Background: Canbank Investment Management Services Ltd. is a wholly owned subsidiary of Canara Bank, established in 1906, is a leading Nationalized Bank operating in India abroad through its network of branches in India and offices in London, Moscow, UAE and Hong Kong. It has commenced it operation from 19 December 1987. Fund house manages assets worth Rs 4743.88 crore at the end of March 2009.
Canara Robeco Nifty Index Fund (G) an open-ended index scheme launched in September 2004. The objective of the scheme is to generate income/capital appreciation by investing in companies whose securities are included in the S & P CNX Nifty. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 18.01 per unit as on 17 April 2009.
Portfolio: The total net assets of the scheme increased by Rs 0.14 crore to Rs 4.44 crore in March 2009.
Canara Robeco Nifty Index Fund (G) took fresh exposure to one stock in March 2009. The scheme has purchased 835 units (0.78%) of Axis Bank.
The scheme exited completely from Zee Entertainment Enterprises by selling 1062 units (0.26%) in March 2009.
Sector -wise, the scheme took no fresh exposure in March 2009.
Sector-wise, the scheme exited completely from Entertainment/Electronic Media Software at 0.26% in March 2009.
The scheme had highest exposure to Reliance Industries with 3663 units (12.59% of portfolio size) followed by Oil & Natural Gas Corporation with 4978 units (8.75%), NTPC with 19183 units (7.78%) and Bharti Airtel with 4418 units (6.23%) among others in March 2009.
It reduced its exposure from NTPC by selling 984 units to 19183 units (by 0.91%), Bharti Airtel by selling 224 units to 4418 units (0.67%), Hindustan Unilever by selling 254 units to 5077 units (0.43%) and ITC by selling 441 units to 8786 units (0.27%) among others in March 2009.
Sector-wise, the scheme had highest exposure to Refineries at 15.54% (from 14.11% in February 2009), followed by Power Generation and Supply at 12.69% (13.94%), Oil Drilling/Allied Services at 10.59% (10.23%) and Telecommunications-Service Provider at 9.70% (10.22%) among others in March 2009.
Sector wise, the scheme had reduced exposure from Power Generation and Supply to 12.69% (by 1.25%), Telecommunications-Service Provider to 9.70% (by 0.52%), Personal Care– Multinational to 2.72% (by 0.43%) and Cigarettes to 3.66% (by 0.27%) among others in March 2009.
Performance: The scheme underperformed the Sensex over most of the time periods except one year period.
Over three-month period ended as on 17 April 2009, the scheme posted returns of 17.18% underperforming the Sensex that posted returns of 18.15%. Over 6 month period, the scheme's returns scaled up 10.09% underperforming the Sensex that rose 10.50%.
The returns of the scheme over one year period fell 31.91% underperforming the Sensex that plunged by 33.12%.
Canara Robeco Nifty Index Fund (G) an open-ended index scheme launched in September 2004. The objective of the scheme is to generate income/capital appreciation by investing in companies whose securities are included in the S & P CNX Nifty. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The unit NAV of the scheme was Rs 18.01 per unit as on 17 April 2009.
Portfolio: The total net assets of the scheme increased by Rs 0.14 crore to Rs 4.44 crore in March 2009.
Canara Robeco Nifty Index Fund (G) took fresh exposure to one stock in March 2009. The scheme has purchased 835 units (0.78%) of Axis Bank.
The scheme exited completely from Zee Entertainment Enterprises by selling 1062 units (0.26%) in March 2009.
Sector -wise, the scheme took no fresh exposure in March 2009.
Sector-wise, the scheme exited completely from Entertainment/Electronic Media Software at 0.26% in March 2009.
The scheme had highest exposure to Reliance Industries with 3663 units (12.59% of portfolio size) followed by Oil & Natural Gas Corporation with 4978 units (8.75%), NTPC with 19183 units (7.78%) and Bharti Airtel with 4418 units (6.23%) among others in March 2009.
It reduced its exposure from NTPC by selling 984 units to 19183 units (by 0.91%), Bharti Airtel by selling 224 units to 4418 units (0.67%), Hindustan Unilever by selling 254 units to 5077 units (0.43%) and ITC by selling 441 units to 8786 units (0.27%) among others in March 2009.
Sector-wise, the scheme had highest exposure to Refineries at 15.54% (from 14.11% in February 2009), followed by Power Generation and Supply at 12.69% (13.94%), Oil Drilling/Allied Services at 10.59% (10.23%) and Telecommunications-Service Provider at 9.70% (10.22%) among others in March 2009.
Sector wise, the scheme had reduced exposure from Power Generation and Supply to 12.69% (by 1.25%), Telecommunications-Service Provider to 9.70% (by 0.52%), Personal Care– Multinational to 2.72% (by 0.43%) and Cigarettes to 3.66% (by 0.27%) among others in March 2009.
Performance: The scheme underperformed the Sensex over most of the time periods except one year period.
Over three-month period ended as on 17 April 2009, the scheme posted returns of 17.18% underperforming the Sensex that posted returns of 18.15%. Over 6 month period, the scheme's returns scaled up 10.09% underperforming the Sensex that rose 10.50%.
The returns of the scheme over one year period fell 31.91% underperforming the Sensex that plunged by 33.12%.
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