On 5-10-06, I wrote about the poor performance of stanchart classic equity fund.
I did a followup check on what this fund was like over the last one week.
this is what I found:
top performing fund over last one week: UTI Advantage Equity fund gave 4.28% returns
stanchart classic equity fund gave a mere 0.94%.
(figures from mutualfundsindia.com)
Few funds did worse than this.
Remember, during this time, sensex has been going up and up.
But chaps at stanchard couldnt care less. Shameless performance indeed.
They still have to figure out which stocks to buy and which to sell.
Did you know that India is the only country in the world where Standard Chartered Bank operates a mutual fund??? Refer today’s Economic Times (13-10-06).
Looks like they have no expertise at all and look at what a mess they have created for those who were lured into investing in their schemes.