Birla Sun Life Tops VR Star Ratings

The constituents of the Value Research Star Ratings, the mutual fund constellation, has not seen too many changes in the last few months, regarding their place in the top funds’ list.

After registering a modest fall of 0.02 per cent in August, BSE Sensex gained a handsome 9.32 per cent in September, 2009, virtually doubling in six months.

The gains by BSE Sensex were mirrored by BSE SmallCap, which registered a growth of 8.48 per cent. In comparison, BSE MidCap gained 7.50 per cent. Apart from BSE Bankex, the rally was led by BSE Metal, and BSE Auto indices.

This month, four funds, namely one each in the Short Term Debt and Equity Diversified and two in Liquid Plus Debt joined the Value Research ratings family.

While DWS Ultra Short Term Regular (Liquid Plus Debt) and ING C.U.B. (Equity Diversified) straightaway jumped into the elite category and grabbed a 4-star rating, Religare Short Term Retail (Short Term Debt) and Mirae Asset Ultra Short Term Bond (Liquid Plus Debt) grabbed the 2-star and 1-star rating respectively.

Two funds namely LIC MF Income Plus (Liquid Plus Debt) and Fortis Overnight Inst Plus (Ultra Short Term Institutional Debt) registered the maximum change in terms of rating adding more stars. While the former jumped to 4-star rating from 2-star, the latter gained a 3-star this time from its earlier 1-star status.

There were 34 funds in all which gained one star rating this month in various categories while there were 449 among them which did not register any change and continued with their earlier status, while 36 of them lost 1-star.

However, AIG India Liquid Super Institutional, which falls under the Ultra Short Term Institutional Debt category lost its elite status and lost 2-stars this month. The fund which had a 5-star rating last month secured a 3-star rating this month.

Birla Sun Life continued to top the charts as far as the number of rated funds under it are concerned as 41 of its funds were rated. Notching up the second place, Franklin Templeton had 39 of its funds rated while UTI remained third in the table with 36 of its fund being rated.

UTI, ICICI Prudential and Reliance fund houses had the maximum number of funds with 5-star rating - each has six 5-star rated funds. While, if we combine both 4- & 5-star funds, Birla Sun Life tops the charts with 15 funds and following it is HDFC and Franklin Templeton with 13 each. SBI, Tata and UTI fund houses had the maximum 2-star ratings with 14, 11 and 10 respectively.

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