ICICI Prudential, UTI, Birla Sun Life & Templeton

UTI Opportunities (Up)
Q2 (Sept '11) Returns -4.6%
AUM: Rs 1,650.1 crore
Fund Manager: Anoop Bhaskar

One of the better performing schemes from the UTI Asset Management, Opportunities has been rated Gold on a number of occasions. Its Platinum rating this quarter is, however, an outcome of its outstanding performance in the current calendar year so far coupled with the cumulative impact of its out-performance in the couple of previous years.

The fact that the scheme has lost less than 5% of its NAV year-to-date, is indeed commendable given the fact that the markets has been at their volatile best. The scheme has had a change in fund management this quarter, giving us all the more reason to keep it under our radar.

ICICI Prudential Tax Plan (Up)
Q2 (Sept '11) Returns -10.5%
AUM: Rs 1,259 crore
Fund Manager: Rajat Chandak

Icici Prudential Tax Plan has made it to Platinum ratings for the very first time this quarter.

Having faced severe criticism for its poor show in 2007 and during the financial crisis a year later, the scheme has been on fire since 2009 and has outperformed its peers and indices by handsome margins. Hoping that the going will only get better hereon, it would be interesting to see if I-Pru Tax Plan succeeds in maintaining the coveted ratings in the quarters to come.

Birla Sun Life Frontline Equity (Down)
Q2 (Sept '11) Returns -11.2%
AUM: Rs 2,884.7 crore
Fund Manager: Mahesh Patil

This large-cap, conservative offering from the Birla basket, has a history of moving between Gold and Platinum ratings. However, the market volatility this year appears to have got the better of it, and the scheme has, for the quarter, slid to Gold, having maintained Platinum ratings for the past couple of quarters in a row. We hope that Frontline equity will soon make up for this loss and claw back to the Platinum grade next quarter.

Templeton India Growth (Down)
Q2 (Sept '11) Returns -13.5%
AUM: Rs 812.2 crore
Fund Manager: J Mark Mobius

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It appears that market volatility has clearly punctured 'growth' out of Templeton India Growth, which has lost more than 20% of its NAV since the beginning of this year. Having reigned over the Platinum ratings sweepstakes for a long time, the scheme slid to Gold in the March quarter this year.

However, its slide to Silver just two quarters hence is a bit of a surprise, especially because this scheme had moved up from just being an average performer quite a long time ago. Investors would be unhappy to see it slide again.