| SCHEME OBJECTIVE |
The single biggest spoilt sport in the domestic bond market has been the progressive increase in inflation. From 7.57 per cent for the year ending April 19 inflation hit 8.1 per cent at the end of May 17. The yield on the 10-year benchmark 8.24 per cent GOI 2018 bond rose by 18 basis points during the month of May and closed the month at a high yield of 8.10 per cent.
As a result the mutual fund industry’s debt products also took a beating. Many debt funds also turned negative over the one month period ending May 30. However, this would be a temporary blip as over the longer term of 6 months to a year debt funds rarely deliver negative returns.
As always the returns of the Floating rate funds were the most consistent. Short term debt funds also put up an impressive performance with the average fund returning as much as 7.69 per cent, annualised over the past month. There was a wide variation in returns delivered by Income funds. Franklin India International Fund was the best performing fund, delivering an absolute return of 2.98 per cent over the one month ending May 30. This is a feeder fund that channelises money to the Franklin US Government Fund. To a large extent the returns here have shown a drastic improvement due to the depreciation in the rupee value over the past month. This return is better than what some of the diversified equity funds have been able to deliver.
The outlook for the debt market does not look very robust in the near term. Sky high global fuel prices, domestic increase in fuel price and the consequent inflationary impact on imported as well as domestic produce will undermine the real interest rate in the economy. Inflation is edging up to 9 per cent while the yield on the 10-year benchmark paper standing at 8.23 odd per cent, could well lead to such a situation.
We have considered only open-ended growth schemes in the following tables.
|
| |
| Category |
Average Return (%) |
Minimum Return (%) |
Max Return (%) |
| Gilt Short Term |
4.37 |
0.12 |
6.94 |
| Gilt Long Term |
1.84 |
-9.34 |
7.02 |
| Income Funds |
4.95 |
-10.77 |
36.23 |
| Liquid Plus |
7.96 |
7.09 |
8.51 |
| Floating Rate Funds |
7.96 |
5.21 |
9.65 |
| Short Term Plans |
7.69 |
0.96 |
10.19 |
| Monthly Income Plans |
-5.88 |
-21.66 |
12.07 |
| Annualised one Month Returns as of May 30. |
|
|
|
|
|
| |
Floating Rate Funds |
Top Five |
Scheme Name |
1 Month Return (%)* |
Rank |
Tata FRF - LT - Growth |
9.65 |
1 |
UTI Floating Rate Fund - STP - Growth |
9.38 |
2 |
Birla Floating Rate Fund - LTP - Growth |
9.04 |
3 |
LIC MF Floating Rate Fund - ST - Growth |
8.99 |
4 |
Escorts Floating Rate Funds - Growth |
8.66 |
5 |
* Annualised Returns as of May 30 |
|
|
| |
Bottom Five |
Scheme Name |
1 Month Return (%)* |
Rank |
Kotak Floater - LT - Growth |
7.38 |
23 |
ICICI Prudential LT FRF - Plan A - Growth |
6.73 |
24 |
IDFC F R F - STP - Plan A - Growth |
6.13 |
25 |
SBI Magnum Income - FRP - ST - Growth |
5.96 |
26 |
SBI Magnum Income - FRP - LT - Growth |
5.21 |
27 |
* Annualised Returns as of May 30 |
|
|
|
|
| |
Income Funds |
Top Five |
Scheme Name |
1 Month Return (%)* |
Rank |
Franklin India International Fund |
36.23 |
1 |
ICICI Prudential L T P - Cumulative |
10.37 |
2 |
Sahara Classic Fund - Growth |
9.24 |
3 |
Canara Robeco Interval Scheme - Quarterly - Ret - Growth |
9.04 |
4 |
Tata Dynamic Bond Fund - Option A - Growth |
8.96 |
5 |
* Annualised Returns as of May 30 |
|
|
| |
Bottom Five |
Scheme Name |
1 Month Return (%)* |
Rank |
Sundaram BNP Paribas Select Debt - D A P - Appreciation |
-0.88 |
49 |
ING Dynamic Duration Fund - Growth |
-2.69 |
50 |
SBI Magnum NRI Investment Fund - Long Term Bond Plan - Growth |
-3.15 |
51 |
DSP Merrill Lynch Bond Fund - Retail Plan - Growth |
-4 |
52 |
JM Income - Growth |
-10.77 |
53 |
* Annualised Returns as of May 30 |
