Performance Analysis of Mutual Funds – A Comparative Study on Equity Diversified Mutual Fund

In this paper, study has been made to analyse the performance of ten growth oriented equity diversified mutual fund schemes (MFS) viz., Franklin India High Growth Cos fund, UTI MNC Growth fund and etc., against risk free rate, and return over benchmarks indices viz., nifty 500, BSE 200, BSE SENSEX, nifty MNC. The performance of selected mutual funds Schemes are analyzed using monthly closing net asset values and benchmark market index during the April 2010 to march 2015 through risk-return analysis, Sharpe's ratio, Treynor' s ratio, Jensen's measure, Fama's measure and Regression analysis. The risk return analysis, Sharpe ratio, Treynor ratio, Jensen alpha measure reveals that selected MFS over performed the benchmark market index and Fama's measure of inadequate diversification is found in five schemes have shown negative return and net selectivity indicating superior of all stock selection. The benchmark and market return index at 5% level of significance impact on mutual fund in the result of regression analysis