Thursday
Top 10 Long Term Debt Funds – March 2010
Here is the first edition of FRPP rankings in the Long-Term Debt Funds category (See previous post on FRPP).
There are basically two kinds of debt funds – income and gilt. Income funds invest in corporate instruments such as bonds, debentures, and fixed deposits. Gilt funds invest in government bonds. The performance of the debt funds have been ranked in both categories. A total of 41 long term debt mutual funds were used in the analysis. A total of 46 long term gilt funds were used in the analysis.
Long Term Debt Funds
| FRPP Rank | Fund Name (Long Term Debt) | Assets (Rs. Cr.) | NAV (17/3/2010) | 1 year Return (%) |
| 1 | Templeton (I) ST Income | 4,035.25 | 1,841.41 | 11 |
| 2 | ICICI Pru Income | 578.53 | 29.84 | 7.9 |
| 3 | Birla SL Dynamic Bond | 6,704.41 | 15.45 | 8.3 |
| 4 | Birla SL Income Plus | 879.23 | 41.86 | 5.4 |
| 5 | DWS Short Maturity | 69.86 | 16.51 | 7.5 |
| 6 | Reliance Income Fund | 465.67 | 30.75 | 6 |
| 7 | DWS Premier Bond | 21.86 | 15.54 | 7.8 |
| 8 | LIC MF Bond Fund | 92.59 | 25.93 | 7.1 |
| 9 | IDFC SSIF - STP Plan A | 135.18 | 19.15 | 6.1 |
| 10 | Escorts Income Plan | 4.09 | 29.08 | 8.2 |
Long Term Gilt Funds
| FRPP Rank | Fund Name (Long Term Gilt) | Assets (Rs. Cr.) | NAV (17/3/2010) | 1 year Return (%) |
| 1 | ICICI Pru Gilt Inv Plan - PF | 75.16 | 18.22 | 7.7 |
| 2 | JM G-Sec Fund (RP) | 17.81 | 29.73 | 7.4 |
| 3 | ICICI Pru Gilt (IP) | 367.16 | 31.33 | 4.5 |
| 4 | Birla Sun Life GSec - LTF | 29.62 | 25.96 | 10.6 |
| 5 | ICICI Pru Gilt (TP) | 250.88 | 24.31 | 4.7 |
| 6 | Escorts Gilt Fund | 0.2 | 20.2 | 2.6 |
| 7 | DSP-BR Govt. Sec. | 65.49 | 31.67 | 1.8 |
| 8 | Templeton (I) G-Sec - LTP | 76.06 | 22.75 | 1.3 |
| 9 | ICICI Pru Gilt (TP) PF | 49.31 | 15.35 | 3.9 |
| 10 | Kotak Gilt-Inv PF & Trust | 8.27 | 31.61 | 6.9 |
Inflation is up, and interest rates are tending to rise. The government’s borrowing calendar for the coming year will dictate how the gilt’s perform. Front-loading of borrowing in fiscal 2011 would mean more supply of government papers, and the NAV’s of long-term gilts will continue to fall further. See recent ET article. It might be better to move to short-term debt funds. What are some good short-term funds? Stay tuned…
Happy Investing!
Labels: Debt, FRPP, Fund Relative Strength, Long Term Debt, Mutual Funds
by Admin at 21:16 |
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