There has been a significant increase in the awareness, interest to learn, and to know about mutual funds among the general populace. This has led to a significant increase in people willing to invest in mutual funds. This paper is an attempt to evaluate the performance of select mutual fund schemes with operations in India. This study is based on the daily Net Asset Value for 5 years. The paper uses non-parametric tools in concurrence Sharpe and Jensen’s Alpha techniques. The 10 selected mutual fund schemes were classified based on ownership owned by banks and standalone enterprises; this would help shed light on some interesting observations.  The results shed light on the significant relationship between mutual fund returns and market returns, foreign exchange rate, inflation rate, beta of the mutual fund scheme.

Keywords

Mutual funds, Performance Appraisal, Net Asset Value, Indian Financial Markets