International Journal of Applied Research
Vol. 7, Issue 1, Part B (2021)
Risk – return analysis of selected open-ended equity mutual fund schemes in India
The present paper attempted to examine the risk-return characteristics of selected open-ended equity mutual fund schemes in India. Ten open-ended equity mutual funds (Direct plan-Growth schemes), five each from large-cap and mid-cap category formed the sample for the study. The period of study was from April 2013 to March 2019. The study was exclusively based on secondary data and used monthly closing Net Asset Value (NAV) of selected schemes from the website of Association of Mutual Funds in India (AMFI), return of various market indices from the websites of National Stock Exchange of India limited (NSE) and Bombay Stock Exchange (BSE) and the rate of return of 364 days Treasury bill from Handbook of Statistics on Indian Economy published by Reserve Bank of India (RBI). Average return, Standard deviation and Beta for measurement of risk, various risk adjusted performance evaluation techniques such as Sharpe Ratio, Treynor’s Ratio, Sortino Ratio and Jensen’s Alpha were the statistical tools used for studying the risk-return characteristics of the selected funds. Risk-return analysis of the funds using various risk adjusted performance evaluation techniques revealed that, the top performers are Mirae Asset Large-cap Fund and Invesco India Mid-cap Fund in the Large-cap and Mid-cap categories respectively. All the selected mutual fund schemes exhibited satisfactory performance during the study period and are good choice of investment for potential investors.
How to cite this article:
Akhila Raju. Risk – return analysis of selected open-ended equity mutual fund schemes in India. Int J Appl Res 2021;7(1):71-77.