PinoyMoneyTalk.com

Since December 8, for some reason the Investment Company Association of the Philippines (www.icap.com.ph) has stopped updating the daily record of performance returns of Philippine mutual funds. It is highly likely that access to this information is limited to ICAP members alone.

This explains why we did not have the weekly performance update last week. Starting this week, however, we will utilize the daily mutual funds report published in the Philippine Daily Inquirer rather than the ICAP site.

Do take note that this report summarizes the performance of mutual funds over a two-week period from December 8 until December 22 and not a one-week summary of results.

As always, when assessing 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

• As expected, all stock funds increased value over the two-week period. Although First Metro Save and Learn Equity Fund remains to have the highest year-to-date return, it registered the lowest two-week growth (2.1%) among all stock funds. Philam Strategic Growth Fund, Inc. grew the fastest (8.0%) during this two-week period.

• Top three equity funds in terms of YTD return: 

1. First Metro Save and Learn Equity Fund - 65.77%;
2. Philequity Fund, Inc. - 47.73%;
3. ATR-Kim Eng Equity Opportunity Fund - 42.45%.

• Top three equity funds in terms of two-week growth:

1. Philam Strategic Growth Fund, Inc. - 8.0%;
2. ATR-Kim Eng Equity Opportunity Fund - 6.7%;
3. Sun Life Prosperity Phil. Equity Fund, Inc. - 6.1%.

Balanced funds

• All balanced funds also grew in value during the two-week period. First Galleon Family Fund, Inc. grew the fastest (15.6%) but remained to be the worst YTD performer.

• SunLife's Prosperity Dollar Advantage Fund gained 4.1% in two weeks.

• Top three balanced funds in terms of YTD return:

1. GSIS Kinabukasan Fund - 38.25%;
2. MFCP Kabuhayan Fund - 35.49%;
3. Philam Fund, Inc. - 33.25%.

• Top three balanced funds in terms of two-week growth:

1. First Galleon Family Fund, Inc - 15.6%;
2. GSIS Kinabukasan Fund - 9.6%;
3. Philam Fund, Inc. - 8.2%.

Bond funds

• Peso-denominated bond funds all gained from their value two weeks ago, with Ekklesia Mutual Fund growing the least (0.6%) but still having the highest YTD return.

• Top three peso bond funds in terms of YTD return:

1. Ekklesia Mutual Fund - 18.76%;
2. Prudential Fixed Income Fund, Inc. - 16.03%;
3. Philam Bond Fund, Inc. - 14.21%.

• Top three peso bond funds in terms of two-week growth:

1. Prudential Fixed Income Fund, Inc. - 14.3%;
2. ATR-Kim Eng Fixed Income Fund - 12.8%;
3. Philam Bond Fund, Inc. - 12.2%.

• Two foreign currency-denominated bond funds stagnated while the rest increased value. Grepalife Fixed Income Fund, Inc. is currently the best fund in terms of YTD return and growth.

• Top three foreign currency-denominated bond funds in terms of YTD return:

1. Grepalife Fixed Income Fund, Inc. - 9.84%;
2. Sunlife Prosperity Dollar Abundance Fund (USD$) - 9.00%;
3. Grepalife Dollar Bond Fund (USD$) - 3.3%.

• Top three foreign currency-denominated bond funds in terms of two-week growth:

1. Grepalife Fixed Income Fund, Inc. - 6.4%;
2. Sunlife Prosperity Dollar Abundance Fund (USD$) - 3.6%;
3. ALFM Dollar Bond Fund, Inc. (USD$) - 3.3%.

Money market funds

• Sun Life Prosperity Money Market Fund continued to increase NAVPS, growing by 3.0% over a two-week period.

Discuss

Discuss these results in the Mutual funds, UITF and other investments board in the PMT Forum.

Returns of Philippine Mutual Funds, as of December 22, 2006

Source: INQ7 Business

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]

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This entry was posted on Thursday, December 28th, 2006 at 7:14 am and is filed under Investing in Mutual Funds. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.