Classifying Mutual Funds in India : Some Results from Clustering

This paper attempts to classify hundred mutual funds employing cluster analysis and using a host of criteria like the 1 year total return, 2 year annualized return, 3 year annualized return, 5 year annualized return, alpha, beta, R-squared, sharpe's ratio, mean and standard deviation etc. The data is obtained from Valureserachonline. We do find evidences of inconsistencies between the investment style/objective classification and the return obtained by the fund