The Association of Mutual Funds in India (AMFI) has released a list of benchmarks that mutual funds can use as tier-1 benchmark for their debt, equity and hybrid schemes. The list comes a month after SEBI introduced the concept of dual benchmark for mutual fund schemes.
As per a SEBI circular issued in October, mutual funds can choose to have two benchmarks — one each for performance and investment style — instead of the current practice of having one benchmark to compare performance.
In the same circular, SEBI had asked AMFI to specify the first benchmark for each fund category.
The release from AMFI is in accordance with that directive. The industry body has listed two benchmarks for each fund category. In the case of debt funds, it has mentioned two benchmarks — one each from NSE and Crisil.
For equity funds, it has mentioned one benchmarks each from NSE and S&P BSE Index.
Here's the list of benchmarks specified by AMFI for major fund categories:
|
Debt funds |
Tier 1 Benchmark - NSE |
Crisil Indices |
|
Liquid Fund |
NIFTY Liquid Index |
CRISIL Liquid Fund Index |
|
Low Duration Fund |
NIFTY Low Duration Debt Index |
CRISIL Low Duration Debt Index |
|
Dynamic Bond Fund |
NIFTY Composite Debt Index |
CRISIL Composite Bond Fund Index |
|
Corporate Bond Fund |
NIFTY Corporate Bond Index |
CRISIL Corporate Bond Composite Index |
|
Credit Risk Fund |
NIFTY Credit Risk Bond Index |
CRISIL Short Term Credit Risk Index |
|
Banking and PSU Fund |
NIFTY Banking and PSU Debt Index |
CRISIL Banking and PSU Debt Index |
|
Gilt Fund |
NIFTY All Duration G-Sec Index |
CRISIL Dynamic Gilt Index |
|
Equity funds |
Tier 1 Benchmark - NSE |
S&P BSE Index |
|
Multi Cap Fund |
Nifty 500 Multicap 50:25:25 |
S&P BSE 500 TRI |
|
Large Cap Fund |
NIFTY 100 |
S&P BSE 100 TRI |
|
Large & Mid Cap Fund |
NIFTY Large Midcap 250 |
S&P BSE 250 Large MidCap TRI |
|
Mid Cap Fund |
NIFTY Midcap 150 |
S&P BSE Midcap 150 TRI |
|
Small Cap Fund |
NIFTY Smallcap 250 |
S&P BSE 250 SmallCap TRI |
|
ELSS |
NIFTY 500 |
S&P BSE 500 TRI |
|
Flexi Cap Fund |
NIFTY 500 |
S&P BSE 500 TRI |
|
Hybrid |
Tier 1 Benchmark - NSE |
Crisil Indices |
|
Conservative Hybrid Fund |
NIFTY 50 Hybrid Composite Debt 15:85 Index |
CRISIL Hybrid 85+15 Conservative Index |
|
Balanced Hybrid Fund |
NIFTY 50 Hybrid Composite debt 50:50 Index |
CRISIL Hybrid 50+50 Moderate Index |
|
Aggressive Hybrid Fund |
NIFTY 50 Hybrid Composite Debt 65:35 Index |
CRISIL Hybrid 35+65 Aggressive Index |
For the full list, click here.
