Banking funds shine in strong 2012 for equities
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.
(Reporting by Aditya Kalra; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
- Indian firms tool up for defence orders on Modi's 'buy India' pledge
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Murder, revenge, lust and rampage take over 'Sin City' sequel |
- India to tighten up banking risk management - Jaitley
- Striker Michael Chopra joins Tendulkar-owned team in Indian Super League
Finance Minister Arun Jaitley said on Thursday that the government was working to tighten up risk management in the banking sector, responding to recent scandals that have raised doubts about lending practices at state banks. Full Article