Pharma Funds are sectoral fund predominantly investing in the pharma or related companies. These funds aim to provide the investors maximum growth opportunity through equity investment in stocks of Pharma sector. Pharma funds that were considered a contrarian bet, have also assumed an envious place amongst the equity fund categories by losing the least. The category average of pharma funds posted the negative returns of 29.42% underperforming the BSE Healthcare index, which lost around 25.50% over one year period ended 26 November 2008. However, Pharma funds have outperformed the broad market with the BSE Sensex losing 53.10% in this period.
During the same period all other sub categories under equity category registered more than 50% erosion in their category average in one year period.The pharma sector category recorded net asset of Rs 183.15 crore as on the 31 October 2008, 35% less than the net assets of Rs 286.05 crore as on 30 April 2008. Except Auto (net assets increased by 1.06%) and index fund ( a fall of 13%) category all other equity sub categories reported a fall in net assets higher than the pharma category. Equity diversified fund assets diminished by 45%.
UTI - Pharma & Healthcare Fund is an open-ended growth scheme investing in stocks of companies engaged in the research manufacture or marketing op Pharmaceuticals - bulk drugs, OTC products, medical equipment and accessories, personal healthcare products and also companies owning/managing hospitals. The fund is now continuing the asset worth of Rs 43.29 crore. It has highest exposure in sun pharma, Cipla and Glaxo.Franklin Pharma Fund is an open ended growth fund with the primary investment objective to achieve long term capital appreciation through exclusively investing in Pharmaceutical/Life sciences. The fund is now managing about Rs 35 crore and it has highest exposure in Lupin, Cadila Healthcare and Dr Reddys Laboratories.
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