Mangalmay Journal of Management & Technology
Year : 2019, Volume : 8, Issue : 2
First page : ( 33) Last page : ( 40)
Print ISSN : 0973-7251. Online ISSN : 2230-729X.

An empirical study on performance evaluation of sbi mutual fund

Goyal Priyanshu

Assistant Professor Post Graduate Department of Commerce, Dev Samaj College for Women, Ferozepur City, India, priyanshugoyal119@gmail.com, Contact No.: 90564–69704

Online published on 18 April, 2020.

Abstract

The Indian mutual fund industry has witnessed a structural transformation during the last few years. It is becoming the choice of many investors and also attracting many people in recent years. Therefore, it becomes important to examine the performance of the industry in the changed scenario. The study attempts to evaluate the investment performance of SBI Mutual Fund schemes during the recent 61 months period from April 1, 2014 to May 1, 2019. For this purpose, we have used monthly return based on NAV for 20 direct growth schemes. S&P CNX Nifty Index has been used as a proxy for the market portfolio, while monthly yield on 91-day Treasury Bills (T-Bills) have been used as a surrogate for risk free rate of return. The investment performance has been studied in terms of following measures viz., (a) Rate of Return Measure (b) Standard Deviation (c) Beta (d) Coefficient of determination (e) Sharpe's ratio (f) Treynor's ratio (g) Jensen's ratio. The empirical results reported here indicate that SBI Focused equity Fund has outperformed the benchmark in terms of Average Return and SBI Magnum Ultra Short Duration has outperformed in terms of Sharpe and Treynor Ratio.

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Keywords

Beta, Coefficient of Determination, Sharpe & Treynor Ratio, Jensen Ratio.

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