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The Franklin India Growth Fund versus the Benchmark in 2015

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The returns of FIGZX

The Franklin India Growth Fund (FIGZX) has given a return of -5.2% in 2015. The fund has been in existence since January 2008. On an annual average basis, the fund has returned 3.7% since inception.

The chart below gives a snapshot of the average annual return as compared to the benchmark MSCI India Index. The fund has underperformed the benchmark index over all the periods reviewed.

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Historical returns

The following chart gives a comparison of the historical returns of the fund and that of its benchmark index. The best year for the fund was 2009, with a return of 82%. The MSCI India Index is the fund’s benchmark index. The fund has underperformed the benchmark index.

The performance breakdown of FIGZX

In 2015, ETGIX gave a return of -5.2%. HDFC Bank Ltd (HDB), which forms 5.5% of the portfolio, returned 19.2% in 2015. HDB is also the top holding in the portfolio. Infosys Ltd (INFY) forms 5% of the portfolio. INFY gave a return of about 20% in 2015. Tata Motors (TTM), which forms 4.6% of the portfolio holdings, returned a loss of 33% over the same period.

Financials (IBN), which was among the worst performing sectors in 2015, formed the highest composition in FIGZX. The sectoral index S&P BSE Finance returned a loss of 5%. Information technology, healthcare, and consumer discretionary formed a sizeable portion of the fund as well. Together, these three sectors formed 39.5% of the portfolio.

In the S&P BSE sectoral indexes, these three sectors were the top-performing sectors in 2015. The S&P BSE Healthcare Index returned 15.6% . The sectoral indexes of information technology and consumer discretionary gave returns of 6.6% and 8.9%, respectively.

In the next article, we’ll analyze the comparative performance of the five India-focused funds.

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