Most of the funds are that of Nifty in the attached images,however the ranking is different. Why so when index funds are a replica of index?
I think its because, an Index fund dedicates itself to buying Index Stocks. Every AMC may invest in a different proportion of the Index stocks and since each Index stock may yield a different rate or return, the end return may vary.
Additionally its not just the returns on which an AMC is rated. There are several other factors too. Here is the link explaining the basis: http://www.crisil.com/pdf/capitalmarket/CRISIL-mf-ranking-methodology-mar-13.pdf
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