Year 2007 has rocked for the mutual fund investors. To begin with, the stock markets have been on an upswing and mutual funds, as a sidekick, have not only kept pace but overtaken the 30-stock benchmark, the BSE Sensex.
This is borne out by the returns churned out by top 10 mutual funds. While the Sensex has returned 56 per cent during the year ending December 13, 2007, the top 10 mutual funds under consideration have outperformed the Sensex by quite a margin.
No, we are not joking. Let the numbers speak for themselves.
The top five mutual funds in this category have more than doubled the investors' money. And the remaining five have given returns of more than 95 per cent for the year ending December 13, 2007.
For simplicity, we have chosen growth-oriented and open-ended mutual funds. Another reason being that investors this year have been chasing growth stories because of the expected bumper returns. And have they been disappointed? Well, the table below will disappoint only if you try to find any bad news!
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