Performance returns of mutual funds in the Philippines (as of 11/10/2006)
November 13, 2006
Following is a summary of performance returns of Philippine mutual funds as of the week ended November 10, 2006.
As always, when analyzing mutual funds you should not simply look at the NAVPS or Net Asset Value per Share. This number does not necessarily tell you whether the fund is performing well or not, but the change of the NAVPS over time does. Never assume that a fund with a high NAVPS means it is generating high returns. You need to look at actual returns of the fund over a certain time horizon.
Highlights of this week's results
Stock funds
- All stock funds have continued to post growing returns, with First Metro Save and Learn Equity Fund and Philequity Fund, Inc. leading the pack.
- Although United Fund, Inc. is recording positive growth, its return is underperforming the industry average.
Balanced funds
- GSIS Kinabukasan Fund, MFCP Kabuhayan Fund, Philam Fund, Inc., and Sun Life Prosperity Balanced Fund, Inc. are already recording an all-time high 30%+ yearly return.
- Legacy HY Fund, Inc. and First Galleon Family Fund, Inc. continue to underperform the industry average, with the latter even failing to match the 1% per annum rate of savings deposit accounts offered by traditional commercial banks.
Bond funds
- For Peso-denominated bond funds, the top performing funds in terms of YTD return are Ekklesia Mutual Fund Inc. (16.29%), Prudential Fixed Income Fund Inc. (13.67%) and Philam Bond Fund, Inc. (12.41%).
- For US Dollar-denominated bond funds, Sun Life Prosperity Dollar Abundance Fund has already inched ahead of Philam Dollar Bond Fund, Inc. in terms of YTD return but the latter has a 2-percentage point lead over the other in terms of 1-year return.
Money market funds
- Sun Life Prosperity Money Market Fund, Inc. continues to perform better than Legacy TD Fund, Inc., with the former earning more than 1-percentage point YTD return compared to the latter fund.
Discuss
Discuss this in the Mutual funds, UITF and other investments board in the PMT Forum.
Returns of Philippine Mutual Funds, as of November 10, 2006
Source: www.icap.com.ph
Click here to view higher-resolution image
[tags]mutual funds Philippines, Philippine mutual fund, daily returns, weekly returns, mutual fund performance, Net Asset Value per Share[/tags]
--------------------
November 23rd, 2006 at 4:53 pm
I notied that in your report for Nov. 17, the article said that Prudentialife Fixed Income Fund “lost ground” from the previous week. But if you check the YTD figures, its the opposite from 13% (on Nov. 10) to 14% (on Nov. 17).
I also suggest that the ranking be in tabular form so that at a glance you can see the top performing funds.
Thanks
November 26th, 2006 at 3:06 am
Thank you for pointing that out. There was a mixup in the report but that has now been rectified in the Nov. 17 article. The image screenshot of the weekly results come from the ICAP website that is why they do not appear in tabular form but anyone who wants to conduct a detailed analysis can visit the ICAP site at http://www.icap.com.ph to access historical NAVPS of all available mutual funds.