The traditional approach of portfolio benchmarking was developed by Markowitz (1952) with his Mean-Variance (M-V) model. The emergence of Capital Asset Pricing Model (CAPM), however, led to the introduction of indices provided by Sharpe (1966), Treynor (1965) and Jensen (1968). Nevertheless,...

Performance analysis of mutual funds operating in the Indian markets are mostly dependent on ratio aproach involving methodologies suggested by Sharpe and Treynor. The present paper makes use of non-parametric endogenous benchmarking to evaluate the performance of 16 top performing sectoral...