OUTLOOK

Central banks have been focused on a point pre-pandemic that the economy needs to re-attain and then grow beyond. This thought has been apparent in the US Fed’s commentary on labor markets as well as RBI / MPC commentary in the recently concluded policy.

The extent of disequilibrium in India is nowhere near what it is in the US. This is because both monetary and fiscal loosening were well calibrated and therefore largely avoided the risk of near term overheating.

Given the current emergency levels of overnight rate at 3.35%, RBI doesn’t need a full all clear to start to lift this rate. From a bond market perspective, volatility in money market rates will likely continue as RBI moves to further expand the VRRR program as flagged in the policy. This reaffirms our long preferred bar-belling approach to risk management in this environment

     ASSET QUALITY

     FUND FEATURES: (Data as on 30th November'21)

Category: Gilt Fund with 10 year constant duration
Monthly Avg AUM: Rs263.83 Crores
Inception Date: 9th March 2002
Fund Manager:
Mr. Harshal Joshi (w.e.f. 15th May 2017)
Standard Deviation (Annualized): 3.63%
Modified duration: 6.55 years
Average Maturity: 8.94 years
Macaulay Duration: 6.75 years
Yield to Maturity: 6.25%
Benchmark: CRISIL 10 year Gilt Index (w.e.f. 28th May 2018)
Minimum Investment Amount: Rs5,000/- and any amount thereafter.
Exit Load: Nil
Options Available: Growth & IDCW^@ Option - Quarterly, Half yearly, Annual, Regular and Periodic (each with payout, reinvestment and sweep facility).
Maturity Bucket:

PORTFOLIO

(30 November 2021)

     POTENTIAL RISK CLASS MATRIX

     RISKOMETER

Scheme risk-o-meter

Benchmark risk-o-meter