page(s) : 264 - 273  (2018 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

The assets under management (AUM) of the Indian Mutual Fund Industry has grown from Rs. 3.26 trillion as on 31st March 2007 to Rs. 21.27 trillion as on 31st December, 2017 which issix and half fold in a time span of 10 and half years. Indian Mutual Fund Industry registered compound annual growth rate (CAGR) of 20.63% over period of 2007-2017. The purpose of this paper is to analyze the performance of hybrid schemes in this highly growing industry. In present study, data of hybrid mutual fundschemes namelyAditya Birla Sun Life Balanced’95 Fund, HDFC Balanced Fund, Baroda Pioneer Balance Fund, Franklin India Balanced Fund and DSP BlackRock Balanced Fund have been taken from January 1, 2012 to December 31, 2017 and The data has been analyzed by geometric return, standard deviation, beta, Sharpe index, Treynor index and Jenson’s alpha. The study found that all balanced schemes beat market index i.e. NIFTY 50. It was also found that HDFC Balanced Fund gave highest return and Baroda Pioneer Balanced Fund performed worst amongst all. An investor, before investing in a scheme, shouldalso analyze other factors likeinvestment objective, time horizon and risk appetite of himself and fund manager’s efficiency, expense ratio, image of fund house.

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