Investments In Mutualfunds Are Expected to Grow at the Rate of 15%-25% In India In the Coming Years.Keeping That In the Background It Is Important to Know and Analyze If Theinvestments Have Performed Below, Above or As Per Expectations. Thus Goodinvestment Performance Tools and Techniques Are Extremely Important. Investmentperformance Measurement Methods Quantify How Much Return the Investment Hasearned, How Was It Earned and What Were the Risks Taken. Typically Performanceevaluation of Mutual Funds Is Conducted Using Sharpe’S Measure, Treynor’Smeasure and Jensen’S Measure. Each of These Measures Has Limitations In Termsof Classification, Composition and Survivorship Bias. This Results Ininconsistent Results. It Is Observed That the Same Manager Who Appearssuccessful In One Peer Group Provider’S Classes Is Unsuccessful Against Acomparable Peer Group Supplied By Another Provider.