How have MFs fared this year?

By Shailendra Bhatnagar, CNBC-TV18

The top losers on a week-on-week basis have been JM Emerging down 9.9%, JM Hi-Fi down 9.7% and JM Small and Midcap 9.2%. On a YTD basis, JM Emerging is down 46%, JM Hi-Fi is down 55% and JM Small and Midcap is sown 44%.

Since last week, the top gainers have been AIG World Gold, up 2.5% and 4% from debut. Sundaram Entertainment is up 0.1% since last week and 0.5% from debut.

In the last one-week, the Sensex and Nifty posted a negative return of 4.9% and 5.3% respectively. This year, Sensex and Nifty have given negative returns YTD of 32.6% and 31.9% respectively.

All equity fund categories have shown losses last week. Only 2 out of 284 funds have gained last week. FMCG and the auto sector funds posted the biggest losses. FMCG fell 6.2% and auto declined 7.6% last week.

Most of these funds have gone top-heavy on sectors such as infrastructure; the L&T, the BHELs of the world and also construction companies. These funds have been really hammered very badly over the last week. Some of the companies have fallen between 15-20% and today was no exception. But generally the sector-specific funds have gone off fairly sharply compared to the equity-diversified pack.