9 Indian funds among world’s 100 best performing funds in 2012: Lipper

5 of these are banking sector funds.

Five banking sector funds from India are among the top 100 best performing mutual funds in the world, shows a Lipper study. Moreover, as many as 42 funds investing in Asia feature among the 100 best funds in the world.

Among these Asian Funds, Pakistan’s Golden Arrow Selected Stocks Fund (Asia no.1, overall 4^th rank) and Thailand’s Bualuang Top-Ten Fund (Asia no. 2, overall 15^th rank) delivered 105% and 76% respectively. Among Indian funds, ICICI Prudential Banking & Financial Services took the 20^th spot globally by delivering 72% return while Reliance Banking Fund was at 49^th spot, delivering 61% return.

“The Asia-focused funds produced an average return of 61.5 percent, outperforming the top market in the region as well as the 18.6 percent advance in the MSCI's broadest index of Asia-Pacific shares outside Japan. Nearly 7,300 equity funds investing in Asia and tracked by Lipper returned an average 17.9 percent in 2012. By comparison, on-Asian funds gained 13.3 percent,” stated the Lipper report.

Among these nine Indian funds, two are mid-cap funds with a FMCG fund and a media & entertainment fund accounting for the balance two.

This is not surprising. A recent Morningstar report also showed that financial sector funds posted an average return of 59% in 2012, compared to 57% returned by the BSE Bankex index. The Morningstar report showed that small & mid-cap fund category has generated 39% return in 2012, outperforming FMCG and financial services funds.

Click here to see the full list of funds.

Nine Indian best performing funds in the world in 2012