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首页> 外文期刊>International Journal of Accounting Research >Performance Evaluation of Indian Equity Mutual Funds against EstablishedBenchmarks Index
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Performance Evaluation of Indian Equity Mutual Funds against EstablishedBenchmarks Index

机译：根据既定基准指数评估印度股票共同基金的绩效

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摘要

In this paper, an attempt has been made to analyses the performance of equity mutual funds industry against risk free rate and benchmarks return over the five years. The samples consists 10 growths oriented- open ended- equity mutual fund schemes belong to 5 public and 2 private mutual fund companies. Results are tested through risk-return analysis, Coefficient of Variation, Treynor’s ratio, Sharp’s ratio, Jensen’s measure, Fama’s measure and Regression analysis. The data used is monthly closing NAVs and benchmark market index closing for the study period of April 2007 to March 2012. The risk return analysisrevealed that out of 10 schemes 3 have underperform the market, 7 are found to havelower total risk than the market and all the schemes have given returns higher than risk free rates. The Treynor ratio of all the mutual funds scheme are over perform the benchmark market index and Sharpe ratio of 3 mutual funds scheme underperform the benchmark market index. The result of regression analysis suggests that benchmark market return index has statistically significant impact on mutual fund return at 5% level of significance.
机译：在本文中，我们尝试根据无风险利率和五年基准回报来分析股票共同基金行业的表现。样本包括10个以增长为导向的开放式股票共同基金计划，这些计划分别属于5家公共和2家私人共同基金公司。结果通过风险收益分析，变异系数，特雷诺比，夏普比，詹森测度，法玛测度和回归分析进行测试。所使用的数据是2007年4月至2012年3月研究期间的月末资产净值和基准市场指数收盘。风险回报分析显示，在10个方案中，有3个的市场表现不佳，有7个的总风险低于市场，而所有这些计划的回报率高于无风险利率。所有共同基金计划的Treynor比率均超过基准市场指数，而3个共同基金计划的Sharpe比率均逊于基准市场指数。回归分析的结果表明，基准市场收益指数对共同基金收益的统计影响显着水平为5％。

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