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Banking funds shine in strong 2012 for equities

Source : REUTERS
Last Updated: Wed, Jan 02, 2013 12:30 hrs
A labourer works on the sign of a bank building in the western Indian city of Ahmedabad

NEW DELHI (Reuters) - Funds focused on banks were the top performers in India in 2012, according to data from fund tracker Lipper, a Thomson Reuters company, after the banking sub-index surged nearly 57 percent last year.

Indian shares ended 2012 with their best gain in three years as strong foreign inflows and the government's fiscal and economic reforms outweighed worries about the domestic economy.

ICICI Prudential Banking & Finance Services Fund was the best performing fund in 2012, registering gains of 72.2 percent, followed by Reliance Banking Fund which clocked a rise of 60.5 percent.

The following table shows Indian mutual fund returns for the month of December and their cumulative performance.

(Reporting by Aditya Kalra; Editing by Subhranshu Sahu)




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