2013•Zenith international journal of business economics and management researchRequires access
Performance evaluation of mutual fund schemes -With special refrence to SBI and UTI schemes
Harsh Vineet Kaur
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Abstract
The mutual fund industry since 2004 has witnessed several mergers and acquisitions, examples of which are acquisition of schemes of Alliance Mutual Fund by Birla Sun Life, Sun F&C Mutual Fund and PNB Mutual Fund by Principal Mutual Fund. Simultaneously, more international mutual fund players have entered India like Fidelity, Franklin Templeton Mutual Fund etc. The current paper seeks to evaluate and compare the performance of mutual fund schemes of UTI and SBI using Risk Adjusted Measures of Sharpe, Treynor, and Jensen and attempts to compare the performance of mutual fund schemes of UTI and SBI vis-a-vis the market. The study reveals that the average Return of SBI Mutual Fund Schemes was higher than that of UTI. The average beta in case of both SBI and UTI over the span of five years is less than one indicating that both of the Mutual Fund Schemes have been defensive.