Worst quarter in the decade for equity
Only gold ETFs have ended positive and attracted investors' wealth.
On March 31, 2008, Indian mutual funds ended their worst quarter of the decade. The average returns of almost all categories of equity funds had their worst three months since January 2001, according to the quarterly review of fund performance released by Value Research.
Funds in the key 'Diversified Equity' category, which has the largest number of funds (194) as well as the highest investor interest, lost an average of 28.3 per cent. This was far worse than the previous worst of the decade, when these funds lost 16.9 per cent in Q1 of 2001.
Individual funds in the category lost between 16.2 per cent and 40.6 per cent between January and March this year, during which BSE Sensex and the NSE Nifty both lost 22.9 per cent.
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