|
|
|
|
| |
Liquid Plus |
Top Five |
Scheme Name |
1 Month Return (%)* |
Rank |
PRINCIPAL Liquid Plus Fund - Regular Plan - Growth |
8.51 |
1 |
ICICI Prudential Flexible Income Plan - Growth |
8.45 |
2 |
DWS Credit Opportunities Cash Fund - 90D - Growth |
8.41 |
3 |
Tata Floater Fund - Growth |
8.41 |
3 |
LIC MF Liquid Plus Fund - Growth |
8.37 |
4 |
Kotak Flexi Debt Fund - Growth |
8.35 |
5 |
* Annualised Returns as of May 30 |
|
| |
Bottom Five |
Scheme Name |
1 Month Return (%)* |
Rank |
DBS Chola F I - S T F - Reg - Growth |
7.53 |
25 |
JM Liquid Plus Fund - Regular - Growth |
7.36 |
26 |
Templeton FRIF - Long Term - Growth |
7.32 |
27 |
JM Money Manager Fund - Growth |
7.24 |
28 |
Templeton India Liquid Plus - Growth |
7.09 |
29 |
* Annualised Returns as of May 30 |
|
|
|
| |
Short Term Plans |
Top Five |
Scheme Name |
1 Month Return (%)* |
Rank |
UTI Short Term Income Fund - Ret - Growth |
10.19 |
1 |
Lotus India Short Term Plan - Retail - Growth |
10.11 |
2 |
HSBC Income Fund - S T P - Reg - Growth |
10.04 |
3 |
HDFC HIF - S T P - Growth |
8.87 |
4 |
JM Short Term Fund - Growth |
8.86 |
5 |
* Annualised Returns as of May 30 |
|
| |
Bottom Five |
Scheme Name |
1 Month Return (%)* |
Rank |
SBI SHF - Short Term - Retail - Growth |
6.3 |
20 |
Sundaram BNP Paribas Select Debt - S T A P - Appreciation |
6.06 |
21 |
Fidelity Short Term Income Fund - Growth |
5.81 |
22 |
IDFC SSIF - Short Term - Plan A - Growth |
5.28 |
23 |
SBI Magnum NRI Investment Fund - Short Term Bond Plan - Growth |
0.96 |
24 |
* Annualised Returns as of May 30 |
|
|
|
| |
Monthly Income Plans |
Top Five |
Scheme Name |
1 Month Return (%)* |
Rank |
DSP Merrill Lynch Savings Plus - Aggressive Fund - Growth |
12.07 |
1 |
Birla MIP - Savings 5 - Growth |
9.41 |
2 |
Reliance MIP - Growth |
9.29 |
3 |
DSP Merrill Lynch Savings Plus - Moderate Fund - Growth |
9.15 |
4 |
SBI Magnum MIP - Floater - Growth |
7.68 |
5 |
* Annualised Returns as of May 30 |
|
| |
Bottom Five |
Scheme Name |
1 Month Return (%)* |
Rank |
JM MIP - Growth - Cap Appr withdrawal option |
-15.1 |
34 |
JM MIP - Growth - Fixed Amt Withdrawal option |
-15.1 |
34 |
LIC MF FRF - MIP- Plan A - Growth |
-18.79 |
35 |
UTI - MIS - Advantage Fund - Growth |
-18.91 |
36 |
Birla MIP - Wealth 25 - Growth |
-21.66 |
37 |
* Annualised Returns as of May 30 |
|
|
|
|
|
| |
Gilt Funds- Short Term |
Top Five |
Scheme Name |
1 Month Return (%)* |
Rank |
ICICI Prudential GFTP - Growth |
6.94 |
1 |
Birla GPLP - Growth |
6.16 |
2 |
Templeton India GSF - Treasury Plan - Growth |
5.99 |
3 |
DSP Merrill Lynch G Sec Fund - Plan B - S T D - (G) |
5.63 |
4 |
Birla SunLife G Sec Fund - STD - Growth |
5.22 |
5 |
* Annualised Returns as of May 30 |
|
Bottom Five |
Scheme Name |
1 Month Return (%)* |
Rank |
SBI Magnum Gilt STP - Growth |
3.34 |
10 |
HDFC Gilt Fund - S T P - Growth |
3.33 |
11 |
UTI G-Sec Fund - STP - Growth |
3.22 |
12 |
PRINCIPAL G Sec - Savings - Growth |
1.9 |
13 |
IDFC G Sec Fund - Short Term - Plan A - Growth |
0.12 |
14 |
* Annualised Returns as of May 30 |
|
|
|
| |
Gilt Funds- Long Term |
|
|
Top Five |
Scheme Name |
1 Month Return (%)* |
Rank |
Escorts Gilt Plan - Growth |
7.02 |
1 |
Sahara Gilt Fund - Growth |
6.49 |
2 |
DBS Chola Gilt Investment - Growth |
5.81 |
3 |
Lotus India Gilt Fund - Long Duration Plan - IP - Growth |
5.53 |
4 |
Sundaram BNP Paribas Gilt Fund - Growth |
5.44 |
5 |
* Annualised Returns as of May 30 |
|
Bottom Five |
Scheme Name |
1 Month Return (%)* |
Rank |
Kotak Gilt - Investment Regular Plan - Growth |
-3.45 |
36 |
JM G Sec Regular Plan - Growth |
-3.9 |
37 |
Birla GPPFP - Growth |
-6.16 |
38 |
DSP Merrill Lynch G Sec Fund Plan A Long Duration - (G) |
-6.61 |
39 |
JM G Sec - P F Plus - Growth |
-9.34 |
40 |
* Annualised Returns as of May 30 |
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