OUTLOOK

Markets across many such geographies have brought forward their expectations for interest rate hikes, as unprecedented supply side shortages (including energy shocks) meet equally unprecedented fiscal stimuli in some of these economies, thereby challenging the ‘transitory’ narrative on inflation.

Front end rates, which are most susceptible to interest rate hike expectations, had risen sharply in many geographies as a result, more than doubling in some cases over this relatively brief span. Subsequently, many developed market central banks stepped in to push against these rate hike expectations, which led to some cooling off in developed market yields.

India was also influenced with these global goings on with yields, particularly on swaps, first rising and subsequently falling in line with these developments.
In our view, bar-belling may remain the best way to navigate these times. For longer horizons or more aggressive profiles, the view can be expressed as just a plain long position in intermediate maturity 4 – 6 years.

     ASSET QUALITY

     FUND FEATURES: (Data as on 31st October'21)

Category: Gilt Fund with 10 year constant duration
Monthly Avg AUM: Rs266.27 Crores
Inception Date: 9th March 2002
Fund Manager:
Mr. Harshal Joshi (w.e.f. 15th May 2017)
Standard Deviation (Annualized): 3.57%
Modified duration: 6.74 years
Average Maturity: 9.18 years
Macaulay Duration: 6.95 years
Yield to Maturity: 6.39%
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

(31 October 2021)

     RISKOMETER

Scheme risk-o-meter

Benchmark risk-o-meter