PERFORMANCE OF SELECT MUTUAL FUNDS IN INDIA

Mutual funds is one of the major instruments for wealth creation and wealth saving in the current years. It is a financial instrument which gives positive result and satisfactory return to its investors. The mutual industries in have undergone a most successful phase in the last 15 years. The AUM has shown tremendous growth since inception from Rs. 25 crore in 1965 to Rs. 22,36,717 crore in December 2017. But this tremendous growth in the mutual fund industries in India is still lacking for behind other developed nations. This study examines growth of mutual fund and evaluate the operation of mutual fund schemes considering 6 mutual funds growth schemes i.e. Reliance growth fund, SBI Magnum growth fund, ICICI growth fund, LIC growth fund and Birla sunlife growth fund during this period. This period applying Sharpe Ratio, Treynor Ratio and Jenson Alpha to evaluate performance of mutual funds. In the study we find the Sharpe ratio was positive for the five selected schemes out of six which showed that funds were providing returns greater than risk free rate. Treynor ratio reveled the positive for the all selected schemes which shows over performance of the schemes. Results of Jensen measure reveled that all the selected schemes were showed positive alpha which indicated superiar performance of the schemes.