IT, pharma funds offer no returns over last one year

Those who invested in defensive sectors like pharmaceuticals and IT (information technology) a year ago are staring at huge underperformances. Mutual fund equity schemes with these two themes have yielded no returns for investors. In comparison, bluechip-focused schemes have given over 10 per cent returns, while other popular themes like banking and even FMCG have delivered returns in excess of 18 per cent. FMCG is fast-moving consumer goods. The category average return for IT funds is a mere 0.32 per cent, while that for pharma funds is in the negative territory at 1.34 per cent for one ...

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